Setback

Eli Lilly's Kisunla Misses Out on EU Approval for Alzheimer's Treatment

4 days ago

In a significant setback for Eli Lilly and Company, the European Medicines Agency (EMA) has decided not to recommend the marketing authorization for Kisunla, an Alzheimer’s treatment developed by the pharmaceutical giant. This decision marks a notable blow to Lilly's ambitions within the neurodegenerative disease space, as Kisunla was being heralded as a promising solution for individuals battling Alzheimer’s.

Carlyle and KKR Offload $1 Billion in Asset-Backed Securities Linked to Discover Financial Loans

12 days ago

In a significant financial maneuver, leading private equity firms Carlyle Group Inc. and KKR & Co. have announced the sale of $1 billion in asset-backed securities (ABS) associated with a loan portfolio held by Discover Financial Services. This deal represents a strategic move amidst evolving market conditions and highlights the ongoing appetite for securitization in the financial sector.

Corporate Feud Culminates: Fredriksen Loses Decade-Long Oil Trading Lawsuit

2 months ago

In a significant legal setback for billionaire shipping magnate John Fredriksen, a New York court has ruled against him in a contentious oil trading dispute that has spanned nearly ten years. The case epitomizes the complexities and high stakes involved in the world of global oil trade and trading practices.

Impax Asset Management Faces Major Setback with $6 Billion Mandate Loss

2 months ago

In a surprising turn of events, Impax Asset Management has announced the unexpected loss of a significant $6 billion investment mandate, a development marked as a significant setback by the company’s CEO, Ian Simm. This substantial financial shift signals a challenging phase for the asset management firm, which has built its reputation on sustainable investment strategies.

Spanish Prime Minister Faces Setback as Catalan Party Ceases Negotiations

2 months ago

In a significant political development in Spain, Prime Minister Pedro Sánchez has suffered a major blow as the Catalan political party, Esquerra Republicana de Catalunya (ERC), has announced it is halting negotiations aimed at securing support for Sánchez's administration. This abrupt end to discussions comes in the wake of deepening tensions surrounding Catalonia's autonomy and the Spanish government's handling of numerous socioeconomic issues.

Saipem's French Wind Project Encounters Significant Cost Overruns Due to Drilling Delays

3 months ago

In a challenging turn of events for the energy and engineering firm Saipem, the company is grappling with a substantial increase in costs associated with its wind power project off the coast of France. The difficulties stem largely from unforeseen drilling setbacks that have complicated operations, pushing the project's financial estimates far beyond initial projections.

Tesla Secures $783 Million Through Prime Auto Lease-Backed Debt Offering

6 months ago

In a significant financial maneuver, Tesla has successfully raised $783 million by issuing a new tranche of secured notes backed by auto leases. This move marks a notable step in the company's ongoing strategy to diversify its funding sources while taking advantage of the growing demand for its electric vehicles (EVs).