Company briefs: Futu
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Futu
Futu Singapore, which operates the brokerage app moomoo, has moved to cap its settlement fee of US stocks and exchange-traded fund trades after a similar move by rival Tiger Brokers last Thursday.
The company said it had capped the settlement fee at 1 per cent of the transaction amount per order with effect from Monday.
The fee is charged at 0.3 US cent per share.
This is lower than Tiger Brokers' cap of 7 per cent of the trade value that was announced previously.
THE BUSINESS TIMES
Ocado Group
Ocado Group shares fell after the British online grocer cut the sales growth target for its joint venture with Marks & Spencer Group, citing the country's cost-of-living squeeze.
Ocado Retail now expects growth for the 2022 fiscal year in the low single digits rather than around 10 per cent guided previously, according to a statement yesterday.
With shoppers returning to stores and the higher cost of energy and other staples squeezing spending power, performance has eased.
BLOOMBERG
Pfizer
Pfizer plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, one of the most comprehensive and ambitious drug-access programmes announced by a large pharmaceutical manufacturer.
The initiative will start in five African countries with 23 drugs for cancer, rare illnesses, inflammatory conditions and infectious diseases.
It will eventually include all of the New York-based company's future therapies or vaccines. The drugs will be sold at the cost of manufacturing, Pfizer said.
BLOOMBERG