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.
Big Pharma’s vaccine immunity will be fleeting 18 Dec 2020 Groups like Pfizer and AstraZeneca are emerging as pandemic heroes. Their ability to rapidly test, make and distribute vital doses will help quiet the industry’s critics. However, universities and governments also played a big part. Pressure to slash drug prices will soon return.
Corona Capital: Filming drama, Spanish bank 16 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Actor Tom Cruise’s outburst about social distancing may not have been scripted, but it’s on point; Spanish bank Sabadell lines up a new leader.
Companies will be first line of U.S. virus defense 26 Feb 2020 The White House is downplaying the spread of the coronavirus, perhaps to calm markets. If there’s an outbreak, it may be up to CEOs to make calls that would hurt the economy, like closing factories. It would follow the trend of firms stepping up where government has left a void.
Biotech undergoes the ultimate trial by epidemic 11 Feb 2020 Outfits like $8 bln Moderna have unproven technologies that could speed vaccine development, and cut costs to fatten thin profit margins. The battle against Chinese coronavirus provides a chance to demonstrate proof of concept. Success will depend on convincing regulators.
Virus tests Hong Kong market’s resistance 29 Jan 2020 A full-blown epidemic would rock what is already the year’s worst-performing major exchange index following a fresh 3% fall. Though a protest-related tourism tumble may prove a blessing in disguise, anti-Beijing public sentiment is also complicating the health response.
Donald Trump may be surprise science benefactor 31 Dec 2019 It sounds like an odd accolade for a U.S. president who once dubbed climate change a “Chinese hoax.” But a call from his administration to make federally funded research done by academics free could benefit the public good. The losers would be toll keepers like $48 bln RELX.
DSM’s two new heads stretch sustainability halo 2 Dec 2019 Feike Sijbesma is leaving the $23 bln Dutch maker of food supplements and fibres. In 13 years as CEO, he championed planet-friendly businesses while delivering a 443% return to investors. Handing the job to two subordinates adds a governance challenge to sky-high expectations.
UK $4 bln science LBO tests secondary-buyout craze 21 Nov 2019 Cinven, Astorg and Abu Dhabi’s wealth fund are taking a drug-testing group off KKR’s hands. The buyer knows the sector and has a clear M&A-driven plan, but the price is high. With tons of buyout cash and weak IPO markets, such eyebrow-raising “pass the parcel” deals will boom.
Nobel Prize for batteries has a negative side 9 Oct 2019 The Swedes awarded this year’s chemistry gong to the creators of the lithium-ion battery. Its use in everything from smartphones to cars should help the energy business become more climate-friendly. But the technology creates some of its own pollution, resource and social risks.
Review: Fighting the second Cold War, lab by lab 26 Jul 2019 U.S. scientific power is a potent diplomatic weapon. Greg Whitesides's new book details how Washington used research largesse to reward friends and punish the Soviet Union. Now a similar conflict is brewing with China, a more formidable rival. This time, there can be no winner.
Nature is capitalism’s biggest loser 6 May 2019 Hedge-fund boss Ray Dalio and others rightly fret about the gap between rich and poor. Global poverty is on average declining, at least. But a new report shows land, water and species pay an unsustainable price. Changing that means properly valuing what underpins human gains.
U.S. AI export crackdown may hurt people, too 1 Apr 2019 Foreigners in America could get caught in a government proposal to restrict exports of robotics and other tech to China and elsewhere. A license may be needed for temporary residents to work on such projects. It would undercut Alphabet, Amazon and others that recruit overseas.
China’s gene-edited babies cry out to regulators 29 Nov 2018 A scientist says he genetically altered human embryos to protect them from HIV, sparking a firestorm. Clearer guidelines are needed, but sweeping restrictions could stifle biotech innovation. The Chinese research community’s weak self-discipline is another problem.
Cannabis industry shops for a suit and tie 16 Nov 2018 Money is pouring into weed as valuations rise and legal barriers fall – nudged further by recent U.S. election results. Companies like Canopy, Aurora and MedMen are starting to take on a veneer of acceptability. That doesn’t make them good investments, but it’s progress.
Guest view: Climate activism nears final frontier 17 Oct 2018 Google, Planet, MethaneScan and space agencies are starting to track pollutants from orbit, giving big emitters like Coal India and PetroChina more reason to come clean. That, writes Thomson Reuters sustainability guru Tim Nixon, gives a needed boost to tackling global warming.
Bayer’s lowly valuation lacks positive catalyst 5 Sep 2018 The German drugs-to-seeds maker’s sales rose 9 pct in the second quarter, helped by its pricey acquisition of Monsanto. That deal is tarnished by lawsuits, while Bayer’s consumer and pharma units also face challenges. Though the bad news is priced in, the discount will persist.
Spurned $3 bln satellite group still in M&A orbit 9 Jul 2018 Inmarsat seems a plausible target despite U.S. peer EchoStar dropping its offer. The shares are down a third in a year, and on some estimates fail to reflect the value of the spectrum it controls. The former Permira buyout may appeal to private equity, or to satellite rivals.
Roche throws $2.4 bln at its growth problem 19 Jun 2018 The drugmaker is paying a 29 pct premium to buy out shareholders in a gene-profiling group it already controls. The deal fits its strategy, but will take years to pay off. With Roche’s cancer business challenged, fuzzy M&A is another reason for investors to steer clear.
Springer’s IPO struck down by multitude of sins 9 May 2018 The German publisher postponed a $4 bln offering. The stable, growing business should have been an easy sell. High debt, low liquidity and an accounting squabble were turnoffs. With interest rates rising, and markets more volatile, investors are less willing to take a risk.