Core Viewpoint - Novartis is selling its entire 70.68% stake in its Indian unit to a consortium consisting of WaveRise Investments, ChrysCapital, and Two Infinity Partners [1]. Company Summary - The transaction involves the complete divestment of Novartis's stake in its listed Indian subsidiary, indicating a strategic shift in the company's investment focus [1]. - The consortium acquiring the stake includes notable investment firms, suggesting confidence in the potential of the Indian market [1]. Industry Summary - The sale reflects ongoing trends in the pharmaceutical industry where companies are reassessing their international investments and focusing on core markets [1]. - The involvement of multiple investment partners in the acquisition highlights the growing interest in the Indian pharmaceutical sector, which is seen as a lucrative market for future growth [1].

Group 1: Leadership Change - Koji Sato is being replaced by Kenta Kon as CEO of Toyota after three years, reflecting a strategic shift amid rising cost pressures [1] - Sato will transition to the role of vice chairman and chief industry officer, having delivered record sales and profit during his tenure [1] - The management change is seen as a response to the need for a leader better suited to address mounting costs and competitive pressures in the automotive industry [1] Group 2: Financial Focus - Toyota is increasingly focused on lowering its break-even point due to higher costs, including those from U.S. tariffs, and the need for significant investment in technology [1] - The company plans to spend 360 billion yen (approximately $2.3 billion) in the current financial year to support suppliers, viewing this as an investment in competitiveness rather than just a cost [1] - Toyota raised its full-year profit outlook by 12%, aided by cost-cutting measures, and has performed better than competitors due to its strategic focus on gasoline-electric hybrids [1]

Group 1 - Tesla has reduced the price of the Cyberbeast variant of its Cybertruck from $114,990 to $99,990 in the United States [1] - The price cut reflects Tesla's strategy to remain competitive in the electric vehicle market [1] - The pricing information was confirmed through Tesla's official website [1] Group 2 - The reduction in price may influence consumer demand and sales figures for Tesla's Cybertruck [1] - This move comes amid a broader context of price adjustments within the automotive industry, particularly among electric vehicle manufacturers [1] - The Cybertruck's price adjustment could impact Tesla's market positioning against competitors [1]

Volkswagen workers ratify first UAW contract, marks win for labor in the South | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]A view of the Volkswagen plant where workers are voting on whether to join the United Auto Workers union (UAW), in Chattanooga, Tennessee, U.S., April 18, 2024 REUTERS/Nora Eckert/File Photo [Purchase Licensing Rights, opens new tab]- Companies[Volkswagen AG]Follow[Ford Motor Co]Follow[General Motors Co]Fol ...

Oil prices were higher on Friday as concern of conflict between the U.S. and Iran ratcheted up, with Washington saying Tehran will suffer if it does not agree a deal about its nuclear activity within a matter of days. ...

Australia's Santos signs gas supply agreement for Whyalla Steelworks | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]A Santos logo is visible outside their headquarters in Adelaide, Australia, September 18, 2025. REUTERS/Hollie Adams//File Photo [Purchase Licensing Rights, opens new tab]- Companies[Santos Ltd]FollowFeb 20 (Reuters) - Australia's Santos [(STO.AX), opens new tab] said on Friday it has signed an agreement with the Sou ...

Group 1 - Nvidia is nearing the completion of a $30 billion investment in OpenAI, which will replace a previously agreed long-term commitment of $100 billion from last year [1] - This investment is part of a new funding round for the AI startup OpenAI [1]

Alliant Energy beats quarterly profit estimates on strong power demand | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]- Companies[Alliant Energy Corp]FollowFeb 19 (Reuters) - U.S. utility Alliant Energy [(LNT.O), opens new tab] beat Wall Street estimates for fourth-quarter profit on Thursday, benefiting from robust power demand and strong performance in its electric and gas segments.U.S. electricity use reached record highs last y ...

Citi bolsters private bank leadership in North America push | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Citi Bank logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo [Purchase Licensing Rights, opens new tab]Feb 19 (Reuters) - Citigroup's [(C.N), opens new tab] Private Bank North America has appointed Chad Reddy as its market executive for the West, the bank said on Thursday.A 25 ...

HSBC cuts 10% of US debt capital markets team, Bloomberg News reports | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic/Illustration [Purchase Licensing Rights, opens new tab]Feb 19 (Reuters) - HSBC [(HSBA.L), opens new tab] cut 10% of its U.S.-based debt capital markets team, continuing to cull costs after announcing a revamp of the business last Octobe ...