Austria has agreed to a smaller-than-expected bailout package for Lufthansa unit Austrian Airlines of 450 million euros ($508 million) in loans and grants, people familiar with the matter said on Monday.
EU antitrust enforcers, boosted by recent court victories, on Monday reinforced their case against Israeli drugmaker Teva over its deal with rival Cephalon to delay selling a generic version of its sleep disorder drug modafinil.
(Bloomberg) — A merger of drugmakers AstraZeneca Plc and Gilead Sciences Inc. is unlikely, according to analysts, after Bloomberg News reported that the U.K. company made a preliminary approach to its U.S. peer last month.Political opposition from both Britain and America could derail any attempt at a deal, especially given the backdrop of the Covid-19 outbreak, Citi said. The timing is also questionable, as while Gilead is in the middle of a turnaround, AstraZeneca is well positioned and has a strong pipeline, analysts said.Yet there is potential for synergies, and Gilead could compliment AstraZeneca’s portfolio in the areas of virology …read more […]
New figures show that Tesla Inc (TSLA) sold 11,095 Shanghai-made Model 3 vehicles in China in May, reports Reuters.This is more than triple the volume seen in April, according to the China Passenger Car Association (CPCA).The CPCA previously revealed that the electric-vehicle maker sold 3,635 vehicles in April- a dramatic 64% drop from the 10,160 units sold in March.Notably, CPCA uses a different counting method than Tesla’s deliveries.Shares in Tesla have now more than doubled on a year-to-date basis, and are currently trading up 2% in Monday’s pre-market trading.With shares at such high levels, analysts are taking a cautious stance …read more […]
(Bloomberg) — Accounting firm Ernst & Young was sued over its work for Wirecard AG, just two days after Wirecard’s headquarters were raided as part of a market manipulation probe.The German lawsuit alleges that EY failed to flag that 1 billion euros ($1.1 billion) in assets were improperly booked on the payment processor’s 2018 accounts, Wolfgang Schirp, a lawyer for private investors, said in a statement on Monday.The suit adds to a list of criticism over EY’s work, which peaked Friday with a London judge slamming the firm for its treatment of a whistle-blower during a trial that ended earlier …read more […]
(Bloomberg) — Morgan Stanley strategists added a bet on a steeper Treasury yield curve, seeing the potential for a “regime shift” in the wake of a rapidly improving U.S. economy.“In the blink of an eye, that seems about how quickly the economic narrative has tilted in favor of a V-shaped recovery versus a slow and prolonged one,” Guneet Dhingra, head of U.S. interest-rates strategy in New York, wrote in a June 5 note. History suggests that, after a period when 30-year yields led longer-dated rates higher, it’s time for 10-year rates to become the key driver, he wrote.The bank added …read more […]
As New York city reopens Monday, California and some other states see coronavirus cases rise; a new poll reveals partisan divides over the pandemic; Brazil, a global hotspot for the virus, stops reporting coronavirus numbers. WSJ’s Shelby Holliday has the latest. Photo: Richard Vogel/AP …read more […]
The largest protests following the killing of George Floyd remained mostly peaceful this weekend; Minneapolis city council members agreed to begin the disbanding of the police department; in Seattle, a man drove a car into a crowd and shot a protester. Photo: Lindsey Wasson/Reuters …read more […]
U.S. stock index futures rose on Monday as a surprisingly upbeat jobs report last week added to optimism that the world’s biggest economy has weathered the worst fallout of the coronavirus outbreak.
California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.
It was a dark, moonless night… the final few hours of a chilly Veteran’s Day.
The warden was parked on the side of the dusty dirt road. His window was rolled down, and the radio was off. The 31-year-old officer inside sat quietly, listening.
Around 11:30, he heard what he was waiting for.
A single gunshot. A drunken poacher had just put his pistol out of the window of his truck and shot a deer.
The warden did his job.
He fired up his rig and found the shooter.
Under the strobing red and blue lights, he could see two men in the truck. He radioed …read more […]
Britain’s quarantine plan was rushed into existence, is out of proportion and should be challenged in the courts, according to the head of easyJet which has joined rivals in threatening legal proceedings.
World stocks inched higher on Monday, adding to a 42% surge from their March lows, as a surprise jump in last week’s U.S. employment data fuelled hopes of a quicker global economic recovery from the coronavirus pandemic.
Louisiana governor declared a state of emergency as Tropical Storm Cristobal came ashore Sunday. The storm is hampering some coronavirus efforts in the state while reducing oil production by about one-third in the Gulf of Mexico. Photo: Gerald Herbert/Associated Press …read more […]
Power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings to partially fund its emergence from Chapter 11 bankruptcy.
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