Capital Calls: Biodiversity, Email, Gene IPO 30 Sep 2021 Concise views on global finance: Taskforce on Climate-Related Financial Disclosures gets a nature-based counterpart; Sweden’s Sinch clinches its fourth communication-software deal in seven months; a 40% bounce on Oxford Nanopore's market debut puts some life into London.
Capital Calls: Moderna, Qualcomm, US tax, ViacomCBS 5 Aug 2021 Concise views on global finance: The Covid-19 vaccine maker is looking past the pandemic; the telecoms group is offering $4.6 bln for Veoneer; U.S. Democrats are trying to close the carried-interest loophole; ViacomCBS is betting "South Park" can boost its streaming service.
Capital Calls: Grill makers cook their IPOs rare 27 Jul 2021 Concise views on global finance: Weber and Traeger set conservative prices for their market debuts, leaving something on the table for new investors.
Capital Calls: Genetic gold rush 28 Jun 2021 Concise views on global finance: A company has shown biotechnology called CRISPR can precisely edit defective genes in humans, fueling investment and squabbles.
Capital Calls: GameStop is a SPAC now 22 Jun 2021 Concise views on global finance: The meme-stock video-game retailer has raised more cash, making it look like an overvalued cash shell.
Capital Calls: Netflix, Flackless SPAC 21 Jun 2021 Concise views on global finance: The streaming service strikes an agreement with Steven Spielberg’s Amblin Partners; Helicopter-taxi company Blade’s phony spokesperson speaks poorly to investors.
Review: Pandemic saga suffers from tunnel vision 18 Jun 2021 Michael Lewis explores the weaknesses in America’s response to Covid-19 in “The Premonition”. Exposing missed opportunities can offer lessons for the next outbreak. But by focusing on just one country, he risks repeating the mistakes global leaders made in tackling the virus.
CureVac’s pain may not yet have peaked 17 Jun 2021 The German drugmaker’s value halved to $10 bln after it said its Covid-19 vaccine may be only 47% effective. Investors’ concern is that its critical mRNA technology may not work as well. Separate trials on its cancer vaccine will be key to CureVac’s future health.
GSK’s radical surgery is only a partial fix 3 Jun 2021 GlaxoSmithKline CEO Emma Walmsley is breaking up the $96 bln drugmaker. Spinning off the consumer unit may unlock value and give what’s left firepower for deals and drugs. Yet the split carries risks and will still leave the embattled pharma group facing a lengthy turnaround.
Capital Calls: Airbus signals liftoff, Bill Gates 27 May 2021 Concise views on global finance: The global aircraft industrial complex got a boost after the European plane maker said it hopes to churn out more of its A320 short-haul workhorses per month than expected; Microsoft founder’s huge private investment vehicle under scrutiny.
Thermo Fisher’s $17 bln deal bets on jam tomorrow 15 Apr 2021 The U.S. scientific device maker looks like it is overpaying for PPD given its return on investment will be less than 5% in a few years’ time. But a decade of deals shows PPD’s buyers benefiting from a trend for clinical trials to be outsourced. That may be true again this time.
Vaccine fiasco casts long shadow over Oxford IPO 12 Apr 2021 A university spinoff behind the AstraZeneca jab is listing for a mooted $700 mln. Vaccitech’s technology might combat diseases from cancer to hepatitis. Yet lingering doubts over efficacy and side-effects on Covid-19 patients are a risky legacy in a highly competitive sector.
DiaSorin wisely hedges against Covid-19 test slump 12 Apr 2021 The Italian diagnostic group which has benefited from pandemic demand is buying smaller U.S. peer Luminex for $1.8 bln. Thanks to hefty cost savings the deal makes financial sense. With vaccinations accelerating, it’s a good time to seek more enduring sources of revenue.
Covid-testing IPO is bet on long hypochondria 7 Apr 2021 German diagnostic tester Synlab is planning to float with a mooted $7 bln valuation. A receding pandemic may mean its 38% revenue growth in 2020 isn’t repeated. But the price reflects that, and consumers may well continue to obsess about other aspects of their health.
Cox: Global vax race is lesson in risk appetites 18 Mar 2021 The widening gap between the jabbed and the jab-nots, with the U.S., UK and Israel light years ahead of Europe and Canada, isn’t just about healthcare systems. It’s about culture, too. Some societies are just better at embracing innovation and putting faith in technology.
Capital Calls: TV’s royal boost, Shared offices 9 Mar 2021 Concise views on global finance in the Covid-19 era: Oprah Winfrey’s interview with Prince Harry and his wife Meghan is a boon for ViacomCBS’s streaming ambitions; IWG’s revamp depends on a workplace revolution.
Guest view: 2021 is tipping point to hit net zero 25 Feb 2021 Economic crises often see innovation budgets cut. With energy efficiency trends worsening governments must hold the line, urge IRENA’s Francesco La Camera and the IEA’s Fatih Birol. A big chunk of decarbonisation will come from technologies that are still at the prototype phase.
Breakdown: Slaying virus Hydra is Herculean task 12 Feb 2021 Like the Greek serpentine monster, Covid-19 is mutating. Though vaccines are effective at defeating the original virus, their ability to protect against new variants is uncertain. Breakingviews explains why the world faces a prolonged fight to get back to normal.
Corona Capital: Video rental stores, Conagra 7 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: A last surviving U.S. video rental chain shutters, Conagra’s boosted sales aren’t enough for investors.
Corona Capital: Icahn, Productivity, Natixis 4 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Carl Icahn sells half his Herbalife Nutrition stake; an ECB survey suggests Covid-19 will make big firms more productive, but that may not be all good news; and Natixis fast-tracks its overhaul.