Two British healthcare giants, Vectura Group, and Spire Healthcare, have reportedly been acquired in takeover deals with a combined value of £2 billion.
According to the credible sources, Vectura Group, which is developing a groundbreaking inhaled formulation for Covid-19 treatment, has accepted £958 million takeover deal from Carlyle Group. This is expected to become the latest in a series of recent acquisitions of businesses in the UK by private equity during the pandemic.
Sources have reported that, the company board unanim
Renowned exercise equipment and media firm Peloton is reportedly planning to build its first US manufacturing facility following the rising demand for its at-home exercise equipment amid the pandemic. This construction of the factory is expected to start later this year in Ohio and is estimated to create nearly 2,000 jobs. The production will reportedly commence in 2023.
For the record, Peloton currently manufacturers a majority of its indoor exercise bikes and treadmills at third-party factories based in Taiwan.
As gym-goers are stuck at
Nike Inc. has reportedly teamed up with the U.S. Customs and Border Protection (CBP) to curb the inflow of phony goods in the country. The shoe manufacturing giant is also planning to offer a proprietary technology that will help in authenticating Nike merchandise.
Counterfeit products have been on a rise in the U.S. with the CBP seizing around 26,503 consignments containing goods that could have been worth USD 1.3 billion if they were proved to be legitimate.
Some reports say clothing items alone accounted for 15% of counterfeited goods,
Cipla Limited, a leading Indian pharmaceutical firm, has reportedly launched a new RT-PCR test for coronavirus, called ViraGen, in India. The pharmaceutical giant has also announced the commercialization of ViraGen test kit in collaboration with Ubio Biotechnology Systems Pvt. Ltd.
The new product ViraGen is the third offering of Cipla in the Covid-19 testing section. The firm has partnerships for antigen test and antibody detection kit.
The newest COVID-19 testing kit is a real-time detection kit which has been approved by the ICMR and i
As UK initiates the relaxation of lockdown restrictions, the country is reportedly witnessing a decline in unemployment rate for three consecutive months. With companies beginning to hire again in March, the Office for National Statistics, stated that the number of individuals looking for job dropped to 1.6 million during the three months to March from 1.7 million during the three months to February.
It has been reported that in February, the quarterly rate dropped to 4.8% from 4.9%, when the employment market showed broader signs of recovery. This is majorly due to the prog
India’s flag carrier airline, Air India is reportedly facing a lawsuit filed by Cairn Energy for around $1.2 billion under a dispute between the Government of India and the energy company. According to the credible sources, Cairn is planning to seize assets of Air India in the US for enforcing a tax dispute it won recently. The case was reportedly filed in the US District Court for the Southern District of New York.
For the records, this is not the first time Cairn threatened to the seizure of the airline’s assets. Back in February, Air India had started making p
The sister companies are likely to invest around USD 7.4 billion by 2025.
U.S. President Joe Biden has long emphasized the need to boost EV adoption in the country.
The South Korea-based multinational automakers Hyundai Motor Company and KIA Corporation have announced a multi-billion-dollar investment for manufacturing EVs in the U.S. The sister companies have reportedly chalked out a plan to establish various EV production facilities and other necessary logistics in the coming years.
Singaporean telecommunications conglomerate, Singtel, is reportedly expecting to book net exceptional losses of around $1.21 billion in its full-year results. This is mostly attributed to the impairment of assets at its two units that are based in the United States. These units include Trustwave Holdings, a cyber-security firm, and Amobee, a digital advertising platform.
As per Singtel, the company had begun a strategic review for considering alternatives for the two enterprises. These options may comprise restructuring of business or product segments, a partial or full dive
Google, Apple, and Microsoft will be joining automakers to push the government to sanction chip manufacturing subsidies.
U.S. President Joe Biden has reportedly asked Congress to allocate USD 50 billion for the CHIPS for America Act.
Reportedly, renowned technology companies such as Microsoft Corporation, Apple Inc., Google LLC, and Cisco Systems have joined hands with leading chip producers to influence the U.S. government to sanction chip manufacturing subsidies.
