Merck inks £1.1bn deal for cancer drug developer Imago November 21, 2022 American pharmaceutical giant Merck has today inked a $1.35bn (£1.14bn) deal for cancer drug developer Imago BioSciences. The offer of $36 (£30.4bn) a share represents a nearly 107 per cent premium on the company’s last closing price. The deal is intended to bolster Merck’s portfolio of blood disorder treatments, with onlookers expecting the company’s blockbuster [...]
Arm delays IPO plans as recession shakes markets November 20, 2022 British chipmaker Arm has pushed back its plans for an initial public offering this year as markets are rocked by recessionary fears and soaring inflation.
Nvidia stock dips after share earnings miss expectations November 18, 2022 Shares in Nvidia have slipped today after the chipmaker’s earnings per share scraped the bottom of analyst forecasts. The US tech giant snagged $0.58 a share versus the $0.70 that was expected by onlookers. Nvidia did however sail past revenue expectations, securing $5.93bn in the third quarter, above estimates of $5.79bn. The company, which specialises [...]
Hunt pushes to make UK ‘the world’s next Silicon Valley’ November 17, 2022 The Chancellor has vowed to turn Britain into “the world’s next Silicon Valley,” stating that the key to global success was “not tax subsidies but competition”. In his Autumn statement, Jeremy Hunt restated the government’s commitment to pushing through legislation that would activate the Digital Markets Unit (DMU). Under the current draft Digital Markets Bill, [...]
Starry-eyed investors: Seraphim Space more than doubles portfolio value 12-months November 17, 2022 Seraphim Space Investment Trust (SSIT) has more than doubled its portfolio value over the past year, as space tech continues to lure in investors. The Trust’s portfolio valuation swelled more than 11 per cent to £207m in the three months to the end of September – more than double what it was 12-months ago. Seraphim’s [...]
Tencent vows to ‘distribute’ $20.3bn Meituan shares to investors November 16, 2022 Tencent has vowed to give its shareholders $20.3bn (£17.4bn) worth of shares in Chinese food delivery firm Meituan as it seeks to reduce its holdings in China’s tech sector. The Shenzhen conglomerate’s “special dividend” comes as its sales dropped two per cent year-on-year, to £16.6bn, on the back of a five per cent drop in [...]
A little birdwatching: Are tech firms like Musk’s Twitter ready for regulation? November 16, 2022 ELON MUSK’s dramatic takeover of Twitter – complete with firing the entire management team and half the staff – has been the talk of, ahem, Twitter for the past week, as well as much of the rest of the world. It has also divided opinion amongst the most strongly politically engaged. Many on the right [...]
Novartis mulling billion-dollar sales of ophthalmology and respiratory units November 16, 2022 Novartis is reportedly mulling the sales of two of its divisions, which could flood the pharma giant with billions new capital. The Swiss-American pharma giant is engaged in early discussions for the sale of its ophthalmology and respiratory units, Bloomberg first reported, citing people familiar with the matter. The divisions, non-core assets for the firm, [...]
TikTok tackles US data woes head-on and digs at Twitter November 16, 2022 THE CHIEF of TikTok said the video-sharing giant was pumping heaving investment into US data security in a bid to allay fears from across the Atlantic. Speaking at the Bloomberg New Economy Forum in Singapore earlier today, TikTok boss Shou Zi Chew said the firm was working on ‘Project Texas’, which would isolate sensitive data [...]
UK one step closer to space nation status with first-ever launch licence secured November 16, 2022 The UK is yet another step closer to becoming a space nation, with the Cornwall spaceport securing the country’s first-ever licence today. Richard Branson’s rocket company Virgin Orbit will take the title as the first business to launch from British soil before the end of the year. The company completed its full wet dress rehearsal [...]
