Copper prices have recently declined from $4.63 to $4.45 per pound, influenced by moderating optimism regarding China's economic stimulus measures. Despite this, a bullish outlook remains, with key support at $4.26 and a target of $5.0, as the Fed's pivot supports industrial metals. Investors are awaiting China's upcoming economic data, including inflation and trade balance.
Ralph Hamers, the former CEO of UBS, has joined Arta Finance, a US wealth management platform founded by ex-Google employees, as an angel investor and advisor. The firm aims to democratize asset management using artificial intelligence, targeting accredited investors with a low-threshold offering. Hamers, who recently stepped down from UBS, sees significant potential in integrating technology and finance to enhance asset management services.
Sanofi is negotiating to sell a 50% stake in its consumer healthcare division, Opella, to U.S. private equity firm CD&R for approximately 15.5 billion euros. The French government is closely monitoring the deal, emphasizing the need for economic commitments to maintain operations and decision-making in France.
Apax Partners will cease new investments in health care, disbanding its dedicated team due to a lack of opportunities in the sector. The firm will reassign team members to other roles while continuing to manage existing health care portfolio companies and focus on technology, services, and internet consumer sectors. Co-CEOs cited regulatory pressures and market variability as key factors in their decision. [Source](https://www.bloomberg.com)
Vietnam Prosperity Bank (VPBank) has secured a credit limit of 150 million USD from the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam. The agreement, signed on October 9, 2024, aims to support the national goal of achieving net zero emissions by 0, aligning with international sustainable development initiatives. This partnership underscores the growing trust of international financial institutions in VPBank and strengthens economic ties between Vietnam and Japan.
If marijuana is reclassified as a Schedule 3 drug, the industry could benefit from reduced taxes and increased investment opportunities. Currently, companies face high tax rates and competition from the illegal market, but several strong players, including Ascend Wellness and Curaleaf, are positioned for potential growth amid ongoing regulatory changes.
M&A activity in the artificial intelligence sector is shifting, with major tech firms like Google and Microsoft opting for licensing technologies and acquiring talent instead of full acquisitions to navigate regulatory scrutiny. This trend reflects the increasing value of AI and the strategic decisions facing startups, which must weigh independence against potential partnerships with big tech. In Europe and Italy, while traditional acquisition models prevail, interest in AI is growing, evidenced by significant deals like BioNTech's acquisition of InstaDeep.
CeriBell has made its debut on the public market through a rare initial public offering (IPO) in the medical-device sector. This move highlights the growing interest and investment in innovative healthcare solutions, setting a precedent for future IPOs in the industry.
VPBank has secured a USD 150 million credit agreement with the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam, supporting the national goal of achieving net-zero emissions by 2050. The agreement, signed on October 9, 2023, aligns with Vietnam's Eighth Energy Development Plan and the Asia Zero Emissions Community initiative. This partnership underscores the growing confidence of international financial institutions in VPBank and strengthens economic ties between Vietnam and Japan.
On September 10, Oracle's stock surged 11% following strong quarterly results, contributing to a 1.5% rise in the Information Technology sector, which was the second-best performer after Real Estate. The S&P 500 gained 0.5%, while bonds rallied, with the 10-year yield dropping to 3.65%, the lowest since June 2023. Energy stocks struggled as crude oil prices fell to their lowest close since late 2021.
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