The News Airtel Money is betting on digital payments and financial services to drive revenue growth across Africa, the fintech company’s CEO told Semafor ahead of what looks set to be London’s largest initial public offering in recent years. The mobile money arm of telecoms group Airtel Africa, which last ...
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Pharma giant Novo licenses Chinese weight-loss drugPharma giant Novo licenses Chinese weight-loss drug
Danish pharma giant Novo licensed a weight-loss treatment developed by a Chinese firm, highlighting advances in China’s increasingly cutting-edge biotech sector. The firm behind the treatment, Hengrui Pharma, last year reached an even bigger agreement with GSK for the development of new drugs across multiple areas, including cancer; Novo has ...
Decline in tourism hits US economyDecline in tourism hits US economy
Overseas visitors to the US are on track to drop by almost two million year-on-year, with even the FIFA Men’s World Cup failing to arrest the decline in tourism. The slide is hurting the US economy, and as Axios put it, is partly “self-inflicted:” There has been a significant drop ...
White House taps Strategic Petroleum ReserveWhite House taps Strategic Petroleum Reserve
The White House announced plans to tap the Strategic Petroleum Reserve — a step meant to blunt rising gas prices looming over the midterm elections. The US will offer to loan energy producers up to 40 million barrels of oil, which is what remains of the 172 million-barrel commitment the ...
Brussels trains ‘trade bazooka’ at BeijingBrussels trains ‘trade bazooka’ at Beijing
The EU is threatening to aim its “trade bazooka” at China, as the two giant economies fall out over Brussels’ allegation that Beijing abused commercial ties. European countries have hardened their stance against Chinese imports over fears that an influx of goods like solar panels and EVs could hollow out ...
Washington eyes sanctions trade-offs with Russia: ReportWashington eyes sanctions trade-offs with Russia: Report
The US could offer Russia sanctions relief in exchange for the release of political prisoners, The Atlantic reported, potentially clearing a path for expanded economic ties between Washington and Moscow. US envoy John Coale has tested this style of quid pro quo arrangement — which is envisioned to involve lucrative ...
US consumer sentiment hits lowest level in more than a decadeUS consumer sentiment hits lowest level in more than a decade
US consumer sentiment fell to its lowest level since 2014, new data showed, as unexpectedly weak jobs figures and elevated energy prices rekindled Republicans’ midterm fears. The White House has tried to staunch economic bleeding ahead of November through bond buybacks, promises of $5,000 checks, and — amid record fuel ...
Anthropic’s IPO prospectus details steep losses, existential risksAnthropic’s IPO prospectus details steep losses, existential risks
Anthropic’s pitch to investors: We’re losing gobs of money, we might kill everyone, buy our stock anyway. Reuters’ peek at the company’s IPO prospectus includes warnings not far off from Semafor’s imaginary list of risk factors, and it details the company’s plans to spend hundreds of billions of dollars more ...
Trump to stop in Alaska, other Senate battlegrounds ahead of midtermsTrump to stop in Alaska, other Senate battlegrounds ahead of midterms
The News President Donald Trump plans to travel the battleground map to stump for Senate Republicans — where he’s wanted — in the homestretch of the election. White House chief of staff Susie Wiles delivered that message to a group of Republican senators on Monday evening, according to multiple people ...
Oura delays IPO citing ‘uncertainty’Oura delays IPO citing ‘uncertainty’
Oura delayed its $2 billion IPO citing market “uncertainty,” a term usually reserved for pandemics, wars, and tariff shocks, not when the Nasdaq is hitting record highs. Indications that the smart ring’s shares were likely to price at the low end of the $40-to-$44 range delayed the plans, a person ...