Page 2 - Us Firms

JPMorgan to boost payments business with US firm Renovite purchase

Renovite's founder and chief executive Viren Rana called JPMorgan's payments division a "natural home" for the company's people and technology

European Union blocks merger of US firms in cancer screening sector

The European Union's anti-trust watchdog announced on Tuesday that it is blocking the buyout of cancer-screening company GRAIL by biotech giant Illumina in a rare move by European regulators against two US companies. Illumina is a major supplier of next-generation sequencing (NGS) systems for genetic and genomic analysis, while GRAIL is a health company developing blood tests to try to catch cancer early. Illumina announced an $8 billion acquisition of GRAIL in 2020. But the European Commission, which polices competition issues, said the buyout would have enabled and incentivised Illumina to foreclose GRAIL's rivals, who are dependent on Illumina's technology, from access to an essential input they need to develop and market their own tests. Commission Executive Vice-President Margrethe Vestager said that it is vital to preserve competition between early cancer detection test developers at this critical stage of development. As Illumina did not put forward remedies that would have .

Facebook falls to no.8 in list of most valuable US firms, shows data

The stock is down 35 per cent this year and is trading at its lowest since July 2020

US firms say not ready to pay digital tax, urge India to defer move

The tax applies on e-commerce transactions on websites such as Amazon.com

Trump threatens new taxes on companies that make goods outside US

Trump said in a Fox Business Network interview that taxation was an "incentive" for companies to return manufacturing to the United States

Covid-19 impact: India looks to lure more than 1,000 US firms out of China

In talks with Medtronic and Abbott on relocating units

One-fifth of US firms in China resume normal ops amid Covid-19: Survey

"This is one of the areas that I think provides some sense of optimism," the chamber's president, Alan Beebe, said at a news conference accompanying the survey's release

Many US firms plan to incrementally invest in India, China: UBS

A quarter of larger companies surveyed expressed an intention to invest in India

Apple, Microsoft, other US firms stashed $1.6 trillion in tax havens: Oxfam

Oxfam said these 50 companies had an effective rate nearly 10 percentage points lower