Finance News

California Sued by Drug Companies Over Transparency Law

California Sued by Drug Companies Over Transparency Law

The pharmaceutical industry filed a lawsuit challenging the constitutionality of a new law that California Governor Jerry Brown signed and who many consider to be the most comprehensive legislation related to transparency in prices of prescription drugs in the country. The Pharmaceutical and Manufacturers of America, calling the two-month old […]

Bill Ackman Making Comeback With ADP in His Sights

Bill Ackman Making Comeback With ADP in His Sights

Bill Ackman the embattled activist investor has started his comeback, but it does not appear he picked a target that will be easy. Automatic Data Processing, the outsourcer that handles payroll checks for more than 26 million workers in the U.S., is resisting pressure from Pershing Square Capital Management, Ackman’s […]

Peace Helps Revive Colombian Coffee

Peace Helps Revive Colombian Coffee

Farmers who left the Colombian Andes during the civil war in the South American country are now returning to revive their abandoned farms, cultivating coffee that is boosting the supply globally of the high quality beans. The five-decade war in Colombia, the longest in all the Americas, displaced millions of […]

Pfizer Misses on Revenue After Fall in Demand for Prevnar

Pfizer Misses on Revenue After Fall in Demand for Prevnar

Pfizer Inc. posted quarterly revenue that missed estimates on Wall Street Tuesday, hurt from the drop in demand for Prevnar its blockbuster vaccine for pneumonia, along with other older drugs. Prevnar sales were down by 8.2% ending the quarter at $1.15 billion due in large part on the timing of […]

Kazakhstan Assets Totaling $22 Billion Frozen by BNY Mellon

Kazakhstan Assets Totaling $22 Billion Frozen by BNY Mellon

The Bank of New York Mellon froze $22 billion in assets that the Kazakhstan National Fund holds due to a lawsuit that was launched by Anatolie Stati a Moldovan businessman and his businesses against the government of Kazakhstan, said a source familiar with this case. The National Bank in turn […]

Lyft Begins Service in Canada Its First International Venture

Lyft Begins Service in Canada Its First International Venture

U.S. based Lyft Inc. the ride-hailing company launched on Tuesday its service north of the border in Toronto, marking its first venture outside the U.S. in its battle against Uber Technologies. Lyft prides itself on being a friendlier version of its biggest competitor Uber, which currently is facing several investigations […]

FDA Approves Merck-Pfizer Partnered Urothelial Carcinoma Immunotherapy Drug

FDA Approves Merck-Pfizer Partnered Urothelial Carcinoma Immunotherapy Drug

Merck and Pfizer confirmed that the United States Food and Drug Administration has granted accelerated approval to their partnered drug: a fully-human anti-programmed cell death ligand-1 (anti-PD-L1) monoclonal antibody (mAb). This drug goes by the manufactured name avelumab and will be sold under the label Bavencio as a possible treatment […]

Britain’s Authorities Fine Merrill Lynch for Not Reporting Transactions

Britain’s Authorities Fine Merrill Lynch for Not Reporting Transactions

Merrill Lynch, a unit of Bank of America, was fined in the amount of $45.5 billion by the Financial Conduct Authority in Britain for not reporting details of its trading in exchange-traded derivatives, the British market regulator announced. Monday’s enforcement action, which is the first of a kind under Britain’s […]

Venezuela Will No Longer Accept Payment for Oil in U.S. Dollars

Venezuela Will No Longer Accept Payment for Oil in U.S. Dollars

In Venezuela this week the government announced that it would no longer be accepting payments in U.S. dollars for the oil it sells. This is a huge shift from typical practices in the oil market. The government is believed to have decided that PDVSA, its national oil company will now […]

Norwegian To Offer $199 One-Way Routes From Seattle to London 4-Days A Week

Norwegian To Offer $199 One-Way Routes From Seattle to London 4-Days A Week

Norwegian Air has just announced a new route that is sure to shake things up across the Atlantic: new service from Seattle to London Heathrow for $199 one-way. The airline will offer four flights a week aboard a Boeing Dreamliner 787-9 aircraft, which can carry up to 35 first class […]