Germany threw Lufthansa a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline.
(Bloomberg) — French drug giant Sanofi is selling a stake in Regeneron Pharmaceuticals Inc. valued at about $13 billion.Regeneron has agreed to repurchase $5 billion of its stock from Sanofi, the companies said on Monday. Regeneron said Sanofi also plans to sell approximately 12.8 million shares through a public offering.The announcement is part of Sanofi Chief Executive Officer Paul Hudson’s revamped strategy for the drugmaker. Sanofi announced in December that it would end its hunt for new diabetes and heart disease drugs, helping save more than $2 billion, and focus on fast-growing fields such as cancer.Sanofi currently holds about 23.2 …read more […]
France’s business elite closed ranks around publishing group Lagardere on Monday with LVMH’s Bernard Arnault and Vivendi’s Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital.
Toyota Motor Corp’s Mexico unit is in a preparation phase for the gradual re-start of its operations in the states of Baja California and Guanajuato, a spokesman told Reuters on Monday.
What do a jazz school, a yeshiva, and a dog training academy have in common?
They were all allocated hundreds of thousands of dollars by the Department of Education (ED) to help them weather the coronavirus pandemic. …read more […]
Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them.
May.25 — Dominic Cummings, one of U.K. Prime Minister Boris Johnson’s closest allies, refused to quit, refuting claims he flouted coronavirus-lockdown rules that he had helped to draft. The main charge against him is that he ignored government guidelines by driving more than 250 miles to his parents’ complex of houses in northeast England in early April to seek childcare support for his four-year-old son. “In this very complex situation I tried to exercise my judgment the best I could,” Cummings, 48, told reporters in the rose garden of Johnson’s Downing Street residence Monday. …read more […]
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(Bloomberg) — Germany will offer Deutsche Lufthansa AG a 9 billion-euro ($9.8 billion) bailout that thrusts the state back into the heart of a company privatized with fanfare two decades ago.The aid package involves taking an initial 20% stake that could rise to a blocking minority of 25% plus one share in the event of a hostile takeover, the carrier said in a statement on Monday. The plan, which requires European Union approval and will almost certainly be challenged by rival airlines such as Ryanair Holdings Plc, gives Germany an effective veto over company strategy.German Finance Minister Olaf Scholz said …read more […]
Stocks gained modestly on Monday with many countries on holiday as German business morale rebounded strongly in May, offering a glimpse of optimism to battered investors of what lay beyond weeks of economic lockdowns.
The German government and Lufthansa , which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.
Germany’s new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa , Germany’s flagship carrier said on Monday.
Germany’s rescue package for flagship carrier Lufthansa is a “very, very good solution” that is taking into account the needs of both the company and taxpayers, Finance Minister Olaf Scholz said on Monday.
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