By Selena Li and Xie Yu HONG KONG (Reuters) -Fund manager Fidelity International (FIL) is planning to lay off 20 people at its main China unit, two sources familiar with the matter said, a reduction that coincides with a downturn in China\'s markets and as the firm cuts staff worldwide. The cuts at FIL\'s wholly-owned...
By Scott Murdoch and Roushni Nair (Reuters) -Australia\'s Boral (OTC:BOALY) on Tuesday recommended investors reject its largest shareholder Seven Group Holdings\' A$1.9 billion ($1.25 billion) offer for the company claiming it undervalues the building products group. Seven Group, controlled by billionaire Kerry Stokes and his family, already owns nearly 72% of Boral and had launched...
By Suzanne McGee (Reuters) - The fervor around artificial intelligence has sparked a gold rush into AI-themed ETFs, as investors seek fresh ways to play the burgeoning technology following breathtaking rallies in market darlings such as Nvidia (NASDAQ:NVDA). The funds run the gamut from those offering a bouquet of the biggest AI winners to more...
By Max A. Cherney and Stephen Nellis SAN JOSE, California (Reuters) - Nvidia (NASDAQ:NVDA) Chief Executive Jensen Huang on Monday kicked off his company\'s annual developer conference with a slew of announcements designed to keep the chip maker in a dominant position in the artificial-intelligence industry. On a hockey arena stage in the heart of...
By Engen Tham, Ziyi Tang and Clare Jim SHANGHAI/BEIJING/HONG KONG (Reuters) - A rare Beijing directive to help Vanke beat a liquidity crisis has left lenders scrabbling for the assets that the state-backed developer has proposed for collateral, as parties pull out all the stops to arrest deterioration in the property sector. China Vanke is...
By Scott Murdoch SYDNEY (Reuters) - Australia\'s Macquarie Group (OTC:MQBKY) and Canada\'s Public Sector Pension Investment Board are starting a sales process for their AirTrunk data centre business, according to a source with direct knowledge of the matter. The pair sent non-disclosure agreements on Tuesday to potential buyers to sign ahead of a formal transaction...
By Ankur Banerjee SINGAPORE (Reuters) - Japanese shares ended higher on Tuesday, while the yen slid to 150 per dollar after the Bank of Japan as widely expected ended eight years of negative interest rates and ushered in the nation\'s first policy tightening since 2007. In a week filled with central bank meetings across the...
By Katya Golubkova TOKYO (Reuters) -Nippon Steel would move its U.S. headquarters to Pittsburgh where its acquisition target U.S. Steel is based if the deal goes through, an executive said, adding to the pledges from the Japanese steelmaker to secure the transaction. Nippon Steel\'s proposed $15-billion takeover of U.S. Steel has drawn sharp criticism in...
CONSHOHOCKEN, Pa. - Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a company specializing in treatments for nonalcoholic steatohepatitis (NASH), has upsized its public offering to $600 million, the firm announced Monday. The offering, originally set at $500 million, was increased by $100 million following strong investor interest. The company is offering 750,000 shares of common stock at $260...
On Tuesday, Baird initiated coverage on Alkermes stock (NASDAQ:ALKS), a biopharmaceutical company, with an Outperform rating and a price target of $37.00. The firm\'s analyst cited the company\'s solid financial guidance and promising pipeline as the basis for the positive outlook. Alkermes is projected to generate revenue between $1.5 billion and $1.6 billion for the...