January 8, 2019 / 1:18 AM / 5 months ago

PRESS DIGEST- Financial Times - Jan 8

Jan 8 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Daimler speeds up self-driving trucking technology

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Eli Lilly to buy Loxo Oncology for $8 bln in cancer drug push

on.ft.com/2REuCK8

SoftBank to slash planned WeWork investment

on.ft.com/2RynwXU

Overview

Mercedes-Benz parent Daimler said it would spend 500 million euros ($573.70 million) and create 200 new jobs to accelerate autonomous technology for trucking.

Eli Lilly and Co said it had agreed to buy smaller rival Loxo Oncology Inc for about $8 billion, the latest in a series of multibillion-dollar pharmaceutical deals as traditional drugmakers buttress cancer treatment portfolios with novel therapies that have been proven effective in treating the disease.

Japan’s SoftBank Group Corp has radically scaled back plans for fresh investment in WeWork, the lossmaking shared-office provider. SoftBank is in discussions to inject $2 billion into WeWork this year, according to two people briefed on the deal, a much lower amount than the $16 billion that had been discussed towards the end of last year. ($1 = 0.8715 euros) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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