Month: August 2020

(Bloomberg) — Sanofi plans to acquire San Francisco, California-based Principia Biopharma Inc in a deal with an enterprise value of $3.4 billion as the French drugmaker pivots toward innovative therapies to spur growth.The all-cash deal will see Sanofi taking full control of the American company which focuses on treatments for multiple sclerosis and a range of autoimmune disorders, the company said in a statement Monday. Bloomberg reported last month that Sanofi is studying potential acquisitions of U.S. biotechnology firms, including Principia.Sanofi will pay $100 per share, according to the statement, representing a 10% premium over the Friday closing price of …read more […]

The pandemic initially cut global fuel demand 30% and refiners temporarily idled plants. * Royal Dutch Shell will permanently shut its 110,000-barrel-per-day Tabangao facility in Philippines’ Batangas province, one of only two oil refineries in the country. Shell blamed a pandemic-led slump in margins for turning the plant into an import terminal. …read more […]

Stocks are mostly flat on mixed economic data and looked to Washington for clues on further coronavirus stimulus. …read more […]

China’s vaccine specialist CanSino Biologics Inc has won a patent approval from Beijing for its COVID-19 vaccine candidate Ad5-nCOV, state media reported, citing documents from the country’s intellectual property regulator. It is the first COVID-19 vaccine patent granted by China, state-owned newspaper People’s Daily reported on Sunday. The paper cited documents published by China’s National Intellectual Property Administration saying that the patent was issued on Aug. 11. …read more […]

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The IBM-designed Power10 chip will be manufactured by Samsung Electronics Co Ltd and is meant for use by businesses inside data centers, IBM said. The chip will use Samsung’s 7-nanometer chip manufacturing process, which is similar to the 7-nanometer technology that Advanced Micro Devices Inc uses to have its chips made by Taiwan Semiconductor Manufacturing Co Ltd. …read more […]

The IBM-designed Power10 chip will be manufactured by Samsung Electronics Co Ltd and is meant for use by businesses inside data centers, IBM said. The chip will use Samsung’s 7-nanometer chip manufacturing process, which is similar to the 7-nanometer technology that Advanced Micro Devices Inc uses to have its chips made by Taiwan Semiconductor Manufacturing Co Ltd . …read more […]

Spot gold was down 0.2% to $1,940.73 per ounce by 0258 GMT. Gold fell 4.5% last week in its biggest decline since March as investors reassessed their positions after bullion retreated from a record peak of $2,072.50 scaled on Aug. 7. U.S. gold futures were flat at $1,950.50. …read more […]

Aug.16 — New Zealand is battling its first coronavirus outbreak in more than three months and that’s forced Prime Minister Jacinda Ardern to postpone the general election by 4 weeks. Bloomberg’s Tracy Withers reports on “Bloomberg Daybreak: Asia.” …read more […]

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Aug.16 — The U.S. House of Representatives will return from recess early for hearings on the crisis at the U.S. Postal Service for funding cuts and threatened voting in November’s election. Bloomberg’s Ros Krasny reports on “Bloomberg Daybreak: Asia.” …read more […]

Aug.16 — China and the U.S. have postponed indefinitely trade talks that were due to happen over the weekend. No official reason has been given. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]