Bloomberg For a masterclass in the upside potential of pharma M&A, look no further than Takeda Pharmaceutical Co.s sale of an eye drug to Novartis AG. By one measure, the deal represents a 2,025% return. Shire Plc, which Takeda bought in January, obtained the assets through a 2013 acquisition. It paid $160 million upfront to gain the late-stage experimental drug, ...

Bloomberg US prosecutors in a high-profile case against Huawei Technologies are seeking to disqualify the company’s lead lawyer, saying he has a conflict of interest stemming from his former role as second-in-command at the Justice Department. James M Cole should be excluded from the Chinese smart-phone maker’s defense team because he had access to classified investigations that appear to be ...

Bloomberg Prices are set to rise for another decade in the world’s least affordable property market, Hong Kong, according to UBS Group AG. Inflows of residents will be key as the Greater Bay Area project integrates a group of mainland Chinese cities with Hong Kong, property analyst John Lam wrote in a research report. The extra buyers will be “more ...

Bloomberg China’s BAIC Group is looking to buy a stake of up to 5% in Daimler AG to cement its investment in Beijing Benz Automotive, Reuters reported, citing three unidentified people familiar with the matter. BAIC told Daimler that it was planning to buy a 4%-5% stake earlier this year, and asked local authorities in Beijing to support the purchase, ...

Bloomberg After the biggest initial public offering of the year, Uber Technologies Inc. ended its first day of trading below its last private valuation. The deflated debut cast a pall over 2019’s prospects as the hottest year for tech listings this decade — and potentially on the future of the ride-hailing industry. It took more than two ho-urs for the ...

Bloomberg Walt Disney Co. wrote off the rest of its investment in Vice Media, reflecting the ongoing troubles at the onetime media darling. The charge of $353 million marked the second time in the past year that Disney has taken a hit on the investment. Vice, which produces a high-profile news show for HBO and operates the Viceland cable channel, ...

Bloomberg Productivity gains in the US accelerated by more than expected last quarter to the fastest pace since 2014, adding fuel to the Trump administration’s argument that its tax cuts are boosting the economy without stoking inflation. Non-farm business employee output per hour increased at 3.6 percent annualised rate in the January-March period, according to Labor Department figures. That topped ...

Bloomberg House price growth in the UK remained weak in April as the slump in southeast England and London depressed the market, the latest survey from the Royal Institution of Chartered Surveyors showed. The index was unchanged as a dip in new buyers weighed on prices, the report said. Expectations for the next three months are for flat or declining ...

Bloomberg One of Germany’s biggest and oldest companies wants to become carbon neutral by next year, starting a race to tap more green power, ramp up energy savings and offset emissions. Robert Bosch GmbH announced the sweeping plan that will impact 400 sites worldwide. It puts the 133-year-old company at the forefront German blue chips moving to eliminate emissions as ...

Bloomberg US Secretary of State Michael Pompeo leaves for Moscow on Sunday, with President Donald Trump again calling for improved ties now that Special Counsel Robert Mueller has finished his investigation. Pompeo will meet US diplomats at the American Embassy in Moscow on Monday before continuing to Sochi for talks with President Vladimir Putin and other senior officials. The secretary ...