Latest news with #GlobalData
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44 minutes ago
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ASCO25: J&J's Carvykti shows strong efficacy across multiple myeloma risk groups
Updated analysis showed Carvykti (ciltacabtagene autoleucel) improved survival for multiple myeloma patients regardless of their cytogenetic risk or prior lines of therapy. Subgroup analysis of the Phase III CARTITUDE-4 trial (NCT04181827) showed Johnson & Johnson's (J&J) Carvykti improved overall (OS) and progression-free survival (PFS) for relapsed or refractory multiple myeloma patients (r/r MM) compared to standard-of-care (SOC). The drugmaker presented their abstract on 1 June at the 2025 American Society of Clinical Oncology (ASCO) conference in Chicago, taking place from 30 May to 3 June. CARTITUDE-4 enrolled 419 patients internationally who had refractory MM following treatment with lenalidomide. Patients were randomised to receive Carvykti infusion with either PVd (pomalidomide, bortezomib, and demathesone) or DPv (daratumumab, pomalidomide, and dexamethasone) SOC treatment, or PVd/DPv SOC alone. At a median follow-up of 33.6 months, median PFS among those with extramedullary disease, a risk factor associated with poor prognosis, was found to be 13 months for Carvytki-treated patients versus 4 months for those given SOC. Median OS was not reached for the Carykti subgroup, being 16 months for the SOC group. This benefit was consistent regardless of prior treatment. For patients with one, two, or three lines of prior therapy (pLOT), median PFS was not reached for all groups with Carvykti while SOC patients achieved median PFS of 17, 12, and eight months, respectively. Median OS was also not reached for all groups treated with Carvykti or those SOC patients with one or two pLOT but was 34 months for SOC patients with 3 prior lines. Carvykti first gained approval from the US Food and Drug Administration (FDA) to treat r/r MM in March 2022 based on results from the Phase Ib/II CARTITUDE-1 trial. It has since further proven its efficacy in this indication, including as part of presentations from prior years' ASCO conferences. The drug has since been approved by the FDA as a second-line MM therapy in April 2024. As per a June 2023 publication, primary data from CARTITUDE-4 showed that at 12 months, PFS was 75.9% with Carvykti and 48.6% without; minimal residual disease (MRD) was absent among 60.6% of patients on Carvykti, just 15.6% for those given SOC. GlobalData projects the drug will generate total global sales of $1.7bn in 2025, a figure estimated to rise to $7.2bn by 2031. GlobalData is the parent company of Clinical Trials Arena. "ASCO25: J&J's Carvykti shows strong efficacy across multiple myeloma risk groups" was originally created and published by Clinical Trials Arena, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
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2 hours ago
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US-Mexico relations: tariff vertigo, construction and silver linings
Ollie Brown is a GlobalData economist focusing on the construction sector and foreign direct investment in the LATAM region. Evidently for constructors and investors on either side of the US-Mexico border, US President Donald Trump's tariffs are rewriting international trade relations with many implications across Latin American economies. Short-term, 25% levies on all exports to the US-- made effective March 4th-- are expected to cripple derived construction demand in Mexico. Long term, there could be benefits as the retainment of high skilled labour and Mexico's foothold in changing global trade could foster more resilient growth, striding away from US dependence. Since Trump's inauguration on January 20th, the White House announced a slew of tariffs on the US's largest trading partners, biased to nations holding significant trade surpluses to the US. Seemingly, US tariffs are being threatened to further national interests, seeking to maximise rent on goods imported to the US, while leveraging access to the US's market as a bargaining tool. Exact levy figures – and market ramifications – continue to fluctuate parallel Trump's sporadic remarks, but to-date (29/05/2025): Mexico faces a 25% bilateral tariff on all USMCA non-compliant exports to the US, made effective March 4th, revoking USMCA free trade terms (consistent with Canada). Mexico is subject to 25% blanket automotive, steel and aluminum tariffs on all exports to the US, whereby steel and aluminum levies hit markets on March 12th, and automotive on April 3rd. Mexico was exempt from further 'Liberation Day' tariffs (along with Canada) announced April 2nd, testament to President Claudia Sheinbaum's cooperative stance as she has avoided retaliation. For example, as part of Mexico's 30-day suspension on US tariffs in February, Mexico agreed to deploy 10,000 National Guard troops to its northern border to combat fentanyl trafficking and illegal immigration. It shows the US is open to trade political concessions for reprieves in the ongoing trade war. For Latin America, while constant policy u-turns make forecasting difficult, the most obvious political concession appears to be cooperating in curtailing migration to the US, one of the Trump administration's defining issues. Hence, the ability to leverage migration control in the tariff tit-for-tat means the likes of Mexico, Brazil, Argentina and other countries south of the US border face comparatively softer treatment. While China, on the other hand, faces an accumulated surtax of 145% in tariffs. Despite relatively subdued tariff measures, in the short-term, levies will abet waning export demand given the scale of US-Mexican trade. Evidently, Mexican exports to the US have been growing YoY to £505.9b in 2024. Similarly, US export share has increased to approximately 82% in 2024, indicative of how dependent Mexico had become on US trade. Therefore, tariffs will disproportionally weigh on Mexico's economy as exporters scramble to substitute US demand. Additionally, FX volatility has been adding to bearish sentiment, albeit recently, the US dollar has dramatically depreciated against the Mexican Peso, from 20.84 (March 11th) to 19.54 (March 24th)-- as illustrated in Figure 2. Therefore, peso price appreciations will somewhat soften the blow to Mexican traders as their currency becomes more regionally competitive. Still, this boost in value will not be substantive enough to counter the expected loss in demand from US levies. Previously, GlobalData argued that tariffs on Mexico would almost inevitably be inflationary, as higher import costs would translate into elevated building material prices and higher barriers to obtaining new building permits which would stunt construction output. However, it now seems that the inflationary effects from the tariffs are being outweighed by the deflationary effects of waning demand as trade volumes plummet. Effectively, the higher prices Mexican constructors would hypothetically have to pay on the supply-side are currently redundant, because there isn't sufficient demand to action the project. Regardless, the short-term net effect is negative. Therefore, GlobalData has revised Mexico's construction output forecast to decline by 7% in 2025. Similarly, economic growth forecasts from TSLombard have been revised downwards from 0.5% to 0.2% for 2025. Parallel to ongoing US-Mexican negotiations over trade in goods and services, Mexican migration to the US is expected to drop as the administration revamps deportation efforts, which have been an effective deterrent for would-be migrants. Given that US remittances to Mexico totalled approximately $65bn in 2024, mass deportations will compound short-term pain. However, the retention of skilled labour in Mexico, previously lost to US industries, could foster more resilient, long-term growth. Figure 3 showcases that in 2022, undocumented workers accounted for approximately 14% of the US's total construction workforce. It is a figure that likely increased in parallel with record surges in migration under the Biden-Harris administration. According to CPWR, workers of Mexican origin account for approximately one-third of the US's total construction labour (2023). Therefore, Trump's hostile migratory policies will inadvertently redirect construction labourers back to Mexico, increasing the ability of Mexican construction to source skilled labour. Mexico's capacity to capitalise on a more robust labour force, however, hinges on its ability to foster the public-private sectors to generate funds to stimulate construction jobs and growth. As previously mentioned, decreased US-Mexican trade will infringe this ability, but long-term, Mexico is taking steps to attract a more diverse assortment of investors. For instance, all trade partners listed in Figure 4 face US levies of varying levels– and correspondingly pose a substitutable investment, particularly in China. Mexico also reached a revamped trade deal with the European Union in January, is currently discussing trade opportunities with China, and is reportedly exploring closer relations with Mercosur– Latin America's regional trade block. GlobalData forecasts rebounded (albeit modest) construction growth in Mexico at a 2% CAGR from 206 to 2029. "US-Mexico relations: tariff vertigo, construction and silver linings" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
2 hours ago
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Lazard moves to new UK headquarters in Manchester Square
Lazard, a US-based financial advisory and asset management firm, has moved to its new regional headquarters in London, UK. The firm is leaving its previous location in 50 Stratton Street, following a twenty-year presence. Initially announced in 2022, the new premises will incorporate Lazard's financial advisory and asset management businesses. Located at 20 Manchester Square, the new seven-story site spans over 7,300sqm and is ideally situated near major hubs in the city. The new building features modern office space focused on innovation and sustainability. It utilises renewable energy through solar panels and features a rainwater harvesting system. The building was constructed according to the UK Green Building Council's net-zero carbon emissions framework. The investment in a new, larger office signifies Lazard's commitment to London as a leading financial centre globally. It is set to become an integral part of the firm's European presence as one of its three key global offices, alongside New York and Paris. Cyrus Kapadia, co-head of European investment banking and CEO of the UK financial advisory team, remarked that the move to the new site underscored the firm's deep-rooted heritage in London. 'We have been successfully growing our European teams and network to further support our clients globally,' he added. Jeremy Taylor, CEO of Lazard UK asset management, stated that the new site reflected the firm's values and vision. 'This new UK headquarters embodies our dedication to continue to best serve the needs of our clients,' he added. According to a GlobalData report, Lazard ranked among the top 10 M&A financial advisers in South and Central America for H1 2024. Over the past couple of years, Lazard announced investments in Austria, the UAE, and Saudi Arabia. "Lazard moves to new UK headquarters in Manchester Square" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
2 hours ago
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Retail cyberattacks: AI making threats 'more advanced and personalised'
The use of artificial intelligence (AI) by perpetrators of cyberattacks is increasing the threat to retailers and their customers, according to a cybersecurity industry leader. Speaking on an episode of GlobalData's Instant Insights podcast, Charlotte Wilson, head of enterprise sales at cybersecurity company Check Point Software, said that while the form that cyberattacks take has not changed a great deal, AI is being used to make them more effective. This embedded content is not available in your region. 'I think they're getting far more advanced and highly personalised because of AI,' said Wilson. 'If you take this retail attack, any of the retailers right now, the primary attack is to get the money from the retailer to free up access back to their information, and that's the ransomware itself for the company, the retailer, to pay or not pay or negotiate. 'The secondary attack is all that information that has been gathered can then be sold to other people that then might do a secondary activity with it. And that's where some of the sophistication comes in. That's where social engineering comes in.' Social engineering is the practice of deceiving and manipulating individuals into performing specific actions. It is a well-known tactic of email scammers who purport to be people or companies that they are not to trick victims into giving them personal information. Of the role of retail cyberattacks in facilitating this, Wilson explained: 'There's the first attack, which is to the retailer. The secondary attack is to you and me, the mums and dads, brothers and sisters, the consumer – and AI is making them something you're more likely to click on because they're much more personalised. 'It could be so much as, 'I see that you bought this in the last time that you visited our store. We hope that was great for you. Here's some personalised offers for you based on what you like to shop for,' and if I've got access to you as a loyalty scheme customer, I probably know quite a bit about you.' Wilson was speaking on the episode following the recent spate of cyberattack targeting UK retailers including Marks and Spencer, Co-op and Harrods. They are thought to have been perpetrated by a group known as Scattered Spider using a ransomware-as-a-service platform called DragonForce, of which Wilson says: 'There will be operators that design the ransomware attacks and the malware, and then there are affiliates that will go and use those and exploit it and hold people to ransom. They sometimes have a profit-share model, so it's a profitable way of doing cybercrime.' Despite widespread coverage of the recent attacks, Check Point, which carries out its own cybersecurity research, finds retail to be only the fifth most hacked industry at present. 'It's way, way behind education, government and healthcare,' said Wilson. 'So, it's actually not the biggest attacked. We think they're dealing with about 300 attacks per week. It starts to get into the 1000s when you start to get into the other industries. 'However, obviously once you're in you can hold to ransom at a higher rate because it's so much more public, and you can see just the press at the moment is reporting the retail hacks pretty much every other day.' Wilson went on to explain that retailers are at a particular disadvantage as they typically have a much larger potential attack surface than businesses in other industries. 'Retailers have an incredibly hard job because they're dealing with so many different suppliers of varying degrees,' said Wilson. 'The networks are dynamic. They have lots of things attached to them, so I think they have a really complex job, and, from a hacker's perspective, the path of least resistance is the one they'll choose. 'If you've got lots of things that you have to maintain, you have to make sure are patched, secured and controlled across many different interfaces, it's much easier for you to have something that isn't as up to date as it should be, or isn't as protected as it could be, they're much more susceptible to mistakes.' Wilson gave two main recommendations for retailers to help keep their cybersecurity tight. 'One clear thing they can do is monitor the third-party access to their networks,' she said. 'One challenge that retailers have that is unique is that some of the suppliers to them might be quite small, and so may not hold the same level of security in their organisation as maybe the retailer is.' In addition, she noted that collaboration between security and IT teams when patching vulnerabilities is required is not always adequate. Wilson is of the opinion that the handling of common vulnerability exploits (CVEs) – vulnerabilities that are identified and need to be patched – often fails as a result of miscommunication or misunderstanding between the two teams within a business. 'I just think the CVE part never really gets taken all that seriously,' she explained. 'That bit, for me, is a big thing. If it's being handled by your IT team as opposed to your security team, I think it's important that the security team stress the need for those certain CVEs that are critical to get patched and sorted, or to put those people outside of a blast zone.' "Retail cyberattacks: AI making threats 'more advanced and personalised'" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 hours ago
- Business
- Yahoo
Will Salesforce's $8bn Informatica deal give the company a lead on agentic AI?
On 27 May, Salesforce announced an $8bn agreement to acquire cloud data management company Informatica. Salesforce's rationale for the deal is to make the company more competitive in the rapidly growing agentic AI market. Informatica offers Salesforce a more comprehensive data management solution to enhance its own, which is largely focused on apps and its new agentic AI solutions. In the wider market, the acquisition highlights a growing competitive field of rival agentic AI tools providers including Microsoft Copilot Agent, IBM watsonx Agents, Google Vertex AI Agents, and Oracle AI Agents, among others, which need to hone their own strategies for improving data management to enable continued and effective AI development. Companies are facing increasing pressure to deploy AI agents to maintain a competitive edge. But Salesforce's own research found that nearly half (48%) of IT leaders have concerns that their company's data foundation isn't ready, and 55% lack confidence in implementing AI with appropriate guardrails. GlobalData research director, Charlotte Dunlap, notes that in recent months, in an effort to remain competitive, Salesforce has turned its attention towards agentic AI capabilities with its Agentforce offering, designed to enhance its developer platforms and business applications. And preceding the Informatica deal, on 15 May, Salesforce announce a definitive agreement to acquire AI agent company to strengthen its Agentforce strategy. 'AI has elevated the importance of data management in providing the contextual perspective that's critical for agentic AI applications, because they work autonomously with minimal human oversight,' said Dunlap. Agentforce was released in October 2024 putting Salesforce in the running to capture a greater share of the agentic AI market, which is developing at breakneck speed. GlobalData predicts that the overall AI market will see a 35% increase in 2025 over 2024, with a compound annual growth rate of 41% from 2023 to 2028. The agentic AI segment is expected to play a critical role in this growth. Salesforce intends to integrate Informatica's technology across its platform, embedding its data tools within the Agentforce AI stack and the data cloud pipeline. Informatica's Intelligent Data Management Cloud offers customers solutions for data cataloguing, data integration from various sources, governance, privacy, metadata management, and master data management. 'Informatica will provide broader integration of data sources including non-Salesforce systems. This ensures the quality and management of the data being collected from a variety of sources used to build and train AI models,' said Dunlap. On the deal rationale being a market competitiveness strategy, AI data visualisation platform Qlik CEO Mike Capone, said: 'Salesforce has a long track record of pulling customers deeper into its tightly controlled ecosystem, where bundling is the norm, licensing is rigid, and integration with non-Salesforce systems becomes increasingly painful.' 'If you're not all-in on Salesforce, you're now on the outside of a very expensive walled garden. Instead of the flexibility they need, customers should brace for surprise costs and a roadmap designed to serve Salesforce-first use cases.' According to Andy MacMillan, CEO at data analytics platform Alteryx, wider market implications of the acquisition include the growing importance of accurate data as agentic AI becomes more widely adopted. 'However, the approach appears more traditional and IT-centric, an interesting contrast for Salesforce, a company known for enabling business users,' he said. 'Business users and analysts are increasingly looking for no-code, drag-and-drop tools that allow them to apply domain expertise, and work with data across systems, using LLMs to build agents that deliver meaningful outcomes. 'But just as importantly, integrating AI with enterprise data requires a governance model that involves not only IT, but also legal, compliance, privacy, and security teams. "Will Salesforce's $8bn Informatica deal give the company a lead on agentic AI?" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
