Olam Group has strongly refuted recent news reports claiming that its Nigerian units and subsidiaries were involved in a significant fraud valued in the billions of dollars. The company dismissed these allegations as "baseless and inflammatory statements" in a filing to the Singapore exchange. The reports, sourced from the Daily Nigerian newspaper and Prime Business Africa, … [Read more...] about Olam Group Denies Allegations of Multi-Billion Dollar Fraud
Neumora Therapeutics Plans IPO
Neumora Therapeutics, a clinical-stage biopharmaceutical company specializing in brain diseases, has announced its plan to launch an initial public offering (IPO) to raise capital. Backed by Amgen, the company intends to sell 14.7 million shares at a price range of $16 to $18 per share. At the midpoint of $17 per share, Neumora expects to generate approximately $227.5 million … [Read more...] about Neumora Therapeutics Plans IPO
UK Unemployment Rate Slightly Rises, Wage Growth Ahead of Inflation
The jobless rate in the United Kingdom increased slightly during the three months leading up to July. However, wage growth remained steady and is now surpassing inflation, which could potentially alleviate some of the pressure on the Bank of England in its efforts to monitor the cooling labor market. According to data released by the Office for National Statistics on Tuesday, … [Read more...] about UK Unemployment Rate Slightly Rises, Wage Growth Ahead of Inflation
Smurfit Kappa Group and WestRock Co. Sign Merger Agreement
Smurfit Kappa Group and WestRock Co. have officially signed a merger agreement, creating a global paper and packaging powerhouse valued at approximately $20 billion. The merger was announced on September 7, and the new company will be named Smurfit WestRock. It will be listed on the New York Stock Exchange and have a standard listing in London. Leadership and Ownership … [Read more...] about Smurfit Kappa Group and WestRock Co. Sign Merger Agreement
Palantir Technologies Stock Downgraded
Palantir Technologies saw its stock tumble after an analyst downgraded the company's outlook for the near term. Keith Weiss from Morgan Stanley lowered his call on Palantir (PLTR) to Underweight from Equal Weight. However, he did raise his target for the stock price to $9 from $8. In a research note, Weiss expressed his concerns about the visibility and monetization of … [Read more...] about Palantir Technologies Stock Downgraded
