April 18- Biogen Idec Inc is pricing its newly approved long-acting hemophilia drug, Alprolix, to cost U.S. patients, and insurers, about the same per year as older, less convenient therapies whose price can reach about $300,000 annually.» Read More
NEW YORK— Federal Reserve Chair Janet Yellen said Wednesday that the U.S. job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges.
NEW YORK, April 16- The length of time the Federal Reserve keeps its key interest rate near zero will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will likely take to meet them, Fed Chair Janet Yellen said on Wednesday.
CNBC's Mary Thompson speaks with a bitcoin miner who runs a mini mining operation out of his basement.
April 16- London- based Armajaro Asset Management lost nearly a quarter of assets at its largest commodities fund in the first quarter, the latest sign that edgy investors have continued to withdraw cash from the sector after weak returns, documents show.
Discussing loan growth in financials and the drag of litigation on Bank of America's earnings, with Gerard Cassidy, RBC Capital Markets lead banking analyst.
The company raised about $163 million after its offering was priced at $25, below the expected price range of $26- $29 per share. Moelis, founded and led by veteran Wall Street investment banker Ken Moelis, offered 6.5 million shares of Class A common stock, lower than the 7.3 million it had initially planned.
*Money printing in U.S., Japan piles pressure on euro. LONDON/ FRANKFURT, April 16- Many of the factors driving the euro exchange rate to levels that have set off alarm. bells at the European Central Bank are unlikely to go away on.
American Express Co. rose$. 64 or. 7 percent, to $86.68. Capital One Financial Corp. rose$. 54 or. 7 percent, to $75.06. Discover Financial Services rose$. 50 or. 9 percent, to $56.00.
Ken Moelis, Moelis & Company founder and CEO, discusses the public debut of his company on the NYSE and explains his boutique investment banking model. "Clients will want the flexibility of an independent, unconflicted advisor," Moelis says.
NEW YORK, April 16- The dollar edged lower against the euro for the first time in four trading sessions on Wednesday ahead of Federal Reserve Chair Janet Yellen's comments, but rose against the yen on signs of future buying of Tokyo stocks by Japan's state pension fund.
Discussing how to buy in volatile market conditions and the investment banking market, David Katz, Matrix Asset Advisors CIO, and Charles Bobrinskoy, Ariel Investments vice chairman & portfolio manager.
BEIJING, April 16- China's economy expanded 7.4 percent between January and March, its slowest pace in 18 months, prompting authorities to act for the second time in as many weeks to shore up growth.
The "Squawk on the Street" news team break down Bank of America's Q1 earnings loss thanks largely to legal expenses related to the financial crisis.
*Credit Suisse Q1 net profit 859 mln Sfr vs poll 1.155 bln. ZURICH, April 16- Credit Suisse's said on Wednesday first-quarter net profit fell by more than a third due to a big drop in bond trading revenues, increasing pressure on CEO Brady Dougan to make deeper cuts to its investment banking business.
"It looks like it's an operating beat, but they got there probably like no one thought they would," Raymond James analyst Anthony Polini told CNBC.
April 16- Bond insurer Financial Guarantee Insurance Co said it had reached an agreement with Bank of America Corp to settle litigation related to nine second-lien residential mortgage-backed securitizations FGIC had insured.
CHARLOTTE, N.C.— Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal charges.
NEW YORK— Moelis& Co. priced its initial public offering at $25 per share, which was below expectations. The New York investment bank plans to offer 6.5 million shares to raise $162.5 million.
SHANGHAI, April 16- BTC China, one of the country's leading digital currency exchanges, has installed China's first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies.
OVERLAND PARK, Kan.— Kansas will require health insurance companies to cover services for hundreds of children with autism starting next year under a bill signed into law Wednesday by Gov. Brownback signed the bill in an auditorium on the satellite University of Kansas campus in Overland Park, the home of a center for autism research.
Two of Japan's largest banks have stepped back from Russia in recent weeks, bankers and executives told the Financial Times.
Kelly King, BB&T chairman and CEO, reacts to the role mortgage lending played in its weak quarterly report. King says the current yield curve reflects a slow economy.
Brennan Hawken, UBS director of equity research, breaks down the quarterly earnings of Morgan Stanley and Goldman Sachs.