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08.22 -
plans to acquire
Provention Bio focuses, among other things, on the prevention of immune-mediated diseases, including type 1 diabetes. With the acquisition,Sanofi aims to diversify its portfolio.- Provention has a drug already approved in the US aimed at slowing stage 3 type 1 diabetes in adults, among others.
08.16 - Bitcoin shoots sharply higher after news of government intervention SVB
Bitcoin, the largest crypto currency on the market, is trading about 9 percent in the plus compared to 24 hours earlier after the
- Other crypto currencies are also gaining ground. Ethereum is also gaining 9 percent. Cardano even pops 12 percent higher.
07.51 -
The
07.33 - "SVB bankruptcy not a canary in the coal mine"
- The analysts point out that SVB is a highly specialized bank that funds startups in
Silicon Valley . "It seems to be an isolated issue," the brokerage house said of SVB's problems. "This bank has a particular business model, asset mix and funding structure." - On the other hand, Jefferies does not want to call SVB's demise a "storm in a teacup," either. Indeed, it shows that there are substantial unrealized losses in the portfolios of hold-to-maturity bonds held by investors and banks.
- However, European banks' exposure to such bonds is limited, according to Jefferies. At the largest European banks, analysts estimate that exposure at about 5 percent. At SVB, that percentage was 43 percent, according to Jefferies. "That's big," Jefferies said.
07.16 -
Good morning,
Due to the
- The S&P 500 fell 1.5 percent.
-
The
Dow Jones index lost 1.1 percent. - And the Nasdaq closed 1.8 percent lower.
- On a weekly basis, the three major indexes lost about 4 to 5 percent, making it the worst week of 2023 so far.
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