Core Insights - Gossamer Bio's experimental drug for a serious lung and heart condition failed to meet the primary endpoint in a late-stage clinical trial [1] Company Summary - Gossamer Bio announced the failure of its experimental drug in a late-stage study, which is a significant setback for the company [1]

Dollar has lost some of its safe-haven status, ING report says | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration [Purchase Licensing Rights, opens new tab]LONDON, Feb 23 (Reuters) - The dollar has lost some, but not all, of its safe-haven value since 2024, ING said in note on Monday, adding however, that it saw no broad deterioratio ...

Gilead to acquire cancer therapy developer Arcellx for up to $7.8 billion | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Logos of Gilead at the company's booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 6, 2025.REUTERS/Maxim Shemetov [Purchase Licensing Rights, opens new tab]- Companies[Arcellx Inc]Follow[Gilead Sciences Inc]FollowFeb 23 (Reuters) - Gilead Sciences will pay as much as $7.8 billi ...

Investment Plan Overview - Enel plans to invest approximately $63 billion in total, with a significant portion allocated to power grids in Spain through its subsidiary Endesa [1][2] - The investment in Spanish power grids is projected to be around 5.5 billion euros ($6.5 billion), representing about 21% of the total grid investment [2] Historical Context - This new investment marks a substantial increase from the previous allocation of roughly 4 billion euros by Endesa for power grid investments [3] - The decision comes in the wake of a massive blackout in Spain and Portugal on April 28, which has intensified discussions regarding the necessity and returns of investments in the power network [2] Regulatory Environment - Spain's competition watchdog has set the expected financial return for power grid activities at 6.58%, which is lower than the over 7% return that Spanish power utilities, including Endesa, have advocated for [3]

Company Overview - Generate Biomedicines, a drug developer based in Somerville, Massachusetts, is targeting a valuation of up to $2.17 billion in its upcoming initial public offering (IPO) in the United States [1] - The company is backed by venture firm Flagship Pioneering and aims to raise up to $425 million by offering 25 million shares priced between $15 and $17 each [1] IPO Details - Generate Biomedicines plans to list on the Nasdaq under the symbol "GENB" [1] - The IPO comes as biotech offerings have seen a strong start this year, following a sluggish 2025, attributed to easing interest rates and increased capital inflows into the sector [1] Underwriters - The underwriters for the offering include Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor [1]

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Novo Nordisk slump wipes out last Wegovy-era gains after trial setback February 23, 202611:43 AM UTCUpdated ago By Reuters The logo of pharmaceutical company Novo Nordisk is displayed on a flag in front of its offices in Bagsvaerd, Copenhagen, Denmark, February 4, 2026. REUTERS/Tom Little Purchase Licensing Rights, opens new tab Feb 23 (Reuters) - Novo Nordisk (NOVOb.CO), opens new tab shares ...

Core Viewpoint - Merck is restructuring its human-health business into two divisions to mitigate the impact of the impending patent loss of its leading drug, Keytruda [1] Group 1: Business Restructuring - Merck will create a separate division for its cancer drugs, which will include Keytruda [1] - The other division will focus on non-cancer products [1] Group 2: Market Context - The restructuring is a strategic response to the pressures associated with the patent expiration of Keytruda, which is Merck's top-selling drug [1]

Core Viewpoint - The U.S. Supreme Court will hear cases involving ExxonMobil and cruise operators regarding compensation for property seized by Cuba under the Helms-Burton Act, amidst increasing pressure from the Trump administration on the Cuban government [1]. Group 1: Legal Context - The Helms-Burton Act, enacted in 1996, allows American companies to sue for compensation for property confiscated by Cuba's government after the 1959 revolution [1]. - ExxonMobil is seeking over $1 billion in compensation for its oil and gas assets seized in 1960, which were valued at $70 million at the time of confiscation [1]. - The Supreme Court's decision could clarify the extent of remedies available under the Helms-Burton Act and potentially eliminate barriers for claimants [1]. Group 2: Specific Cases - ExxonMobil's case involves accusations against Corporación CIMEX, Cuba's largest conglomerate, for profiting from the confiscated property [1]. - The cruise line case involves four operators—Carnival, Royal Caribbean, Norwegian Cruise Line, and MSC Cruises—accused of unlawfully using docks built by an American company that were also seized in 1960 [1]. - A federal judge previously ruled that the cruise lines engaged in trafficking, imposing judgments exceeding $100 million, but a lower court later dismissed these judgments [1]. Group 3: Political Implications - The Trump administration supports ExxonMobil's litigation, labeling Cuba as a significant threat to U.S. national security and threatening tariffs on countries supplying fuel to Cuba [1]. - The Helms-Burton Act's provision allowing lawsuits has been suspended by previous presidents to avoid diplomatic conflicts, but Trump lifted this suspension in 2019 [1].

Core Insights - Wipro's CTO views AI as a significant opportunity for the software services industry, expecting it to enhance demand rather than threaten the outsourcing model [1] - The IT sector, valued at $283 billion, is currently facing market selloff due to fears that AI could disrupt traditional labor-intensive operations [1] - AI is anticipated to create 170 million jobs globally while displacing approximately 92 million, indicating a net positive impact on employment [1] Industry Perspective - The current focus on task automation is seen as too narrow; the shift towards "autonomous enterprises" will require deeper collaboration between IT service providers and clients [1] - Wipro emphasizes the need for "AI literate" engineers, countering predictions of a hollowing out of the traditional staffing pyramid in the industry [1] - The transition to autonomous enterprises is expected to shape technology spending for the next decade, with AI being a dominant force in driving business [1]

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Chevron and Basra Oil Co to exchange data, enter exclusive talks over West Qurna 2 February 23, 202610:45 AM UTCUpdated ago By Stephanie Kelly A Chevron logo at the Chevron building in Houston, Texas, U.S. August 19, 2025. REUTERS/Kaylee Greenlee Purchase Licensing Rights, opens new tab LONDON, Feb 23 (Reuters) - Chevron (CVX.N), opens new tab said on Monday it had entered into agreements with ...