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Novartis buys Regulus Therapeutics, deal expected to hit $1.7 bln 05/02/2025

U.S. Tariffs Force Chinese Factories to Halt Production and Hunt for New Markets 04/28/2025

Americans Fear Repetition of 2008 Financial Crisis as Tariff War Intensifies 04/28/2025

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Business & Finance

Intel to stop production of chips used for mining

According to Intel’s official quoted by news site Tom's Hardware, the company said that it would stop making a line of Blockscale mining chips. The news portal quotes an Intel spokesperson as saying that the company's current strategy, known as IDM 2.0, in which Intel is outsourcing production of...

Will Netflix's Pricing Reductions And Ad-Supported Model Bring In New Users?

Investors will closely examine if recent price cuts and the introduction of an ad-supported plan are luring customers to subscribe and stick with Netflix Inc., which is expected to report that it added about 2 million subscribers in the first quarter. The company, which lost 200,000...

Nissan Looking Out For A Tech Partnership Without Renault As The Alliance Approaches Its Demise

As the automakers strive to finalize the parameters of a strictly limited alliance, Nissan is developing expansion plans outside of Renault SA in industries like software and electric vehicles (EVs), according to seven people with knowledge of the situation. Without going into specific...

Wells Fargo's Profit Exceeds Expectations Due To Rising Rates. Increase Interest Revenue

As a result of the U.S. Federal Reserve's stricter monetary policy and higher interest rates, Wells Fargo & Co. on Friday exceeded earnings forecasts for the first quarter. In contrast to a discharge of $787 million a year earlier, the bank set aside $1.21 billion in the quarter to...

Strong Chinese Recovery, U.S. Recession Are Highlighted By LVMH

The world's largest luxury company, LVMH, announced first-quarter sales that were up 17%, more than doubling analysts' predictions as China quickly recovered from COVID-19 lockdowns. For the three months ending in March, sales at the French corporation, which owns the Louis Vuitton and...

Emerson Electric to pay $8.2B for meter manufacturer NI

The American industrial company Emerson Electric announced that it would acquire National Instruments (NI), a maker of measuring instruments. The transaction will cost $8.2 billion. Emerson will pay $60 per share to NI investors, a 14.1% premium above the price on Tuesday. NI specializes in...

Silicon Valley Bank Bankers Are Hired By HSBC To Specialize On Technology And Healthcare

David Sabow, who most recently served as the head of Silicon Valley Bank's technology and healthcare banking division for the California-based bank that failed last month, has recruited dozens of Silicon Valley Bank bankers for the US division of HSBC Holdings plc. According to a statement...

Tesla Plans To Construct A Megapack Battery Facility In Shanghai

In order to augment output from the Megapack factory in California, Tesla Inc. is constructing a facility in Shanghai that can produce 10,000 Megapack energy products annually, the firm announced in a tweet on Sunday. Chinese state-run news agency Xinhua broke the story first. ...

US expects corporate profits to decline in Q1

According to FactSet analysts' predictions, companies in the S&P 500 index will experience an average 6.8% decline in net profit during the first quarter of this year compared to the same period last year, reports The Wall Street Journal. If the expectations come true, it will mark the second...

Deal-Making Spree By JPMorgan Being Examined By US Regulator

According to persons familiar with the situation, the Financial Times reported on Friday that JPMorgan Chase & Co. is under investigation by US regulators about the due diligence the firm performed on several of its prior acquisitions. Following the bank's acquisition of hundreds of...