Latest News

Boeing says timing of 737 MAX return in hands of regulators

reuters.com - Business News - 10 hours 14 min ago
Boeing said on Saturday the U.S. Federal Aviation Administration and other global regulators would decide the timing of the return to service of its 737 MAX, which has been grounded since March in the wake of two fatal crashes.
Categories: Latest News

U.S. to extend license for its companies to continue business with Huawei: sources

reuters.com - Business News - 16 hours 49 min ago
The Trump administration is set to issue a two-week extension of a license allowing U.S. companies to continue doing business with China's Huawei Technologies Co Ltd [HWT.UL], two sources familiar with the deliberations said.
Categories: Latest News

U.S. to extend license allowing its companies to continue business with Huawei: New York Times

reuters.com - Business News - 17 hours 57 min ago
The United States is set to extend a license allowing U.S. companies to continue doing business with Chinese technology company Huawei Technologies Co Ltd, the New York Times reported https://nyti.ms/2OcpWYo on Friday, citing people familiar with the deliberations.
Categories: Latest News

Microsoft to probe work of Israeli facial recognition startup it funded

reuters.com - Business News - 18 hours 26 min ago
Microsoft Corp has hired former U.S. Attorney General Eric Holder to investigate whether the use of facial recognition technology developed by an Israeli startup it funded complies with its ethics principles, the company said on Friday.
Categories: Latest News

Ford's UAW members vote to ratify new four-year contract

reuters.com - Business News - 19 hours 10 min ago
The United Auto Workers union said on Friday that rank-and-file members at Ford Motor Co have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker.
Categories: Latest News

U.S. to extend license allowing its cos to continue business with Huawei: NYT

reuters.com - Business News - 19 hours 42 min ago
The United States is set to extend a license allowing U.S. companies to continue doing business with Chinese technology company Huawei Technologies Co Ltd, the New York Times reported https://nyti.ms/2OcpWYo on Friday, citing people familiar with the deliberations.
Categories: Latest News

U.S. and China have significant differences ahead of trade talks Friday night

reuters.com - Business News - 21 hours 14 min ago
Top U.S. and Chinese negotiators are seeking to narrow differences on an initial trade agreement during a Friday evening phone call, but remain split on key issues.
Categories: Latest News

U.S. charges another ex-JPMorgan executive with alleged market manipulation

reuters.com - Business News - 21 hours 17 min ago
The Department of Justice has charged another former JPMorgan Chase & Co executive with alleged racketeering and manipulating precious metals prices between 2008 and 2016, the latest in a string of similar prosecutions.
Categories: Latest News

U.S. FAA regulator head tells team to 'take whatever time needed' on 737 MAX

reuters.com - Business News - 21 hours 28 min ago
The head of the U.S. Federal Aviation Administration has told his team to "take whatever time is needed" in their review of Boeing Co's 737 MAX, according to a Nov. 14 memo and video message reviewed by Reuters.
Categories: Latest News

FTC makes Celgene's Otezla divestiture official condition for Bristol-Myers acquisition

MarketWatch.com - MarketPulse - 22 hours 15 min ago

Celgene Corp. is required to divest its most popular psoriasis treatment in order to be acquired by Bristol-Myers Squibb Co. , the Federal Trade Commission announced Friday. For Bristol-Myers to close on its $74 billion acquisition, Celgene will have to sell its drug Otezla for $13.4 billion to Amgen Inc. , the FTC said. "The Commission has ordered BMS to divest Otezla to preserve BMS's incentive to continue developing its own oral product for treating moderate-to-severe psoriasis," said FTC Chairman Joseph Simons in a statement. "The antitrust laws protect not only competition today, but competition in the future, especially when it comes to the development of new treatments for chronic conditions." The companies already anticipated the FTC's concerns and agreed to the deal back in August.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Categories: Latest News

Health stocks post best day in 10 months as Trump announces transparency rules

MarketWatch.com - MarketPulse - 22 hours 22 min ago

A popular exchange-traded fund that tracks the health-care sector saw its best daily return in 10 months on Friday after the Trump administration proposed new rules aimed at making health-care prices more transparent. The SPDR Health Care Select Sector ETF posted a 2.1%, marking its best day since Jan. 4, when it rose 2.98%, according to FactSet data. The Trump administration proposed a rule that would require health insurers to disclose estimated out-of-pocket costs, including negotiated rates, to patients in advance of a procedure or office visit. It also finalized a rule requiring hospitals to make transparent the prices they charge patients starting in 2021. It's possible that the stocks gained on doubts on how the rules would be enforced. "While the Trump administration's new hospital price transparency requirement is quite sweeping, the enforcement of it is quite weak - a maximum fine of $300 per day," Kaiser Family Foundation executive Larry Levitt wrote on Twitter. Shares of UnitedHealth Group Inc. , which is the largest health insurer in the U.S., and Anthem Inc. each rose roughly 5%. Shares of Tenet Healthcare Corp. and HCA Healthcare Inc. , both large hospital operators, were up at least 2%. The S&P 500 is up 24.4% year-to-date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Categories: Latest News

Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug

reuters.com - Business News - 22 hours 39 min ago
Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell Celgene's psoriasis drug Otezla, the Federal Trade Commission said in a statement on Friday.
Categories: Latest News

U.S. marijuana retailer MedMen to slash staff, sell off assets

MarketWatch.com - MarketPulse - 22 hours 45 min ago

MedMen Enterprises Inc. , a U.S. marijuana retail chain, announced Friday afternoon that it is cutting more than 20% of its staff and looking to sell some of its assets amid a cash crunch. MedMen said it would lay off 190 workers, scale back marketing and outsource functions such as human relations in an effort to reduce spending on selling, general and administrative efforts to an annualized rate of $85 million. In the fiscal year that ended June 29, MedMen reported general and administrative costs of $244 million and sales and marketing expenses of $27.5 million. MedMen also announced that it has agreed to sell its stake in a pot-focused real estate investment trust for $14 million, exit various venture investments for a net return of $8 million, and will look to sell "certain operations and licenses in states that are currently deemed not critical to the company's retail footprint." MedMen also will slow down on certain planned initiatives, including indefinitely postponing some retail buildouts and expansions, renegotiating a previous acquisition to turn a $15 million cash payout into $10 million in stock, and slowing down M&A activity. MedMen said at the end of its last fiscal year that it had less than $34 million in cash and equivalents, after burning through $45.4 million in a year that included several financing activities. MedMen's over-the-counter shares have lost more than 65% of their value in 2019.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Categories: Latest News

Bristol-Myers Squibb wins antitrust approval to buy Celgene on condition it sell psoriasis drug

reuters.com - Business News - 22 hours 59 min ago
Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell Celgene's psoriasis drug Otezla, the Federal Trade Commission said in a statement on Friday.
Categories: Latest News

Trade deal hopes, surging health stocks power Wall Street to highs

reuters.com - Business News - Fri, 2019-11-15 23:27
Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies.
Categories: Latest News

Stocks rally, oil gains on revived U.S.-China trade hopes

reuters.com - Business News - Fri, 2019-11-15 23:24
Crude prices rose and global equities markets rallied on Friday, with the major U.S. indexes setting record highs, on renewed optimism the United States and China are nearing a deal to de-escalate a 16-month trade war that has crimped global growth.
Categories: Latest News

Cloud-based financial software provider Bill.com files for IPO

MarketWatch.com - MarketPulse - Fri, 2019-11-15 23:19

Bill.com Holding Inc. , a cloud-based financial operations software provider in Palo Alto, Calif., has filed for an initial public offering, according to a filing late Friday. The company, which serves mostly small-to-medium sized businesses, said it plans to raise up to $100 million, but that figure is often used as a placeholder and updated in future filings. The company plans to list under the ticker "BILL" on the New York Stock Exchange. Goldman Sachs, Bank of America Securities, and Jefferies are among the underwriters for the offering. The company reported a loss of $7.3 million on revenue of $108.4 million in the year ended June 30, 2019, compared with a loss of $7.2 million on revenue of $64.9 million in the previous fiscal year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Categories: Latest News

Oklahoma judge reduces Johnson & Johnson opioid payout to $465 million

reuters.com - Business News - Fri, 2019-11-15 23:17
An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million.
Categories: Latest News

Major stock indexes close at new highs on fresh trade optimism and retail sales beat

MarketWatch.com - MarketPulse - Fri, 2019-11-15 23:03

U.S. stocks swept to fresh records as investors turned more bullish on a trade deal with China and focused on rosy consumer data. The Dow Jones Industrial Average closed about 222 points, 0.8%, higher, just above 28,000. The S&P 500 jumped 24 points, 0.8%, to close at about 3,120. The Nasdaq was about 62 points, 0.7%, higher at the close, at 8,541. Shares of J.C. Penney Co. Inc. jumped after beating earnings expectations for the recent quarter.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Categories: Latest News

Trade hopes propel Wall Street to records; healthcare climbs

reuters.com - Business News - Fri, 2019-11-15 23:02
Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies.
Categories: Latest News

Pages