Apr 6, 2023

Report on Shell’s Russia Exit Jolts Ruble as Volumes Dwindle Europe at Risk of Dengue and Zika Summer Outbreaks, WHO Warns Jefferies Taps Barclays’s Jhaveri to Help Build India M&A Team Billionaire Agarwal’s India Chip Dream at Risk as Hurdles Mount THG Strikes Fresh Deal for Online Beauty Commerce : The London Rush ADM Targets Gut Health in Partnership With Startup Brightseed Ipsen Hunts For Targets With $4.4 Billion to Spend, CEO Says Australia Cancels License for Binance’s Derivatives Business TPG-Backed Inova in Talks to Buy Mundipharma’s OTC Business, Sources Say Nervous Investors Drive VC Funding for Startups Down 55% French Unions Renew Strikes to Push Macron Into Pension U-Turn Ukraine Latest: Donetsk Battle Ongoing, Putin Meets Belarus Ally Asia Stocks Set to Echo US Dip on Recession Fears: Markets Wrap US Criticizes China’s Pattern of Moves Against Foreign Firms Harris to Announce Largest-Ever US Order for Shared Solar Activist Investors Seek TotalEnergies Vote to Curb Emissions Further The Arctic’s Peak Ice Cover Has Shrunk by an Area Larger Than Egypt India Central Bank Surprises By Rate Hold, Sticks to Stance UK Housing Market Slump Drags Construction Activity Lower Jefferies Taps Barclays’s Jhaveri to Help Build India M&A Team THG Strikes Fresh Deal for Online Beauty Commerce : The London Rush Pakistan Moves Closer to IMF Loan After Saudia Commits Funds Australia Cancels License for Binance’s Derivatives Business Ukraine Latest: Donetsk Battle Ongoing, Putin Meets Belarus Ally Asia Stocks Set to Echo US Dip on Recession Fears: Markets Wrap US Criticizes China’s Pattern of Moves Against Foreign Firms Oil Set for Third Weekly Gain on OPEC+ Cuts, Inventory Draws Harris to Announce Largest-Ever US Order for Shared Solar Activist Investors Seek TotalEnergies Vote to Curb Emissions Further The Arctic’s Peak Ice Cover Has Shrunk by an Area Larger Than Egypt India Central Bank Surprises By Rate Hold, Sticks to Stance Iran Oil Snapped Up by Chinese Private Refiners as Market Shifts Elon Musk Sees a $4 Trillion Cost to Stick With Fossil Fuels Europe Gas Prices Resume Slide as Demand Remains Muted Gold Holds Steady Above $2,000 as US Shows Signs of Slowdown Saudi, Iranian Ministers Hold Meeting in China As Ties Warm Spain to Invest $2.3 Billion in South African Energy Transition US Recession Signal Sets Off Global Rush Into Indonesian Bonds Energy executives say feds must make good on pledge to speed up project approvals Canadian merchandise trade surplus slips to $422M in February: StatCan The Daily Chase: Toronto home prices climb; TD Bank short-sellers pile up Competition Ltd.: Why major players dominate Canada's business landscape Auto sales rise 3.7 per cent in March from a year earlier Vancouver's March home sales down 42.5% from a year ago: B.C. board Canada's national office vacancy rate hit an all-time high in Q1: CBRE The Daily Chase: IGM Financial looks to expand U.S. presence; Glencore continues Teck pursuit Trudeau spending seen drawing out Bank of Canada inflation fight Will Canada need to raise its retirement age? Here's what an economist says Businesses worry a recession is down the road: Economist Business outlook turns negative in Canada amid higher rates The Daily Chase: Oil prices rise; Bank of Canada to release Business Outlook Survey Banks face rising shareholder pressure through climate resolutions as AGMs loom The Daily Chase: Markets point to a positive open; Bank of Canada reiterates banking system support Trudeau braces for disruptive strikes amid tough union wage push ​Canada's economy shows signs of improvement: Economist Canada's economy shows surprising resilience despite rate hikes The Daily Chase: Feds green light Rogers-Shaw deal; Canada’s economy grew 0.5% in January US Criticizes China’s Pattern of Moves Against Foreign Firms Macron Urges Xi to Bring Putin ‘Back to Reason’ Over Ukraine Scottish Police Continue SNP Search as Sturgeon Cancels Event Finland’s PM Marin Submits Formal Resignation of Her Government US Lawmaker Compares Xi to Hitler in Meeting With Taiwan’s VP What to Know About Australia’s Indigenous ‘Voice to Parliament’ Vote Sunak Suspends Tory Lawmaker Caught in Times Lobbying Sting Former Finance Minister Simsek to Contribute to Turkey’s Economy Policies, Erdogan Says Saudi, Iranian Ministers Hold Meeting in China As Ties Warm Spain to Invest $2.3 Billion in South African Energy Transition US Dollars Dethrone Zimbabwe’s Currency for Second Time Orban Seeks to Extend Emergency Rule in Hungary by Six Months South Korean Court Ups Mitsubishi Patent Seizures in Labor Case Trump Campaign Tries to Raid DeSantis Donors With Pollster Pitch Dutch Coalition at Risk With Farm Party Fighting Climate Targets Anti-Vaccine Activist Robert F. Kennedy Jr. to Challenge Biden McCarthy Calls Trump’s New York Indictment ‘Not a Real Case’ McCarthy Says China Leaders Can’t Dictate Who US Speaker Meets Fox Signals Fight Over Rupert Murdoch Testifying Live at Dominion Trial THG Strikes Fresh Deal for Online Beauty Commerce : The London Rush Australia Cancels License for Binance’s Derivatives Business Nervous Investors Drive VC Funding for Startups Down 55% US Criticizes China’s Pattern of Moves Against Foreign Firms The Arctic’s Peak Ice Cover Has Shrunk by an Area Larger Than Egypt American Dream Falls Flat for UK Firms Listing on Wall Street Temenos Is Seeking Fresh Interest From Private Equity Firms Four Asian Countries Are Leading in US Chip Diversification Move Singapore Plans New Guidance for Banks on Vetting Crypto Clients China Restraint on Taiwan Shows Xi Has Bigger Concerns Right Now Google and Amazon Struggle to Lay Off Workers in Europe Allianz Taiwan Fund Ramps Up Bets on 2023 Chip-Sector Revival Jane Street, Tower and Radix Are Unnamed ‘VIPs’ in Binance Case Samsung Investors Brace for Worst Profit in at Least 14 Years Hottest China Trade May Unravel as Earnings Disappoint Investors Slain Cash App Founder Lee Remembered as a Coder Who Wowed Dorsey Disney Elevates Hulu Chief to Run Its Streaming Business Bob Lee, Former Square CTO and MobileCoin Executive, Has Died Bitcoin Hits a Wall at $28,000 After Bank-Turmoil Rally Fizzles The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Gundlach’s DoubleLine Launches Real Estate and Mortgage ETFs at Tricky Time Stock ETFs See Lowest Quarterly Inflow Since Start of Pandemic Worst-Performing Funds of 2023 Are Drawing Huge Amounts of Cash BlackRock Looks to Offer 'Buffer ETFs' That Aim to Limit Investors' Losses AI and Robotics ETFs Are Hotter for Traders Than Crypto in 2023 Wave of ETF Closures Relegates Once-Trendy Growth Themes to Fads Beijing’s Micron Probe Spurs $12 Billion Rally in China Chip Stocks Bitcoin’s Stealth Rally Puts It Atop the Quarterly Scoreboard Once Again Schwab ETF Logs $4.6 Billion Inflow Amid Quarter-End Shuffle Biotech Stocks Languish After Dismal Quarter of Clinical Results This Week in China: Stock Market Starts to Believe in Recovery Levered Bitcoin ETF Makes Long-Shot Bid at SEC as Crypto Rallies Why ESG in America May Face a Rough Road Ahead Sleepy Schwab Bond Fund Notches $2 Billion of Flows in One Day Options Traders Make Record Bets on $3 Billion Regional-Bank ETF Crypto Advocates Shrug Off CFTC’s Lawsuit Against Binance Crypto Industry Defies Strife as ETP Debuts Pick Up, Flows Rise Vanguard Plans to Open Manchester Office in European Expansion Credit Suisse’s Infamous ETN Misadventure May Be Limping to End BCE CEO says tech hiring & donations continue despite tough economy Cenovus CEO Pourbaix to step down, become executive chair; Jon McKenzie to be new CEO Manulife CEO on diversification, insurance demand and digital transformation Decision on new Suncor CEO expected 'very soon' Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Reed Hastings explains why he's stepping down as Netflix CEO in blog post Bankman-Fried says in court that he's ready for U.S. extradition SBF sent back to Bahamian jail after catching lawyer off guard with U.S. extradition plan Disney's Iger returns to reckon with his own 15-year Legacy Women making small gains, but still troublingly under-represented in the C-suite Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Dominic Barton on Canada-China relations, future at Rio Tinto 'We’re serving Canadians better' following the pandemic: McKesson Canada CEO Rebecca McKillican World's richest family loses US$11.4B in Walmart rout 'Fine balance': Rania Llewellyn on fitting her long-term inclusion goals into Laurentian's revamp First female bank CEO in Canada leads with younger self in mind ​Company holiday parties are making a comeback, but many employers have a plan B Elon Musk and Jeff Bezos now worth almost half a trillion dollars Dong Cao and Manuel Baigorri, Bloomberg News (Bloomberg) -- iNova Pharmaceuticals is in advanced talks to acquire the over-the-counter business of Mundipharma International Ltd., according to people familiar with the matter. The deal could value the assets at about $700 million, the people said, asking not to be identified as the information is private. Negotiations are ongoing and there’s no certainty they will lead to an agreement, the people said. Other bidders could also emerge, they added. Mundipharma is one of the overseas entities slated for sale to help pay for claims against the billionaire Sackler family members and Purdue Pharma LP over their role in the US opioid crisis. The company’s attempt to sell its China assets was halted last year after bids failed to reach the owner’s expectations, Bloomberg News reported at the time. Betadine is the flagship brand of Mundipharma’s consumer health business, according to its website. Betadine Antiseptics, used by NASA to wipe down the Apollo 11 spacecraft when it landed back on earth in 1969, are widely used in hospitals, surgeries and clinics. Mundipharma focuses on treatments in pain management, infectious diseases and consumer health care as well as other severe and debilitating diseases. iNova Pharma owns and distributes a wide range of pharmacy products and prescription medicines addressing weight management, cough and cold, vitamins, dermatology and allergies, among other conditions, according to its website. Some of its key brands are Difflam, Duro-Tuss, Demazin and Dequadin. Its products are available in over 20 countries across Asia, Australasia and Africa. The firm traces it roots back to 1846, when William Riker founded Riker Laboratories in Manhattan, manufacturing and selling medicines out of a small store. 3M Pharmaceuticals, which acquired Riker in 1970, sold its branded pharmaceutical interests globally in 2006, and spun off its businesses in Asia Pacific, Australia and Africa as iNova Pharma. TPG Inc. last year acquired a majority stake in iNova Pharma, while existing investor Pacific Equity Partners re-invested as a minority stakeholder. A representative for TPG declined to comment, while representatives for iNova and Mundipharma didn’t immediately respond to requests for comment. --With assistance from Elffie Chew and Cathy Chan. ©2023 Bloomberg L.P.