Operating losses were masked by $518 million in sales of regulatory credits and a $101 million gain on the sale of some 10% of the $1.5 billion in Bitcoin that it had bought for Treasury purposes.
Two of what in recent years have been the world’s gloomiest central banks set the tone overnight: both the Bank of Japan and the Swedish Riksbank raised their outlooks .
Even before the Megacaps report, Tuesday is peak earnings season, with updates coming in from all quarters of the economy.
Other companies due to report early include Amgen report after the close.
Sentiment in the sector was also helped by BP’s statement that it will resume stock buybacks in the third quarter, confident that it can generate free cash flow at crude prices above $45 a barrel.
Oil prices edged higher on Tuesday as OPEC+ was expected to stick to existing plans to boost oil output slightly from May 1, suggesting it does not see a lasting impact on demand from India’s coronavirus crisis.
to 492 billion yuan, Chan said.
The Series D funding round is structured as a $225 million investment, with another $300 million equity commitment from SoftBank available at Exscientia’s discretion.“Exscientia’s innovative use of AI to discover and design better quality drugs with greater efficiency has the potential to create important medicines faster than ever before,” SoftBank Investment Advisers’ Managing Partner Eric Chen said in the statement.The company says it has more than 20 projects in development, including two currently in clinical trials, and has partnered with firms including Bristol-Myers Squibb, Bayer AG, and Sanofi, as well as several biotech firms, Chief Financial Officer Ben Taylor said in an email.The investment is SoftBank’s latest in the U.K.
The company, which has development programs for conditions including hepatitis B, prostate cancer and non-small cell lung cancer, has raised $216 million to date from Gilead Sciences, Sequoia Capital China and Oxford Sciences Innovation among others.
Federal Reserve’s two-day meeting and the dovish monetary policy announcements from the Bank of Japan earlier today.
The bank’s hit from the collapse runs to $5.5 billion so far, prompting it to raise $2 billion from investors and cut the hedge fund unit at the center of the losses.The Archegos blowup fueled criticism of Credit Suisse’s risk management, as it came just weeks after the bank found itself at the center of the Greensill Capital scandal, when it was forced to suspend investment funds.Shareholders will vote on compensation and the election of new board members in an annual general meeting on Friday April 30.“Shareholders would be warranted to also attribute accountability to the board’s risk committee,” Glass Lewis wrote earlier this month, adding that a change in leadership of the risk committee is needed to regain shareholder trust after the recent financial and reputation damage.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
New York timeThe Nasdaq 100 fell 0.5%The Dow Jones Industrial Average fell 0.1%The MSCI Emerging Markets Index was little changedCurrenciesThe Bloomberg Dollar Spot Index rose 0.2%The euro was little changed at $1.2080The British pound was little changed at $1.3907The Japanese yen fell 0.6% to 108.71 per dollarBondsThe yield on 10-year Treasuries advanced five basis points to 1.61%Germany’s 10-year yield was little changed at -0.25%Britain’s 10-year yield advanced two basis points to 0.77%CommoditiesWest Texas Intermediate crude rose 1% to $63 a barrelGold futures fell 0.2% to $1,777 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Credit Suisse is raising capital, and has halted share buybacks, cut its dividend and revamped management after the Swiss lender lost at least $4.7 billion from the collapse of family office Archegos, and after the bank suspended funds linked to insolvent supply chain finance company Greensill.
EU antitrust regulators are set to charge iPhone maker Apple this week with blocking rivals on its App Store following a complaint by music streaming service Spotify, a person familiar with the matter said on Tuesday.