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Jul.20 -- Frans van Houten, chief executive officer at Koninklijke Philips NV, discusses his outlook for business in the covid-19 era, earnings in the second half and ventilator production. He speaks on “Bloomberg Daybreak: Europe.”...
(Bloomberg) -- Deep in the electric-vehicle industry’s supply chain is a little-known Japanese manufacturer that makes a seemingly mundane, but essential, device: coil-winding machines.If the motor is the heart of an EV, then coils in turn are the heart of the electric motor. Odawara Engineering Co., founded 70 years ago as a supplier for appliance makers, is an expert in the making the dense loops of wire that go into those motors. Tesla Inc., manufacturer of the Model S and Model 3 sedans and most recently the world’s most-valuable automaker, is one of its biggest customers.Although the coronavirus pandemic has depressed global auto sales, BloombergNEF predicts that economies will speed up adoption of EVs as some countries choose to bolster funding for low-emission cars and infrastructure. The global market for coil-winding machines is projected to expand at 10% annually and will reach $1.3 billion in 2024, according to Global Info Research.“We...
(Bloomberg) -- Retail investors riding cannabis and video games are loosening the stranglehold of institutions on Europe’s $1 trillion exchange-traded fund market.In a tell-tale sign of rising retail activity, exchange trading volumes of so-called thematic ETFs have more than doubled this year from the same period in 2019, according to Bloomberg Intelligence. About 9.4 billion euros ($10.8 billion) of the equity products, which track investing themes like marijuana, robotics and AI, have been bought and sold.Any sign of increased engagement by smaller investors will surely be welcome in Europe, which has struggled for years to develop a retail customer base. Morningstar estimates that more than 80% of ETF assets in the region are in the hands of institutions like private banks, hedge funds and pension funds, who typically trade over-the-counter.“Because retail is still a pretty small part of the market there’s a push by issuers to capture that,” said Athanasios Psarofagis,...
Pfizer Inc (PFE) and BioNTech SE (BNTX) have announced an agreement with the UK to supply 30 million doses of their BNT162 mRNA-based coronavirus vaccine candidate, currently in development. The agreement is subject to clinical success and regulatory approval for the vaccine.Financial details of the agreement were not disclosed, but the terms were based on the timing of delivery and the volume of doses.“We’re harnessing our scientific expertise, and we’re marshaling our manufacturing resources to ensure that the vaccine would be available as soon as possible,” said Albert Bourla, CEO of Pfizer. “This agreement is a testament to our shared goal to have millions of doses of a vaccine against COVID-19 available before the end of the year.”The BNT162 program is based on BioNTech’s proprietary mRNA technology and supported by Pfizer’s global vaccine development and manufacturing capabilities.The Pfizer/BioNTech vaccine development program is evaluating at least four experimental vaccines, each of which represents...
Britain has signed deals to secure 90 million doses of two possible COVID-19 vaccines from an alliance of Pfizer Inc and BioNTech, and French group Valneva, the business ministry said on Monday. Britain secured 30 million doses of the experimental BioNTech/Pfizer vaccine, and a deal in principle for 60 million doses of the Valneva vaccine, with an option of 40 million more doses if it was proven to be safe, effective and suitable, the ministry said....
Britain has signed deals to secure 90 million doses of two possible COVID-19 vaccines from the Pfizer Inc and BioNTech alliance and French group Valneva, the business ministry said on Monday. Britain had secured 30 million doses of the experimental BioNTech/Pfizer vaccine, and a deal in principle for 60 million doses of the Valneva vaccine, with an option of 40 million more doses if it was proven to be safe, effective and suitable, the ministry said....
