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Times
4 days ago
- Business
- Times
Hvivo blames US trade disruption for halving in share price
Uncertainty caused by trade disruption in the United States and an adverse funding environment has resulted in the cancellation of a big contract for Hvivo, sending shares in the tester of infectious and respiratory disease products sharply lower. The Aim-listed group said that one of its clients had cancelled a 'significant' contract and another had postponed a smaller one, which Hvivo believes was a result of 'current uncertainties in the pharmaceuticals industry', particularly in the US. This had led to an increase in cancellations and delays of clinical trials across the industry, the company said, also citing a 'continued depressed biotech financing market'. Hvivo infects volunteers with safe doses of virus agents then quarantines them before testing the efficacy of vaccines and antivirals in so-called human challenge trials. The company, formerly known as Open Orphan and once a large holding in Woodford Capital's Equity Income Fund, provides clinical development services to clients that include a number of the world's biggest biopharmaceutical groups, such as Pfizer. It said it had £47 million of revenue contracted for the present financial year, including cancellation and postponement fees, and anticipated further contract wins over the course of the year. The company warned, however, that if these contract wins did not materialise then it was likely that the group would fall to a mid-single-digit operating loss for the year. All but one of the contacts for 2025 have started, Hvivo said, giving management confidence that 'there is a low risk of any further cancellations'. Shares in Hvivo more than halved in value during morning trading before paring some losses. They ended the day down 7½p, or 46.3 per cent, at 8¾p. • Biotech boss takes clinical approach to acquiring unloved assets Dr Yamin 'Mo' Khan, chief executive at Hvivo, said: 'Whilst we are disappointed to have received notification from these clients due to matters beyond our control, we still remain confident in the continued growth of human clinical trials and the overall prospects of Hvivo as we also continue to diversify our revenue streams.' Analysts at Shore Capital said concerns of a slowdown in the contract research organisation sector had also been flagged by Hvivo's larger peers, who have cited more cautious spending and clients delaying their decision making. 'Some of the negative narrative towards vaccines from Trump appointees at the US health department and the US Food and Drug Administration has clearly been an added cause for concern,' Sean Conroy, an analyst at Shore Capital, said. 'We would still caution against forming any endemic view towards vaccine development and the longer-term prospects of the human clinical trial business.'
Forbes
07-05-2025
- Business
- Forbes
Fed Officials Fail To Cut Rates After U.S. Economy Contracts In Q1
Fed officials left the benchmark funds rate intact today. (Photo by) Getty Images Federal Reserve officials left the highly visible benchmark federal funds rate unchanged during this month's policy meeting even after government data showed the U.S. economy contracted during the first quarter. The feds fund rate, which has significant implications for broader borrowing costs, has generated countless headlines since Federal Open Market Committee members started hiking it in 2022. Further, it could have significant implications for risk assets, for example stocks and many cryptocurrencies like bitcoin, which do not pay yields like fixed-income securities. After boosting rates several times, the target range for the fed funds rate reached 525 to 550 basis points in 2023, its highest level in more than 20 years. Since then, FOMC officials have reined in the fed funds rate, decreasing it to a range of 425 to 450 basis points in December 2024 and leaving it unchanged since then. These government officials spoke to recent economic developments this afternoon, specifying in a statement that 'Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace.' 'The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid,' the officials continued. 'Inflation remains somewhat elevated.' They offered this guidance after government data provided by the U.S. Bureau of Economic Analysis indicated that the nation's real GDP shrank 0.3% during the first three months of 2025. The U.S. economy grew 2.4% in the final three months of 2024, so the outcome of the latest BEA report did not signify the start of a recession. The fed funds rate has generated significant visibility because of the implications it has for a wide range of lending rates, including those tied to mortgages, credit cards and auto loans. It can also impact investment behavior by bolstering yields and therefore giving market participants additional incentive to seek fixed-income securities, for example bonds, that make regular payments to their owners. This makes risk assets, for example cryptocurrencies like bitcoin that do not make such payments, less attractive in comparison, potentially sapping demand and placing downward pressure on their prices.
Motor 1
06-05-2025
- Automotive
- Motor 1
The New Audi A6 Plug-In Hybrid Has a Decent Electric Range
The new A6 hasn't even gone on sale in the United States yet, but Audi is already expanding the lineup in Europe. Both the sedan and wagon are now offered as plug-in hybrids based on a four-cylinder engine. A major upgrade over the previous PHEV version is the battery, which now has a net capacity of 20.7 kWh, or about 45 percent more than before. That translates to a solid electric range, potentially enough to handle daily driving without using the engine. These upscale PHEVs can travel up to 66 miles (106 kilometers) on a single charge in the combined cycle before the combustion engine kicks in. Stick with the slightly lighter sedan, and Audi says you can get up to 69 miles (111 kilometers) in the city. The quickest way to deplete the battery, mounted under the rear section, is to drive on the Autobahn at the electronically limited 87 mph (140 km/h) in EV mode. With the engine running, the plug-in hybrid A6 can hit 155 mph (250 km/h). Photo by: Audi Two versions are available: one with 295 hp and another with 362 hp. If those figures sound familiar, it's because the new A5 plug-in hybrid has identical outputs. The two models are closely related, both riding on the Premium Platform Combustion. Logic tells us that PPC could also underpin Porsche's upcoming gas-powered Macan successor , which is expected later this decade. The base A6 PHEV makes 332 lb-ft (450 Nm) of torque and does 0–62 mph (100 km/h) in six seconds flat. Step up to the more powerful version and get 369 lb-ft (500 Nm) and a sprint time of just 5.3 seconds. If you want something quicker, a V-6 3.0-liter mild-hybrid model does the job in 4.7 seconds. Of course, the upcoming S6 and RS6 will be even faster. The plug-in hybrid is the wise choice for those prioritizing efficiency and want to move on from diesel. Audi has increased AC charging capacity to 11 kW, enabling a full charge in just two and a half hours. Both PHEVs have rear-wheel steering, a dual-clutch automatic transmission, and Quattro all-wheel drive. The 141-horsepower electric motor is integrated into the seven-speed S Tronic gearbox's housing. Audi says full torque is available 'at close to idle speed,' helping these models get off the line effortlessly. 2026 Audi A6 plug-in hybrid 31 Source: Audi The electrified A6 is significantly quieter than its predecessor, thanks to a 30 percent increase in sound insulation. The same improvements apply to conventionally powered versions, which now get acoustic glazing on the rear-side windows and tighter door and window seals. Additional noise reduction comes from foam rings in the tires on cars equipped with 19-inch wheels and larger. Audi also reworked the engine and transmission mount bushings and optimized the shape of the gear teeth to reduce mechanical noise. In Germany, the A6 Sedan E-Hybrid starts at €65,800 for the base model and from €68,300 for the more powerful version. The more practical A6 Avant E-Hybrid begins at €75,050 and €77,550, respectively. That price gap between the two power levels also reflects added standard equipment like S Line trim inside and out, larger wheels, a sport suspension, and red brake calipers. Deliveries in Europe begin this summer. Keep Up With Audi: The New Audi RS5 Sounds Pretty Darn Good Audi Will Launch an Entry-Level Electric Car in 2026 Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Audi Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
