Italy may add another string to EU’s vaccine bow as new jab shows strong results July 12, 2021 Italy’s homemade Covid-19 vaccine has shown a strong immune response in its mid-stage trials, according to biotech firm ReiThera, which could potentially add another string to Europe’s vaccination bow. ReiThera said its vaccine candidate, called GRAd-COV2, showed no major side effects in intermediate phase two clinical trials – and that it is in talks with [...]
SoftBank gears up investments in second quarter, dishing out $13bn July 12, 2021 SoftBank’s Vision Fund II has pushed the pedal on its investments in recent weeks, dishing out $13bn in its second quarter, according to reports. The Japanese venture capital fund has injected cash into at least 50 companies, the Financial Times first reported, citing people brief on the data. Many of the companies eyed by SoftBank’s [...]
Credit Suisse chief compliance officer resigns as shake up continues in the aftermath of Greensill July 12, 2021 Credit Suisse’s chief compliance officer will depart the bank as it continues a shake up by its new chairman in the wake of a series of costly scandals. The banking giant announced that its Swiss chief compliance, Floriana Scarlato, would leave with immediate effect to explore opportunities elsewhere. Recently appointed chairman Antonio Horta-Osorio has vowed to [...]
Tech giants Foxconn, TSMC to buy 10m covid vaccines for Taiwan July 12, 2021 Two of the world’s largest tech firms Foxconn and TSMC inked an agreement worth £252m for buying 10m doses of Pfizer/BioNTech Covid-19 vaccine for Taiwan. The deal announced on Monday in a statement by BioNTech’s Chinese sales agent Shanghai Fosun Pharmaceutical Group. Under the agreement, Taiwanese firms Foxconn and Taiwan Semiconductor Manufacturing Co (TSMC) will [...]
SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Lightning strike in Jaipur kills eleven while taking selfies July 12, 2021 A lightning strike took the lives of 11 people and injured many more in Jaipur, Northern India, on Sunday. The victims were taking selfies on top of a watchtower in the popular 12 Century Amer Fort. 27 people were initially on the tower when the lightning struck, with some jumping to the ground as a [...]
Trustpilot revenues up almost a third as business accelerates post-pandemic July 12, 2021 Trustpilot Group reports jump in revenue in the first half of the year, as the consumer review website continues to experience a “re-acceleration” following the pandemic-related impact in 2020. The consumer review website saw its bookings surge by 37 per cent in the first half of 2021. The business, with a market capitalisation of £1.3bn, [...]
Asos enters deal with Nordstrom to bolster Topshop’s US presence July 12, 2021 Asos has teamed up with the US’ Nordstrom, which will see Topshop clothes sold in brick and mortar stores for the first time since the brand fell into admission last year. The joint-venture will see Nordstrom snag a minority stake in Topshop, Topman, Miss Selfridge and HIIT brands, which joined Asos’ pre-existing online platform following [...]
Startup funding in Europe on track for record year July 9, 2021 Europe is set to see its biggest year for startup investment, with US investors especially keen to back companies. Startups received three times more funding in the first half of this year compared to that of 2020, according to data from Dealroom reported by Politico. While Europe’s start up scene has lagged behind that of [...]
1MDB and Malaysia sue 44 KPMG partners for $5.6bn July 9, 2021 Malaysia govt, its Ministry of Finance and 1MDB are suing 44 KPMG Malaysia partners in a $5.64bn suit for their part in auditing the state investment fund. The lawsuit, which was filed earlier this week, accused KPMG of committing breaches of contract and negligence in its audit and certification of 1MDB’s financial statements for the [...]