Author: Press Room

© Reuters. BioMarin Pharma (BMRN) gains on report Elliott has a stake Activist investor Elliott Investment Management has acquired a stake in BioMarin Pharmaceutical (NASDAQ:), according to Reuters. The hedge fund has engaged in discussions with the biotechnology company regarding its future. Elliott, which is overseeing approximately $60 billion in assets, invested over $1 billion in BioMarin, the report added. BioMarin’s market cap stood at $14.34 billion through Monday’s close. BioMarin’s shares have seen a 24% decline year-to-date, significantly underperforming the iShares Biotechnology ETF, which has a decrease of 8.6%. Shares added 9.5 in early Tuesday trade on Reuters’ reporting.…

© Reuters. Bunches of black grapes harvested from the vines at the Chateau Haut Brion are pictured in Pessac, near Bordeaux, France, September 18, 2019. REUTERS/Regis Duvignau/File photo PARIS (Reuters) -World wine production is expected to fall to its lowest level in 60 years in 2023 due to poor harvests in the Southern Hemisphere and in some major European producers, the International Organisation of Vine and Wine (OIV) said on Tuesday. In initial projections, the OIV pegged world wine output, excluding juices and musts, at between 241.7 million and 246.6 million hectolitres (mhl), with a mid-range estimate of 244.1 mhl.…

Alexi J. Rosenfeld Monday.com (NASDAQ:MNDY) rose 1.9% premarket on Tuesday after getting an upgrade at DA Davidson. The bank bumped its rating on Monday.com (MNDY) to Buy from Neutral and reiterated a $170 price target on the stock. DA Davidson attributed recent stock weakness to the company’s “founding and headquarters in Israel” amid “recent tragic events in the region and the increased perception of geopolitical risk.” From October 6 through November 6, Monday.com (MNDY) declined 18%, compared to iShares Expanded Tech-Software Sector ETF being flat for the period. Peers Asana (ASAN) rose 11% and Smartsheet (SMAR) fell 7%. The bank…

As voters head to the polls in key races in multiple states on Tuesday, it is crucial to know the importance of casting a ballot on Election Day despite this one not taking place in a presidential election year.One of the main reasons voters in Mississippi, Kentucky and Virginia should show up to the polls is that every one of the races is well within the grasp of either party to win, so turnout is crucial for each side making their case as to why they are the best choice for your vote.In Kentucky, voters will determine whether to re-elect…

OpenAI plans to offer assistance to customers that are facing copyright lawsuits.Sam Altman announced the policy during a keynote speech at OpenAI’s first developer day conference.The move is likely aimed at reducing consumer anxiety around unresolved copyright claims.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app OpenAI CEO Sam Altman said the company would protect customers that were facing copyright lawsuits.Altman said during a keynote speech at OpenAI’s first developer day conference the company would “defend our customers” by paying “the costs incurred if…

WASHINGTON, DC – DECEMBER 14: Demonstrators rally outside the Federal Communication Commission … [+] building to protest against the end of net neutrality rules December 14, 2017 in Washington, DC. Lead by FCC Chairman Ajit Pai, the commission is expected to do away with Obama Administration rules that prevented internet service providers from creating differnt levels of service and blocking or promoting individual companies and organizations on their systems. (Photo by Chip Somodevilla/Getty Images)Getty Images The Federal Communications Commission (FCC) recently voted to advance a proposal aimed at resurrecting the previously rescinded net neutrality rules. This move comes five years…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.In the mid-1990s, an executive at the HBO cable network gave the scriptwriter Tom Fontana $1mn to develop a pilot episode for a series about life inside a tough American prison. The exec then asked Fontana an unusual question: “What’s the one thing you’re never allowed to do on broadcast television?” “Kill the lead [character] in the pilot,” Fontana replied. Albrecht’s response was swift: “Do it.” In the opening episode of Oz in 1997, Fontana set his protagonist on fire, kicking off…

© Reuters. SAO PAULO (Reuters) – Brazil’s central bank director Gabriel Galipolo said on Tuesday the country’s current pace of interest rate cuts is appropriate as it allows policymakers to adjust the level of monetary contraction while also analyzing how multiple scenarios unfold. Galipolo said foreign exchange rates and oil prices have trended well recently but flagged caution is still needed as the international scenario remains unclear. Brazil has been cutting rates at a pace of 50 basis points per meeting since August.    

© Reuters. Swedish fintech firm Klarna is preparing for an initial public offering (IPO) after meeting key prerequisites, including establishing a US presence, demonstrating a sustainable business model, and showing substantial growth potential, according to CEO Sebastian Siemiatkowski. The company’s listing is speculated to take place next year, following the establishment of a new UK-based holding company. However, it remains uncertain whether the listing will occur in London or New York. Klarna has been working on a restructuring plan in collaboration with its major shareholders to simplify its corporate structure ahead of the listing. This development comes on the heels…

© Reuters. The KfW Development Bank, backed by the EU and German Federal Ministry, is investing $21 million in Mozambique’s renewable energy sector through the GET FiT program. The initiative aims to stimulate private sector investments in renewable energy infrastructure, with a focus on private solar projects and small-scale hydropower plants. Marco Freitag, KfW Portfolio Manager, emphasized the potential of hydropower to supply eco-friendly energy and spur economic growth. The investment seeks to attract Independent Power Producers (IPPs) with tariff subsidies, simplify their market entry through standardized contracts, and connect hydropower plants to the national grid in northern and central…