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Sanofi Reports 3.2% Profit Increase in Q2, Driven by Strong Dupixent Sales

Due partly to the medicine Dupixents successful sales and the new products betterthanexpected performance, Sanofi announced a 3.2% rise in secondquart

Due partly to the medicine Dupixents successful sales and the new products betterthanexpected performance, Sanofi announced a 3.2% rise in secondquarter profit. Operating income above analyst projections of 2.08 billion euros, reaching 2.81 billion euros $3.05 billion after subtracting onetime items. After initially predicting a drop, Sanofi now projects a flat fullyear profit. Sales of Dupixent unexpectedly exceeded projections of 3.18 billion euros, rising 29.2% to 3.30 billion euros. Sanofis recent medicine launches—Altuviiio for haemophilia, Beyfortus for respiratory infections, and Tzield for type 1 diabetes—are appointed despite worries over an overreliance on Dupixent. Additionally exceeding projections were sales of Beyfortus and Altuviiio, indicating a favourable response from the market. Read More..

B2B Tech News | 1 days ago        

USIndia Strategic Partnership Forum Lauds Indias Union Budget 2024 for Job Creation Focus

The USIndia Strategic Partnership Forums president and chief executive officer, Mukesh Aghi, commended Indias Union Budget 2024 for its thoughtful str

The USIndia Strategic Partnership Forums president and chief executive officer, Mukesh Aghi, commended Indias Union Budget 2024 for its thoughtful strategy and emphasis on job development. The budget strongly emphasises improving worker skills, especially for those making their first salary, and seeks to lower the deficit from 5.3% to 4.9%. While 51% of graduates are now prepared for the workforce, compared to 34% a decade ago, Aghi pointed out that more funding is still required. To increase FDI, the budget also contains a tax decrease for foreign businesses to raise yearly FDI from USD 70 billion to USD 110 billion. Finance Minister Nirmala Sitharaman has prioritised employment, skill development, and agriculture in her seventh consecutive budget to boost economic growth and productivity. Read More..

B2B Tech News | 1 days ago        

Honda to Close Chinese Factory, Halts Production at Another Amid EV Shift

Amidst intense competition from Chinese manufacturers, Honda Motor revealed intentions to move its strategic focus to electric vehicles by closing one

Amidst intense competition from Chinese manufacturers, Honda Motor revealed intentions to move its strategic focus to electric vehicles by closing one of its plants and stopping production at another. October will see the end of operations for the facility, which is run as a joint venture with Guangzhou Automobile Group. A second factory owned by Dongfeng will also see Honda suspend operations beginning in November. By taking these actions, Honda will be able to produce 1.2 million fewer automobiles annually in China than 1.49 million. But later this year, Honda intends to begin production at two additional EV factories, partially offsetting this drop and increasing capacity to 1.44 million vehicles. Chinese automakers that sell reasonably priced, technologically advanced cars are becoming a bigger rival to the corporation. Read More..

B2B Tech News | 1 days ago        

PBOC Surprises Markets with Unexpected Rate Cuts to Stimulate Chinese Economy

The Peoples Bank of China PBOC, the countrys central bank, shocked investors on Thursday by reducing interest rates dramatically in an unforeseen lend

The Peoples Bank of China PBOC, the countrys central bank, shocked investors on Thursday by reducing interest rates dramatically in an unforeseen lending operation. Through its mediumterm lending facility MLF, the PBOC granted 200 billion yuan $27.5 billion in oneyear loans at a rate of 2.30%, which was a 20 basis point decrease from the previous rate. An additional 235.1 billion yuan was added to the markets via sevenday reverse repos at 1.70% to guarantee sufficient liquidity. This action, which comes after previous benchmark rate decreases, is a reaction to the significant falls in the stock market and the weakerthanexpected GDP figures. Though some analysts think more extensive fiscal actions are required to address underlying economic concerns, analysts assume the rate reduction seeks to lower lending costs and combat deflationary pressures. Read More..

B2B Tech News | 1 days ago        

Julius Baer Reports 15% Profit Drop in H1 2024 Amid CEO Change and Loan Losses

The first half of 2024 saw a 15% decline in earnings for Swiss private bank Julius Baer. Adjusted net profit dropped from 541 million francs in the pr

The first half of 2024 saw a 15% decline in earnings for Swiss private bank Julius Baer. Adjusted net profit dropped from 541 million francs in the previous year to 459.7 million Swiss francs $520.79 million, below analyst projections of 490 million francs. The banks substantial losses from loans to the nowinsolvent Signa Group, its most significant client un the private debt market, led to the resignation of CEO Philipp Rickenbacher and this collapse. Notwithstanding these obstacles, Julius Baer brought in 3.7 billion francs in net new money, more than the 3.5 billion francs anticipated but less than the 7.1 billion francs recorded the previous year. The bank has named Stefan Bollinger, a partner at Goldman Sachs, as its next CEO. Read More..

B2B Tech News | 1 days ago        

South African Rand Slides Ahead of June Inflation Data and U.S. Political Developments

As investors anticipated June inflation statistics and kept an eye on developments in the U.S. presidential campaign, the South African rand fell by 0

As investors anticipated June inflation statistics and kept an eye on developments in the U.S. presidential campaign, the South African rand fell by 0.9% to 18.4025 against the dollar on Tuesday. Ahead of Statistics South Africas inflation data, which might influence future interest rate decisions, the rand has declined, reflecting caution. Markets are also paying attention to changes in U.S. politics after U.S. President Joe Biden withdrew from the 2024 race and endorsed Vice President Kamala Harris. Inflation in the local area is predicted to drop to 5.1% in June from 5.2% in May. The Top40 index on the Johannesburg Stock Exchange increased by 0.24%, while South Africas 2030 government bond yield decreased to 9.46%. Read More..

B2B Tech News | 2 days ago        

Boschs Largest Acquisition $8 Billion Deal for Residential Ventilation Units from Johnson Controls and Hitachi

Robert Bosch has agreed to pay $8 billion to purchase the home ventilation operations of Hitachi and Johnson Controls. This is Boschs largest acquisit

Robert Bosch has agreed to pay $8 billion to purchase the home ventilation operations of Hitachi and Johnson Controls. This is Boschs largest acquisition to date. Bosch Home Comfort will see a boost in revenues from the purchase, which will reach €9 billion. The joint venture with Hitachi will keep its interest in ductless HVAC production facilities in Japan, and Johnson Controls North American ducted HVAC business is included in the deal. Bosch wants to take advantage of the expanding market for heat pumps and energyefficient technology in the United States and Asia. The deal, which is financed by Boschs cash on hand, is anticipated to increase significantly the companys market share in the heating and cooling industry worldwide. Johnson Controls anticipates net proceeds of around $5 billion after taxes on the $6.7 billion in cash it will receive. Read More..

B2B Tech News | 2 days ago        

Deutsche Bank Reports First Net Loss in Four Years €143 Million for Q2

Deutsche Bank ended a 15quarter profit run with a Q2 net loss of €143 million. Its first loss in four years was caused by the bank having to put asi

Deutsche Bank ended a 15quarter profit run with a Q2 net loss of €143 million. Its first loss in four years was caused by the bank having to put aside €1.3 billion for ongoing investor litigation about its acquisition of Postbank. Deutsche Bank raised its annual projection for credit loss provisions even though the actual loss was smaller than the projected €280 million. According to CEO Christian Sewing, the bank is on pace to accomplish its 2025 goals and shareholder commitments. Ongoing legal battles over the Postbank acquisition have increased losses and resulted in operational problems and regulatory scrutiny. Revenues from business and retail banking fell while those from the investment bank increased by 10%. Read More..

B2B Tech News | 2 days ago        



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