Antimonopoly regulator of EU approved the agreement of 16.2 billion euro merger with French group for the production of luxury goods LVMH (Louis Vuitton Moet Hennessy) and transnational jewelry company Tiffany. This was reported by Reuters.
According to the information, the merger agreement was approved without additional conditions for the companies.
Earlier, Tiffany reported that the lawsuit had been filed in a Delaware state court against the French concern LVMH due to the delay in the last stage of the merger process, in which it stated that LVMH postponed the submission of the documentation to the antitrust authorities. The company attributed this to the French government’s desire to persuade the United States to impose additional duties on the number of French goods, including luxury items.
Created by Bill Gates, Microsoft third time topped the annual ranking of the 100 most responsible US corporations. This was announced by Forbes on Wednesday, October 14.
Also in the top five of the updated list, in addition to Microsoft, included only technological giants – NVIDIA, Apple, Intel Alphabet.
“Forbes compiled the rating together with the non-profit organization Just Capital. The rating was formed after studying data on the 928 largest public corporations in the United States from the Russell1000 index,” – it is said in the article.
It is specified that in addition to open corporate reports and research, in compiling the rating used survey data of 110 thousand Americans, who told the authors of the study which aspects of corporate relationships they consider to be the most important.
The top ten rankings look like this:
- JPMorgan Chase
- AT & T
- Cisco Systems
The Just100 rating is published for the fourth time. In 2017 the first place took the company Intel, after which Microsoft became the first for three years in a row.
Companies Vir Biotechnology, Inc. and GlaxoSmithKline plc (GSK) announced the global extension to phase 3 of the COMET-ICE study, which evaluates the effectiveness of monoclonal antibodies – VIR-7831 for early treatment of COVID-19 in patients at high risk of hospitalization. VIR-7831 (also known as GSK4182136) is the fully human monoclonal antibody against SARS-CoV-2, selected for its ability to neutralize the virus, to kill infected cells and reach the high concentrations in the lungs (one of the main foci of infection). Following the positive evaluation of the safety data at the initial stage of the Independent Data Monitoring Committee on 30 September 2020, COMET-ICE’s registration study will now be expanded worldwide to include additional clinical bases in the North and South America as well as Europe. Prior to this expansion, COMET-ICE, originally planned as the Phase 2-3 study, took place only in the United States. It is expected that in early 2021 the product will be available for limited clinical use.
The increased risk of the hospitalization is judged by such comorbidities as diabetes, obesity, renal or heart failure, chronic obstructive pulmonary disease, bronchial asthma, age over 55 years. In addition to VIR-7831, the immunology company is also developing antibodies against hepatitis B virus, influenza A, human immunodeficiency virus and tuberculosis.
Eli Lilly and Regeneron have applied to the Food and Drug Administration (FDA) for the permission to use emergency coronavirus drugs. Eli Lilly conducted clinical trials with the placebo group, as a result of which the drug has proven its antiviral action. Regeneron did not provide the research data, but the company’s drug was widely publicized by the US president.
Pharmaceutical companies Eli Lilly and Regeneron have requested the Food and Drug Administration (FDA) to authorize the emergency use of their experimental monoclonal antibody preparations for the treatment of patients infected with Covid-19.
Eli Lilly reports that the drug LY-CoV555 aimed at the treatment COVID-19 mild to moderate severity. It can also be used to prevent the deterioration of infected patients, belonging to risk groups, which include people over 65 and those who have obesity.
The drug was developed based on the blood sample of the patient who survived the coronavirus infection at the beginning of the outbreak, in collaboration with Eli Lilly and the Canadian company AbCellera Biologics. The pharmaceutical company promises to produce 100,000 doses of the drug in October and more than one million by the end of the year. In the next month, after receiving these studies, it is planned to submit a similar application for approval of the two-component antibody therapy called LY-CoV016, which was also created by the Chinese company Junshi Biosciences.
Last month, the company’s test results were published, according to which the drug monoclonal antibodies reduced the frequency of hospitalizations, compared with placebo in the study. 1.6% of participants who received the drug were hospitalized or visited the emergency department due to coronavirus infection, compared with 5.8% of placebo subjects.
Regeneron, in turn, filed the application on the same day when US President Donald Trump publicly praised the company’s drug, clinically proved its effectiveness, and called it “God’s blessing,” after the adoption of which “It immediately became easier.”
Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the 52-week high of $ 502.49 reached on September 1.
On Wednesday, Tesla`s CEO, Elon Musk, said that the next year at its plant in Berlin, the company will produce the Model Y with “significant production risk” as will work on a new design of the battery and with the new technologies. The Tesla plant in Berlin is scheduled to launch in the second half of 2021.
Musk noted that Tesla’s plants in Fremont and Shanghai would take about two years to implement the new technology.
The Cabinet of Ministers has made changes to the Affordable Loans program of 5-7-9%. This was reported by the press service of the Ministry of Finance.
In particular, the maximum level of annual income of enterprises was raised to the equivalent of 10 million euros, and the current requirement for the mandatory business profitability has been abolished – decisions will be made by the creditor banks.
In addition, the changes expanded the purpose of the use of the credit funds – the possibility of acquiring land both separately and together with non-residential real estate.
Amendments to the 5-7-9% program were adopted as a part of the government’s order to develop and approve the program of the financial support for small and medium enterprises, as well as business entities in the field of culture, creative industries, tourism, whose activities are influenced by the restrictions associated with the spread of COVID -19.
The Bank of Japan has announced plans to begin experimenting with the digital currency early next fiscal year.
At the first stage, it is planned to test the main functions of the digital currency, including the methods of its issuance and circulation.
The second stage involves additional technical experiments. The Bank of Japan may then consider the pilot program involving payment service providers and users.
The decision came after how on Friday the seven major central banks agreed that the introduction of digital currencies should not undermine price or monetary stability.
It is noted that the European Central Bank and the US Federal Reserve have joined the agreement with the Bank of Japan.
At the same time, the agency notes, The Bank of Japan states that “at the moment it has no plans to issue such a currency, but it needs to explore the possibility more specifically and practically.”
Ukrainian IT company the Archer Software has announced an agreement with the American company Cprime. This was reported on the company’s website. The amount of the deal is not disclosed, but the publication Ain says, “According to experts, 100% of the company could be valued at 5-8 million dollars.”
But the transaction amount may vary in both directions, based on the internal situation in the business under the influence of the COVID and the terms of the agreement agreed by the parties, – it is told in the message.
Cprime is the American company that has been part of the Alten Group since 2014, which is engaged in IT development, network technologies and IT consulting, and the total staff of its companies – 37,200 employees, with the turnover of 2.6 billion euros.
On Thursday, Advanced Micro Devices Inc. has introduced the long-awaited line of four next-generation Ryzen 5000 series CPUs for the desktop PCs, based on the new Zen 3 architecture.
Ryzen 5000 series products are based on the 7-nm manufacturing process of the Taiwan Semiconductor and designed for the computer gamers and the content creators.
AMD noted that these new chips provide significant improvements in the game performance, video editing and automated software design and compilation.
In this case, AMD also announced that its line of desktop processors Zen 3 showed more than 2.8 times better efficiency than the 10-core processor Core i9-10900K from Intel.
The new processors are expected to be available on November 5.
The new flagship CPU chip Ryzen 9 5950X has 16 cores, 32 stream and 72 MB cache with a price of $ 799.
AMD said the Ryzen 9 5950X delivers “the highest single-threaded performance of any desktop processor.”
AMD has demonstrated the tests that show that the Ryzen 9 5900X is slightly superior to the Intel’s 10-core Core i9-10900K processor when playing popular games and running the test to create Cinebench content, at the same time its retail price is cheaper.
Su also announced a new line of Radeon RX 6000 (Big Navi) gaming GPUs, which is based on the architecture of the next generation, known as RDNA 2, and will be officially unveiled at the event on October 28.
Chip maker, Advanced Micro Devices, is in talks to buy a rival chip maker – the American company Xilinx, reported The Wall Street Journal. The deal might be exceeding to $ 30 billion and could be announced for the next week.
The merger will become one of the largest transactions in the industry this year, along with the planned acquisition of the British processor developer Arm by the NVIDIA company for $ 40 billion. AMD may pay for the purchase with its own shares, which have risen significantly in the recent times, the WSJ reported.
On Thursday, October 8, the Xilinx`s shares rose on 0.15% to $ 105.99. On Friday, October 9, quotations soared at pre-auction by 16.61% to $ 123.59. At the same time, AMD shares fell by 4.06% to $ 83. In this way, investors recoup the costs that the buyer will incur during the takeover. Capitalization of the Xilinx’s market is now about a quarter of AMD’s value, which exceeds to $ 100 billion.
Xilinx manufactures programmable chips that are used in the data centers and the 5G base stations. The merger with the Xilinx will give AMD more opportunities to compete with Intel in the lucrative market for the computer components for data centers.
Interest in Xilinx reflects the growing needs of the cloud service providers such as online retailer Amazon or IT giant Google, writes Bloomberg. These companies are investing heavily in the new data centers to meet the growing demand for the computing power.