(Reuters) – The U.S. Federal Trade Commission plans to delay its decision whether to block Chevron’s $53 billion takeover of Hess until after an arbitration case with Exxon Mobil is settled, Bloomberg News reported on Thursday. The signal from the U.S. regulator is another hurdle for Chevron’s proposed acquisition of Hess. The deal, which was…
(Reuters) -The U.S. Federal Trade Commission is planning to sue UnitedHealth, Cigna and CVS Health – the three largest pharmacy-benefit managers – over their tactics for negotiating prices for drugs including insulin, the Wall Street Journal reported on Wednesday. Pharmacy benefit managers, or PBMs, act as middlemen between drug companies and consumers. They negotiate fees and…
(Reuters) -Neuralink, Elon Musk’s brain-chip company, is working on a new device that it believes will require half the number of electrodes to be implanted in the brain to make it more efficient and powerful, the company’s executives said. The company is also taking risk mitigation measures such as skull sculpting and reduce the carbon…
(Reuters) -The National Basketball Association has finalized a $76 billion deal that will make Comcast’s NBC and Amazon.com’s Amazon Prime Video new partners, while maintaining Disney’s ESPN as the home of the NBA finals, the Athletic reported on Wednesday, citing sources. The deal worth $76 billion will extend for 11 seasons, the report said, citing…
(Reuters) -Billionaire Elon Musk’s artificial intelligence startup xAI and tech giant Oracle have ended talks on a potential $10 billion server deal, The Information reported on Tuesday. The startup and Oracle have ended talks to expand an existing arrangement under which xAI has been renting Nvidia’s AI chips from the cloud provider, the report said,…
(Reuters) -Eli Lilly will acquire Morphic Holding for $3.2 billion, the companies said on Monday, giving the U.S. drugmaker access to an experimental drug for inflammatory bowel disease. Shares of drug developer Morphic surged 76% to $56.15 premarket on Lilly’s offer of $57 per share, which represents a 79% premium to stock’s last closing price….
(Reuters) -Citigroup will wind up its operations in Haiti due to weak demand from institutional clients and lower international banking activity, ending its presence of more than five decades in the country. The exit is part of a strategic review and will not have a significant economic impact on Citi, the bank said on Monday….
(Reuters) -British fintech company Revolut’s CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale, Sky News reported on Sunday. The Financial Times reported last month that the digital finance app is working with bankers on the share sale, including shares held…
(Reuters) – Private equity firm Carlyle Group is in exclusive talks to acquire Baxter International’s kidney care spinoff Vantive for more than $4 billion, including debt, a person familiar with the matter told Reuters on Friday. Shares of the Deerfield, Illinois-based firm rose about 4%. The parties had entered exclusive negotiations in late June, the…
By Suzanne McGee (Reuters) – Shares of headphone maker Koss Corp. soared for the second session in a row on Friday, closing at $13.35 a share, after trading as high as $18.50 early in the day, as social media posts speculated that a post by meme stock influencer Keith Gill indicated his interest in the…
