ASIA

Summit Therapeutics in up to $5 bln licensing deal for Akeso’s cancer therapy

Dec 6 (Reuters) – Summit Therapeutics Inc (SMMT.O) said on Tuesday it would license China-based Akeso Inc’s (9926.HK) experimental cancer therapy in a deal worth up to $5 billion, sending its shares up 57% in premarket trade. The deal involves an upfront payment of $500 million to Akeso, which will also be eligible for regulatory …

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Australia sues Telstra for not informing customers of downgrade in internet speed

Dec 6 (Reuters) – Australian competition regulator on Tuesday took the country’s top telecom firm Telstra Corp (TLS.AX) to court for failing to inform some customers about downgrading the upload speed of its broadband plan. The Australian Competition & Consumer Commission (ACCC) initiated the lawsuit in the Federal Court, alleging it downgraded broadband upload speed …

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Indian billionaire Adani is now NDTV’s biggest shareholder | Business and Economy News

The news network’s takeover has raised fears that one of the country’s last bastions of free press is under threat. Indian billionaire Gautam Adani’s conglomerate has raised its stake in New Delhi Television Ltd (NDTV) to more than 37 percent through an open offer, making it the biggest shareholder of one of the country’s most …

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Asia shares bank on eventual China opening; oil earnings

https://tmsnrt.rs/2zpUAr4 China shares push higher, dollar slips More Chinese cities ease coronavirus controls Cap on Russia oil comes into effect, impact uncertain SYDNEY, Dec 5 (Reuters) – Asian shares extended their rally on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, …

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‘We are not your enemy’, say South Korean truckers striking for minimum wage protections

UIWANG, South Korea, Dec 5 (Reuters) – Inside five white tents outside the Uiwang container depot near Seoul, about 200 striking truckers huddle around gas heaters, trying to fight the bitter cold and the government narrative that they are well paid “labour aristocracy .” They are all too aware of the impact their strike has …

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Urals oil discount widens as freight rates for Russian oil jump – traders, Reuters calculations

MOSCOW, Dec 2 (Reuters) – Russian Urals oil’s discount to dated Brent have widened significantly, under pressure from record high freight rates for tankers carrying Russian oil and sending sellers’ revenues well below an agreed EU price cap, two traders said on Friday and Reuters calculations showed. EU governments on Friday agreed to a price …

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Roivant, Pfizer team up on inflammatory disease drug

Dec 1 (Reuters) – Biotech firm Roivant Sciences (ROIV.O) on Thursday launched a company with Pfizer Inc (PFE.N) focused on an experimental bowel disease treatment, as the drugmakers seek to tap into a multibillion dollar market. The drug, RVT-3101, was originally developed by Pfizer, which will hold a 25% stake in the new business, with …

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World Bank chief says poorest countries owe $62 bln on bilateral debt

WASHINGTON, Dec 1 (Reuters) – The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday, warning that the increased burden is increasing the risk of defaults. Malpass told the Reuters NEXT conference in …

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