Ukraine edged closer to a new round of hostilities after the government in Kiev said it’s resuming operations to oust militants from eastern cities and Russia pledged to defend its citizens in the neighboring country.
Emerging-market stocks fell to a one-week low after a Chinese manufacturing gauge signaled a fourth month of contraction in the world’s second-biggest economy. The Micex Index slid amid growing tension in Ukraine.
Ukraine’s president urged security services to resume an offensive to uproot militants in the east as an agreement with Russia to ease tensions neared collapse after a visit by U.S. Vice President Joe Biden to Kiev.
Russia, the world’s biggest natural gas exporter, increased pressure on Ukraine over its $2.2 billion fuel debt as U.S. Vice President Joe Biden voiced support for the smaller country to gain energy independence.
With a trio of transactions, GlaxoSmithKline Plc Chief Executive Officer Andrew Witty is expanding the U.K. pharmaceutical company’s positions in consumer products and vaccines, providing “durability” as the industry faces increased pricing pressure for medicines.
A flurry of billion-dollar deals announced today including a swap of cancer and vaccine drugs between Novartis AG and GlaxoSmithKline Plc will reshape the pharmaceutical industry as it looks to cut costs and may herald another round of mergers and acquisitions.