Read the latest economy news, market trends, and financial analysis on Archyde. Stay informed with global economic updates and expert insights.
2024-01-06 11:30:08
1704567278
#EssenceIranian #warship #enters #Red #Sea #geopolitics #triggers #rally #container #stocks #return #inflation #earnings #report #key #indicator #Alipay #suffered #tragedy #Communist #mainland #tightened #financial #control #order #promote #digital #RMB #谢陈彦tvbsmoney #金林天下
2024-01-06 13:47:00
De Lijn launched the second and most important stage of the rollout of its basic accessibility plan on Saturday, concentrating buses on the most popular routes, between residential areas and other key areas. This new organization means that 3,200 bus stops will disappear, mainly in rural areas. This represents a total of 17% fewer stops than before the launch of the basic accessibility plan. Where there are few or no bus passages, users will be able to order – via the Hoppin app, the website or by telephone – flexible transport. This can be reserved 30 days to 30 minutes in advance. The budget allocated to “Flexbus” is twice as high (60 million euros) as that previously reserved for buses to order (30 million euros).
“A shame”: new controversy at De Lijn, the company orders… Chinese buses and raises eyebrows in Flanders
The new plan has been the subject of strong criticism from public transport user organizations and mobility experts. “This plan does not only come from De Lijn. It was discussed and approved with the cities and municipalities,” said Ann Schoubs during the presentation of the new offer on Saturday in Louvain. The company assures that it will now “monitor the situation” and that it will make “the necessary adjustments”.
Actions were taken on Saturday once morest De Lijn’s new transport plan in the capitals of the five Flemish provinces. In Leuven, around fifty people, including Groen co-president Nadia Naji and Vooruit MP Bruno Tobback, protested. Signs read: “There will be no Epiphany gifts this year because the three wise men are in the transport desert”.
”People whose usual stop is canceled and who have no alternative pay the costs. We do not understand why the cities and municipalities have approved this plan,” criticized Michel Van Oosterwyck, union secretary at ACV-CSC Transcom.
1704566241
#transport #plan #Lijn #bus #stops #disappear
2024-01-06 04:51:00
Crude Oil Weekly Review: Crude oil closed higher in the first week of the new year, with the situation in the Middle East dominating prices
Crude oil prices rebounded on Friday amid continued tensions in the Middle East. The international crude oil benchmark ended higher in the first week of the year, rebounding from losses triggered by a sharp build in U.S. gasoline and distillate stockpiles on Thursday.
WTI February crude oil futures closed up $1.62/barrel, or 2.24%, with a cumulative increase of more than 3.01% this week. Brent crude oil futures rose by $1.17 per barrel, or 1.51%.
(US crude oil and Brent crude oil continuous contract trend chart source: Yihuitong Finance)
【Market analysis】
The conflict between Israel and Hamas has escalated, and the situation in neighboring countries has become tense. U.S. Secretary of State Antony Blinken traveled to the Middle East to try to ease tensions. U.S. Treasury Secretary Yellen said Red Sea shipping has not had a material impact on energy prices.
PVM analyst Tamas Varga pointed out that risks posed by tensions in the Middle East are an important factor in the price rebound.
U.S. non-farm employment growth exceeded expectations in December, prompting financial markets to drop expectations of a March interest rate cut by the Federal Reserve. Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina, said the report reduced the likelihood of the Fed cutting interest rates in March. Views at Thursday’s Federal Reserve meeting that inflation was under control raised concerns regarding overly restrictive monetary policy.
Bank of America expects Brent crude oil to maintain a trading range between $70/barrel and $90/barrel. However, spare capacity might steepen the oil curve, putting pressure on industry values. Bank of America also predicts that Brent crude oil price will be US$80/barrel in 2024, but may fall to US$70/barrel in the long term.
John Kilduff, a partner at Again Capital LLC, said geopolitical tensions were driving up trading premiums and strong jobs data also pointed to strong fuel demand.
Logistics and shipping companies are diverting cargo ships to avoid waters infested by Yemen’s Houthi rebels, causing Europe-Asia routes to shift around the African continent. Oilfield services company Baker Hughes said the number of active rigs fell, while the number of crude oil rigs increased and the number of natural gas rigs decreased.
The Biden administration is replenishing the Strategic Petroleum Reserve (SPR) as surging U.S. gasoline and distillate inventories raise concerns regarding demand stability.
Editor: Talen, Qingyue
1704565635
#Crude #Oil #Weekly #Review #Crude #oil #closed #higher #week #year #situation #Middle #East #dominating #price #provider #FX678
2024-01-06 17:55:57
© Archyde.com. FILE PHOTO: An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo
2/2
(This Jan. 5 story has been corrected to fix a syntax error in paragraph 2)
By David Carnevali
NEW YORK (Archyde.com) – Healthcare dealmakers are making their way to San Francisco for a major industry conference, optimistic that more deals are in the offing following a wave of biotech company takeovers at the end of last year.
The four-day JPMorgan Healthcare Conference beginning on Monday is expected by organizers to attract over 8,000 people, including delegations from the world’s largest drugmakers, a signal of a return to business as usual following fewer participants were invited last year over COVID-19 concerns.
Last month alone, drugmakers including AbbVie (NYSE:), Bristol Myers (NYSE:) Squibb and AstraZeneca (NASDAQ:) announced roughly $25 billion worth of U.S.-listed biotech deals, according to data provider LSEG Deals Intelligence.
Overall, global M&A activity in the healthcare sector grew 8% on an annual basis to $365 billion in 2023, lagging the previous five-year average spending of $432 billion, LSEG calculated.
“We’ve had an uptick of M&A recently, we’re seeing stocks rebound with the market recovery and interest rates lowering,” said JPMorgan global head of healthcare investment banking Mike Gaito, who will interview CEO Jamie Dimon on the opening day. “People are open for business.”
Among the hottest topics will be the wildly popular weight-loss drugs revolutionizing the fight once morest obesity that have established Eli Lilly (NYSE:) and Novo Nordisk (NYSE:) as two of the world’s most valuable companies.
Analysts forecast current drugs and other obesity treatments in development might garner $100 billion a year by the end of the decade.
Gaito said other companies are feeling the pressure to get into the space, and those that are want to be able to offer other treatment options.
Two deals epitomizing this in 2023 were Roche’s $2.7 billion acquisition of Carmot Therapeutics and Eli Lilly’s takeover of Versanis Bio for up to $1.93 billion, which strengthened the Mounjaro maker’s pipeline of obesity drugs.
Other themes will range from regulation and antitrust to the financing environment and possible effects of the 2024 U.S. presidential election on the industry, participants said.
WALL STREET RALLY
The conference comes following a blistering Wall Street rally in recent weeks, propelled by expectations the Federal Reserve will cut interest rates this year.
Biotech companies were among the beneficiaries. The SPDR S&P Biotech (NYSE:) ETF, a gauge of biotech industry performance, was up more than 18% in December.
The benchmark U.S. 10-year Treasury note dropped by nearly 50 points last month, easing financing costs for acquirers.
“We expect the macro environment, including how people are thinking regarding sector growth, interest rates and the labor dynamic, to be top of mind (at the conference),” said Ali Satvat, a partner at private equity firm KKR.
The buying spree by drugmakers late last year was part of their strategy to help offset expected revenue declines as patents on blockbuster therapies expire. AbbVie, already facing biosimilar competition for its cash cow Humira, and Bristol Myers collectively spent roughly $35 billion in deals to bolster their neurology and oncology franchises.
The annual conference at the Westin St. Francis Hotel in San Francisco will include smaller drugmakers and companies from all corners of the healthcare industry, such as health insurers and medical device firms.
Investors will meet companies in public and private settings.
“It’s an opportunity to actually sit in a small group, with investors but also with some corporate people, and meet with the managements to ask questions directly and really gather a lot of competitive intelligence,” said investment firm Perceptive Advisors managing director Doug Giordano.
After a slow 2023, private equity firms will be looking for investment opportunities for a record level of $2.59 trillion of unspent cash. They’ll also be searching for buyers.
“There is a very significant backlog of private equity-owned companies that will come out for sale in 2024,” said Devin O’Reilly, a partner at buyout firm Bain Capital.
Dealmakers from JPMorgan’s rival investment banks and law firms also will be in town to win new business from the over 400 healthcare companies expected to attend.
Competitors set up their own headquarters in hotels near the conference and lure clients by offering better catering and amenities.
Latham & Watkins M&A partner Charles Ruck said you might have fun ranking “who has got better food at their mini conferences around and compare it to the JPMorgan.”
1704565324
#Late #bonanza #stokes #healthcare #dealmakers #ahead #JPMorgan #conference #Archyde.com
Hosted by ByoHosting - Most Recommendeed Webhhosting. For complains, abuse, advertising contact:
[email protected]