Year: 2020

Sep.13 — Ichiro Fujisaki, a former Japanese ambassador to the U.S., discusses how the leadership change in Japan will affect the bilateral relations. Japanese Chief Cabinet Secretary Yoshihide Suga is the front-runner to become the next prime minister. Fujisaki speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — The recent pullback in U.S. stocks could be close to an end if history is a guide, according to strategists at Goldman Sachs Group Inc. and Deutsche Bank AG.Its magnitude has matched a “typical” selloff in the S&P 500 since the financial crisis, albeit at a faster pace, wrote a team led by Goldman’s David Kostin in a note Friday. And options positioning — at the core of the weakness — has normalized, noted their counterparts at Deutsche including Srineel Jalagani the same day.“Despite the sharp sell-off in the past week, we remain optimistic about the path of …read more […]

ByteDance has been in talks to sell TikTok’s U.S. business since U.S. President Donald Trump threatened last month to ban the service if it was not sold. The deal will be structured not as a sale but as a restructuring, the source said, without disclosing how much of TikTok’s U.S. operations ByteDance and its investors will continue to own. …read more […]

(Bloomberg) — Microsoft Corp. said its bid for TikTok’s U.S. operations was rejected by ByteDance Ltd., the Chinese parent of the video-sharing social site.“ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft,” Redmond, Washington-based Microsoft said in a statement. “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”Microsoft, which was working with Walmart Inc., had been seen as the more likely winner earlier in the process, but its talks have cooled, a person with knowledge of the matter said earlier today. Microsoft hadn’t been asked to …read more […]

SoftBank Group Corp said on Monday it has agreed to sell chip designer Arm to Nvidia Corp for as much as $40 billion in a deal set to reshape the semiconductor landscape. The sale will see chip firm Nvidia acquire all of Arm’s shares in return for cash and shares, giving SoftBank and the $100 billion Vision Fund, which has a 25% stake in Arm, a stake in Nvidia of between 6.7% and 8.1%. Nvidia will pay SoftBank $21.5 billion in shares and $12 billion in cash, including $2 billion on signing. …read more […]

(Bloomberg) — Oracle Corp.’s negotiations for TikTok’s U.S. operations have intensified in recent days in a sign that the software maker is gaining the upper hand over its main rival, Microsoft Corp., people with knowledge of the matter said.A decision could come in the next couple of days, one of the people said. Early offers from both parties valued the U.S. business at about $25 billion, but that was before Chinese officials weighed in with new rules imposing limits on technology exports, and the terms may have also changed, the people said, asking not to be identified as the information …read more […]

(Bloomberg) — Nvidia Corp. said it agreed to buy SoftBank Group Corp.’s chip division Arm Ltd. for $40 billion, taking control of some of the most widely used technology in electronics in the semiconductor industry’s largest-ever deal.Nvidia will pay $21.5 billion in stock and $12 billion in cash for the U.K. based-chip designer, including a $2 billion payment at signing. Softbank may receive an additional $5 billion cash or stock if Arm’s performance meets certain targets, the companies said Sunday in a statement. An additional $1.5 billion will be paid to Arm employees in Nvidia stock.The initial payment to SoftBank …read more […]

(Bloomberg) — U.S. equity futures pointed higher Monday as investors looked ahead to a Federal Reserve meeting that could provide clues on the policy outlook. Asian stocks looked set for a muted start.Futures were little changed in Japan and Australia, while S&P 500 contracts were up about 0.5%. Global stocks are coming off the back of the first consecutive weeks of declines since March. Currency markets saw muted moves as trading began Monday. Gold was steady and crude oil slipped.With the Fed expected this week to maintain its dovish stance on policy, investors will continue to look out for signs …read more […]

(Bloomberg Opinion) — Gilead Pharmaceuticals Inc. has faced the same problem for years: The drugmaker has a strong core business in its world-leading HIV franchise, but it hasn’t been able to consistently grow beyond that base the way it should. Against that backdrop, you’d think a more aggressive M&A strategy would be cause for celebration. The devil, as always, is in the details.Gilead’s $21 billion purchase of New Jersey-based biotechnology firm Immunomedics Inc. and its promising breast cancer drug Trodelvy, announced Sunday afternoon, certainly qualifies as a bold move. At $88 a share, the acquisition represents a more than 100% …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Dan Henninger and Allysia Finley. Images: AP/AFP/Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: Biden and Harris hit Trump on the vaccine race. Image: AFP/Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: Mail-in voting creates a dangerous election morass. Image: U.S. Supreme Court/Franz Jantzen/Courtesy of Getty Images …read more […]

The deal provides Gilead access to Immunomedics’ breast cancer treatment drug, Trodelvy, which was granted an accelerated FDA approval in April. Gilead said it would issue a tender offer to buy all the outstanding shares of Immunomedics for $88 per share in cash. …read more […]

In a world dominated by a pandemic, you might wonder how its affecting the 10 biggest pharmaceutical companies in the world in 2020 (click to skip ahead and see the top 3 pharma companies). The pharmaceutical industry is a trillion dollar industry globally, achieving the milestone for the first time in 2014, and the biggest […] …read more […]

Shareholders of Tesla Inc. (NASDAQ: TSLA) approved a compensation plan for CEO Elon Musk back in 2018 that may complicate future inclusion in the S&P 500.What Happened: The Wall Street Journal recently reported that Tesla could be disqualified for a long time from S&P 500 inclusion as the accounting of Musk’s payday hurts the company’s profits. Tesla shares have fallen after not being included in the S&P 500. Why It’s Important: The 2018 compensation plan tied Musk’s earnings to the performance of Tesla’s financials and stock performance. Musk is eligible for twelve payments tied to the market capitalization, revenue, and …read more […]