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The coronavirus outbreak in China is already threatening to undermine the global economy. It may soon create a similar shake-up in the drug industry. I’m not talking about pharmaceutical companies’ attempts to develop a vaccine, but about intellectual property. Chinese researchers have applied for a patent on an antiviral drug candidate called remdesevir owned by Gilead Sciences Inc. The drug ...

Modern living standards — indoor lighting, affordable food, heat in the winter, an internet connection — require energy. And every energy source has its drawbacks. It’s easy to point out the downsides of a given energy source and call for it to be banned. But if we’re not careful about weighing costs against benefits, we’re liable to end up with ...

Bloomberg Bombardier Inc has Quebec in a bind again. As the debt-laden plane and train maker explores selling one of its core businesses and exiting a jetliner venture with Airbus SE, its home province is feeling the need to get involved again — but not at any cost. Unwilling to add to the $1 billion his predecessor invested in the ...

Bloomberg Administrators for South Africa’s loss-making state airline have defended their decision to cut routes as part of a turnaround plan, after objections from President Cyril Ramaphosa, government and labor unions. South African Airways (SAA) will halt service to nine international cities, including Hong Kong and Sao Paulo, and cease all local services except those between Johannesburg and Cape Town. ...

Bloomberg Luxury conglomerate Tapestry Inc appointed Liz Fraser as the new head of its beleaguered Kate Spade brand after the departure of Anna Bakst at the end of the year sparked a search for a new executive. Fraser starts as CEO of Kate Spade on March 1 and will take over from Joanne Crevoiserat, Tapestry’s chief financial officer who held ...

Bloomberg Hermes International unveiled its first products from a new beauty division, adding $67 lipsticks to a brand better known for $9,000-plus Birkin bags and $400 silk scarves. By expanding its offer in cosmetics, Hermes is testing the waters of a category that has long driven sales and profit for rivals like LVMH’s Christian Dior and Chanel. Hermes, which says ...

Bloomberg Myanmar’s largest private-sector airline said the novel coronavirus outbreak is likely to have an impact on its operations until April. The airline, Myanmar Airways International-Air KBZ Group, has temporarily suspended all routes to mainland China as well as Taiwan, Commercial Director Tanes Kumar said in an interview. “We had to shift some priorities within our strategy due to the ...

Bloomberg The area near Los Angeles where Kobe Bryant’s helicopter crashed was blanketed by a thick layer of clouds and the craft’s engines were operating as it plummeted, a newly released report shows. The National Transportation Safety Board (NTSB) released several photographs provided by government agencies and individuals depicting the first hard evidence confirming early witness reports that the aircraft ...

Bloomberg Oil declined for the fifth straight week as the spreading coronavirus clouded the demand outlook and Opec awaited Russia’s decision on whether to cut production. Futures in New York fell 2.4% for the week, posting the longest weekly losing streak since 2018. Chinese refiners are processing 15% less crude than before the outbreak as the infection crimps demand. Meanwhile, ...

ADDIS ABABA / WAM Sanad Aerotech (Sanad), the leading provider of aircraft engine maintenance, repair and overhaul (MRO), solutions and part of Sanad – a wholly owned subsidiary of Mubadala Investment Company, elevated its business expansion ambitions in Africa by signing a landmark agreement with Ethiopian Airlines, the continent’s fastest growing airline and one of the reputed aviation brands in the ...