Globes (Rishon LeZion, Israel)

Publisher

Latest documents

• SolarEdge becomes short players' favorite

  The share price of solar energy technology company SolarEdge (Nasdaq: SEDG), which was at around $120 a year ago and at its peak three years ago was close to $370, is currently at just $19.5, giving the company a market cap of $1.1 billion (95% down from the peak). This follows a slight recovery from the low to which SolarEdge sank last month of under $18, a symbolic level, since that was the price at which the company made its IPO in 2015.

• Teva shareholder sues after $450m US settlement

  At the end of last week, Teva Pharmaceuticals Industries (TASE: TEVA; NYSE: TEVA) announced that it had reached a settlement with the US Department of Justice and would pay penalties totaling $450 million, payable over six years, without admitting wrongdoing, to end lawsuits brought against it by the US authorities. These alleged price fixing, and illegal payments of kickbacks via charities to patients to cover their co-payments for purchases of Teva's multiple sclerosis treatment Copaxone by Medicare.

• Teva settles further price-fixing lawsuits in the US

  Teva Pharmaceutical Industries (TASE: TEVA; NYSE: TEVA) has settled another lawsuit alleging price fixing in the US. Teva will pay $450 million in settlements approved by the court in the US, one of $425 million and the other of $25 million, without admitting wrongdoing. Payment of the settlement amounts will be spread over six years.

• Tel Aviv court orders OpenWeb to freeze ousting of CEO

  Israeli open engagement platform unicorn OpenWeb CEO and cofounder Nadav Shoval has won a temporary victory in the Tel Aviv District Economic Court, which has ordered the suspension of his dismissal until a court discussion on the matter by both parties at the end of the month. Shoval is in dispute with several investors led by Insight Partners and Georgian.

• Rents in Tel Aviv resume rise

  The average monthly rent for an apartment in Tel Aviv in the second quarter of 2024 was NIS 7,000, up 4.9% from the second quarter of 2023, the Central Bureau of Statistics reports.

• Big investors leaving Israel's real estate market

  Investors who buy large numbers of apartments are leaving Israel's real estate market, according to the August 2024 survey by the Ministry of Finance chief economist. The survey found that while until recently these big investors completed most of the deals by investors, in August they comprised 33% of all investors who bought apartments.

• Home sales show signs of slackening

  Is the pace of the recovery in Israel's residential real estate market slackening? Figures from the Central Bureau of Statistics show a decline in home purchases at the end of the summer, but no firm conclusions can be drawn yet, and it may be that developments in the war had an effect.

• Over half Israelis' savings flow to S&P 500 in 2024

  Until three years ago, the S&P 500 Index, which comprises the largest companies in the US, was the province of expert investors in Israel. Barely 1% of the total amount of money invested for the long term was channeled to the US index, NIS 6 billion in total. A great deal has changed since then.

• EU cancels recommendation not to fly to Israel

  The European Union Aviation Safety Agency (EASA) has canceled its recommendation not to fly to Israel. This is a major step in the resumption of flights to Ben Gurion airport by many European airlines in the coming days.

• Aptar Pharma buys Israeli drug delivery co SipNose

  US drug delivery company Aptar Pharma has announced the acquisition of the device technology assets of Israeli company SipNose Nasal Delivery Systems. No financial details about the deal were disclosed but sources familiar with the matter have told "Globes" that the acquisition was for about $12.5 million.

Featured documents

• Export controls strangling Israel's cyberattack industry

  In the past few days a small, little-known Israeli cyberattack company called Nemesis shut down. The company, which tried to compete with NSO Group with spyware that takes control of smartphones, was never exposed by the media, and did not even have a company website but its closure marks for many...

• Femtech seeks to provide alternatives to the pill

  The invention of the pill was probably the biggest earthquake undergone by feminism: a cheap and available means that allows billions of women worldwide to manage their future, their family and their livelihood. It was undoubtedly an event that makes it easy to see how life has changed before and...

• Tech giants battle for data center real estate in Israel

  Five years ago, two major cloud computing players, Google and Amazon, were offered the possibility of hosting Israeli data centers. "The Israeli market is too small," their local managers were told. In retrospect, that was a big mistake. Today, the two giants are in an especially tight race to...

• Israel issues world's first digital bond

  The Tel Aviv Stock Exchange (TASE: TASE), the office of the Accountant General at the Israeli Ministry of Finance, and three leading tech companies in the field (Fireblocks, VMWare and BlockFold) last week completed the proof of concept (PoC) phase for Project Eden, issuing a government digital...

• Will a small Galilee factory deliver Nvidia's superconductor?

  Even at a distance, the Simtal Nano-Coatings factory stands out from its surroundings in the dusty Tsiporit industrial park in the Upper Galilee. The facade is mauve, and the color also dominates inside, where dozens of women work delicately alongside orderly rows of electronic boards, peering at...

• Israeli insurtech co Vesttoo raises $80m at $1b valuation

  Israeli insurtech company Vesttoo has announced the completion of an $80 million Series C financing round at a company valuation of $1 billion (after money). The financing round was led by Mouro Capital with the participation of Gramercy Ventures, Black River Ventures (BRV) and Hanaco Ventures....

• Israel's defense undone by reliance on technology

  The Berlin Wall was built in 1961 as a standard wire and concrete fence to make it difficult for East German residents to escape to freedom in the West. By the end of the 1970s, its fourth generation already included a 127 km long electrified fence, a strip of land made of sharp metal nails, a...

• Kibbutzim successfully embrace the capitalist spirit

  The last decade has probably been the best the kibbutzim have ever had - at least financially....

• Not everyone's happy about Israel's newest med school

  When Reichman University initiated the establishment of Israel's first private medical school, it was, as its website put it, "with the aim of helping to solve the existing shortage, and to immediately increase in the number of medical students in Israel." The new school, according to Reichman's...

• Could the Palestinian Authority control Gaza?

  About two years ago, Palestinian Authority (PA) President, Mahmoud Abbas (Abu Mazen) embarked on a judicial reform of his own, one that would not put the reform in Hungary or Poland to shame. Unlike those countries, or the reform the Israeli government tried to pass at the beginning of the year,...