Month: July 2020

BeiGene (BGNE) and Assembly Biosciences (ASMB) have announced a new collaboration in China for Assembly’s three clinical-stage core inhibitor candidates for the treatment of chronic hepatitis B virus (HBV) infection. Shares in ASMB are surging 9% in Monday’s pre-market trading, while BGNE is up 3%.Under the terms of the agreement, Assembly has granted BeiGene exclusive rights to develop and commercialize ABI-H0731, ABI-H2158 and ABI-H3733 in China, including Hong Kong, Macau, and Taiwan. ABI-H0731 and ABI-H2158 are in ongoing Phase 2 clinical trials and ABI-H3733 is in Phase 1 development.BeiGene will be responsible for development, regulatory submissions, and commercialization in China. …read more […]

Jul.20 — President Donald Trump will meet Monday with Senate Majority Leader Mitch McConnell and Treasury Secretary Steven Mnuchin to begin discussions on a new coronavirus stimulus package. Bloomberg’s Kevin Cirilli reports on “Bloomberg Surveillance.” …read more […]

Noble’s assets will expand Chevron’s presence in the DJ Basin of Colorado and the Permian Basin across West Texas and New Mexico. Chevron’s offer comes more than a year after it was forced to abandon its takeover bid for Anadarko Petroleum Corp, outmaneuvered by Occidental Petroleum Corp’s higher offer. …read more […]

Last week, I began telling you that if you are willing to do some careful thinking and make wise decisions, you can live just as well as Bill Gates on a fraction of his income.
Contrary to popular opinion, most of the best material things in life are affordable. They are not always cheap – quality never is – but they are almost always within the financial reach of middle-class wage earners.
We are going to continue that discussion today, moving on to some other examples.
Food and Drink
Want to have a billion-dollar meal? Take a good bottle of wine, a baguette of …read more […]

NEW YORK, July 20, 2020 /CNW/ — KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has entered into an asset purchase agreement with Briggs & Stratton Corporation (NYSE: BGG) and certain of its wholly-owned subsidiaries (collectively, “Briggs & Stratton” or the “Company”) under which KPS will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million. Briggs & Stratton has filed a motion with the United States Bankruptcy Court for the Eastern District of Missouri seeking the designation of KPS as the stalking horse …read more […]

TikTok, the popular video-messaging app with Chinese roots, is facing global scrutiny as countries consider imposing restrictions on the company. WSJ’s Liza Lin explains why the U.S. government says the quirky platform poses a risk on American smartphones. Photo composite: Sharon Shi …read more […]

(Bloomberg) — Angela Merkel promoted Wirecard AG during a past state visit to China before she was aware of potential irregularities at the payments company.“During her discussions in China, the chancellor mentioned Wirecard along with topics affecting other companies,” Merkel’s deputy spokeswoman Ulrike Demmer said Monday at a regular government press conference in Berlin. “The chancellor definitely wasn’t aware of irregularities at Wirecard at the time,” she added, without specifying the time frame.Wirecard, a member of Germany’s benchmark DAX index, became a national disgrace when it said last month that a quarter of its balance sheet probably doesn’t exist. That …read more […]

Top news and what to watch in the markets on Monday, July 20, 2020. …read more […]

Intel’s autonomous driving unit Mobileye scores another big win, this one with auto giant Ford. …read more […]

Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, said on Monday that it had started the process of a concurrent initial public offering on Shanghai’s Nasdaq-style Star Market and the Hong Kong Stock Exchange. The world’s most valuable tech “unicorn” said in a release that the listings will help the company accelerate its goal of digitising the service industry in China, develop global markets with partners and expand investment in technology and innovation. Ant did not disclose the size, timetable or other details of the offering in the release. …read more […]

AbbVie’s (ABBV) Allergan has told Molecular Partners that it will withdraw application filings with both the European Medicines Agency (EMA) and the Japanese Regulatory Agency (PMDA) for Abicipar pegol, a novel DARPin therapeutic for patients with neovascular (wet) age-related macular degeneration (nAMD).Age-related macular degeneration (AMD) occurs when a part of the retina called the macula is damaged, resulting in disturbance to the central visual field. Wet nAMD is less common but much more serious than dry AMD. Wet AMD is when new, abnormal blood vessels grow under the retina, causing scarring of the macula.In June 26, the U.S. Food and …read more […]

(Bloomberg) — Billionaire Jack Ma’s Ant Group is kicking off its much-anticipated initial public offering, with plans to list simultaneously in Hong Kong and on China’s new tech bourse in Shanghai.The parent of China’s largest mobile payment company is marching toward what could be one of the largest listings seen in years. It was valued at $150 billion in its last funding round. Ant will pursue a dual-listing in Hong Kong and the Shanghai stock exchange’s STAR board, the Hangzhou-based company said in an emailed statement. It’s seeking a valuation of at least $200 billion, people familiar with the matter …read more […]

(Bloomberg) — Billionaire Jack Ma’s Ant Group is kicking off its much-anticipated initial public offering, with plans to list simultaneously in Hong Kong and on China’s new tech bourse in Shanghai.The parent of China’s largest mobile payment company is marching toward what could be one of the largest listings seen in years. It was valued at $150 billion in its last funding round. Ant will pursue a dual-listing in Hong Kong and the Shanghai stock exchange’s STAR board, the Hangzhou-based company said in an emailed statement. It’s seeking a valuation of at least $200 billion, people familiar with the matter …read more […]

Protests in Portland, Ore., continued over the weekend, resulting in fires and clashes with police. Tensions have flared since President Trump deployed federal agents to the city. Now local and state officials want the agents to leave. Photo: Leslie Spurlock/Zuma Press …read more […]

(Bloomberg) — Apple Inc. will soon invite a mainland Chinese company into the exclusive club of global iPhone assemblers, marking the biggest change to a decade-old production model just as Washington-Beijing tensions escalate.Luxshare Precision Industry Co. struck a deal to acquire Wistron Corp.’s iPhone unit and become the first mainland company to assemble Apple’s marquee device. It’s another win for a company that went from making cables and antennas to AirPods, sending its shares higher by as much as 7% Monday while Wistron fell up to 10%.The introduction of a homegrown Chinese star helps Apple scores points with Beijing, at …read more […]