Business & FinanceDeals
Reuters exclusively reported[1] that Activist investor Elliott Investment Management has built a stake in BioMarin Pharmaceutical (BMRN.O) and has been in discussions with the biotechnology company for months about its future. The
EconomyGovernment
Reuters exclusively reported[1] China’s attempts to keep the yuan from falling contributed to last week’s chaos in money markets, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major
Deals
Reuters was first to report[1] China’s largest single-day soybean purchase this year, as logistical troubles in Brazil make U.S. soybeans more attractive to the world’s largest importer of the valuable cash crop. The report, citing traders, that Chinese importers bought around 10 cargoes of soybeans, or about 600,000 metric tons, for shipment from U.S. Gulf Coast and Pacific Northwest export terminals sent soybean future prices higher in overnight trading on Tuesday.
The sales would be a relief to U.S. farmers, who have seen Brazil dominate the global export market for soy as well as corn for longer than normal this year. If confirmed, Tuesday’s sales would be the largest single-day soybean purchases by the world’s top soy importer since late July, according to U.S. Department of Agriculture (USDA) daily sales data. High U.S. prices due to barge shipping disruptions and stiff export market competition from Brazil, which harvested a record soy crop this year, have hampered U.S. sales in the season so far. Confirmed sales to China as of late October were down 35% from a year ago, and sales to all destinations were down 28%. The USDA is currently projecting a 12% year-on-year export decline.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Food & Beverage
Regions: AmericasAsia
Countries: ChinaUS
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
DealsGovernmentHealth
Reuters was first to report[1] that U.S. health insurer Cigna Group (CI.N) is exploring the sale of its Medicare Advantage business, which manages government health insurance for people aged 65 and older, a move that would mark a
Technology
Reuters exclusively reported[1] that social media researchers have canceled, suspended or changed more than 100 studies about X, formerly Twitter, as a result of actions taken by Elon Musk that limit access to the social media platform, nearly a
EconomyTechnology
Reuters was first to report[1] that FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace.
Alameda used the money to pay its lenders and to make loans to Bankman-Fried and other executives – who in turn made speculative venture investments and donated upwards of $100 million to U.S. political campaigns in a bid to promote cryptocurrency legislation the defendant viewed as favorable to his business, according to prosecutors.
Article Tags
Topics of Interest: EconomyTechnology
Type: Reuters Best
Sectors: Economy & PolicyTechnology
Regions: Americas
Countries: US
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Deals
Reuters was first to report[1] that US amusement park operators Cedar Fair and Six Flags are in merger talks. A tie-up would help the companies weather a potential economic slowdown. Shares of Cedar Fair and Six Flags rose as much as 9% and 17%.
A tie-up between the two companies would come as concerns about a U.S. economic slowdown and consumers curbing their discretionary spending have weighed on their stock performance. Merging would allow them to weather a slowdown from a stronger position.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & Finance
Regions: Americas
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story