Yahoo FinanceWhy Roivant Sciences' Shares Are Up Thursday
The company is collaborating with Pfizer to create a portfolio company to develop an encouraging drug to treat ulcerative colitis.
The company is collaborating with Pfizer to create a portfolio company to develop an encouraging drug to treat ulcerative colitis.
NEW DELHI (Reuters) -Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 MAX narrowbody planes as well as some 20 Boeing 787s and 10 Boeing 777X on a day marking one year since Tata Group took control of the former state-run carrier, two sources told Reuters.
The U.S. Securities and Exchange Commission is probing registered investment advisers over whether they are meeting rules around custody of client crypto assets, three sources with knowledge of the inquiry told Reuters. The SEC has been questioning advisers' efforts to follow the agency's rules around custody of clients' digital assets for several months, but the probe has gathered pace in the wake of the blow-up of crypto exchange FTX, the sources said. Advisers managing clients' digital assets typically use a third party to store them.
NEW YORK (Reuters) -A potential U.S. recession and tough comparisons to a stellar 2022 are weighing on the prospects of energy stocks delivering an encore to last year’s stunning run, despite valuations that are seen as still comparatively cheap. The S&P 500 energy sector is up 4.2% year-to-date, slightly lagging the rise for the broader index. The sector logged a 59% jump in 2022, an otherwise brutal year for stocks that saw the S&P 500 drop 19.4%.
Senator Debbie Stabenow thwarted a bid on Thursday by fellow Democrat Joe Manchin to pass a measure that would block some electric vehicles from receiving a $7,500 tax credit. The $430 billion U.S. Inflation Reduction Act passed in August restricts the $7,500 consumer tax credits to North American-made EVs and imposes new battery sourcing rules and again made General Motors and Tesla eligible for EV tax credits. The U.S. Treasury in December said it would not issue proposed guidance on battery sourcing rules until March, effectively giving some EVs not meeting new requirements a few months of eligibility in 2023 before the battery rules take effect.
VANCOUVER — More than 100 workers in Port Alberni are the latest forest industry employees to face layoffs as Western Forest Products confirms it will not restart its sawmill in that Vancouver Island city. The Alberni-Pacific Division facility has been closed since last fall, but the curtailment was only expected to last for six months, unless market conditions changed. Western Forest Products announced Thursday that the mill will not restart "in its current configuration" and says a group, incl
TOKYO (Reuters) -Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. In recent years Toyota has become a target of activists and green investors who had once heralded its hybrid technology, but who now slate its belated embrace of electric vehicles (EVs).
Tiff Macklem's decision to press pause offers rich world a 'glimpse' of where monetary policy is headed
TORONTO — Rent prices in Canada grew at a record pace last year as the country saw the lowest vacancy rate since 2001, the Canada Mortgage and Housing Corp. said. In a report released Thursday, the federal housing agency said the average rent for a two-bedroom purpose-built apartment, which it uses as its representative sample, grew 5.6 per cent to $1,258 compared with the previous 12-month period. The CMHC said this increase is a new annual high in data going back to 1990. The report also said
VANCOUVER — Canfor Corporation says as many as 157 employees face layoffs in one northern British Columbia town, but the company says it's too early to estimate job losses in a second community as the forest products firm restructures its B.C. operations. Canfor announced Wednesday that it is permanently closing its sawmill and pellet plant in Chetwynd, west of Dawson Creek, and shuttering its sawmill in the Bulkley Valley town of Houston for an unspecified period while it builds a new facility
What is called socialism today is just a poorly functioning version of capitalism
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Laura Jones: Reducing red tape will minimize wasted time, money and stress for those both administering and complying with the rules
Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the fastest annual gain in nearly 42 years and keeping the central bank under pressure to phase out economic stimulus. While the government's energy subsidies starting next month will likely moderate price gains from February, the data heightens the chance that inflation will stay well above the Bank of Japan's 2% target in coming months as companies continue to steadily pass on higher costs to households. The rise in the Tokyo core consumer price index (CPI), which excludes fresh food but includes fuel, exceeded a median market forecast for a 4.2% gain and marked the fastest year-on-year increase since May 1981.
Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week's Federal Reserve monetary policy meeting. All three major U.S. stock indexes ended the session green, with the Nasdaq, powered by megacap momentum stocks, enjoying the biggest gain. From last Friday's close, the S&P and the Dow posted their third weekly gains in four, while the tech-laden Nasdaq notched its fourth straight weekly advance.
Federal prosecutors are trying to prohibit FTX founder Sam Bankman-Fried from privately contacting current and former employees of the bankrupt cryptocurrency exchange to prevent potential witness tampering in a criminal case accusing him of bilking investors and customers. The request, made in a letter filed late Friday by U.S. Justice Department lawyers, prompted an indignant response from Bankman-Fried's lawyer, who accused prosecutors of twisting the facts to cast the FTX founder in a sinist
U.S. Democratic Senators Elizabeth Warren and Ron Wyden are calling on the country's accounting watchdog to increase oversight of firms that audit cryptocurrency companies in the wake of the collapse of crypto exchange FTX. In a letter to the U.S. Public Company Accounting Oversight Board (PCAOB) made public on Thursday, Warren and Wyden questioned the agency, which oversees registered public accounting firms around the world, as to why auditing firms working with FTX failed to identify corporate mismanagement and the lack of internal controls that federal prosecutors have alleged.
WASHINGTON (Reuters) -The United States has secured a deal with the Netherlands and Japan to restrict exports of some advanced chip-making machinery to China in talks that concluded on Friday, Bloomberg reported, citing people familiar with the matter. The agreement would extend some export controls the United States adopted in October to companies based in the two allied nations, including ASML Holding NV, Nikon Corp and Tokyo Electron Ltd, the report said. Officials from the Netherlands and Japan were in Washington discussing a wide range of issues in talks led by White House national security adviser Jake Sullivan.
TOKYO (Reuters) -Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. In recent years Toyota has become a target of activists and green investors who had once heralded its hybrid technology, but who now slate its belated embrace of electric vehicles (EVs).
Morgan Stanley's infrastructure investment arm informed the board of German renewables firm PNE AG that it is no longer pursuing talks with potential buyers of Photon's PNE stake, PNE said in an adhoc statement on Friday. Morgan Stanley Infrastructure Partners (MSIP) which acquired the PNE stake following a failed takeover attempt in 2020, was weighing a sale last October, Reuters reported at the time. Photon, which is controlled by Morgan Stanley, is PNE's largest shareholder.
German arms maker Rheinmetall had a record year in 2022 and is approaching an order backlog of 30 billion euros, CEO Armin Papperger told Reuters in an interview. "We are approaching an order backlog of 30 billion euros, and I expect to see an order backlog of 40 billion euros next year," said the CEO of the company, which sells a whole range of defence products but is probably most famous for supplying the 120mm gun of the Leopard 2 tank. Papperger said he expected to see at least 15% to 20% growth in Rheinmetall's defence division over the coming years, with the civilian business likely to account for only 20% of sales in 2025.