Author: Arabian Media staff
Every year, thousands of patients sit in doctors’ offices with needles in their arms receiving a dose of a wonder drug called Keytruda. The cancer medicine is one of the world’s best sellers, earning Merck $29.5bn in sales last year. But drip by drip, the US pharmaceutical company’s time is running out. In 2028 Keytruda’s patent ends, allowing rivals to sell the same drug at a cheaper price. Investors are spooked and Merck’s shares have sunk 35 per cent over the past 12 months. While the company has been at pains to show it is prepared, Daina Graybosch, an analyst…
Stay informed with free updatesSimply sign up to the Currencies myFT Digest — delivered directly to your inbox.Europe is getting a little taster of a high-class problem: the downsides that come with operating a world-beating reserve currency.For now, the continent is not quite in this luxury spot. The euro accounts for a far smaller slice of the stashes of cash maintained by central banks and similar entities around the world than the dollar, and its prevalence in global trade is puny in comparison. Still, policymakers clearly have their eyes on the prize of a beefed-up role for the euro, and it…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.EU negotiators are closing in on a trade deal with Donald Trump that would cement higher tariffs than those granted to the UK, a Brexit dividend that has rattled some European capitals.Brussels is ready to sign a temporary “framework” agreement that sets the US president’s “reciprocal” tariffs at 10 per cent while talks continue, matching the baseline duty imposed on the UK. But the EU is not expecting to achieve the same access to the US market as British steel, cars and…
Stay informed with free updatesSimply sign up to the Automobiles myFT Digest — delivered directly to your inbox.Renault will name an interim chief executive next week as it continues to search for a replacement for Luca de Meo, who is to leave the carmaker to head luxury group Kering.The company has narrowed its shortlist of CEO candidates to Dacia boss Denis Le Vot, head of procurement, partnerships and public affairs François Provost, and ex-Stellantis executive Maxime Picat, people familiar with the matter said. They added the group faced a tight timeline to appoint a permanent chief by July 15, when…
Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.China’s factory gate price deflation deepened in June as US President Donald Trump’s trade war weighed on the world’s largest manufacturer, worsening a glut in industrial goods. Consumer prices edged higher for the first time since January, official data showed on Wednesday, as Beijing seeks to stimulate domestic consumption to counter oversupply and overcome a prolonged property sector slump. Producer price inflation fell 3.6 per cent year on year in June, worse than a 3.2 per cent drop forecast in a Reuters…
Stay informed with free updatesSimply sign up to the Renewable energy myFT Digest — delivered directly to your inbox.Almost three-quarters of all solar and wind power projects being built globally are in China, says a new report that highlights the country’s rapid expansion of renewable energy sources.China is building 510 gigawatts of utility-scale solar and wind projects, according to data from the Global Energy Monitor, a non-governmental organisation based in San Francisco.That compares to about 689GW under construction globally, GEM said. A rough rule of thumb is that a gigawatt can potentially supply electricity for about one million homes.“China is…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s latest act of trade brinkmanship risks creating a “tariff wall” around the manufacturing hubs of south-east Asia, leading to higher prices and tough choices for US consumers and industry, analysts warn.Ahead of Wednesday’s deadline to cut trade deals with Washington, the US president signalled a fresh round of tariffs on the south-east Asian countries that have become a conduit for Chinese manufacturers looking to escape US levies.He threatened Cambodia, Indonesia, Laos, Malaysia and Thailand with duties ranging from…
Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Elon Musk’s artificial intelligence chatbot repeatedly praised Adolf Hitler and shared antisemitic rhetoric on Tuesday, the day before his xAI company plans to release its latest model.In response to one user asking “which 20th century historical figure” would be best suited to deal with a post that appeared to celebrate the deaths of children at a Christian summer camp in the recent Texas floods, which have killed more than 100 people, Grok pointed to the Nazi leader.“To deal with such vile anti-white…
Stay informed with free updatesSimply sign up to the Automobiles myFT Digest — delivered directly to your inbox.You are driving down the highway when, without warning, traffic comes to a sudden stop as you enter a tunnel. You reach for your hazard lights, but they are not where you expect. Instead of a button, they are buried in a menu on your car’s touchscreen. You tap the screen, but it freezes. Now what?Since the mid-2010s, many automakers have embraced a buttonless future, inspired by smartphones and Tesla’s minimalist designs. Even safety functions such as hazard lights, windshield wipers and defrosters…
The lack of full metrics make it difficult to assess any claims of service enhancements, analysts said Source link