WuXi Shares Fall as Washington Lobbying Group Cuts Ties

WuXi AppTec and its affiliates are taking another beating after the loss of support from the biotech industry's top lobbying group in Washington, as two bills targeting Chinese biotech companies wind their way through Congress. 


 
China Healthcare Stocks Rally on Hopes for Govt Support

Chinese pharmaceutical stocks rose sharply on hopes for government support, with analysts citing an alleged draft proposal on drug innovation widely circulated online and on social media. 


 
Foxconn Posts Profit Rise, Sees Better Year Ahead

The Apple supplier sees a better outlook for its business this year, it said after reporting a rise in fourth-quarter profit as margins improved despite a fall in revenue. 


 
Shell to Slow Pace of Carbon-Emission Cuts

Shell said it now targets a 15%-20% reduction by 2030 in the net carbon intensity of the energy products it sell, as CEO Wael Sawan focuses on last year's pledge to prioritize value. 


 
Rheinmetall Forecasts Another Year of Growth As Geopolitical Tensions Rise

Rheinmetall expects sales to continue growing this year as the Ukraine and Israel-Hamas wars show little sign of abating and governments ramp up spending on military hardware. 


 
Hapag-Lloyd Expects Sharp Earnings Drop

Hapag-Lloyd said it expected earnings to fall sharply this year as the current situation in the Red Sea complicates an already challenging economic and political environment. 


 
Altria Group Plans to Sell Part of Anheuser-Busch Stake

Altria Group plans to sell 18%, or over $2 billion worth, of its large stake in Anheuser-Busch InBev in a secondary offering as it looks to return more cash to shareholders. 


 
EV Startup Fisker Prepares for Possible Bankruptcy

The company has struggled with growing its sales amid stagnant demand for electric vehicles in the U.S. and last month issued a going-concern warning. 


 
Citi Names Veteran Exec as New China Head of Commercial Bank

Citigroup has named an executive who's been with the banking giant for over two decades to head up its commercial bank business in China, its latest personnel change as it undergoes a global restructuring. 


 
A Tale of Two Chip Plants: Delayed in U.S., On Time in Japan

The fate of two TSMC factories highlights different approaches in Tokyo and Washington toward high-tech investment.


(END) Dow Jones Newswires

03-14-24 0515ET