Competition Commission approves Tata-Air India deal

Roivant Sciences Uptick Continues

Roivant Sciences Ltd. (ROIV) shares are gaining more than 20 percent on Monday morning, continuing a rally since the company said on December 16 that it executed its largest deployment to date with Roivant Discovery. There were no corporate announcements from the company today to impact the stock movement.

Currently, shares are at $13.18, up 20.37 percent from the previous close of 10.95 on a volume of 1,532,172. For the 52-week period, the shares have traded in a range of $5.80-$16.76 on average volume of 763,542.

Rep. Troy Nehls: 'Dangerous' Build Back Better plan puts the American people last

Rep. Nehls says Biden admin not being truthful about Build Back Better: ‘Places Americans last’

Rep. Troy Nehls, R-Texas, reacts to Sen. Joe Manchin, D-W.V. saying no to Biden’s spending agenda.

Rep. Troy Nehls, R-Texas, reacted on Monday to Sen. Joe Manchin, D-W.V. saying ‘no’ to President Biden’s Build Back Better agenda. 

PELOSI EYES VOTE EARLY NEXT YEAR AFTER MANCHIN’S MAJOR BLOW TO BUILD BACK BETTER

TROY NEHLS: [The Biden administration] is not being truthful with the American people. The CBO is a neutral organization. They’re the accountants. They’re looking at the number and the number for them is very dismal. It’s just adding billions and billions of dollars of more debt to the American people and I applaud Senator Manchin and some of the other conservatives for stopping this because this is a bad bill. It’s dangerous. It’s not good for America, and it places the American people last quite honestly. 

WATCH THE FULL INTERVIEW BELOW 

Sociedad Química Slips 10% After BofA Downgrades Stock

Shares of Sociedad Química y Minera de Chile S.A. (SQM) are slipping nearly 10% on Monday morning despite no stock-related statement from the company. However, the stock was downgraded by Bank Of America.

According to PriceTargerts.com, Bank Of America’s analyst has downgraded Sociedad Quimica’s stock from Neutral to Underperform with a price target of $50.00, down from $67.00.

SQM is currently trading at $50.59, down $5.32 or 9.52%, on the NYSE. The stock has traded between $

Sociedad Química produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services worldwide.

BrightView Holdings Slips 10% After Goldman Sachs Downgrades Stock

Shares of BrightView Holdings Inc. (BV) are slipping over 10% on Monday morning despite no stock-related news statement from the company. However, the stock was hurt after Goldman Sachs’ analysts downgraded the stock.

BV is currently trading at $12.97, down $1.50 or 10.37%, on the NYSE. The stock has traded between $12.47 and $19.17 in the past 52 weeks.

According to PriceTargets.com, Goldman Sachs Group has downgraded the stock from Buy rating to Neutral, with a price target of $15.00, down from $18.00.

BrightView Holdings through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services.

Coca-Cola Recalls 3 Minute Maid Drinks Due To Foreign Matter

Coca Cola Company (KO) has reportedly recalled some of its Minute Maid drinks due to potential foreign objects in the containers, specifically metal bolts or washers.

According to Fox Business, the company has recalled a limited quantity of refrigerated Minute Maid Berry Punch, Strawberry Lemonade, and Fruit Punch in 59-oz. cartons as they did not meet the company’s “high-quality standards due to the potential presence of foreign matter.”

The recalled products were distributed in Pennsylvania, Connecticut, New York, North Carolina, Maryland, Virginia, Maine and New Jersey, according to the Food and Drug Administration.

The company said it is concerned that consumers may still have the products in their homes because of their long shelf life, which extends into 2022.

“We took this voluntary action because nothing is more important to us than providing safe, high-quality products to the people who drink our beverages,” the Coca-Cola spokesperson said in a statement.

Herald morning quiz: December 21

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

Competition Commission approves Tata-Air India deal

CCI’s approval paves the way for completion of transaction

The Competition Commission of India (CCI) has approved the Tata Group’s proposed acquisition of debt-laden Air India and two of its units.

“The CCI approves acquisition of shareholding in Air India Ltd., Air India Express Ltd. and Air India SATS Airport Services Pvt. by Talace Pvt. Ltd.,” the CCI said in a release on Monday.

The CCI’s nod for the ₹18,000 crore-deal that entails Talace taking over ₹15,300 crore of debt, paves the way for completion of the transaction and the revival of the ailing carrier.

Talace Pvt. Ltd., a wholly owned subsidiary of Tata Sons, emerged as the winning bidder in October. It will buy 100% stakes in Air India and Air India Express and 50% holding in Air India SATS (AISATS).

AISATS provides ground handling services at Delhi, Bengaluru, Hyderabad, Mangalore and Thiruvananthapuram airports. It also provides cargo handling services at Bengaluru airport.

State-owned Air India has been incurring a monthly loss of over ₹600 crore.

Civil Aviation Minister Jyotiraditya Scindia, on December 14, said the Air India transaction was a “win-win situation” across the board and that taxpayers’ money would now be more justifiably used for many more socially productive purposes rather than filling the deep losses of the airline.

“I am very confident at the turn of the New Year, you will have the transfer of Air India to its new owner,” Mr. Scindia had said.

(With PTI inputs)