Novartis to Acquire Cadent for up to $770 Million
Novartis has agreed to acquire U.S. based neuroscience company Cadent for up to $770 million, according to press release. Cadent will receive $210 million upfront payment and will be eligible…
Fed’s Benchmark Rate Unchanged at 0.25, Keep Accommodative Monetary Policy
The Federal Reserve kept the target range for the federal funds rate at 0-0.25 until economic conditions stabilize, according to Bloomberg. Fed will also continue bond buys until ‘substantial‘ progress…
U.S. Liquefied Natural Gas Exports Reached a Record 9.4 Bcf/d in November
U.S. Liquefied Natural Gas (LNG) exports hit a peak of 93% capacity utilization in November, according to the Energy Information Administration (EIA) press release. The peak saw LNG exports reach…
U.S. Retail Sales Wanes Further on Rising Virus, Lack of Additional Fiscal Stimulus
U.S retail sales fell 1.1% in November, a second consecutive month, dimming hopes of economic recovery from the pandemic recession, according to CNBC. Retail sales were weighed down by restrictions…
Bitcoin Hits a New Record High, Surpasses the $20,000 Mark
Bitcoin rose as much as 7% on Wednesday to set a new record high of $20,787 as the digital coin continues to catch the eye of Wall Street firms. Bitcoin…
Australia Seeks WTO Intervention as Tensions with China Escalate
Australia will challenge China at the World Trade Organization over Beijing’s imposition of hefty tariffs of its barley exports, according to Bloomberg. Trade Minister Simon Birmingham said, on Wednesday, the…
Investors Brace for Higher Treasury Yields in 2021 as Fed Meeting Nears
A Bank of America survey showed a record 87% of fund managers expect long-term higher Treasury yields, Reuters reports. Another 76% see a steeper yield curve. The higher yields reflect…
Moderna Vaccine is 94.1% Effective Against COVID-19, FDA Report Reveals
The U.S. Food and Drug Administration said on Tuesday, the experimental vaccine from Moderna is 94.1% effective in preventing symptomatic COVID-19, FDA reports. The vaccine was found effective across racial…
U.S. Tech Giants Targeted in Hefty EU Fines over Monopoly
Amazon, Apple, Facebook, and Google face hefty fines of between 6-10% under a draft EU law that seeks to curb their power in data and online platforms, reports Reuters. The…
Apple Plans 30% Boost in iPhone Production for First Half of Next Year
Apple plans to produce about 96 million iPhones for the first half of 2021, a 30% year-on-year increase, according to NIKKEI Asia. The company is also planning an aggressive production…
U.S. Congress Race to Pass Relief, Approve COVID-19 Emergency Aid
The U.S. lawmakers will this week try to end the impasse over federal budget priorities and coronavirus aid ahead of friday midnight deadline, Reuters reports. The House is yet to…
Apple Sends Teams to iPhone Factory in India after Weekend Protests
Apple has dispatched teams to investigate if its Taiwanese contractor Wistron Corporation flouted supplier guidelines at an iPhone manufacturing facility near the Indian city of Bangalore, reports SCMP. The move…
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