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Celltrion to supply COVID-19 antibody therapy to 9 European countries
South Korean biopharma company Celltrion has reportedly signed agreements with nine European countries to provide Regkirona (regdanvimab), a monoclonal antibody therapy for COVID-19. The European Commission in November granted the drug marketing authorization for adults infected with the virus wh... Read More
Amazon urges India antitrust body to revoke Reliance-Future deal
American tech giant Amazon.com Inc. has reportedly approached India’s antitrust regulator CCI (Competition Commission of India) seeking withdrawal of its approval for Future Retail Ltd.’s (FRL) USD 3.4 billion sales of retail assets to Reliance Industries Ltd. (RIL). The e-commerce gi... Read More
Tesla to commence production in Berlin factory from December: Report
Tesla Inc. is reportedly set to begin production at its factory in Berlin, Germany from next month. The EV giant will commence the manufacturing process with around 30,000 electric vehicles. It is to be noted that the company was expected to begin production in July this year, but the process was... Read More
EV charging network venture Ionity bags USD 788 million from BlackRock
BlackRock is the first non-automotive shareholder to invest in Ionity. The funding will help in increasing the number of charging points in Europe to over 7000 by 2025. BlackRock, a multinational investment manager, has recently joined electric vehicle (EV) charging network venture Ionity ... Read More
SaaS startup CoreStack raises USD 30 Mn in Series B to fund expansion
Cloud-based software-as-a-service provider CoreStack has reportedly raised USD 30 million in a Series B round, making it the latest cloud technology startup to receive significant funding in the Seattle area, home to giants like Amazon and Microsoft. The funding round was led by investment firm A... Read More
U.S. and other nations release oil reserves to challenge OPEC grip
U.S. President Joe Biden's administration will reportedly release millions of barrels of oil from strategic reserves with cooperation from Britain, South Korea, India, China, and Japan to reduce crude prices. The announcement comes after OPEC+ producers repeatedly disregarded calls for additiona... Read More
Disney World halts COVID-19 vaccination mandate for Florida employees
Disney World has reportedly put its COVID-19 vaccination mandate on hold for its employees in Florida after the governor and the State Legislature made it illegal for employers to require all staff to be inoculated. As per this new policy, the multinational entertainment corporation could have faced... Read More
Luxury fashion house Lanvin Group reveals its new brand identity
Lanvin Group, a global luxury fashion firm, announced the launch of its new brand identity, after its name change from Fosun Fashion Group. The adoption of the world-renowned Lanvin brand as its new name indicates the Group's intentions to develop a global portfolio of well-known luxury fashion ... Read More
Airwallex secures USD 100 Mn to augment its banking & payments platform
Airwallex, a banking and payments platform secured USD 100 million to expand its business into more markets across the world. The funding round was led by Lone Pine Capital and joined by Sequoia Capital China, and 1835i Ventures, which are all previous investors. This round is an extension of the... Read More
Walmart stock drops as supply chain, labor cost challenges hit margins
American multinational retail chain Walmart Inc.’s shares reportedly fell by 2.5% due to the negative impact of high labor and supply chain costs on its Q3 margins. Transportation bottlenecks, closed facilities in parts of Asia, and lack of raw materials in recent months have hindered major... Read More