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Category: 3. Business
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Archer To Build Next Wave of Aviation AI Technology With NVIDIA IGX Thor – Archer Aviation
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ESAs publish joint Guidelines on ESG stress testing
The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today their Joint Guidelines on environmental, social, and governance (ESG) stress testing. These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducting complementary assessments of ESG risk impacts.
The Guidelines set common standards for embedding ESG risks into stress testing methodologies across the EU’s financial system. They provide guidance on designing ESG-inclusive stress tests and outline the necessary organisational and governance arrangements.
The Guidelines are designed to support a consistent, long-term approach to ESG stress testing while allowing flexibility to accommodate future methodological advances and improvements in data availability. Importantly, they do not introduce new requirements for competent authorities to carry out ESG-focused supervisory stress tests.
Next steps
The Guidelines will be subject to a ‘comply or explain’ procedure by the National Competent Authorities and will be translated into all the official languages of the EU in the first quarter of 2026.
Background
The Final Report on the Joint ESAs Guidelines on ESG stress testing follows a public consultation and sets out the final text of the Guidelines, together with an assessment of the comments received during the consultation process. These Guidelines are designed to ensure consistency, long-term perspective, and common standards for ESG risk assessment methodologies in line with Article 100(4) of the Capital Requirements Directive (CRD – Directive 2013/36/EU) and Article 304c (3) of Solvency II (Directive 2009/138/EC), which require the publication of the joint Guidelines by 10 January 2026.
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HSBC’s proposal to privatise Hang Seng Bank approved by Hang Seng Bank shareholders | Media releases
The Proposal Received Approximately 86% Support from Disinterested Shareholders at The Court-Convened Shareholders’ Meeting of Hang Seng Bank And Will Now Proceed Towards Sanction by the Hong Kong High Court
HSBC Holdings plc (“HSBC Group” or “HSBC”), together with The Hongkong and Shanghai Banking Corporation Limited (“HSBC Asia Pacific”), announced that its proposal to privatise Hang Seng Bank Limited (“Hang Seng Bank”) by way of a scheme of arrangement (the “Scheme”) has been approved by relevant shareholders at the court meeting and the general meeting of Hang Seng Bank held earlier today.
The Scheme received strong shareholder support, with approximately 86% of the disinterested votes under the Hong Kong Code on Takeovers and Mergers (“Hong Kong Takeovers Code”) cast in favour of the Scheme at the court meeting of Hang Seng Bank. All requisite approval thresholds required under the Hong Kong Companies Ordinance and the Hong Kong Takeovers Code have been passed.
With these conditions satisfied, a High Court hearing of the petition to sanction the Scheme will be held on 23 January 2026, with the High Court expected to make their decision on the same day. This is the next step in the transaction and is an important step before the Scheme can become effective.
Subject to the High Court’s sanction and the fulfilment (or, if applicable, waiver) of all other conditions set out in the Scheme Document, the Scheme is expected to become effective on 26 January 2026, with the withdrawal of the listing of Hang Seng Bank shares from the Hong Kong Stock Exchange expected to take effect on 27 January 2026.
Upon completion of the proposal:
- Hang Seng Bank will become a wholly-owned subsidiary of HSBC Asia Pacific and therefore a wholly-owned subsidiary of the HSBC Group.
- The listing of Hang Seng Bank shares on the Hong Kong Stock Exchange will be withdrawn in accordance with the Hong Kong Listing Rules.
Commenting on the shareholders’ vote, Georges Elhedery, HSBC Group CEO, said:
“We are pleased with the approval of the proposal and grateful to Hang Seng Bank shareholders for their continued support. The approval reflects strong confidence in Hang Seng Bank’s franchise and in the opportunities that full ownership within the HSBC Group can unlock. We look forward to progressing this proposal and fulfilling the remaining conditions, and will provide further updates in due course.”
For additional information, please refer to the official announcement published on the Hong Kong Stock Exchange https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0108/2026010800798.pdf, or on the dedicated microsite which has been created for the purposes of this Proposal, which can be accessed here.
Media enquiries:
Aman Ullah
+852 3941 1120
aman.ullah@hsbc.com.hkNeil Fleming
+44 (0)7384792051
neil1.fleming@hsbc.comNote to editors:
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of US$3,234bn at 30 September 2025, HSBC is one of the world’s largest banking and financial services organisations.Download the media release: HSBC’s proposal to privatise Hang Seng Bank approved by Hang Seng Bank shareholders
(PDF 150KB)
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Professor Sir Aziz Sheikh: Towards next-generation pharmacovigilance capabilities for the UK
Foreword
For decades, the UK has been recognised for its leadership in pharmacovigilance, underpinned by the MHRA’s Yellow Card scheme, which continues to play a vital role in detecting important safety signals early.
As medicines and medical technologies become more complex, used by increasingly diverse populations, and reach patients at greater speed, there are exciting opportunities to further strengthen our safety monitoring systems.
As outlined by Professor Aziz Sheikh in the latest of our strategy blog series, the COVID-19 pandemic demonstrated the potential of a modern, agile safety system. We rapidly digitised the Yellow Card reporting platform, introduced AI to manage large volumes of reports, and combined enhanced passive surveillance with active monitoring of vaccine safety using national usage data and anonymised electronic health records.
With the launch of the Health Data Research Service on the horizon, we now have the opportunity to build on these achievements and apply the same approach across all medicines and medical products – enhancing the UK’s already world-leading, real-time surveillance capabilities and further safeguarding patient health.
Professor Sir Aziz Sheikh is Pro-Vice-Chancellor and Head of the Nuffield Department of Primary Care Health Sciences at the University of Oxford. A leading global authority on primary care, public health and the use of real-world data, he has played a central role in advancing the UK’s capabilities in drug safety, digital health and evidence-based policy.
Guest Blog: Professor Sir Aziz Sheikh
Our current approach to pharmacovigilance has proven invaluable, but it remains largely passive and could be greatly enhanced. Whilst we’ve moved on from relying on clinicians to tear out a Yellow Card from the back of the British National Formulary (BNF) to sophisticated reporting platforms, the voluntary nature of reporting of cases falls far short of what we should expect, meaning that detecting and assessing safety signals takes longer than we want.– We need a more proactive and systematic effort to identify medication (and related products) associated harm to inform approaches to reducing such risks at the earliest possible opportunity. With our digitised health infrastructure now covering virtually the entire UK population, we have a major opportunity to emerge as a world-leader in next-generation pharmacovigilance capabilities.
The process of digitising the NHS has been long and arduous, but is – thankfully – now nearing completion. This means that the real-world data emerging out of the back-end of these digitised health record systems can now be linked across the entire care continuum using the unique NHS number (or equivalent in the UK’s devolved administrations) providing an unprecedented foundation from which to build next generation pharmacovigilance systems. Such systems would allow, for example, the routine running of analyses to estimate the incidence of known adverse events identified during drug development or licensing processes, identification of sub-populations who may be at particularly high risk of drug adverse events, and running formal epidemiological analyses to investigate potential adverse events reported through the Yellow Card scheme or other routes. An example of such an analysis involved assessing the risk of varenicline, a potent smoking cessation aid, after small-scale analyses suggested that this may increase the risk of cardiovascular and neuropsychiatric risks resulting in a black box warning being issued by the US Food and Drug Administration (FDA) . Our national retrospective cohort study undertaken in the large, representative QRisk database however failed to confirm these heightened risks when compared with other pharmacological smoking cessation thereby supporting the continued use of varenicline.
The FDA Sentinel System is now one the largest electronic health record-based database in the world undertaking federated drug safety analyses on up to 170 million patients from around 70 health systems across the US. Whilst we would not be able to compete with the FDA Sentinel System in terms of numbers, with our UK population of 68 million people we would nonetheless be very well placed to run analyses on a scale that could detect most rare safety signals. Unlike the US, we also have the distinct advantage of being able to run such safety analyses on the total population thus reducing the risk of bias and maximising generalisability.
Once data pipelines have been built, and data curation and analyses processes have been standardised, there is the potential to automate the most common analyses such that the system of searching for drug related adverse events is in effect “always on” working away in the background.
Whilst such aspirations might seem something of a pipe-dream at the moment, there has in recent years been considerable progress on a number of the essential elements, including: systematic use of the NHS number, developments in cloud-based dataset hosting, progress in deterministic and probabilistic data linkage approaches, and proof-of principle established during the COVID-19 pandemic that the UK can deliver high quality vaccine and drug safety work – at pace – including on the entire UK population.
The imminent launch of the Health Data Research Service (HDRS), with substantial political and financial support from the UK Government, offers an unprecedented opportunity to build on the UK’s outstanding strengths in pharmacovigilance to create near real-time whole population capability to support the safe and effective use of drugs to advance human health.
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Danny Mortimer appointed Director General for People
The DHSC announced Danny’s new appointment earlier today.
Danny Mortimer, chief executive of NHS Employers and deputy chief executive of the NHS Confederation, said: “I have worked in the NHS for over 30 years, and look forward to working with colleagues across government and the service to develop our shared ambitions for the people and patients served by the NHS. I look back on my time at NHS Employers and the NHS Confederation with real gratitude for the support of colleagues and our members.”
Matthew Taylor, chief executive of the NHS Confederation, said: “On behalf of our members and staff, I would offer my congratulations to Danny Mortimer on his appointment as the Department of Health and Social Care’s new director general for people”.
Next steps
NHS Employers will advertise for its new chief executive later this month and interim leadership arrangements will be confirmed in due course.
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EBRD extends €13 million to support Kosovo’s Speeex international expansion
- EBRD lends up to €13 million to Speeex for the acquisition of three Swiss companies
- First merger and acquisition in Kosovo to support international expansion of a local company in the service and technology sector
- Project to promote a diverse and inclusive workforce through new strategy and action plan
The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to €13 million to support the international expansion of Speeex, a leading Kosovo-based, tech-enabled business service provider with a strong focus on the Swiss market. This is the first merger and acquisition in Kosovo that supports the international expansion of a local company.
The financing will support Speeex’s acquisition of majority stakes in three Swiss companies – pdc Marketing + Information Technology, Profi Office and Profi Contact – through a newly established Swiss special purpose vehicle. This strategic move will enable Speeex to integrate artificial intelligence into its operations, diversify its already international client base and transfer Swiss best practices to its Kosovan operations, raising service standards above regional norms.
By supporting Speeex’s expansion, the EBRD aims to promote knowledge transfer and job creation in Kosovo, while reinforcing governance and financial discipline. In addition, the investment will strengthen cross-border trade and contribute to the country’s economic development.
Sergiy Maslichenko, EBRD Head of Kosovo, said: “Supporting the growth and internationalisation of dynamic companies like Speeex is at the heart of the EBRD’s mission in Kosovo. This investment will not only help Speeex expand its reach and capabilities, but also foster innovation, create jobs and promote gender equality in the local workforce. We are proud to back a project that strengthens cross-border ties and brings Swiss best practices to Kosovo’s service and technology sector.”
Holger Muent, EBRD Head of Telecoms, Media and Technology (TMT), commented: “We are very proud to expand our long-standing relationship with Speeex, one of the leaders of the tech-enabled services sector in Kosovo. The project will help to further develop Kosovo’s human capital base in the sector and strengthen its international competitiveness.”
Fikret Murati, founder and Chief Executive Officer of Speeex, said: “We are deeply grateful for our cooperation with the EBRD and for its support in enabling our international expansion into Switzerland. This marks the first-ever Kosovan-led acquisition in the service and technology sector, and we are proud to be setting this milestone. Beyond strategic growth, this partnership will drive innovation by strengthening cross-border knowledge exchange and advancing digital capabilities. Most importantly, it will create hundreds of new job opportunities for youngsters in both Kosovo and Switzerland, generating long-term social and economic impact. Hence, it will enhance Kosovo’s European competitiveness in the tech-enabled services sector.”
Founded in 2016, Speeex employs more than 1,600 staff across Kosovo and exports over 90 per cent of its services to Austria, Germany and Switzerland. The new investment will further strengthen Speeex’s position as a high-performing local enterprise scaling internationally.
The project aligns with the EBRD’s strategic priorities for Kosovo and the TMT sector, supporting the growth of information technology (IT) services companies and accelerating the digital transition. It also contains a dedicated focus on improving opportunities for women and promoting gender inclusion in the workforce.
The EBRD is a leading institutional investor in Kosovo, having invested €840 million through 138 projects to date.
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Delay discounting correlates with depression but does not predict relapse after antidepressant discontinuation
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Completion of divestment of first major tranche in Bajaj Joint Ventures | Allianz – Allianz.com
- Completion of divestment of first major tranche in Bajaj Joint Ventures | Allianz Allianz.com
- Bajaj Finserv Increases Stake in Insurance Subsidiaries, Joint Venture Ends InvestyWise |
- Bajaj Finserv shares in focus as firm completes acquisition of 23% stake in insurance companies from Allianz SE Upstox
- Allianz Sells Indian Holdings for 2.1 Billion Euros MarketScreener
- Bajaj Finserv Ends Insurance JV With Allianz Group In Rs 21,400-Crore Deal NDTV Profit
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Vanda Pharmaceuticals Announces Receipt of FDA Decision Letter on HETLIOZ® Supplemental New Drug Application for Jet Lag Disorder
WASHINGTON, Jan. 8, 2026 /PRNewswire/ — Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced that it has received a decision letter from the U.S. Food and Drug Administration’s (FDA) Center for Drug Evaluation and Research (CDER) concluding that the supplemental New Drug Application (sNDA) for HETLIOZ® (tasimelteon) for the treatment of jet lag disorder cannot be approved in its current form. This letter stems from CDER’s agreed re-review of the jet lag application under the October 1 collaborative framework agreement.
The FDA acknowledged positive efficacy from Vanda’s controlled clinical trials, however, the FDA concluded that these data do not provide substantial evidence of effectiveness for jet lag disorder, primarily on the grounds that controlled phase advance protocols (5-hour and 8-hour bedtime shifts) are not sufficiently analogous to actual jet travel, which according to the FDA involves additional factors such as reduced oxygen pressure, physical constraints, noise, and lighting changes.
Vanda respectfully disagrees with this interpretation. Phase advance models are widely accepted in circadian rhythm research as valid and reliable surrogates for simulating the core circadian misalignment underlying eastward jet lag—the primary driver of the disorder’s hallmark symptoms per ICSD-3 criteria. These models reproducibly induce the essential features of jet lag without the confounders of variable travel conditions which are unrelated to jet lag. The convergent evidence from Vanda’s studies including simulated and actual transatlantic travel demonstrates tasimelteon’s meaningful benefits on sleep duration, latency to persistent sleep, and next-day alertness.
Tasimelteon’s safety profile is also well-established, with predominantly mild adverse events and a market experience of over 10 years in chronic approved indications. Vanda maintains that the submitted dataset meets the statutory standard for substantial evidence of effectiveness on clinically relevant endpoints, for jet lag disorder.
Procedural Status
As previously announced, in August 2025 the D.C. Circuit set aside a prior FDA refusal to approve HETLIOZ® for jet lag disorder, describing Vanda’s evidence as “specific, reasoned, and rooted in evidence” and the FDA’s prior review as “cursory,” while noting statistically significant improvements on primary endpoints across trials.
Following that ruling, Vanda and the FDA entered a collaborative framework agreement in October 2025, under which the FDA committed to an expedited re-review of the sNDA by January 7, 2026, including consideration of narrowed, sleep-focused indications.
Vanda appreciates the FDA’s engagement but believes the current decision does not fully reflect the collaborative spirit or address the Court’s concerns regarding meaningful engagement with the evidence. Vanda remains committed to working constructively with the FDA while pursuing all appropriate avenues to advance approval of HETLIOZ® for jet lag disorder and make this important therapy available to travelers.
About Vanda Pharmaceuticals Inc.
Vanda is a leading global biopharmaceutical company focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients. For more on Vanda Pharmaceuticals Inc., please visit www.vandapharma.com and follow us on X @vandapharma.
About HETLIOZ®
HETLIOZ® is a melatonin‑receptor agonist, approved in the United States for the treatment of Non‑24‑Hour Sleep‑Wake Disorder and nighttime sleep disturbances associated with Smith‑Magenis Syndrome. For full U.S. Prescribing Information for HETLIOZ®, including indications and Important Safety Information, visit www.hetlioz.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Various statements in this press release, including, but not limited to statements regarding Vanda’s commitment to working with the FDA while pursuing appropriate avenues to advance approval of HETLIOZ® in jet lag disorder, and the potential commercial availability of HETLIOZ® for the treatment of jet lag disorder are “forward-looking statements” under the securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are based upon current expectations and assumptions that involve risks, changes in circumstances and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Vanda’s forward-looking statements include, among others, the FDA’s willingness to work with Vanda and meaningfully engage with the evidence, the results of Vanda’s efforts to advance and obtain FDA approval of HETLIOZ® in jet lag disorder, and Vanda’s ability to successfully execute a commercial launch of HETLIOZ® for the treatment of jet lag disorder if approved. Therefore, no assurance can be given that the results or developments anticipated by Vanda will be realized, or even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Forward-looking statements in this press release should be evaluated together with the various risks and uncertainties that affect Vanda’s business and market, particularly those identified in the “Cautionary Note Regarding Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Vanda’s most recent Annual Report on Form 10-K, as updated by Vanda’s subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov.
All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this press release is provided only as of the date of this press release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Corporate Contact:
Kevin Moran
Senior Vice President, Chief Financial Officer and Treasurer
Vanda Pharmaceuticals Inc.
202-734-3400
[email protected]Jim Golden / Jack Kelleher / Dan Moore
Collected Strategies
[email protected]SOURCE Vanda Pharmaceuticals Inc.
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North Solihull looks forward to the next Solihull Apprenticeship and Pathways Show
Apprenticeships and post-16 pathways such as BTEC and T Levels will be on display at the show later this month for young people to learn about local opportunities.
With over 40 employers and training providers signed up for the show, this event enables young people to learn about alternative routes after GCSE’s. They can speak to exhibitors and current apprentices who will be able to share their first-hand experience. The first hour is a quiet hour for young people with additional needs to find out more about Inclusive programmes such as Supported Internships.
Visitors will have the chance to speak to employers and training providers from hospitality, manufacturing, construction, engineering and public sectors. Exhibitors include JLR, National Gas, Severn Trent, the NEC Group, Everyone Active, Solihull College & University Centre, Reflections Training Academy, Creative Alliance and Solihull Council. It will take place at the North Solihull Sports Centre on Wednesday 28 January 2026 from 2:30pm to 7:00pm.
Councillor Heather Delaney, Portfolio Holder for Economy, Business & Skills, said: “The Solihull Apprenticeship and Pathways Show has always been well attended. We are excited for new exhibitors joining us this time such as National Gas and British Academy of Jewellery. We are always working to expand our network and reach so that visitors can learn about opportunities from more industries. Speaking directly with employers and current apprentices is the best way for young people to find out if a training programme or apprenticeship is for them.
“At the beginning of the year, it’s usually the time that young people start to think about what they’ll do after GCSE’s. It can be daunting for some, so we hope that an event like this would give young people the chance to get all the information they need to explore all the post-16 pathways available locally. Ultimately, it will help them take the best next steps. I’d encourage all young people, especially those in Year 10-13, to sign up for the show.”
Organised by Solihull Careers Hub which is part of the Council’s Employment and Skills Team, the Solihull Apprenticeship and Pathways Show is free to attend and it is advised to book in advance. Free parking is available on site. For more information or sign up, please visit this webpage.
Editor notes:
- The Solihull Apprenticeship and Pathways Show is funded by the UK Government through the UK Shared Prosperity Fund, West Midlands Combined Authority, The Careers and Enterprise Company and Solihull Metropolitan Borough Council.
- Solihull Careers Hub is funded by The Careers and Enterprise Company and Solihull Metropolitan Borough Council.
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