Biotech is commanding attention from dealmakers and investors. Pharma companies have acquired 37 biotech firms worth at least $1 billion this year, more than all of 2025, as they race to bolster pipelines before several blockbuster drugs lose their patent protections in the coming years. The Trump administration’s light-touch regulatory ...
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US could sanction top Chinese AI modelsUS could sanction top Chinese AI models
The US will scrutinize top Chinese AI models for signs they ripped off American competitors — as Beijing eyes restrictions on overseas access to those same systems. Washington has accused Chinese tech firms of what it calls intellectual property theft through a process called distillation, in which one AI is ...
Modi critics seize on Cockroach ralliesModi critics seize on Cockroach rallies
Indian police briefly detained the country’s top opposition leader and his sister during a protest on Tuesday, as a fresh wave of public outrage puts pressure on Prime Minister Narendra Modi’s government. Rahul Gandhi was criticizing the authorities’ use of tear gas and batons on Monday against thousands of protesters ...
BlackRock’s M&A spree comes into clear viewBlackRock’s M&A spree comes into clear view
BlackRock’s $25 billion M&A spree is starting to click. The company is raising $12 billion of debt for a Texas data center to be occupied by Meta — its first deal that puts infrastructure investor GIP and private-credit firm HPS to work in a major way since BlackRock bought them ...
Chinese startup founded by AI pioneer eyes potential IPOChinese startup founded by AI pioneer eyes potential IPO
O1.ai, the Chinese AI startup founded by AI pioneer Kai-Fu Lee, is aiming to raise funds ahead of a potential 2027 IPO, joining other AI labs that have gone public or plan to. Unlike China’s other “AI Tigers,” including Zhipu, DeepSeek, and Moonshot, O1.ai has pivoted from building frontier models ...
Chinese magnet shipments to US fall despite trade truceChinese magnet shipments to US fall despite trade truce
China’s US-bound shipments of rare-earth magnets so far this year are 20% below average levels seen between 2022 and 2024, customs data showed, despite the countries’ trade truce. As part of last year’s agreement with Washington, Beijing committed to a one-year pause in implementing sweeping export restrictions over the critical ...
Burnham faces Britain’s overseas business woesBurnham faces Britain’s overseas business woes
The UK’s new Prime Minister, Andy Burnham, wants to make British business great again. But businesses want to be where their customers and investors are, and with the UK’s wan economic growth and thinner capital markets, that’s increasingly elsewhere. Many of Britain’s corporate crown jewels make more of their money ...
Banks pay backhanded compliments to private creditBanks pay backhanded compliments to private credit
Liz’s view The narrative about private credit is familiar by now — it’s a garbage heap of bad loans, waiting to ignite. A tiny corrective comes from a strange place: the industry’s biggest competitors. Big banks have been busy refinancing loans made by private-credit firms. By putting their own balance ...
Geopolitics shape Dems’ energy platformGeopolitics shape Dems’ energy platform
Tim’s view The two biggest themes in global geopolitics — the rollout of AI and the fallout from the Iran war — look set to benefit Democrats, and potentially reshape the US political landscape in a matter of months. Between the steady march of average US gasoline prices back above ...
Renewed US-Iran strikes stoke global inflation fearsRenewed US-Iran strikes stoke global inflation fears
Surging tensions across the Middle East strangled shipping traffic, driving energy prices higher and raising the specter of accelerating inflation worldwide. A 10th day of aerial attacks between the US and Iran meant just 53 ships crossed the Strait of Hormuz in the week to July 20, a 66% drop ...