Drug colossus Novartis will pay as much as $3.075 billion to buy out private equity firm Blackstone’s majority share of Anthos Therapeutics.
Tag: Economy
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SPECIAL REPORT: CHINA’S TECH SURGE
China’s tech stocks are surging in price in the wake of start-up DeepSeek’s announcement of its world-class artificial intelligence system developed at a fraction of the costs that Western developers have incurred to create theirs.
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LUXURY GROUP KERING’S SALES DIVE
Kering, the luxury conglomerate that owns 21 luxury brands including Brioni, Cartier, and St. Laurent, posted fourth-quarter sales down 12 percent to €4.4 billion, year on year, sunk by weakness in Gucci, the division that accounts for half of its sales and two-thirds of its profits.
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MICHELIN MAY EXPAND U.S. FACTORIES, EUROPE IS “NO LONGER ECONOMICAL”
French tire company Michelin is considering expanding its U.S. production facilities so it can make more tires in America and avoid looming tariffs president Donald Trump has threatened to impose on all goods arriving from Europe.
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NESTLÉ’S 2024 SALES GROWTH, WEAKEST IN 25 YEARS, SHOWS SIGNS OF TURNING
Last year, international food conglomerate Nestlé reported overall sales growth of 2.2 percent, the weakest in more than 25 years as cash-strapped consumers switched their purchases to generic or discount alternatives to nationally-advertised brands.
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SPOTLIGHT: MERGERS AND ACQUISITIONS
Disruptive technological innovation, a retreat from globalization, lower interest rates, and a lighter regulatory touch in the U.S. will enable activity in mergers and acquisitions to grow robustly this year after 2024, when dealmaking began to revive after more than two years of stagnation, Bain & Co. reported in its annual analysis of the M&A market.
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TOP TREND 2024: EV GO FU
As sales of electric vehicles (EVs) have slowed, Porsche has announced it will invest €800 million in additional development of internal combustion cars and plug-in hybrids.
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SPOTLIGHT: TROUBLES CONTINUE IN THE LUXURY BUSINESS
Luxury icon Gucci has fired Sabato De Sarno, its lead designer, after just two years on the job. He was judged to have failed in his assignment to rekindle excitement for the brand.
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SPOTLIGHT: BIGS GETTING BIGGER
As we had forecast, with Donald Trump winning the race to the White House and promising to cut corporate taxes and lower interest rates, M&A activity will accelerate. Here are the latest deals… FRONTIER TRIES AGAIN TO BUY SPIRIT AIRLINES Spirit Airlines has spurned a $2.1-billion cash-and-stock offer from Frontier Airlines, saying the offer was......
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TOP TREND 2023: OFFICE BUILDING BUST
Investors began to return to commercial properties in the latter part of 2024 but are still avoiding office buildings as a category, the Financial Times reported.