Apax Partners to buy Apax Global Alpha in $1.1 billion deal
($1 = 0.8576 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
6 minutes ago
- The Independent
AstraZeneca unveils plans for £37bn investment in US amid tariff threats
Drug maker AstraZeneca has announced plans to invest 50 billion dollars (£37 billion) in the US over the next five years amid the looming threat of President Donald Trump's trade tariffs. The Cambridge-headquartered firm said the investment will fund a new 'state-of-the-art' manufacturing facility in Virginia – set to be its largest single manufacturing investment in the world. It will also expand research and development (R&D) and cell therapy manufacturing in Maryland, Massachusetts, California, Indiana and Texas. The announcement marks the latest by a global pharmaceutical giant to expand its footprint in the US as Mr Trump has threatened to impose tariffs of up to 20% on drug imports in an effort to increase manufacturing in America and drive down costs for Americans. AstraZeneca said the mammoth investment will create tens of thousands of jobs across the US, 'powering growth and delivering next-generation medicines for patients in America and worldwide'. The Anglo-Swedish group, which is listed on the FTSE 100, said the investment will also help it towards the group's target of reaching 80 billion US dollars (£59.4 billion) in revenues by 2030. Half of this is expected to come from the US, it added. Pascal Soriot, chief executive of AstraZeneca, said: 'Today's announcement underpins our belief in America's innovation in biopharmaceuticals and our commitment to the millions of patients who need our medicines in America and globally.' Despite being headquartered in the UK, America is AstraZeneca's largest market, where it employs more than 18,000 staff and makes 42% of total group sales. It already has 19 R&D, manufacturing and commercial sites across the country. The new factory planned for Virginia will produce drug substances for the company's weight management and metabolic portfolio, it said. Howard Lutnick, US Secretary of Commerce, said: 'For decades Americans have been reliant on foreign supply of key pharmaceutical products. 'President Trump and our nation's new tariff policies are focused on ending this structural weakness. 'We are proud that AstraZeneca has made the decision to bring substantial pharmaceutical production to our shores.'
Auto Car
6 minutes ago
- Auto Car
Bold new (Amp)era: inside the new generation of range-extender engines
Scharrer sees huge market potential in areas where charging infrastructure remains a barrier to EV sales success. 'I hear comments that this is a very short-term technology and that regulations aren't following,' he laments. 'But if you have a car capable of going 155 miles fully electric, then it has a range-extender for the countryside, why should you be banned from driving it in the city? 'We involve ourselves as much as we can in regulatory discussions. In China, to keep the status of a 'new-energy vehicle' [EVs and plug-in hybrids], you must not connect the internal combustion engine to the wheels. The EU has not finally decided what to do with range-extenders, but I think they realise that this is an interesting opportunity to offer a product which is less dependent on rare materials and cell chemistry because you need a significantly smaller battery. 'They want to understand what the pros and cons are. The whole mobility community is ready for these discussions, because we need them. The past regulation of BEVs has shown that we cannot push things into the market against the customers' will. The easier a solution is, the higher its chance of surviving a long time. And this is quite an easy solution. I personally expect that we will see it beyond the next five to 10 years. I think there will be plenty of applications which really excite people.'
Reuters
7 minutes ago
- Reuters
Shares slip as investors look to earnings, tariff talks
LONDON/SINGAPORE, July 22 (Reuters) - European shares fell on Tuesday, deflated by mixed corporate earnings, while investors took stock of tariff negotiations between the U.S. and its trading partners. The Euro STOXX 600 index (.STOXX), opens new tab fell 0.4%, with bourses in Germany (.GDAXI), opens new tab and France (.FCHI), opens new tab losing 0.7% and 0.5% respectively. Chemical stocks (.SX4P), opens new tab declined 1.2%, with Dulux paint maker Akzo Nobel ( opens new tab losing 1.9% after lowering its core profit outlook for 2025. Earnings from firms including SAP ( opens new tab and UniCredit ( opens new tab were also in focus. Investors were also following tariff talks ahead of Washington's August 1 deadline, with the European Union exploring a broader set of possible countermeasures against the U.S. as hopes for an acceptable agreement fade. The euro was steady at $1.1689, after rising 0.5% on Monday, but was still away from the near four-year high it touched at the start of the month. The single currency is up 13% this year as investors look for alternatives to U.S. assets bruised by tariff uncertainties. "The euro's ability to maintain preference over the dollar amid tariff tensions will depend on the extent of any escalation and whether the EU emerges as a relative loser while other countries secure significant deals with the U.S.," ING analysts wrote in a note to clients. Wall Street futures were flat. The S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab closed at record highs on Monday. Investors are awaiting results this week from Wall Street giants Alphabet and Tesla (TSLA.O), opens new tab, as well as from European heavyweights LVMH ( opens new tab, and Roche (ROG.S), opens new tab, as uncertainty over tariffs clouds the outlook. Earlier, Asian share markets drifted lower after scaling a near four-year peak. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab hit its highest level since October 2021 in early Asian hours but was last down 0.5%. The index is up nearly 16% this year. Japanese markets returned after a holiday on Monday following the weekend's election where the ruling coalition suffered a defeat in upper house elections, although Prime Minister Shigeru Ishiba vowed to remain in his post. The yen rallied 1% on Monday, recouping some of the losses from past weeks and was last down 0.3% at 147.73 per dollar. The dollar index , a measure against six other key currencies, was at 97.942. The rumblings around the Federal Reserve's independence and whether U.S. President Donald Trump will fire Fed Chair Jerome Powell have kept investors on tenterhooks in recent weeks. Trump appeared near the point of trying to fire Powell last week, but backed off with a nod to the market disruption that would likely follow. U.S. Treasury Secretary Scott Bessent said on Monday the entire Federal Reserve needed to be examined as an institution and whether it had been successful, exacerbating concerns about the independence of the U.S. central bank. The Fed is widely expected to hold rates steady in its July meeting but might lower rates later in the year. Market focus will be squarely on Powell's speech later on Tuesday for clues about when the Fed might ease policy. In commodities, Brent crude futures fell 0.7% to $68.72 a barrel, while U.S. West Texas Intermediate crude slipped 0.8% to $66.68 per barrel.
