French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for 3.9 billion euros ($4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ. The deal is a further sign of accelerating mergers and acquisition (M&A) activity in the global biotech sector and comes after Ablynx rejected a […]
Read moreIndia on Monday forecast its economic growth would accelerate to 7 to 7.5 percent in the 2018/19 fiscal year, to once again become the world’s fastest-growing major economy. The government’s economic survey, presented to parliament on Monday went on to say that though the plan has been to reduce the fiscal deficit from an estimated […]
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'Sunbed wars' between tourists could be history as pre-booking system is launched
That moment when you’re on vacation and go down to the hotel pool to find towels placed on every sunbed could soon become a thing of the past with a the launch of a pre-booking scheme for sun loungers. British travel giant Thomas Cook announced Monday that it was launching a service that allows customers […]
Read moreFacebook is overseeing a transparency drive ahead of the introduction of stringent data protection rules in the European Union (EU). As global tech behemoths scramble to prepare for the impact of looming EU data privacy regulations, Facebook announced Sunday that it had published its so-called privacy principles for the first time. The privacy controls detail […]
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Traditional market trends are broken and it’ll only get worse, strategist warns
Traditional correlations in global financial markets have become so broken that this fragmentation has become a new normal for investors, a strategist told CNBC Monday. This year has seen bond yields creep higher once more on expectations of higher interest rates and a pickup in inflation. But equity markets have also risen, meaning that the […]
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Freed Saudi billionaire Prince Alwaleed says corruption detention was a 'misunderstanding'
Saudi Arabian billionaire businessman Prince Alwaleed bin Talal has been freed after a high-profile detention during a crackdown on corruption, describing his arrest as a “misunderstanding.” Speaking to Reuters just ahead of his release Saturday, Alwaleed said that there were no charges against him following his arrest as part of a nationwide crackdown on corruption […]
Read moreGoogle has made an investment in Indonesian ride-hailing start-up Go-Jek. The move is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement Monday. “Go-Jek is led by a strong Indonesian management team and has a proven track record of using technology to make life more […]
Read moreA free mobile game about a traveling frog has become a hit in China, despite being available only in Japanese. Called “Tabikaeru: Travel Frog,” the main protagonist of the game is a frog that goes on adventures around Japan. Players collect clovers that grow in the frog’s garden so they can buy supplies for the […]
Read moreOne plank of Donald Trump‘s election platform was centered on rebalancing the trade relationship between the U.S. and China. He once told an interviewer that he preferred “fair trade” to plain old “free trade.” His Commerce Secretary Wilbur Ross has taken up that baton as a very public proponent of the so-called “America First” policy; […]
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The ECB and the euro are the only glue holding parts of Europe together
Many German political observers estimate that, under the best circumstances, their country is unlikely to have a new three-party coalition government before Easter — April 1. They realize that this might be an optimistic forecast given the fundamental differences separating those who want a status quo stability (two right-wing parties) and a radical change of […]
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