Fox Business Flash top headlines for June 23 Check out what’s clicking on FoxBusiness.com. The Biden administration on Wednesday ordered a ban on U.S. imports of a key solar panel material from Chinese-based Hoshine Silicon Industry Co. over, forced labor allegations, said two sources briefed on the matter. Stocks in this Article The U.S. Commerce Department separately restricted exports to […]
Read more
Firm to focus on electric 3-wheelers, expansion plans Tube Investments of India Ltd. (TIIL) proposes to spend ₹200-₹250 crore for FY22 in capital expenditure on its electric three-wheeler project and expansion plans, said a top official. “For the current fiscal, the capex could be in the range of ₹200-₹250 crore (₹129 crore in FY21),” K. Mahendra Kumar, CFO, said. “A […]
Read moreWill there be a return of $100 oil? Maglan Capital President David Tawil discusses the state of the oil industry Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs. Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last […]
Read moreShares of BT Group plc were gaining around 3 percent in the morning trade in London after Billionaire Patrick Drahi’s Altice Group, a French telecom major, said Thursday that it has acquired 1.20 billion shares in the British telecom major, representing 12.1% of its share capital. Meanwhile, Altice UK, which has been established for the purpose of holding the shares […]
Read more
Fiscal deficit to widen by only 0.4%: UBS The government’s move to supply free coronavirus vaccines to the States for universal inoculation and extend free rations to help the poor tide over the pandemic will only add an additional 40 basis points (bps) of GDP to fiscal deficit, says a report. The increased allocation of free vaccines to all above […]
Read moreFinancial holding company United Bankshares, Inc. (UBSI), the parent company of United Bank, announced Thursday its agreement to acquire Community Bankers Trust Corp. (ESXB), the parent company of Essex Bank. Under the definitive merger agreement, United will acquire Community Bankers Trust in exchange for its shares. The exchange ratio will be fixed at 0.3173 of United’s shares for each share […]
Read moreGerman biotechnology company MorphoSys AG (MOR,MPSYY.PK) on Wednesday announced that it has entered into a definitive agreement to acquire Constellation Pharmaceuticals, Inc., (CNST) for $34.00 per share in cash, which represents a total equity value of $1.7 billion. MorphoSys also announced that it has entered into a long-term strategic funding partnership with Royalty Pharma plc (RPRX). In pre-market activity on […]
Read moreVeracyte, Inc. (VCYT) announced Tuesday it has agreed to acquire HalioDx in a transaction to further accelerate growth and strengthen Veracyte’s global leadership in cancer diagnostics. The proposed deal will fuel growth by enabling IVD test development and manufacturing, deepening scientific capabilities and expanding cancer diagnostics scope to 8 of the 10 top cancers in the U.S. HalioDx is an […]
Read moreClarivate plc (CLVT), a provider of trusted information and insights to accelerate the pace of innovation, announced Monday a definitive agreement to acquire ProQuest, a software, data and analytics provider to academic, research and national institutions. The consideration for the acquisition is $5.3 billion, including refinancing of ProQuest debt. The consideration comprises approximately $4.0 billion in cash and $1.3 billion […]
Read more