Bloomberg Takeda Pharmaceutical Co agreed to pay as much as $6 billion for an experimental immune therapy from Nimbus Therapeutics, part of the Japanese drugmaker’s hunt for promising new products. Takeda will pay $4 billion upfront for the drug, which is called NDI-034858 and will be renamed TAK-279, the companies said in a statement. Cambridge, Massachusetts-based Nimbus is also ...

Bloomberg Senator Joe Manchin is pressing Treasury Secretary Janet Yellen to stand firm on North American-based manufacturing requirements for lucrative electric-vehicle tax credits under the Inflation Reduction Act, setting up a battle between the West Virginia Democrat and Korea’s Hyundai Motor Co. At stake is whether Treasury would hand out the full $7,500 per vehicle in tax credits to more ...

Bloomberg The US is poised to send Patriot air and missile defense batteries to Ukraine pending final approval from President Joe Biden, two US officials said, fulfilling a key demand from Ukrainian leaders. President Volodymyr Zelenskiy has urgently sought the system, produced by Raytheon Technologies Corp.and Lockheed Martin Corp, saying Patriots are needed to counter the relentless barrage of Russian ...

  Bloomberg A Hong Kong court overturned the conviction of a prominent local democracy activist for her role in a banned Tiananmen memorial last year, in a rare victory for the city’s beleaguered opposition. Chow Hang Tung was cleared by the High Court of charges of inciting others to take part in an unauthorised assembly in June 2021 to commemorate ...

  Bloomberg The Philippines’ Department of National Defense said it “views with great concern the reported swarming” of Chinese vessels in the Iroquois Reef and Sabina Shoal in the South China Sea. “Our lines remain open to dialogue,” the agency said. “However, we maintain that activities which violate our sovereignty, sovereign rights, and jurisdiction, and undermine the peace and stability ...

Bloomberg US President Joe Biden is at pains to fix perceptions in Africa that the US has neglected the continent while China and Russia make inroads. He’ll get a chance when he hosts the first summit of its kind in eight years, one that will see him personally interact with leaders from the continent on trade, climate, and governance. The ...

  Bloomberg European Union (EU) and British officials are seeking to unlock an agreement on their post-Brexit trade relationship by February and put to rest a contentious dispute that’s overshadowed relations since the UK left the bloc three years ago. The two sides have intensified talks over recent weeks on the so-called Northern Ireland protocol after months of stalemate, according ...

  Bloomberg Sweden has outlined Europe’s security as the primary task for its six-month presidency of the European Union (EU) from the start of next year. The nation will prioritise continued economic and military support for Ukraine, as well as support for Ukraine’s path towards the EU, and work to build consensus towards “a robust European security and defense policy,” ...

Bloomberg Danske Bank A/S admitted to fraud and will pay $2 billion to end a long-running US probe into money laundering at its Estonia branch, helping draw a line under the worst scandal in the bank’s recent history. The Danish lender pleaded guilty to conspiring to commit bank fraud and admitted providing banking services to suspicious customers — including in ...

Bloomberg The European Central Bank (ECB) will let staff work remotely for 110 days a year — roughly half their time. The rules, which take effect from January 1, permit as many as 10 days a month away from desks. That’s stricter than the current system, under which employees must show up at the office at least eight days a ...