May, 2019

• 11 May

  Takeda gets 2,025% return in Novartis deal

  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, ...

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• 11 May

  US accuses Huawei defense lawyer of conflict of interest

  

  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 ...

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• 11 May

  UBS: Hong Kong property prices to rise for a decade

  

  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 ...

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• 11 May

  BAIC seeks to buy up to 5% stake in Daimler

  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, ...

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• 11 May

  Uber slips below $70b value, marring a big year for IPOs

  

  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 ...

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• 11 May

  Disney writes off Vice stake in latest sign of troubles

  

  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, ...

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• 11 May

  US productivity grows at fastest pace since 2014

  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 ...

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• 11 May

  UK property market subdued as Brexit weighs on prices

  

  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 ...

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• 11 May

  Bosch aims to go carbon neutral by next year

  

  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 ...

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• 11 May

  Pompeo to meet Putin as Trump seeks better ties

  

  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 ...

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