Unrest in Hong Kong over Beijing’s proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy.
Regeneron Pharma (REGN) has now announced the pricing of the underwritten public secondary offering of 11,831,496 shares of its common stock held by French drugmaker Sanofi at a price of $515 per share.Regeneron has also agreed to purchase 9,806,805 shares directly from Sanofi, at a price of $509.85 per share (representing the price paid by the underwriters in the offering), for an aggregate purchase amount of $5 billion.In connection with the offering, the underwriters have a 30-day option to purchase up to an additional 1,183,150 Regeneron shares from Sanofi, the statement revealed. If the underwriters fully exercise their option to …read more […]
Tesla Inc. (TSLA) is said to cut prices of its electric vehicles by as much as 6% in North America in response to the downturn in auto demand in the area amid the lockdown orders tied to the coronavirus pandemic.According to Reuters, Tesla lowered prices for the Models S, 3, and X in North America as its Fremont factory in California recently resumed production. In China, Tesla will cut the price for its Models S and X by about 4%.The vehicle maker also said its Supercharger quick-charging service will no longer be free to new customers of its Model …read more […]
Ryanair expects Britain to join other European countries in dropping COVID-19 quarantine plans in the coming weeks, chief executive Michael O’Leary said in an interview on Wednesday as he reported a “big surge” in holiday bookings from the country.
Renault SA , Nissan Motor Co and Mitsubishi Motors have no plans to merge and will instead focus on a new production sharing plan to cut costs and improve efficiency, Chairman Jean-Dominique Senard said on Wednesday.
Turkish Airlines , which halted nearly all of its passenger flights as a result of the coronavirus crisis, may delay the delivery of some Boeing and Airbus planes, its chairman was quoted as saying on Wednesday.
China’s top electric vehicle (EV) battery maker Contemporary Amperex Technology Ltd (CATL) is exploring new battery-related services and will expand manufacturing capacity in the next two years, its chairman told Reuters. Ningde-based CATL, which alongside LG Chem and Panasonic is one of the biggest EV battery makers globally, is developing battery-swapping and battery maintenance services, its chairman Zeng Yuqun said on Wednesday. It will also expand recycling capabilities in China and invest in similar businesses overseas, Zeng added in a written response to Reuters questions. …read more […]
Renault , Nissan Motor Co and Mitsubishi Motors Corp said on Wednesday they would each take a lead on car manufacturing in different regions in a wide-ranging revamp of their partnership to slash costs and survive.
Renault Chairman Jean-Dominique Senard said on Wednesday that relations with the French government were fine, even as the state continues to haggle over finalising a 5 billion euros ($5.5 billion) loan for Renault.
Renault Chairman Jean-Dominique Senard said on Wednesday that there was no need for a merger with its partners Nissan and Mitsubishi .
H&M , the world’s second-biggest fashion retailer, said on Wednesday it expects the 2,500 furloughed staff at its headquarters in Stockholm to be able to return to work by July.
Swiss drugmakers Roche and Novartis released data on Wednesday on treatments aimed at winning sales from each other in eye disease and multiple sclerosis, in a sign of rising rivalry. Facing each other across the Rhine in Basel, the drugmakers have clashed and cooperated over the years, but their latest products point to more direct competition. Roche Chief Executive Severin Schwan is looking beyond cancer drugs to fresh treatment areas, while Novartis CEO Vas Narashiman bulks up in the same territory. …read more […]
The U.S. dollar edged higher on Wednesday and China’s yuan hit a near nine-month low as worries about the U.S. response to China’s proposed security law for Hong Kong injected a more cautious tone into foreign exchange markets.
Renault, Nissan Motor Co and Mitsubishi Motors Corp said on Wednesday that they aimed to produce nearly half of their car output under a new alliance scheme dividing up their production by 2025.
Renault SA, Nissan Motor Co and Mitsubishi Motors Corp on Wednesday announced details of a new strategy plan pledging to deepen cooperation in developing and producing cars to survive as an automaking group.
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