updated - August 11, 2020 Tuesday EDT
The Walt Disney Company has been losing millions of subscribers for its cable channels, according to a report from CNN Money. ESPN, its most popular channel, in particular, has lost seven million subscribers in just two years.
Freddie Mac said in a press release that their Primary Mortgage Market Survey show mortgage rates have slightly declined leading up to the Thanksgiving holiday. The rates, though, have yet to rise above four percent since July 23, 2015.
Amgen Inc. has announced in a press release the submission of a Biologics License Application to the U.S. Food and Drug Administration (FDA) for ABP 501, a biosimilar candidate to Humira, or adalimumab, an anti-TNF-α monoclonal antibody. The application is Amgen’s first Biologics License Application submitted using the 351 (k) biosimilar pathway.
PetroChina Co., a Chinese state-controlled oil company, is planning to sell its stake in Trans-Asia Gas Pipeline Co. for as much as 15.5 billion yuan or $2.4 billion, according to a report from Bloomberg. The sale is due to the biggest oil and gas producer in China seeking to meet its year-end profit targets and focus on exploration as energy prices continue to slump.
The Federal Trade Commission (FTC) has approved the NXP Semiconductor N.V.’s proposed acquisition of Freescale Semiconductor Ltd. for $11.8 billion, according to a press release issued by the FTC. The approval, though, comes with a condition that NXP will divest its radio frequency power assets.
Kevin Dumont, the owner of a water park in New Hampshire, has decided to leave the slide tower after 17 days of chaining himself to the tower, according to a report from ABC News. Dumont ended his quest due to failing health and the lack of a financial investor.
Shire Plc, a company that develops and delivers innovative medicines for patients with rare disease, is preparing to make a new takeover offer to Baxalta, Inc., a source with direct knowledge of the matter told Reuters. The acquisition, if successful, will create one of the world’s leading specialists in rare disease.
Jack Ma, the founder and chairman of Alibaba Group Holding Ltd., is in talks to acquire a stake at South China Morning Post (SCMP), a Hong Kong newspaper company, people familiar with the matter told Bloomberg. The move would make Ma the latest Internet tycoon to try and revive the traditional newspaper.
Pinnacle Foods Inc. has announced in a press release that it will be acquiring Boulder Brands, Inc. for approximately $710 million. The acquisition will expand Pinnacle’s presence in growing and complementary health and wellness categories.
Bill Ackman’s Pershing Square Capital Management, L.P. has disclosed that it increased its beneficial ownership of Valeant Pharmaceuticals International, Inc. to 9.9 percent shares outstanding. The transaction highlights the activist investor’s commitment to the drug maker despite its stock being battered.
Apple Inc. is planning to launch its new Apple Pay electronic-payment service in China by next year, people familiar with the discussions told The Wall Street Journal. Apple is hoping to launch the electronic-payment service before February 8, 2016, before China’s Spring Festival Holiday.