Top Stock News
- European Company News:
- National Grid (Britain): Started removing components supplied by a unit of China-backed Nari Technology from the electricity transmission network over cyber security fears.
- Iliad (France): Aims to finalize a proposal to Vodafone Italy to combine their Italian operations in a joint venture by the end of January.
- Telecom Italia: Faces a complaint from top investor Vivendi challenging the 19-billion-euro sale of its domestic fixed-line network to KKR.
- Nippon Steel (Japan): Announced the acquisition of U.S. Steel in a $14.9 billion deal, months after the latter put itself up for sale.
- Southwest Airlines: Agreed to a $140 million civil penalty over the December 2022 holiday meltdown that led to 16,900 flight cancellations and stranded 2 million passengers.
- Defense Industry: The profit outlook for the US defense industry in 2024 has risen due to increased demand amid geopolitical conflicts.
- EU Investigation: The European Union opens proceedings against social media company X (formerly Twitter) over a suspected breach of obligations under the Digital Services Act (DSA).
- Corporate Acquisitions:
- IBM: Plans to acquire Software AG’s enterprise integration platforms for $2.33 billion to strengthen its artificial intelligence and hybrid cloud offerings.
- Viatris Inc: Appointed Theodora Mistras as its CFO and Philippe Martin as Chief Research and Development Officer.
- Steel Industry:
- U.S. Steel Corp: Nippon Steel to buy the company in a $14.9 billion deal to offset declining demand in Japan and expand in the U.S.
- Labor Strikes:
- Amazon.com Inc: Spanish workers at an Amazon logistics center plan a three-day strike ahead of the Epiphany feast day, demanding higher wages.
- China’s Tech Usage:
- Apple Inc: Chinese agencies and state-backed companies are instructing employees to avoid foreign devices, including iPhones, at work.
- FDA Approval:
- Arcutis Biotherapeutics Inc: FDA approved the company’s drug for treating seborrheic dermatitis in individuals nine years of age and older.
- Energy Investment:
- BlackRock Inc: Exits talks to acquire Exxon Mobil’s majority stake in Italy’s main liquefied natural gas (LNG) import terminal. Also, invests up to $400 million in Dubai-based decarbonization company Positive Zero.
- Clinical Trial Discontinuation:
- Bristol Myers Squibb Co: Discontinues late-stage trial testing a treatment for a type of colon cancer.
- Business Expansion in China:
- Citigroup Inc: Faces delays in setting up a wholly-owned securities business in China due to compliance with data laws.
- Clean Hydrogen Projects:
- CNX Resources Corp: Pulls out of the Adams Fork ammonia project, evaluating alternative sites for clean hydrogen projects.
- Antitrust Battle:
- Illumina Inc & Grail Inc: Illumina to divest Grail after facing antitrust challenges from both U.S. and European regulators.
- Cancer Treatment:
- GSK PLC: Combination of cancer drugs Zejula and Jemperli shows a statistically significant benefit in treating a certain type of endometrial cancer.
- Electric Vehicle Industry:
- Nio Inc: Secures a $2.2 billion investment from CYVN Holdings in an effort to boost efficiency amid a price war in the EV industry.
- Counterfeit Drug Listings:
- Novo Nordisk A/S: IndiaMART removes unauthorized listings of Wegovy, the company’s blockbuster weight-loss drug, after discussions with Novo Nordisk.
- Customer Attraction:
- Robinhood Markets Inc: Attracts customers from other brokerages, seeking to expand beyond its base of young, first-time investors.
- Airline Penalty Settlement:
- Southwest Airlines Co: Agrees to a record-setting $140 million civil penalty over the December 2022 holiday meltdown.
- Business Divestiture:
- Unilever PLC: Sells Elida Beauty, its non-core beauty and personal care division, to U.S. private equity firm Yellow Wood Partners.
- Battery Recycling Agreement:
- VinFast Auto Ltd: Signs an agreement with Japan’s Marubeni to recycle used EV batteries, aiming to establish a circular economic model.
- Telecom Merger Proposal:
- Vodafone Group PLC: Iliad submits a proposal to merge their Italian units, exploring consolidation options in the Italian telecom market.
- Canadian Zero Emission Regulation:
- Canada: Expected to announce that all new cars must be zero emissions by 2035, in line with global efforts towards electrification.
