Category: Semafor

After losing out to Pfizer on the $10 billion bidding war for weight-loss drug startup Metsera, Novo Nordisk’s CFO says the company is hunting for even bigger deals. “There are a lot of frogs to be kissed before we find the prince or the princess,” Karsten Munk Knudsen told Semafor. ...

Abu Dhabi’s state-backed chemicals platform is considering a $10 billion investment to significantly expand output at Ruwais Industrial City — one of the first big moves made since the government launched a campaign to expand domestic production of critical goods in late April. The expansion also aligns with a strategy ...

Dubai-based airline Emirates posted record annual profits for the third consecutive year, allowing it to hold on to its claim of being the world’s most profitable carrier despite the Iran war effectively shutting down its home airport at the end of the reporting period. The airline had a pre-tax profit ...

The Trump administration plans to invite CEOs from Nvidia, Apple, Exxon, Boeing, and other big companies to accompany the president on his trip to China next week, a person familiar with the matter said. The list also includes executives from Qualcomm, Blackstone, Citigroup, and Visa, and is likely to grow ...

Liz’s view Federal prosecutors’ indictment of 30 white-shoe lawyers and their associates, alleging more than a decade of insider trading on corporate mergers, is both juicy and quaint. Savor it. The next big insider-trading case will look nothing like this one. The case unveiled yesterday in Boston federal court alleges ...

The price of crude oil fell on signs of progress in US-Iran peace talks, but US gasoline prices continued to rise, with President Donald Trump running out of moves to lower them. If negotiators do manage to agree on the one-page memo that is reportedly under discussion, it could still ...

The Trump administration’s financial interventions in support of rare earths mining companies are working to drive more capital into the sector, the CEO of the latest such company to go public told Semafor. Rare Earth Americas listed on the New York Stock Exchange on Wednesday, the first rare earths mining ...

Without the cooling effect of trees, the urban heat island effect across the world’s cities would be twice as hot, a new study by The Nature Conservancy found. Trees in major cities worldwide mitigate nearly half of the heat effect generated by man-made surfaces such as roads, buildings, and car ...

Airline officials warned that fares will surge further if the Iran war does not end soon. The closure of the Strait of Hormuz has hit oil supplies, doubling the cost of jet fuel. US domestic flight prices were up 21% year-on-year in March, while AirAsia’s chief likened the fallout for ...

Tim’s view So far, the main direct threat that average Americans seem to have faced from the Iran War has been higher gasoline prices. But more could be at risk. On Monday, as US President Donald Trump launched a short-lived naval operation to escort ships through the Strait of Hormuz, ...