San Francisco Federal Reserve President John Williams believes that unemployment could fall down to as little as 3.7% in 2018. The Federal Reserve is slated to raise interest rates at least three times this year due to a strong economy that may get a boost from tax cuts.
Pharmaceutical and tech companies made waves over the weekend as Celgene Corporation (NASDAQ:CELG), LG Display Co Ltd. (ADR) (NYSE:LPL) and Takata Corporation (OTCMKTS:TKTDQ) all made big announcements.
Here are the moves these companies are making in the near future:
Celgene announced that the company is nearing the acquisition of another biopharmaceutical company.
The Summit, New Jersey-based company is in advanced talks to buy Biomedicines Inc., according to sources familiar with the matter. The move would help expand Celgene’s footprint in the oncology realm.
The agreement could be completed and announced as early as Monday, according to the sources who chose to remain anonymous to protect the privacy of these discussions.
However, there’s still the possibility that the deal could face a lengthy delay, or even fall apart. According to The Wall Street Journal, Celgene could shell out as much $7 billion over time for Biomedicines.
LG Display Co
LG Display is making waves in the world of flat-screen televisions.
The company is reportedly releasing a big-screen OLED TV that is rollable, potentially defining what the future of TVs could look like. The 65-inch 4K OLED display was unveiled at CES.
The idea is to have an LG TV that is flexible enough to spin up to a tube, helping to protect the TV when it’s not in use. The screen moves down to a little box the size of a sound bar with the technology.
The company is also considering taking this concept a step further and making the display portable. The move is possible thanks to the technology that LG is known for, which is comprised of paper-thin organic light emitting diode display (OLED).
LPL shares have risen 3.7% over the last three months.
Takata announced the recall of 3.3 million airbags due to safety concerns.
The Japanese air bag maker said that the frontal devices may have faulty inflators with chemical ammonium nitrate to create a small explosion that fill the airbags quickly in a crash.
However, the chemical can deteriorate when it faces high humidity and temperatures that could burn the chemical too fast, blowing apart a metal canister within the airbags. Such a flaw could shoot hot shrapnel into drivers and passengers.
Takata announced the moved in its website, which affects the airbags in certain 2009, 2010 and 2013 vehicles made by the likes of Honda, Audi, BMW, Mazda, Nissan, Subaru and several others.
The flaw has resulted in at least 20 deaths around the world, as well as more than 180 injuries.