billion

Indonesia says China’s CATL plans to invest $5 billion in lithium battery plant

JAKARTA (Reuters) – China’s Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday.



a tall building: FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde


© Reuters/CHINA STRINGER NETWORK
FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

The lithium battery plant will start production in 2024, deputy minister, Septian Hario Seto, told a virtual briefing.

Loading...

Load Error

“The target is that they (CATL) will invest around $5 billion… and the first production of batteries can be done in 2024,” Septian said.

He said CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60% of nickel be processed into batteries in Indonesia.

“We don’t want them to get our nickel but then process it abroad,” he said.

CATL did not immediately respond to

Read More

Blackstone’s $3.45 Billion Deal For Lab Space Shows Boom in Life Sciences

Text size


Munshi Ahmed/Bloomberg

The pandemic has sent shock waves through the commercial real estate market as malls, restaurants, and retail outlets struggle to survive, but spaces devoted to labs and life sciences are thriving.

Lab personnel continue to operate across the U.S., especially those helping to create vaccines and treatments to fight Covid-19. And investors are there to encourage them.

The

Blackstone Group

(ticker: BX), the commercial real estate and private equity giant, announced on Monday a $3.45 billion deal for a group of life sciences buildings in Cambridge, Mass.–a hotbed of lab activity.

The complex, which Blackstone is buying from

Brookfield Asset Management

(BAM), includes 2.3 million square feet of space near the Massachusetts Institute of Technology.

“This transaction illustrates Blackstone’s continued conviction in the life sciences space both broadly, and within real estate, investing in best-in-class assets located adjacent to top-tier research and education institutions,” Nadeem Meghji,

Read More

Global $26.99 Billion Pharmaceutical Processing and Packaging Equipment Market Outlook to 2027

DUBLIN, Dec. 14, 2020 /PRNewswire/ — The “Pharmaceutical Processing and Packaging Equipment – Global Market Outlook (2019-2027)” report has been added to ResearchAndMarkets.com’s offering.

The Global Pharmaceutical Processing and Packaging Equipment market accounted for $17.19 billion in 2019 and is expected to reach $26.99 billion by 2027 growing at a CAGR of 5.8% during the forecast period.

Some of the key factors propelling the growth of the market are growing geriatric population, technological advancement and increasing prevalence of chronic diseases. However, growing demand for refurbished products is the restraining factors for the growth of the market.

The equipment used for the processing and packaging of various pharmaceutical products is known as pharmaceutical processing and packaging equipment. It is of high importance as pharmaceutical products should be packaged carefully and efficiently so that physicians and patients can use it conveniently.

By mode of drug delivery, the oral formulations segment is

Read More

Huntington Bancshares to buy Detroit-based TCF National Bank in $6 billion stock deal

Huntington Bancshares of Columbus is buying the Detroit-based parent of TCF National Bank in all-stock, $6 billion deal that will extend Huntington’s footprint into new markets as far west as Colorado.



a large tower in a city: Huntington Bancshares of Columbus is acquiring TCF National Bank, based in Detroit.


© Dispatch file photo
Huntington Bancshares of Columbus is acquiring TCF National Bank, based in Detroit.

The acquisition announced Sunday night will be the biggest in Huntington’s 154-year-old history and nearly twice the size of Huntington’s last big acquisition, the $3.4 billion purchase of Akron-based FirstMerit in 2016.

With a market value of $13.1 billion, Huntington is more than twice the size of TCF, which had a market capitalization of $5.4 billion as of Friday. The deal calls for TCF Financial shareholders to get about three Huntington shares for each of their TCF shares, worth about $38.83 for each of their TCF shares, which closed at $34.78 on Friday.



a man wearing a suit and tie: Huntington Bancshares CEO and Chairman Steve Steinour


© Huntington Bancshares
Huntington Bancshares CEO and Chairman Steve

Read More

AstraZeneca Can Justify Its $39 Billion Splashout

The British pharmaceutical group has gained prominence this year for its partnership with Oxford University to test, manufacture and distribute a vaccine against Covid-19. But its commercial prospects rest on an enviable stable of oncology, cardiovascular and respiratory drugs. AstraZeneca’s pipeline gives it an unusually strong growth profile. Cash flow has been building and it’s on track to pay its dividend next year without having to borrow to do so – at long last.

Why potentially damage all that with a left-field acquisition? Alexion opens a new therapeutic channel for AstraZeneca when there’s no obvious need to do so. The risk is that the deal dilutes the growth story. AstraZeneca’s revenue is expected to be 33% higher in 2024 than in 2021, according to estimates compiled by Bloomberg. Alexion’s top line isn’t forecast to grow that fast.

AstraZeneca says that on its own modeling, Alexion’s sales outlook is better than

Read More

AstraZeneca to buy Boston biotech Alexion for $39 billion in rare-disease push

(Bloomberg) — AstraZeneca Plc agreed to buy Alexion Pharmaceuticals Inc. for $39 billion in cash and shares, adding a specialist in treatments for rare diseases and immunology to its portfolio of medications for cancer and other illnesses.

The offer values Alexion at $175 a share, a 45 percent premium to the closing price on Friday. It would be the largest deal for AstraZeneca since it was founded in a combination of British and Swedish drugmakers in 1999.

Acquiring Alexion would bolster AstraZeneca in areas such as the treatment of blood disorders, building on Chief Executive Officer Pascal Soriot’s turnaround. Since taking over in 2012 he has pushed the U.K. drugmaker further into lucrative areas such as oncology. AstraZeneca, along with the University of Oxford, has also developed a Covid-19 vaccine that’s shown effectiveness in large trials, despite questions around the study results.

The deal would give AstraZeneca another toehold in

Read More

Livestream shopping is a $125 billion market in China. Now, retailers like JCPenney are banking on it blowing up in the US.

JCPenney is hosting livestreamed shopping shows with influencers.
  • Livestream shopping, a $125 billion market in China, is beginning to take off in the US.
  • JCPenney recently launched JCP Live, a livestream shopping show, in time for the holiday shopping season. 
  • Other retailers are hopping on the trend, and tech companies have created platforms that make it easier for even small businesses to try. 
  • Visit Business Insider’s homepage for more stories.

During a recent JCP Live stream, the influencer who goes by Taryn Truly gestured toward a Sharper Image S’mores Maker.

“We’re starting off with my very favorite thing, because I’m keeping this for myself,” she said.

The kitchen gadget was on a special sale on JCPenney’s website that day, for $29.98, “which is a steal of a deal,” Taryn said.

With JCP Live, an initiative the department store launched at the beginning of the holiday shopping season, bloggers

Read More

Global Rugged Equipment Market Report 2020: Market is Poised to Grow by $5.73 Billion to 2024

Press release content from Business Wire. The AP news staff was not involved in its creation.

DUBLIN–(BUSINESS WIRE)–Dec 11, 2020–

The “Global Rugged Equipment Market 2020-2024” report has been added to ResearchAndMarkets.com’s offering.

Global Rugged Equipment Market 2020-2024

The rugged equipment market is poised to grow by $ 5.73 bn during 2020-2024 progressing at a CAGR of 3% during the forecast period.

The market is driven by the growth of industrial end-users and growing demand for rugged equipment due to regulatory standards.

This study identifies the growing demand for wireless communication devices as one of the prime reasons driving the rugged equipment market growth during the next few years.

The reports on rugged equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current

Read More

For companies like Facebook, a $5 billion fine is just another expense

  • Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the “Pitchfork Economics” podcast with Nick Hanauer and David Goldstein.
  • In this week’s episode of Pitchfork Economics, Goldstein spoke with antitrust lawyer and author Michelle Meagher on the difficulties of holding wealthy corporations accountable for breaking the law.
  • Corporations do not follow the same rules as the rest of us, Meagher says, and are rarely incentivized to follow the law because large fines for breaking it won’t necessarily hurt them.
  • While Facebook’s fine of $5 billion for user privacy violations seems like a massive amount, Meagher says it wasn’t a lot of money to the social media giant, and just something they considered the “cost of doing business.”
  • The point of a fine should be to make a person or company think twice before violating the law again. This
Read More

Britain’s Asda Paid Parent Walmart $1.52 Billion Dividend | Investing News

LONDON (Reuters) – Asda, the British supermarket being sold by Walmart, paid its parent a 1.15 billion pound ($1.52 billion) dividend from surplus cash in March, Asda’s annual report showed on Friday.

In October, the Issa brothers and private equity group TDR Capital agreed to buy a majority stake in Asda from Walmart in a deal giving the chain an enterprise value of $8.8 billion.

Asda, Britain’s third largest grocer after market leader Tesco and Sainsbury’s, said in its report and accounts published on Friday that the dividend payment was made in respect to its 2017, 2018 and 2019 financial years.

It said the payment, the first since 2017, was made after the completion of the 3.8 billion pound “buy in” of its pension scheme with Rothesay Life in October 2019.

Asda said its acquisition by the Issa brothers and TDR was on track to complete in the first half

Read More