Business

BOSTON (Reuters) – A former Akebia Therapeutics Inc (AKBA.O) employee accused of insider trading was re-arrested on Friday after violating a bail condition as a prosecutor who once called him “increasingly unhinged” said he would seek the man’s detention pending trial. Schultz Chan, the former director of biostatistics at the Cambridge, Massachusetts-based biopharmaceutical company, had
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LONDON: London transport authorities announced Friday they would not renew Uber’s licence to operate in the city when it expires on September 30 over public safety concerns, although it has three weeks to appeal. Transport for London said the conduct of the ride-hailing app, which has around 25,000 drivers operating in the British capital, had
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WASHINGTON (Reuters) – Wall Street’s top regulator came under fire on Thursday over its cyber security and disclosure practices after admitting hackers had breached its database of corporate announcements in 2016 and may have used it for insider trading. The breach involved the U.S. Securities and Exchange Commission’s EDGAR filing system, which houses market-moving information
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(Reuters) – Drugmaker Pfizer Inc (PFE.N) on Wednesday filed a lawsuit against Johnson & Johnson (JNJ.N), saying its rival’s contracts with health insurers for blockbuster rheumatoid arthritis drug, Remicade, were anticompetitive and blocked sales of Pfizer’s new biosimilar. Pfizer said that J&J signed contracts with U.S. health insurers that required patients to “fail first” on
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SHANGHAI (Reuters) – U.S. President Donald Trump’s decision to block a Chinese-backed firm from buying a U.S.-based chipmaker this week is detrimental to America’s growth and the global economy, China’s state news agency Xinhua said in a commentary on Saturday. Canyon Bridge Capital Partners’ planned $1.3 billion acquisition of Lattice Semiconductor Corp was one of
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(Reuters) – Toys ‘R’ Us Inc could file for bankruptcy in the coming weeks as pressure from skittish suppliers intensifies, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company and its restructuring advisers are considering filing for Chapter 11 protection in the U.S. Bankruptcy Court in Richmond, Virginia, according
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(Reuters) – Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines. The S&P 500’s breach of the 2,500-mark came less than four months after it closed above 2,400, and brought 2017’s gain to nearly 12 percent. Professional
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NEW YORK (Reuters) – U.S. equity investors could rotate out of high-yielding sectors and into stocks of banks, which would benefit from the next leg up in interest rates, after the Federal Reserve’s policy-setting meeting wraps up on Wednesday.     If the Fed next week gives a nod to rising inflation or focuses its trimmed-down bond buying on longer-dated
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WASHINGTON (Reuters) – U.S. retail sales unexpectedly fell in August, likely hurt by the impact of Hurricane Harvey on motor vehicle purchases, suggesting a moderation in consumer spending in the third quarter. The Commerce Department said on Friday retail sales dropped 0.2 percent last month, the biggest decline in six months. Data for July was
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PARIS/FRANKFURT (Reuters) – The battle over how and where Europeans charge their electric cars is expanding from the continent’s cities to its motorways. Power utilities, tech start-ups and oil majors are fighting to establish themselves as the dominant players in the fast-growing business of charging stations – but advances in electric vehicles means where they
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TOKYO (Reuters) – Asian stocks wobbled on Wednesday but still marked a 10-year high, cheered by record highs on Wall Street, while shares of Apple Inc’s (AAPL.O) suppliers dipped following the release of the latest iPhone. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was slightly lower, after earlier poking up to its highest
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