AstraZeneca to Enhance Heart and Kidney Line With CinCor Acquisition
AstraZeneca announced in early January that it will purchase drug developer CinCor Pharma, Inc. for up to $1.8 billion. CinCor has an experimental treatment for high blood pressure and chronic kidney disease currently in development. AstraZeneca plans to combine the drug, baxdrostat, with its diabetes medication Farxiga, which was shown to help patients with heart failure and kidney disease...
Duck Creek Technologies to Go Private in $2.6 Billion Transaction
Vista Equity Partners will take Boston-based insurance software company Duck Creek Technologies private in an all-cash deal valued at $2.6 billion, Duck Creek said in January. The terms of the deal include a "go-shop" period until February 7, during which the company's board can solicit and consider alternate proposals...
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When the Dollar Is Strong, Investors Can Struggle
While the value of the U.S. dollar rose 9.3% in 2022 amidst hiked interest rates, nearly every major currency lost value against it, according to the U.S. Dollar Index. Though it may seem that such news would be good during a period of inflation, some economists believe it could signal trouble for investors and the overall American economy...
World Economy Looks Promising, According to U.S. and German Data
Certain indicators suggest that economic stability and recovery may well be on the horizon in the U.S. First, amidst a 3.2% expansion of the economy in the third quarter of 2022, December unemployment data showed that labor market conditions have improved, with wage inflation on its way down...
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Wells Fargo Grows Investment Banking Business
While Wells Fargo has never been at the top of the table for its investment banking business, the bank landed for the first time in the top 10 for mergers and acquisitions advisory deals in 2022, according to Bloomberg. The ranking may indicate that the bank, which is known for its consumer business, may be figuring out how to increase revenue in new ways...
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Canadian Telecom Rivals May Merge, Tribunal Says
Following months of uncertainty, Canada’s antitrust tribunal cleared the way in late December for the $14.77 billion merger of Rogers Communications Inc. and rival Shaw Communications Inc., according to Reuters. The Commissioner of Competition had issued a plea to stop the transaction...
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Tokyo Gas Division in Talks to Buy U.S. Natural Gas Producer
In the latest action by a Japanese entity to secure gas from friendly places following Russia’s invasion of Ukraine, a unit of Tokyo Gas Co. Ltd. is in advanced talks to purchase Houston-based Rockcliff Energy from private equity firm Quantum Energy Partners, Reuters reported. The unit, TG Natural Resources, is expected to pay $4.6 billion, including debt, in the all-cash deal...
What’s in Store for the Global Economy in 2023?
As central banks combat inflation, China restarts its economy, and the Russian invasion of Ukraine persists, investors should expect some volatility in the first half of 2023, according to Wall Street predictions. The S&P 500 is expected to end 2023 at 4,078 points — about 6% higher than it ended 2022 — according to 22 strategists polled by Bloomberg...
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New Climate Policies to Be Finalized in 2023
Having laid out climate-related policies in 2022, federal regulators are tasked in 2023 with putting them into effect. How successful they are will decide in part what impact the warming planet will have on the U.S. and global economies...
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Goldman Dealmakers Optimistic About M&A in 2023
Global banking and markets heads at Goldman Sachs Group Inc. told Reuters in December that mergers and acquisitions (M&A) will recover in the second half of 2023. Dan Dees, Jim Esposito, and other Goldman executives pointed to multiple reasons for deal activity to pick up...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...