Articles by Editor

Zhong Shanshan’s net worth reached $58.7bn thanks to his water and vaccine firms. …read more […]

The cinema chain warns it may need to raise more money in the event of further coronavirus restrictions. …read more […]

ChargePoint Inc, one of the world’s oldest and largest electric vehicle charging networks, said on Thursday it will go public by merging with Switchback Energy Acquisition Corp in a deal that values the company at $2.4 billion. The deal is expected to close near the end of the year and the company will be named ChargePoint Holdings Inc. A trading symbol on the New York Stock Exchange has not been identified. Reuters last week reported ChargePoint and Switchback were nearing a deal. …read more […]

(Bloomberg) — Before the pandemic emptied the city, few lenders benefited from the heady local real estate market as much as regional players New York Community Bancorp Inc. and Signature Bank.Now they’re becoming a case study for potential trouble from a sudden downturn in the Big Apple’s property sector, and their share prices are suffering. New York Community Bancorp and Signature were among the top five most-active lenders in New York in the first half of the year, and almost all of their portfolios are tied to the area.With retail and apartment vacancies rising and rents falling, and with the …read more […]

AstraZeneca is still waiting for the U.S. drug regulator to approve the restart of the clinical trial of its potential COVID-19 vaccine in the United States almost three weeks after it was paused due to safety concerns. The U.S. trial of AstraZeneca’s COVID-19 vaccine candidate, initially developed by the University of Oxford, remains on hold while regulators investigate an illness in one of the participants, even after a British study and other programmes outside of the United States have resumed. …read more […]

(Bloomberg) — Oil dropped toward $39 a barrel — even after a decline in American crude and fuel stockpiles — following warnings over global energy demand and the state of the U.S. economy.Futures in New York fell 1% after rising for a second day on Wednesday. Federal Reserve officials stressed that more fiscal stimulus is critical to sustain the U.S. economic recovery, while the head of commodities trader Mercuria Energy Group said that global oil markets won’t be able to absorb OPEC+ production increases as demand remains weaker than expected.That was after the market found support on Wednesday from Energy …read more […]

The head of the United States Food and Drug Administration’s vaccine advisory committee has recused herself from the panel due to her involvement in supervising the clinical trial of Moderna Inc’s (NASDAQ: MRNA) COVID-19 vaccine, Reuters reported Wednesday.What Happened: Hana El Sahly, an associate professor of virology and microbiology at the Houston-based Baylor College of Medicine, assumed the chair of FDA’s Vaccines and Related Biological Products Advisory Committee last year.The panel of outside experts is tasked with recommending whether COVID-19 vaccines should get the approval of the agency.El Sahly also took charge as one of the three principal investigators for …read more […]

(Bloomberg) — HSBC Holdings Plc’s tumbling stock price is testing the patience of even the bank’s most loyal investors.Choi Chen Po-sum, a former vice chair of Hong Kong’s exchange who has owned HSBC shares for more than 40 years, now calls her investment a mistake. Simon Yuen, a money manager who has lobbied unsuccessfully for the bank to reinstate its dividend, says the stock’s slump to a 25-year low may have further to go. Ping An Insurance Group Co., HSBC’s biggest shareholder, has passed on opportunities to express confidence in the bank, saying only that its holding is a “long-term …read more […]

CrowdStrike Holdings has agreed to acquire Preempt Security in a cash-stock deal valued at $96 million. Under the terms of the transaction, the cloud-based cybersecurity provider would pay approximately $86 million in cash and the remaining $10 million in its common stocks. The company expects the acquisition to be completed during its third-quarter fiscal 2021.With the acquisition, CrowdStrike (CRWD) expects to offer enhanced Zero Trust security capabilities. Moreover, the company plans to strengthen its Falcon platform. Founded in 2014, Preempt is the first cybersecurity firm to offer “Zero Trust and Conditional Access solution for continuously detecting and preempting threats based …read more […]

Spot gold was down 0.4% to $1,855.72 per ounce by 0351 GMT, extending falls into a fourth session. U.S. gold futures were down 0.3% to $1,863.60. The dollar index held firm near a more than eight-week high against rival currencies, as signs of an economic slowdown in Europe and the United States revived concerns about the fallout from a second wave of COVID-19 infections. …read more […]

The technology is improving online shopping via a virtual try-on approach. …read more […]

Gilead Sciences, Inc (NASDAQ: GILD) has agreed to pay $97 million to settle allegations that it illegally paid for Medicare co-pays for its own pulmonary arterial hypertension drug Letairis through a charitable entity.What Happened: The Foster City, California-based drugmaker allegedly used a conduit foundation named Caring Voice Coalition (CVC) even though it was prohibited from doing so under the Anti-Kickback Statute, according to a statement issued by the U.S. Department of Justice.”Gilead used CVC to cover the patients’ co-pays in order to induce those patients’ purchases of Letairis,” the Justice Department claimed. “Gilead knew that the prices it set …read more […]

Volkswagen AG (OTC: VWAGY) held a “digital world premier” for its ID.4 electric SUV on Wednesday.What Happened: The electric SUV has a range of almost 320 miles and a top speed of nearly 100 miles per hour, Volkswagen said in a statement. The suggested retail price for the vehicle in the United States is $40,000, according to The Verge. Rival Tesla Inc (NASDAQ: TSLA) prices the “long range” Model 3 sedan at $40,690, as per its website. That vehicle delivers a range of 322 miles and a top speed of 145 miles per hour.The lowest-cost version of the yet to …read more […]

(Bloomberg) — From building Hong Kong’s largest shopping mall to constructing a sprawling $3.9 billion sports center, Adrian Cheng has been one of the most aggressive property investors in town. It’s a costly expansion strategy that’s now poised to test one of the city’s oldest real-estate empires.Cheng, 40, became chief executive officer of New World Development Co. in May, cementing his position after taking over from his father Henry a few years ago. But even as he ascended to the top, Cheng championed ambitious real-estate developments in the financial and tourism hub worth about $5 billion. Conceived on the assumption …read more […]

The large fine would lift a regulatory shadow that has hung over the bank for several years and mark a signature victory for the government’s efforts to clamp down on illegal trading techniques, such as spoofing, especially in the precious metals markets. JPMorgan has said in public filings https://jpmorganchaseco.gcs-web.com/node/338201/html that it was in discussions with authorities about resolving the investigations. The settlement with the Department of Justice, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) could come as soon as this week and is not expected to result in any restrictions on the …read more […]