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PFIZER (NYSE:PFE) TO BUY ARRAY BIOPHARMA (NASDAQ:ARRY) FOR $10.64 BILLION

Deal to be completed in the second half of 2019 Array stock up 57% Pfizer Inc. (NYSE:PFE), one of the world’s largest pharmaceutical companies, has agreed to acquire Array BioPharma (NASDAQ:ARRY) for $10.64 billion in cash. The deal is expected to be completed in the second half of 2019. Pfizer was so determined to close the deal that…

AMERICAN AIRLINES (NASDAQ:AAL) DISCUSSING MEGA DEAL WITH AIRBUS (PA:AIR)

American Airlines seeks to purchase up to 50 new A321XLR jets A321XLR model unveiled yesterday in Paris American Airlines Group Inc. (NASDAQ:AAL), the world’s largest airline by passenger traffic, is in talks with Airbus SE (PA:AIR), the world’s second-biggest aerospace firm, to purchase up to 50 new A321XLR jets, launched yesterday. A321XLR, reportedly the world’s “longest range single-aisle…

Equinix (NASDAQ:EQIX) appoints Jon Lin, a company veteran as President, Americas

Equinix Inc. (NASDAQ:EQIX), an American interconnection and data centre company, appointed Jon Lin, as the new President for the Americas region. Lin has worked at Equinix for ten years, and he replaces Karl Strohmeyer who took over the role of Chief Customer and Revenue Officer earlier this year. Lin’s latest role at Equinix was as Vice President of…

Fitch cuts global economic outlook for 2020, blames Sino-US trade war

The forecast does not include the impact of the US raising tariffs on an additional $300 billion Chinese imports. Fitch Ratings cut its global economic outlook for 2020 to 2.7 per cent from 2.8 per cent previously on the back of weaker investment growth in the US, slower consumer spending in China, and downcast economic outlook in emerging…

MoneyGram (NASDAQ:MGI) strikes deal with Ripple; stock soars more than 165 per cent

Ripple agreed to buy $30 million in MoneyGram’s stock at $4.10 apiece; about thrice the price. Money transfer agent, MoneyGram, announced on Monday that it has agreed to use Ripple’s blockchain technology for cross-border transfers of digital funds in a deal that will involve Ripple in buying up to $50 million in the company’s stock at almost thrice…

WarnerMedia close to a $500 million deal with Abrams Bad Robot Productions

WarnerMedia’s streaming service, to be launched later this year, will compete with Netflix and Disney Plus. Shares of AT&T (NYSE:T) settled 0.15 per cent lower at $32.30 on Monday. AT&T’s WarnerMedia is close to signing a $500 million deal with Bad Robot Productions, owned by renowned Hollywood filmmaker Jeffrey Jacob Abrams. Under the agreement, WarnerMedia will reserve the…

BINANCE INTRODUCES BITCOIN-PEGGED TOKEN

Token launched on Binance Chain A new trading pair created Binance, one of the world’s largest cryptocurrency exchanges, announced a Bitcoin-pegged token on Binance Chain (BEP2 token format), its native blockchain network. “The main benefit of offering crypto-pegged tokens is that, obviously, this makes available to Binance DEX traders the many coins that have their own blockchains and…

Alibaba (NYSE:BABA) unveils major business and management shakeup ahead of Ma’s retirement

Alibaba Group Holding Ltd (NYSE:BABA) today unveiled a major management reshuffle where Maggie Wu, the Group’s CFO was put in charge of strategic investments. The Chinese e-commerce giant also merged DingTalk, its software enterprise division, with the cloud division amid a restructuring of its business units. The changes come as the Chinese company shifts its focus to other…

ZCASH TO ROLL OUT NEW SOFTWARE

Software developed in partnership with Parity Technologies Software to provide better security The Zcash Foundation released today the alpha version of Zebra, the first Zcash client written entirely in Rust programming language. Created in a partnership with Parity Technologies, the software was launched two months ahead of schedule. The aim is to provide better security for its crypto…

SAFESTORE (LON:SAFE) PROFIT DROPS 53%

Revenue up by 5.3% Safestore on track to meet full-year expectations Safestore Holdings PLC, the UK’s largest and Europe’s second largest provider of self-storage services, reported a pretax profit of £38.2 million ($48 million) for the six months ending April 30th, significantly lower than £81.9 million for the same period last year. Revenue for that period was £73.1,…

Banco Santander (BME:SAN) denied appeal against Mercado Bitcoin and ordered to pay fine

Banco Santander (BME:SAN) lost an appeal against a ruling in favour of Mercado Bitcoin, a Brazilian crypto exchange by the São Paulo Court of Justice. Mercado Bitcoin sued the Spanish bank in 2018 for allegedly closing its bank account without informing the exchange. Santander had argued that it was concerned about the origin of the account’s funds, given…

Crypto investors laud Facebook Inc.’s (NASDAQ:FB) anticipated foray into digital assets

Several crypto investors have said that Facebook Inc.’s (NASDAQ:FB) entry into the space could be the most significant boost for digital assets since their inception. The social media giant is expected to launch its Libra cryptocurrency that will act as a peer-to-peer payment platform within the messenger app. The company’s share price rose during yesterday’s session, as analysts…

GATWICK AIRPORT REPORTS A 7.3% RISE IN PROFIT

Gatwick recorded a rise in the number of passengers Revenue up by 6.1% Gatwick Airport, also known as London Gatwick, has announced today that it managed to record an increase of 7.3% in annual underlying earnings to £441.4 million, mainly due to a rise in the number of passengers. Revenue jumped 6.1% to £810.8m for the year. “Today’s…

Swedbank suspends executives amid continuing internal investigation

The bank’s former CEO, Birgitte Bonnesen, was dismissed in March over the scandal. The scandal came to light after a Swedish broadcaster reported billions of dollars in illegal funds having passed through the bank’s branch in Estonia. Beleaguered Swedish bank, Swedbank AB, suspended its chief executive and chief financial officer at its Estonia branch as it continues with…