FLSmidth Says In Talks To Acquire ThyrssenKrupp’s Mining Business – Quick Facts
FLSmidth (FLIDF.PK), a Denmark-based engineering company, said Friday it is in talks with German industrial and technology group ThyssenKrupp AG (TYEKF.PK) regarding an acquisition of ThyssenKrupp’s mining business.
FLSmidth noted that the negotiations are at a non-binding stage and there can be no assurances as to whether and when a transaction will transpire.
IPO Lockup Expiration Alert: Relay Therapeutics (RLAY)
The lockup period of Relay Therapeutics (RLAY) expires today, i.e., January 12.
Cambridge, Massachusetts-based Relay Therapeutics is a clinical-stage precision medicines company, with an initial focus in oncology.
There are three lead product candidates in the pipeline – RLY-1971, RLY-4008, and RLY-PI3K1047.
–RLY-1971 is currently in a Phase 1 dose escalation study in patients with advanced or metastatic solid tumors.
Last month, the company signed a worldwide license and collaboration agreement with Genentech for RLY-1971. As part of the deal, Relay received $75 million upfront and is eligible to receive an additional $25 million in near-term payments and $695 million in additional potential milestones, plus royalties on global net product sales.
–RLY-4008 is currently under phase I clinical trial in patients with advanced solid tumors having oncogenic FGFR2 alterations, with initial clinical update is expected in 2021.
— RLY-PI3K1047 is anticipated to enter into IND-enabling studies in 2021.
Relay Therapeutics made its debut on The Nasdaq Global Select Market on July 16, 2020, offering its shares at a price of $20 each and as mentioned above, the 180 day lockup period expires on January 12.
RLAY opened the first day of trading on July 15 at $34.85 and closed at $35.05 that day. The stock has thus far hit a low of $32.56 and a high of $57.59.
RLAY closed Monday’s trading at $37.29, down 8.31%.
Iraq Raises Crude Pricing to Asia for February After Saudi Boost
Iraq raised pricing for all crude sales to Asia for February, after a similar move by Saudi Arabia, OPEC’s biggest producer.
The second-largest OPEC member, Iraq increased Basrah Light crude to buyers in Asia by 70 cents a barrel, to a $1.10 premium over the regional benchmark, according to a price list from the state oil marketer.
Crude markets are tightening after Saudi Arabia announced last week it will make a unilateral 1 million barrel-a-day production cut in February and March. Saudi Arabia also raised its pricing for February crude sales to Asia. The planned Saudi reduction in output drove Brent crude to more than $55 a barrel last week, up 8% so far this year.
The Organization of Petroleum Exporting Countries and its allies agreed last week to keep production unchanged for most members as their coalition seeks to keep output restrained amid slack demand and coronavirus shutdowns. While Russia and Kazakhstan will be able to pump slightly more, their increases will be outweighed by the Saudi production cut.
Iraq also raised prices for its Basrah Medium and Basrah Heavy grades to Asia. It increased February pricing for Light and Medium barrels to the U.S. and kept Basrah Heavy to the U.S. unchanged. Shipments to America of Kirkuk crude from northern Iraq will cost less. Baghdad is cutting all pricing to Europe by at least 80 cents a barrel.
Gold gains ₹ 347; silver climbs ₹ 606
Gold gained for the third day on Wednesday rising ₹ 347 to ₹ 48,758 per 10 gram in the national capital in line with rally in global precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹ 48,411 per 10 gram.
Silver also witnessed buying as it gained ₹ 606 to ₹ 65,814 per kg from ₹ 65,208 per kg in the previous trade.
In the international market, both gold and silver were quoting with gains at $ 1,854 per ounce and $ 25.28 per ounce, respectively.
Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, "Gold prices edged higher, reacting to U.S. Treasury Secretary nominee Janet Yellen’s plans to fight the coronavirus-induced economic crisis with big spending."
Dom’s Take: Fly, Robin, Fly!
On February 1, 2021, Finance Minister Nirmala Sitharaman will present her third Budget.
The year gone by has forced airlines to focus sharply on cutting costs and tweaking internal dynamics for survival.
Due to the COVID-19 pandemic, the sector has seen major erosion in air traffic, resulting in mass lay-offs in the industry.
In the first of a series on Budget 2021, Dominic Xavier hopes the FinMIn will give India’s struggling airlines a break.
- Dom’s Take
Feature Presentation: Aslam Hunani/Rediff.com
YouTube removes Trump videos and bans him from uploading new content for a minimum of 7 days, citing 'ongoing potential for violence'
- YouTube said Tuesday that it has "removed new content" from President Donald Trump's official channel and banned him from posting new videos for a "minimum" of one week for violating its policies.
- YouTube also gave Trump's channel its first "strike," and is "indefinitely disabling" comments over "safety concerns."
- YouTube's actions come days after Facebook and Twitter banned Trump from their platforms entirely, and amid pushback from Google's newly formed union, which slammed the company's response to recent violence as "lackluster."
- Visit Business Insider's homepage for more stories.
Get the latest Google stock price here.