Business
Shares of Fulcrum Therapeutics fell sharply by 50% in premarket trading after the company announced it was discontinuing development of its experimental sickle-cell disease treatment due to safety concerns raised by the U.S. Food and Drug Administration (FDA). The decision centers on the oral drug pociredir,......
DHL Express has stated that its aviation fuel supply for European operations remains secure throughout the summer, despite geopolitical uncertainty linked to the ongoing conflict involving Iran. According to DHL Express Europe CEO Mike Parra, the company does not currently face any fuel-related risks......
Japanese automotive supplier Jtekt has agreed to transfer several of its European-facing operations, including a manufacturing site in Morocco, as part of a broader restructuring of its international business portfolio. The transaction forms part of a share transfer agreement with an investment entity......
Estée Lauder remains open to future acquisitions following the collapse of merger discussions with Spanish fashion and beauty group Puig, according to the company’s chief executive. The proposed deal, which would have created a major global player in the premium beauty industry, fell apart......
Morocco’s Deposit and Management Fund has appointed Mustapha Lahboubi as head of its Savings and Providence division, a central unit responsible for managing key national retirement and regulated savings schemes. The appointment took effect on June 1 and marks a leadership change within one of......
FedEx Freight, the less-than-truckload logistics division of FedEx Corp, is preparing to begin trading as an independent company on the New York Stock Exchange under the ticker symbol “FDXF”, following the completion of its long-planned corporate separation. The spinoff marks a major restructuring......
The United States Postal Service (USPS) has announced a multi-year agreement with DHL eCommerce to provide last-mile parcel delivery services across the United States, in a deal expected to exceed $10 billion in value. The partnership strengthens DHL’s presence in the American logistics market......
French energy giant TotalEnergies made significant crude oil purchases in the Middle East after its trading teams observed unusual military activity in the Gulf region earlier this year, according to the company’s chief executive. CEO Patrick Pouyanné stated in an interview that traders......
Global consultancy firm Alvarez & Marsal (A&M) has officially opened its first office in Africa, located in Cape Town, South Africa, marking a strategic move to strengthen its presence on a continent increasingly attracting international investment. The expansion comes at a time when global......
The Israeli web development company Wix.com has announced a major workforce reduction, cutting around 20% of its staff, which represents more than 1,000 employees worldwide. The decision comes as the company faces economic pressure linked to a strong Israeli shekel, which has affected its financial......
Toronto-Dominion Bank, one of Canada’s major financial institutions, reported a significant increase in its quarterly profit, driven mainly by stronger interest income supported by a stable domestic economy. The bank, officially known as Toronto-Dominion Bank, benefited from higher earnings in......
Shareholders of Exxon Mobil Corp have approved the company’s plan to relocate its legal headquarters to Texas, marking a significant victory for the energy giant amid ongoing debates over corporate governance and investor influence. The decision follows recommendations from major proxy advisory......
Bank of America expects its trading revenue to increase by about 15% in the second quarter compared with the same period last year, according to CEO Brian Moynihan. The projection reflects improved performance in global financial markets following a period of heightened volatility last year, when markets......
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