MADS CLAUS RASMUSSEN / Ritzau Scanpix / AFP / Getty Images Novo Nordisk expects the job reductions will save about $1.25 billion by the end of next year. Key Takeaways Novo Nordisk said it is laying off about about 9,000 positions or 11.5% of its workforce in a "transformation" of the drugmaker's business. The maker of Ozempic and Wegovy said the cuts are part of a plan to help the company grow its diabetes and weight-loss products. Novo Nordisk expects the job reductions will save about $1.25 billio ...

US President Donald Trump is launching an enforcement drive against pharmaceutical companies and social media influencers who are responsible for “misleading” drug advertising. The US Food and Drug Administration (FDA) is sending thousands of letters warning pharmaceutical companies to remove misleading ads, in addition to issuing around 100 letters to other companies demanding they pull deceptive marketing. The drive is via a presidential memorandum in which Trump has tasked health secretary Robert F Ke ...

By Tatiana Bautzer NEW YORK (Reuters) -Morgan Stanley co-president Dan Simkowitz said on Tuesday there is "dramatic improvement" on the deals outlook, not just compared with the months where tariff volatility froze discussions, but considering a longer period in the decade. Simkowitz said at a banking conference that companies are gaining confidence in reacting to deregulation policies, tax cuts and potential interest rate cuts through the end of the year. The executive said that after three years of lo ...

Key Points Oracle reported results that fell short of Wall Street's expectations. However, the company's backlog exploded higher, sending the stock into orbit. Oracle stock has seen a commensurate increase in its valuation. 10 stocks we like better than Oracle › Shares of Oracle (NYSE: ORCL) charged sharply higher on Wednesday, soaring as much as 41.3% in early trading. As of 10:42 a.m. ET, the stock was still up 39.1%. The catalyst that sent the enterprise database, cloud, and artificial intell ...

BlackRock is preparing to list its iShares Bitcoin ETP (BTCN) on the London Stock Exchange to coincide with an FCA rule change. | Credit: SOPA Images / Getty Images. Key Takeaways An impending FCA rule change will let retail investors in the U.K. access crypto exchange-traded notes. ETNs differ from ETFs, which are required to diversify their portfolio under European regulation. Bitwise, WisdomTree, and 21Shares currently list Bitcoin ETNs on the London Stock Exchange, but only for qualified investo ...

Renewable energy producer Statkraft has completed the divestment of its 49% minority stake in the hydropower joint venture (JV) Malana Power Company to the Indian conglomerate LNJ Bhilwara Group. The sale encompasses Statkraft's interests in the 86MW Malana and 192MW Allain Duhangan hydropower plants, both situated in Himachal Pradesh, India. These plants were jointly managed by Statkraft and LNJ Bhilwara Group since 2004 under a 49:51 ownership structure. With the deal now complete, Bhilwara Energy, a ...

SDI Productions / Getty Images Mortgage demand surged in the week ending Sept. 5 as borrowers took advantage of a drop in mortgage rates. Key Takeaways Home buyers and refinancers applied for mortgages at the highest level since 2022 as mortgage rates fell to their lowest since last October. Mortgage volume was higher last week than the same time last year as borrowers rushed to take advantage of falling rates. Significant increases were seen in applications for both purchases and refinancing, especi ...

European financial services infrastructure provider Finmid has announced the expansion of its embedded lending solution to 30 European markets. The new markets in the company’s list include Bulgaria, Hungary, Malta, Romania, and Switzerland. Germany-based Finmid said the expansion offers more than 32 million small and medium-sized enterprises (SMEs) in the region direct access to capital from the platforms they already use. The fintech’s solution helps platforms and merchants unlock new revenue streams, ...

Key Points Chewy met analyst forecasts for sales and earnings this morning. Earnings per share took a big hit because Chewy had to pay taxes last quarter. It paid taxes, though, because Chewy was profitable. 10 stocks we like better than Chewy › Online pet food store Chewy (NYSE: CHWY) reported earnings this morning, and investors think Chewy is a very bad boy. The stock fell 12.6% through 9:50 a.m. ET despite hitting analyst forecasts for $0.33 per share in adjusted earnings, and beating (barely ...

Revenue Analytics has announced a strategic partnership with Cloudbeds, aiming to enhance hotel revenue management through AI-driven pricing. This collaboration allows hotels using Cloudbeds' property management system to directly access Revenue Analytics' N2Pricing solution, streamlining the process of setting optimised rates. Cloudbeds customers can now benefit from a seamless integration with N2Pricing, facilitating the adoption of automated, intelligent pricing strategies. The two-way connection bet ...