Philip Morris gets over a fifth of Vectura shares in takeover tender offer
Cigarette maker Philip Morris International (PMI) (PM.N) said on Wednesday shareholders holding 22.61% of Vectura (VEC.L) shares had tendered their stock to the tobacco group as part of its deal to buy the asthma drug maker for 1.1 billion pounds ($1.51 billion).
Tencent says more regulations set to come as quarterly profit jumps
China’s Tencent Holdings (0700.HK) said on Wednesday that the internet industry should brace for more regulations and uncertainty, but it believed Beijing ultimately wanted to forge a long-term sustainable path for the sector.
BHP, Woodside investors jittery over $29 billion petroleum merger
Shares in BHP Group (BHP.AX) and Woodside Petroleum (WPL.AX) fell on Wednesday as investors on both sides raised questions about the value of the Perth-based oil and gas group’s proposed $29 billion merger with BHP’s petroleum arm.
Analysis: Green-push dilemma: China’s steel curbs could cripple price control efforts
China is facing a high profile test of its commitment to curbing industrial pollution after steel output surged in the first half of the year to well beyond its target of capping production at 2020’s peak, sending emissions to new highs.
China’s Geely warns of chip shortage, but keeps annual vehicle sales target
China’s Geely Automobile Holdings Ltd (0175.HK) retained its annual sales target on Wednesday, betting that new vehicle launches will offset the short-term impact of a global chip shortage and a resurgence of the coronavirus pandemic.
Carlsberg raises guidance as beer volumes recover
Danish brewer Carlsberg (CARLb.CO) raised its full-year earnings guidance on Wednesday after reporting second-quarter sales above expectations as beer volumes exceeded pre-pandemic levels.
MOVES Citigroup poaches Shah from Credit Suisse to boost tech M&A
Citigroup (C.N) has hired veteran tech banker Dhiren Shah from Credit Suisse Group AG (CSGN.S), as it doubles down on investing in its tech franchise, according to a memo seen by Reuters on Tuesday.
Factbox: From e-commerce to education, China’s season of regulatory crackdown
China’s months-long regulatory crackdown on an array of private companies has unsettled tech upstarts as well as decades-old firms, ushering in a new, uncertain environment.
Japan’s exports extend gains, machinery orders fall amid fragile recovery
Japan’s exports marked a fifth straight month of double-digit growth in July, driven by U.S.-bound shipments of automobiles in a positive sign for a trade-led economy, although a key gauge of capital spending fell for the first time in four months.
GM workers’ historic vote in Mexico tests new trade deal
General Motors (GM.N) employee Mari says that for the past decade, she has felt powerless to demand higher pay at the plant in central Mexico that cranks out hundreds of thousands of profitable pickup trucks annually.
