Daily Management Review
Business & Finance
Novartis to acquire US rare disease drug developer for $12 billion

Novartis to acquire US rare disease drug developer for $12 billion

Novartis has reached an agreement to purchase the biotechnology firm Avidity Biosciences for a total of $12 billion, which is equivalent to $72 per share—a 46% increase over the company's current stock price. This announcement was made by the Swiss pharmaceutical company. Avidity Biosciences, based...
Blackstone’s Strategic Leap Into Indian Banking With India’s Federal Bank Stake

Blackstone’s Strategic Leap Into Indian Banking With India’s Federal Bank Stake

Blackstone’s decision to invest $705 million for a 9.9 per cent stake in India’s Federal Bank marks a defining moment for both the U.S. private-equity giant and the Indian banking industry. The move, which will make Blackstone the bank’s largest shareholder, reflects a strategic bet on India’s...
LVMH is considering selling its stake in Fenty Beauty

LVMH is considering selling its stake in Fenty Beauty

Louis Vuitton Moët Hennessy (LVMH, which encompasses Louis Vuitton and Dior, jewelry label Tiffany, and beauty retailer Sephora) is contemplating the sale of its 50% interest in Fenty Beauty, which it jointly owns with artist Rihanna. This is reported by Reuters, referencing four sources. As per...
Shares of vegan meat producer Beyond Meat soar 1,400%

Shares of vegan meat producer Beyond Meat soar 1,400%

Shares of Beyond Meat, a leading producer of plant-based meat alternatives, have surged almost 1,400% in just four trading days, as per market data. The scenario seems similar to the "meme stock" phenomenon, which at times results in unusually robust increases in declining stocks, impacting retail...
Thyssenkrupp is in talks with India's Jindal Steel to sell its steel business

Thyssenkrupp is in talks with India's Jindal Steel to sell its steel business

The German industrial firm Thyssenkrupp is currently in discussions with India's Jindal Steel International, which has shown interest in Thyssenkrupp Steel Europe (TKSE), its steel sector. Last month, Jindal Steel submitted an initial proposal to purchase TKSE, the second-largest steel producer in...
FT names leading contenders for majority stake in Starbucks' China business

FT names leading contenders for majority stake in Starbucks' China business

According to the Financial Times, investment firms Carlyle Group and Boyu Capital are the top candidates for a majority ownership of Starbucks Corp.'s operations in China. As per the newspaper's sources, Starbucks considers Carlyle and Boyu as favored partners. In total, the valuation of the coffee...
British watchdogs suspend Revolut's full banking license

British watchdogs suspend Revolut's full banking license

UK regulators have revoked the complete banking license of fintech firm Revolut, pointing to worries about the swift expansion of its global activities and the related dangers, according to the Financial Times (FT). The newspaper reports that, based on three sources, the Bank of England asked the...
Baker Hughes estimates $100 million in negative impact of trade tariffs this year

Baker Hughes estimates $100 million in negative impact of trade tariffs this year

Baker Hughes Co., a US oilfield services firm, forecasts that this year the adverse effects of trade tariffs on the company will surpass $100 million. "Mounting pressure exists, but it needs to be handled," stated the company’s CEO, Lorenzo Simonelli, during the Energy Intelligence Forum in London...
Morgan Stanley to lift restrictions on cryptocurrency investments for clients

Morgan Stanley to lift restrictions on cryptocurrency investments for clients

Morgan Stanley is broadening the availability of cryptocurrency investments for every client and will permit such investments for all account categories, including retirement accounts, according to CNBC. The bank informed financial advisors that, starting October 15, they are allowed to provide...
Demand for LG Electronics India IPO shares is 54 times oversubscribed

Demand for LG Electronics India IPO shares is 54 times oversubscribed

The IPO of LG Electronics India concluded on Thursday, with demand surpassing supply by over 54 times. As per the exchange, bids for 3.85 billion shares were received by the company. The price range for the IPO was established at 1,080-1,140 rupees. At the highest price threshold, demand would...
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