UniCredit Bid for Banco BPM Is Paused for 30 Days by Regulator
The last-minute decision — a day before the offer period expires on Wednesday — will give the lender more time to end uncertainty over conditions imposed by the government on a deal, the people said, asking not to be identified because the decision has yet to be announced.
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Yahoo
8 minutes ago
- Yahoo
Get your act together on immigration, Trump tells Europe as he lands in Scotland
Europe 'better get your act together' on immigration, US President Donald Trump said as he landed in Scotland. Mr Trump is in the country for a four-day visit to both of his golf clubs in Aberdeen and Ayrshire. Landing at around 8.30pm on Friday, the president was greeted by Scottish Secretary Ian Murray before speaking to reporters. Asked about illegal immigration – which successive UK governments have sought to curb – Mr Trump said: 'On immigration, you better get your act together. 'You're not going to have Europe anymore, you've got to get your act together. 'As you know, last month we had nobody entering our country – nobody, (we) shut it down.' He added: 'You've got to stop this horrible invasion that's happening to Europe.' Immigration, Mr Trump said, was 'killing Europe'. Some European leaders, he continued, 'have not let it happen' and are 'not getting the proper credit they should', though the president did not say who he was talking about. Mr Trump said: 'Many countries in Europe, some people, some leaders, have not let it happen, and they're not getting the proper credit they should.' The president also praised Sir Keir Starmer ahead of a meeting between the two at one of his courses in the coming days, describing him as a 'good man'. 'I like your Prime Minister, he's slightly more liberal than I am – as you probably heard – but he's a good man. He got a trade deal done,' he said. 'You know, they've been working on this deal for 12 years, he got it done – that's a good deal, it's a good deal for the UK.' The president's motorcade – which contained more than two dozen vehicles – passed a small group of protesters as he entered his Turnberry golf club. Mr Trump also suggested he would be meeting Sir Keir 'tomorrow evening', although it is understood the pair will not meet until Monday. As well as the Prime Minister, Scottish First Minister John Swinney will meet with the president, as will European Commission president Ursula von der Leyen, who confirmed on X she will come to Scotland on Sunday in a bid to hash out a trade deal between the US and Europe. Mr Trump told journalists there was a 'good 50/50 chance' of a deal being struck, adding that it would be the 'biggest deal of them all'. The president and Sir Keir are expected to discuss potential changes to the UK-US trade deal which came into force last month. Mr Swinney has pledged to 'essentially speak out for Scotland'. Speaking as he boarded Air Force One in the US, Mr Trump said he would be having dinner with the Prime Minister at Turnberry, before 'going to the oil capital of Europe, which is Aberdeen'. He said: 'We're going to have a good time. I think the Prime Minister and I get along very well.' Mr Trump added: 'We're going to be talking about the trade deal that we made and maybe even approve it.' He also told journalists he was 'looking forward' to meeting with the 'Scottish leader' Mr Swinney, describing him as a 'good man'. During his time in Scotland, the president is also likely to spark a number of protests, with concerns being raised about how such demonstrations are policed. Police Scotland has called in support from other forces in the UK to help bolster officer numbers, though senior officers and the organisation which represents the rank-and-file have accepted Mr Trump's visit will have an impact.
Bloomberg
11 minutes ago
- Bloomberg
Trump Says 'We'll See' If There Will Be EU Deal Ahead of Sunday Meeting: Q&A
President Donald Trump answers questions from reporters as he lands in Scotland. The president previewed a meeting with the EU's Ursula von der Leyen expected to take place Sunday, as negotiations progress on a trade deal between the US and the EU. (Source: Bloomberg)
Yahoo
18 minutes ago
- Yahoo
Galapagos, having backtracked on split, weighs sale of cell therapy business
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Dive Brief: Galapagos on Wednesday said it's considering selling its cell therapy business, which previously had been the centerpiece of a restructuring plan. In January, the Belgian drugmaker said it would split into two pieces, one that would keep the name Galapagos and focus on cell therapy and another that would build a pipeline by buying assets. Then in May, the company said it was re-evaluating that plan while exploring 'all strategic alternatives for its existing businesses' and looking for more outside deals. In its latest update, Galapagos said it's evaluating strategic alternatives for the cell therapy business, including a divestiture. It also announced the appointments of two new executives and two new board members who will join an already revamped leadership team. Dive Insight: Investors have punished Galapagos over the last five years after a series of research and development setbacks. The company's American depositary receipts, which topped $274 in February 2020, plummeted below $23 five years later. And while the stock has ticked up in recent months, the announcement of the latest 'new chapter' from Galapagos sent ADRs down 10% to under $30 apiece on Thursday. CEO Henry Gosebruch, originally tapped to lead the planned spinout company, is now charged with an overall revamp of Galapagos. He's joined by a new CFO, Aaron Cox, and the latest hires, Sooin Kwon as chief business officer and Dan Grossman as chief strategy officer. Kn and Grossman start on Aug. 4. Together, the group needs to find a way to stem losses that have expanded with restructuring costs while employing a huge pile of cash to buy experimental medicines that could turn into blockbusters. Galapagos had 3.1 billion euros, or $3.6 billion, in cash and financial investments at the end of June after its second-quarter loss widened to 215.7 million euros from 71.3 million euros a year earlier. 'The new management appears credible and has the right skillsets for the tasks at hand,' Leerink Partners analyst Faisal Khurshid wrote in a note to clients Wednesday. Still, Khurshid said he's keeping his 'market perform' rating on the stock as he waits to see how the team executes its mission. Galapagos reported a few interim steps on its 'transformation journey.' The company said it's transferred certain small molecule programs in oncology and immunology to Onco3R Therapeutics in return for equity and future unspecified 'milestone-based considerations.' Gilead Sciences also agreed to give up its opt-in rights to the cell therapy business, giving full control to Galapagos. Recommended Reading Galapagos backtracks on planned split Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
