World News

Tabcorp hit with claim from Racing Queensland

Madame Tussauds owner Merlin to be bought by Lego family and Blackstone

Madame Tussauds owner Merlin Entertainments is to be acquired by the investment vehicle of Lego's founding family and private equity firm Blackstone Group LP in a deal valuing the company and its debt at nearly £6 billion ($7.6 billion).

The deal values Merlin shares at 455 pence each, giving the firm an enterprise value of £5.905 billion, Merlin said on Friday. The acquiring consortium also includes Canadian pension fund CPPIB.

Amgen Receives Negative CHMP Opinion For EVENITY To Treat Severe Osteoporosis

Amgen (AMGN) and UCB said Friday that the Committee for Medicinal Products for Human Use or CHMP of the European Medicines Agency or EMA has adopted a negative opinion on the Marketing Authorization Application for EVENITY or romosozumab for the treatment of severe osteoporosis.

The companies said they intend to submit a written notice for a re-examination by the CHMP.

“After a fracture, postmenopausal women with osteoporosis are five times more likely to fracture in the subsequent year, and these fractures can be life-changing. Yet these patients often remain undiagnosed and untreated and could benefit from a new treatment option with 12 monthly doses to reduce their risk of a fracture,” said David Reese, executive vice president of Research and Development at Amgen.

The U.S. Food and Drug Administration approved EVENITY in April 2019 for the treatment of osteoporosis in postmenopausal women at high risk for fracture.

EVENITY is also approved in Japan and South Korea for the treatment of osteoporosis for women and men at high risk for fracture and in Canada for the treatment of osteoporosis for postmenopausal women at high risk for fracture.

Volkswagen sets Traton IPO price at EUR27 a share

Volkswagen AG VOW said late Thursday that the offer price for its truck-and-bus unit Traton SE (8TRA.BE) has been set at 27 euros ($30.69) a share ahead of its initial public offering on Friday.

The German car manufacturer said it is placing 57,500,000 existing ordinary bearer shares from its holdings with investors, including 7,500,000 shares to cover over-allotments.

The free float will be 11.5% of Traton’s share capital should the greenshoe option for the over-allotment be fully exercised, Volkswagen said. Gross proceeds from the sale correspond to EUR1.55 billion, it said.

Volkswagen said it will remain a committed majority shareholder in Traton, whose market capitalization amounts to EUR13.5 billion.

Traton shares will be listed on the Frankfurt Stock Exchange and Nasdaq Stockholm.

In Pictures: Humans – and zoo animals – try to keep cool as Europe gripped by heatwave

Trump tells Putin: Don't meddle in US elections

President Donald Trump told Russian President Vladimir Putin on Friday not to meddle in the U.S. elections, appearing to make light of a scandal that had led to a two-year investigation into his campaign's contact with the Kremlin during the 2016 elections.

Asked by a reporter whether he would raise the issue during a bilateral meeting with Putin, Trump said:"Yes, of course I will."

Trump then turned to Putin to give the directive twice while pointing at the Russian leader. Putin maintained a smile as the remark was interpreted for him.

Trump and Putin were heading into a meeting on the sidelines of the G-20 summit in Osaka, Japan. It was the first time the two leaders have had a formal face-to-face meeting since a controversial high-profile summit in Helsinki last July.

Police investigating after body found inside vehicle near Walmart in New Glasgow, N.S.

Police in northern Nova Scotia are investigating the discovery of a body inside a vehicle parked near a Wal-Mart on Thursday.

Police in New Glasgow say the vehicle was left on Westville Road in New Glasgow.

The Medical Examiners Service has been called in.

No other details were released.

‘Don’t Meddle In The Election’: Trump And Putin Are Openly Joking About It Now

President Donald Trump and Russian President Vladimir Putin joked about election meddling on Friday at the G-20 summit in Japan.

As the two sat next to each for a meeting and press opportunity, a reporter asked Trump if he would tell Putin not to meddle in the upcoming U.S. election as Russia had done in 2016.

“Don’t meddle in the election,” Trump said to Putin, then wagged a finger and repeated it. “Don’t meddle in the election.” 

Putin laughed, as did Secretary of State Mike Pompeo, who was seated near Trump. 

Trump infamously defended Russia and Putin from allegations of meddling in the 2016 election during a disastrous joint news conference in Helsinki last year. 

“I hold both countries responsible,” Trump said at the time. “I think that the United States has been foolish. I think we’ve all been foolish.”

Asked to denounce Russian interference, Trump instead said Putin told him Moscow didn’t do it.

“I have President Putin, he just said it’s not Russia,” Trump said. “I will say this. I don’t see any reason why it would be.”

Later he tried to walk back those comments and claimed he meant to say “wouldn’t be.” 

Special counsel Robert Mueller’s report confirmed the assessment of the U.S. intelligence community that Russia meddled in the 2016 presidential election with the intention of helping Trump to win. 

Putin has denied it.

Tabcorp hit with claim from Racing Queensland

Tabcorp shares have taken a hit after the gambling giant was served with a damages claim from Racing Queensland, believed to relate to the calculation of fees under the state's new consumption tax.

Tabcorp said the claim lodged in the Supreme Court of Queensland on Friday afternoon sought damages and other relief under two arrangements between Queensland's racing authority and Tabcorp subsidiary UBET.

Horses race to the finish in a UBET-sponsored race at Brisbane’s Doomben Racecourse last year.Credit:AAP/Albert Perez

Tabcorp said it expected to "defend its position vigorously" but would be undertaking further analysis and review.

"The company is currently reviewing the issues raised and the relevant legal claims made by Racing Queensland and will update the market in due course," Tabcorp said in a release to the ASX.

Shares in the company dipped by 1.34 per cent from $4.49 to a three-week low of $4.43 following the announcement, and closed the day 0.67 per cent lower at $4.45.

Earlier on Friday Tabcorp announced it had hired AusNet chief financial officer Adam Newman to fill the same role.