Economists attributed this positive performance to the biotechnological company’s cost-cutting drive and an uptake in sales of its newly-launched Alzheimer’s drug, LEQEMBI. Analysts predicted that the sales of this treatment would be between $13mn and $30mn. Biogen’s Q1 sales of LEQEMBI, as noted by its Japanese partner, Eisai Co., Ltd. (4523.T), were $19mn. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Salim Sayed, LinkedIn During trading on Wednesday, 24 April 2024, Biogen shares, at one stage, increased by an estimated 5%. This was as the market responded to the orga ..read more

Revenue was reported at $42.78bn, which exceeded the $40.04bn that had been anticipated. In terms of earnings per share, $0.49 was also better than the estimated figure of $0.42. Net income of $1.3bn has been reported, and adjusted EBIT of $2.8bn. The Ford Pro commercial fleets division provided one of the most impressive returns, with revenue increasing 36% from last year’s numbers. A high level of demand for the company’s Super Duty trucks and Transit vans is said to be among the key reasons for these improved results. Don’t miss out the latest news, subscribe to LeapRate’s newsletter ..read more

This is the weakest JPY/USD performance since the mid-1990s. All eyes are now on the Bank of Japan (BOJ) as the markets expect some intervention from this monetary policymaker to bolster the yen. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This currency’s weakness sparked market angst as the Japanese finance minister, Shunichi Suzuki, previously indicated that the government and policymakers would react as needed to JPY fluctuations. On 19 March 2024, Japan upped its interest rate for the first time in 17 years to strengthen the yen. However, this rise still places Japa ..read more

Elon Musk This comes after earlier price cuts in the US in the wake of tougher competition, especially since BYD, the Chinese EV maker, overtook Tesla as the foremost EV company globally. Earlier this month, the company’s Q1 financials reflected a drop in global vehicle deliveries – the first in approximately four years. Elon Musk, Tesla’s co-founder and CEO, took to his social media platform X and posted: Tesla prices must change frequently in order to match production with demand. According to Reuters, Tesla sparked an EV pricing war when it drastically cut prices more than a year ..read more

2023 saw Meta’s Reality Labs division lose $16bn, so CEO Mark Zuckerberg announced on Monday that it will be opening up the system so that other tech companies can make hardware using it. His announcement pointed out that Microsoft, ASUS and Lenovo are among the selected early partners that will be working with Meta on new headsets as it looks to take advantage of the growing market for virtual reality (VR) and the metaverse. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Zuckerberg has previously complained about depending on Apple and Google when distributing its mobile ..read more

The users reportedly claim the gay dating app shared personal information, which included HIV statuses, with third parties. Law firm Austen Hays indicated it filed the lawsuit at the London High Court, alleging this could affect thousands of UK users. According to this filing, Austen Hays claims Grindr gave sensitive personal information to third parties for marketing purposes. The company indicated to the Guardian that it plans to respond “vigorously to this claim” and that it misrepresents issues from over four years ago. Don’t miss out the latest news, subscribe to LeapRate’s newsletter C ..read more

This offer comes after Hipgnosis – a London-listed music rights investment firm – accepted Concord’s proposal. The latest Blackstone tender is the fourth augmented bid and was made on Saturday, 20 April 2024. It reportedly outstrips the Concord offer by about 7%. The latter proposed a takeover price of $1.16, which Blackstone countered with an offer of $1.24 per share in cash to obtain issued and to-be-issued shares. The company commented: Blackstone strongly encourages the Board of Hipgnosis to recognise the significant increase in value available to all shareholders under the terms of its ..read more

This disappointing day followed a weak revenue forecast and confirmation that it will stop reporting subscriber numbers next year. Despite this fall, Netflix is still up 14% so far this year following a strong start to 2024. Expectations for the streaming giant’s Q1 results had been climbing recently, as analysts predicted excellent gains. When the results were published, they revealed the company’s best start to any year since 2020. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The decision to stop reporting membership numbers and revenue per subscriber from Q1 2025 is a ..read more

According to a press release on Friday, 19 April 2024, the financial watchdog’s board claims that CIF transgressed numerous regulations in the Investment Services and Activities and Regulated Markets Law of 2017. The decision follows an investigation conducted in September 2022. A breakdown of this fine includes €80,000 for not having adequate policies and procedures in place to comply with authorisation conditions and €25,000 for not taking reasonable measures in marketing and distributing financial instruments. The largest portion of this sanction is €150,000 for not providing honest and fa ..read more

This was confirmed with the news that the company, which runs the world’s biggest crypto exchange, has received a licence to operate as a full virtual-asset services provider (VASP). The licence has been issued by Dubai’s Virtual Assets Regulatory Authority (VARA). The regulatory process goes through four stages in Dubai, with Binance entering the third stage almost a year ago with its acquisition of an Operational MVP licence. This licence has allowed it to offer crypto services to institutional investors as well as qualified individuals while it awaits its full licence. Don’t miss out the l ..read more