Author: News Desk

Moderna and Merck’s collaborative effort to combat the deadliest form of skin cancer, melanoma, has yielded promising results, according to midstage trial data released on Thursday. Their experimental cancer vaccine, when used in conjunction with Merck’s blockbuster therapy, Keytruda, demonstrated a remarkable reduction in the risk of death or cancer relapse by 49% in patients with advanced melanoma after approximately three years of treatment. Moreover, the combination therapy slashed the risk of melanoma spreading to other parts of the body by an impressive 62%. Moderna CEO Stephane Bancel expressed optimism about the vaccine’s regulatory approval, with potential launches in some…

On January 1, 2024, Jeff Ward assumed the role of Chief Executive Officer (CEO) at FXSpotStream, a leading FX electronic liquidity distribution provider. This significant leadership transition had been announced the previous August, marking Ward as the permanent successor to Alan Schwarz, the company’s Co-Founder who had stepped down the year before. Following Schwarz’s departure, Tom San Pietro, FXSpotStream’s Chief Technology Officer, temporarily took on the CEO position. Jeff Ward officially confirmed his appointment in a LinkedIn post, heralding the beginning of his tenure. Mark Meredith, Chairman of the Board at LiquidityMatch, the parent company of FXSpotStream, expressed great confidence…

Just hours before the dawn of the new year, cybercriminals executed a daring attack on Orbit Bridge, a bridging service associated with the cross-chain protocol known as Orbit Chain. This audacious breach resulted in the illicit acquisition of approximately $82 million worth of cryptocurrencies. While the attack had been officially acknowledged by Orbit Chain on a Monday, no specific details regarding the extent of the loss were provided. According to the official confirmation, the attackers successfully exploited the protocol on December 31, 2023, at precisely 08:52:47 PM +UTC. At present, the development team is diligently investigating the root cause of…

DRIFT, the studio and its associated token, which powers the Web3 game Payout Pursuit, accomplished a remarkable feat by selling out in the initial round of its presale in a mere two hours. This groundbreaking project, crafted by a seasoned and transparent team, is now gearing up for its second presale round, scheduled for January 3rd at 12pm EST (5pm UTC). DRIFT stands apart due to its innovative tokenomic structure, where the success of the game mutually benefits the studio token, and vice versa. Notably, this structure manages to reduce sell pressure by creating a two-way insulation mechanism between the…

In 2023, Michael Burry, the famed investor known for his past successes and bold predictions, had quite an eventful year. From his pessimistic outlook on the stock market and the economy to his strategic investment moves, Burry made headlines once again. Throughout the year, Burry maintained a low profile, refraining from public commentary since April. However, his followers eagerly await his return to the market scene, as the current investment landscape remains uncertain and they value his colorful, insightful, and often prophetic insights. Michael Burry’s unique perspective and investment decisions continue to intrigue and captivate the financial world.

Houston, often hailed as a global energy powerhouse, is emerging as a formidable player in the clean tech arena, giving Silicon Valley a run for its money. The Texan metropolis is undergoing a remarkable transformation, transitioning from its traditional oil and gas roots to embrace the burgeoning world of renewables. This transition is being accelerated by a vibrant ecosystem of startups pioneering innovative green technologies, drawing professionals away from California to partake in Houston’s thriving market. Historically renowned for its oil and gas prowess, Houston plays host to numerous energy giants, with approximately 34 percent of all publicly traded U.S.…

DBS Group Holdings (DBSM.SI) has announced its plans to boost its investment in China’s Shenzhen Rural Commercial Bank in a significant S$376 million ($284.72 million) transaction, showcasing its commitment to harnessing the burgeoning opportunities in the Greater China region. DBS Bank, a subsidiary of Southeast Asia’s leading financial institution, will elevate its ownership stake in the privately held Chinese bank from 13% to 16.69%. This strategic move underscores DBS’s vision to strengthen its presence and engagement within China’s dynamic financial landscape. In this deal, DBS will acquire a substantial 383.6 million shares at a price of 5.25 yuan per share.…

Citigroup is taking decisive steps to streamline its operations on Wall Street under the leadership of CEO Jane Fraser. Sources at CNBC have disclosed that the bank has made the strategic decision to shutter its global distressed-debt group, aligning with Fraser’s overarching mission to reshape the bank’s future. The move to close down the distressed-debt group is part of Citigroup’s broader strategy to exit businesses that have been yielding poor returns, a critical step towards achieving Fraser’s ambitious performance targets. In a significant development, Fraser had unveiled a comprehensive overhaul plan for the bank in September, signaling her commitment to…

Bristol Myers Squibb (BMS) has announced a major acquisition, revealing its agreement to purchase Karuna Therapeutics, a prominent biopharmaceutical company, for a substantial $14 billion in an all-cash transaction, equating to $330 per share. The news of this acquisition caused Karuna’s stock to surge by over 47%, reaching an impressive $317.85 per share, while BMS shares experienced a more modest 2% increase. This strategic move by Bristol Myers Squibb is aimed at bolstering its drug pipeline, particularly in response to the competition posed by generic alternatives, which led to a decline in demand for its blood cancer drug, Revlimid, during…

With bonds emerging from a historic selloff, investors are cautiously optimistic about the U.S. fixed income market in the coming year, contingent on the Federal Reserve’s expected rate cuts. A late-year rally in the fourth quarter rescued bonds from an unprecedented third consecutive annual loss in 2023, following the worst decline ever recorded a year earlier. This resurgence followed a slump in Treasuries to their lowest levels since 2007 in October. The Morningstar US Core Bond TR USD index, tracking U.S. dollar-denominated securities with maturities exceeding one year, witnessed a year-to-date total return of 5.47% as of this week, a…