Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in German pharmaceutical group Merck fell nearly 14 per cent on Wednesday morning after it announced that its experimental multiple sclerosis drug had failed in late-stage trials.Chief executive Belén Garijo said in October that the company hoped evobrutinib could be a blockbuster, defined by the pharmaceutical industry as a drug that generates more than $1bn in annual sales. But on Tuesday night, the company announced it had failed to reduce relapse rates for MS patients compared with teriflunomide, which is produced…

© Reuters. FILE PHOTO: People line up outside a newly reopened career center for in-person appointments in Louisville, U.S., April 15, 2021. REUTERS/Amira Karaoud/File Photo WASHINGTON (Reuters) – U.S. private payrolls increased less than expected in November as the labor market gradually cools. Private payrolls rose by 103,000 jobs last month, the ADP National Employment Report showed on Wednesday. Data for October was revised lower to show 106,000 jobs added instead of 113,000 as previously reported. Economists polled by Reuters had forecast private payrolls rising 130,000. The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead…

© Reuters Shopify (SHOP) slides after Investor Day as analysts rich valuation Shopify (NYSE:) shares fell 1.6% during premarket trading in New York following the e-commerce company’s investor event on Tuesday. Analysts had mixed reactions to the event, with Citi perceiving it as a “slight incremental positive.” However, Citi expressed reservations about the risk/reward into 2024, citing the valuation being back at near-term highs and not deeming it “attractive.” Similarly, Wedbush downgraded shares to Neutral from Outperform, citing valuation. “We come away from the event with increased confidence in our first focus area as the company continues to win share…

© Reuters. FILE PHOTO: Canadian Prime Minister Justin Trudeau holds a press conference on the sidelines of the UNGA in New York, U.S., September 21, 2023. REUTERS/Mike Segar/File Photo By Nia Williams (Reuters) – Canada plans to unveil a framework for its long-awaited oil and gas emissions cap at the United Nations COP28 climate summit in Dubai, the only major only-producing country developing such a policy. Here are details of what it is expected to entail, and what it will mean for the fossil fuel sector: WHAT IS THE OIL AND GAS EMISSIONS CAP? Canadian Prime Minister Justin Trudeau first…

Cobra Acquisitions announces monetization of a portion of the PREPA receivable

Tuscaloosa is used to having the eyes of the nation on it, especially toward the end of the year. (Suffice to say, there is no controversy in Alabama about who made the College Football Playoff, again.)Yet the Republican presidential debate on Wednesday, held on the University of Alabama campus, offers the city of 113,000 a different kind of opportunity. The state has never before hosted a debate in a presidential election cycle, with organizers often eyeing swing states, early voting states or huge population centers as possible locations instead.“For a lot of people, this is going to be their rare…

Have you ever wondered what are the costs associated with running a Family Office?getty Family Offices play a crucial role in managing the wealth of ultra-high-net-worth families and have grown in popularity in recent years. Many families looking to set up a Family Office are concerned about the operational costs, rightfully so. As an expert in Family Office recruitment, my goal is to equip our clients with the essential information needed to establish their Family Office. With that in mind, this article explores the average costs linked to operating a Family Office and investigates the correlation between the costs and…

Battery makers in the EU are being offered €3bn in subsidies as the bloc attempts to catch up with China by jump-starting the electric vehicle industry.The European Commission proposed the sum on Wednesday as part of a prospective deal with the UK to postpone the introduction of tariffs due to hit electric vehicles traded between the two from January 1.Maroš Šefčovič, commission vice-president, said: “By providing legal certainty on the applicable rules and unprecedented financial support to European producers of sustainable batteries, we will bolster the competitive edge of our industry, with a strong value chain for batteries and electric…

© Reuters. FILE PHOTO: FILE PHOTO: A security guard stands beside a logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) posted at the main gate in Manila, Philippines April 28, 2016. REUTERS/Romeo Ranoco/File Photo/File Photo MANILA (Reuters) – The governor of the Philippine central bank said on Wednesday it could either keep interest rates steady or raise them at its policy meeting next week. The central bank, which meets for the last time this year on Dec. 14, kept interest rates steady at 6.5% at its meeting in November after an off-cycle 25-basis point hike on…

© Reuters. Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.27% Investing.com – Saudi Arabia stocks were higher after the close on Wednesday, as gains in the , and sectors led shares higher. At the close in Saudi Arabia, the rose 0.27%. The best performers of the session on the were National Agriculture Development Co (TADAWUL:), which rose 9.87% or 2.38 points to trade at 26.50 at the close. Meanwhile, Riyadh Cables Group Company CJSC (TADAWUL:) added 9.41% or 7.30 points to end at 84.90 and Saudi Enaya Cooperative Insurance (TADAWUL:) was up 8.22% or 1.26…