The American biopharmaceutical company Inhibrx is selling its assets to French company Sanofi for a reported $2.2 billion. In a press release, Sanofi stated that it is purchasing all of the Inhibrx assets associated with the investigational medication INBRX-101. This medication is intended to treat...

The project to construct a petrochemical complex in the Chinese province of Fujian has reached a final investment decision, according to Saudi Basic Industries Corporation (SABIC), which is under the authority of Saudi Aramco. The enterprise will be created in cooperation between Fujian Fuhua Gulei...

Reuters was informed by sources that Reddit is getting ready to go public in March. This would be the first major social media business to go public since Pinterest's IPO in 2019. Sources cited by Reuters say that the social network Reddit has drafted comprehensive plans for an initial public...

In 2023, Apple surpassed Samsung to take the top spot as a maker of smartphones. According to preliminary statistics from the IDC, US company Apple surpassed South Korean Samsung to win the top spot in the list of the biggest smartphone makers at the end of last year. Apple shipped 234.6 million...

Due to the weak demand for diamonds, De Beers, one of the biggest diamond miners in the world, lowered the pricing of its goods at its first sale in 2024, which is regarded as one of the most significant, according to Bloomberg, which cited industry sources. "To improve demand, De Beers cut prices...

The U.S. Tesla has lost 94 billion dollars of market value since the beginning of 2024 as the company's shares have plunged, writes Bloomberg. Tesla's stock has dropped by 12% since the start of January, marking the company's worst performance since 2016. Among the mentioned factors were Hertz...

According to the Financial Times, the Japanese IT giant Fujitsu is facing financial penalties for giving the British postal corporation Post Office defective software that resulted in the false prosecution of hundreds of post office managers for allegedly embezzling money. At least 700 Post Office...

The large oil and gas corporation Shell has issued a forecast indicating that it expects to write down $4.5 billion in assets due to impairment in the fourth quarter of 2023. The portfolio's individual holdings, such Singapore's petrochemical assets, as well as macroeconomic and outside...

Axonics, a leader in medical technology, announced in a press release that it is to be acquired by US medical device manufacturer Boston Scientific for an estimated sum of $3.7 billion. Boston Scientific is going to pay $71 for each share in Axonics. The transaction is anticipated to close in the...