Global biopharma company GSK is investing up to $800 million in Pennsylvania and expanding its facility in Lancaster County. As part of its largest U.S. manufacturing investment, GSK is increasing its research and development and manufacturing footprint, Gov. Josh Shapiro and GSK leadership announced Thursday. Pennsylvania is supporting the expansion with a $21 million investment, the largest commonwealth-supported economic development project in Lancaster County history. The investment is expected to create at least 200 new, high-paying jobs. “Pennsylvania is a leader in life sciences – and GSK’s decision to make its largest single investment ever in manufacturing in the United States right here in…
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What you need to knowBitcoin has enjoyed something of a rally over the past year, reaching a new all-time high of $73,000 back in the spring, making it the best-performing asset of its type for 2024.Improved guidelines at a state level has driven increased confidence in the cryptocurrency, which has even Microsoft seemingly interested in jumping on the crypto train.On December 10, 2024, Microsoft plans to let shareholders vote on whether or not to invest in the currency.Bitcoin has had a pretty good year so far, so good in fact that Microsoft itself is now considering investing in the cryptocurrency.For…
Carbon markets are essentially “about countries collaborating with each other to unlock emissions reduction opportunities that would not have occurred otherwise,” said Benedict Chia, director-general of climate change at the republic’s National Climate Change Secretariat (NCCS) on Thursday.He was speaking on a panel at Asia Carbon Summit, under the city-state’s flagship energy event Singapore International Energy Week.“If a country doesn’t have a good understanding of how much it’s emitting to a level of certainty, then the foundation on which you’re building this collaboration is going to be flimsy,” said Chia. “The other important aspect is the country needs to have a…
By Summer Zhen HONG KONG (Reuters) – Global hedge funds dumped China and broader emerging markets shares while buying U.S. equities in a sharp rotation in October ahead of the U.S. election, Goldman Sachs said. China, where stock markets surged 20% last month boosted by a raft of stimulus policies, has now seen heavy outflows this month, according to Goldman’s prime brokerage team. China no longer publishes timely data on foreign flows into the mainland market. Goldman Sachs estimates that hedge funds have clawed back nearly 80% of the peak cumulative buying in Chinese equities as of Oct.23, the prime…
Coursera Inc (NYSE:) shares tumbled 15% in after-hours trading Wednesday as the online education platform’s fourth-quarter revenue guidance fell short of analyst expectations, overshadowing better-than-expected third-quarter results. The company reported third-quarter adjusted earnings per share of $0.10, surpassing the analyst estimate of $0.02. Revenue for the quarter came in at $176.1 million, up 6% YoY and above the consensus estimate of $173.98 million. Coursera’s fourth-quarter revenue forecast of $174-178 million fell significantly below the analyst consensus of $186.6 million, sparking concerns about slowing growth. “Our strong bottom-line performance continues to demonstrate our commitment to driving sustainable growth while expanding profitability,…
The company said the project will add 200,000 square feet to its Chennai facility, doubling its current manufacturing footprint at the site. Chennai is a coastal city in the southeastern part of India. Source link
A look at the day ahead in European and global markets from Kevin Buckland Yields are mercifully lower as the week draws to a close, removing some of the angst that has weighed on equities and allowing the beaten-down yen and euro to regain some composure against the dollar. But this relative calm feels like the eye of the storm as risk events swirl on the horizon next week: mega-cap earnings from five of the “Magnificent 7”; a highly consequential U.S. payrolls report on Friday; and the final lap going into a likely photo-finish U.S. presidential election on Nov. 5.…
JIUJIANG, CHINA – JUNE 17: A worker manufactures seamless steel gas cylinders for export at the workshop of Sinoma Science & Technology (Jiujiang) Co., Ltd. on June 17, 2024 in Jiujiang, Jiangxi Province of China. Wei Dongsheng | Visual China Group | Getty ImagesChina’s steel exports will soon hit an eight-year high, before sweeping tariffs sink in and drag down the industry in 2025, industry watchers said.As the biggest exporter of steel, China accounts for about 55% of the world’s steel production. The country’s steel exports have been surging this year and are expected to smash through the 100 million metric ton…
Microsoft shareholders are set to vote on a proposal to assess Bitcoin (BTC) as a potential corporate investment at the tech giant’s upcoming annual meeting at the end of the year, according to an Oct. 24 regulatory filing.The proposal, filed by a shareholder advisory board, calls for a detailed evaluation of the flagship crypto’s potential role within Microsoft’s treasury operations.However, the board of directors has recommended against the move, stating that its treasury already assesses a variety of assets, including cryptocurrencies like Bitcoin. The board emphasized Bitcoin’s volatility and argued that the company’s current processes ensure financial stability without the need…
Investing.com– Retail investors grew less optimistic over the short-term outlook for stock markets, an American Association of Individual Investors survey showed on Thursday, with neutral and pessimistic sentiments increasing. The AAII Sentiment Survey showed bullish sentiment- specifically that stock prices will rise in the next six months- among individual investors fell to 37.7% of respondents from 45.4% in the prior survey. Neutral sentiment- that stock prices will remain unchanged- rose slightly to 32.4%, while bearish sentiment- that stock prices will fall- rose by 4.5 percentage points to 29.9%. The spread of bulls to bears fell sharply to 7.8% in this…