U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
CAREER: Pandit joined Morgan Stanley as an associate in 1983. Seven years later, he was named head of Morgan Stanley's U.S. stock business. In 2005 he left Morgan Stanley and a year later helped found a hedge fund, Old Lane. Citigroup bought the fund in April 2007 and fast-tracked him to replace Charles Prince as CEO in December of that year.
New Cleveland Browns owner Jimmy Haslam III said Tuesday that Holmgren was out as team president, although the Super Bowl-winning coach will remain with the franchise to help in the transition. Haslam was introduced as the Browns' new boss after the 32 NFL owners unanimously approved his $1 billion purchase of the team from Randy Lerner.
SAN FRANCISCO-- In a case seeking to stop California's first-in-the-nation mandate requiring fuel producers to reduce greenhouse gas emissions, federal justices on Tuesday focused their questions on whether the law discriminates against out-of-state businesses.
Shares of Fossil jumped Tuesday after a Citi upgraded its rating on the retailer. THE SPARK: Analyst Oliver Chen sees earnings and stock growth ahead for the company. THE ANALYSIS: Fossil Inc. is already showing signs of growth and the analyst expects it should make bolder gains in 2013..
NEW YORK-- EBay Inc. is expected to post profit and revenue growth in the third quarter, helped by PayPal as well as its e-commerce platform, when it reports its financial results after the market closes on Wednesday.
The Labor Department said the consumer price index rose 0.6 percent last month, the same as in August, with inflation still in check. Benchmark U.S. crude was down 5 cents to $91.80 in New York shortly before 2 p.m.. Brent crude, which is used to price international varieties of oil, lost 27 cents to hit $114.13.
BATESVILLE, Ind.-- Hillenbrand Inc. on Tuesday said it will acquire Germany's Coperion Capital GmbH for 232 million euros, or about $300 million, expanding Hillenbrand's industrial products operations as the company diversifies beyond its traditional business making burial caskets.
PORTLAND, Ore.-- The monthly Oregon employment numbers show the state lost nearly 8,000 jobs in September, ending a half-year string of monthly job gains. The state Employment Department said Tuesday the unemployment rate is 8.7 percent, essentially unchanged from the previous month. The rate has ranged between 8.4 percent and 8.9 percent since January.
But in a note to investors on Tuesday Stifel Nicolaus analyst David A. Schick said several current trends are supporting stores like Dick's Sporting Goods, Hibbett Sports Inc. and Big 5 Sporting Goods Corp.. He raised his third-quarter earnings estimate on Dick's Sporting Goods by 2 cents to 38 cents per share.
THE RESULTS: UnitedHealth Group Inc., the nation's largest health insurer, said Tuesday its third quarter net income climbed 23 percent. It earned $1.56 billion, or $1.50 per share, compared to $1.27 billion, or $1.17 per share, in last year's third quarter. A NEW FORECAST: UnitedHealth raised its 2012 earnings forecast for the third time this year.
TORONTO-- The NHL has made a new offer to the players' association that proposes a 50-50 split of hockey-related revenue and a full 82- game season starting Nov. 2. When asked if the new proposal was an improvement over previous offers made by the NHL, Fehr said: "In some respects I think it is.
STATE COLLEGE, Pa.-- Penn State will not renew the contract of athletic director Tim Curley, who has been on leave since being charged last year with perjury and failing to report a child sex abuse allegation against Jerry Sandusky.
GLASS HALF FULL: Investor optimism in Germany rose in October, sending an upbeat signal about Europe's largest economy. ECONOMIC ENGINE: Germany is Europe's biggest economy and its modest recent growth has kept the eurozone as a whole out of recession.
DEBRE ZEIT, Ethiopia-- Bedlu Mamo stood in middle of his field in Ethiopia and cast a wary eye at the new variety of wheat he planted for the first time. As the U.N.' s Food and Agricultural Organization marked World Food Day on Tuesday, experts are reexamining what crops are best produced in Africa, for Africans.
NEW YORK-- Shares of Isis Pharmaceuticals Inc. skidded Tuesday as regulators raised questions about links between the company's experimental cholesterol drug Kynamro and cancer. THE SPARK: Isis and its partner Genzyme will discuss Kynamro with a Food and Drug Administration advisory panel on Thursday.
HEMPSTEAD, N.Y.-- Republican White House challenger Mitt Romney conferred with his debate practice partner while President Barack Obama exercised before his final study review for Tuesday's debate, both hoping it would help them pull ahead in the razor-tight race.
The EU's anti-fraud office sent a report to the Commission after it investigated a complaint by Swedish Match, a tobacco producer. The Commission said that a Maltese businessman had tried to use his alleged contacts with Dalli to get financial benefit from Swedish Match in return for pressing Dalli to influence future tobacco laws on snus.
JA Solar Holdings Co. Ltd. said Tuesday that it has received a warning from the Nasdaq stock market that its closing price has fallen too low over the past month to meet listing requirements. The company has until April 9, get its share price back above $1 and keep it there for 10 straight business days.
CENTRAL BANK OUSTER: Iraq abruptly removed the longtime governor of the country's central bank after he and other bank officials were targeted in an investigation into alleged financial wrongdoing. CENTRAL BANK VETERAN: Sinan al-Shabibi, is seen as a politically independent economist who has led the bank since shortly after the U.S.-led invasion.
PRICES RISE: U.S. consumer prices rose 0.6 percent last month, the Labor Department said Thursday, mostly because of higher gas prices. Excluding the volatile energy and food categories, prices rose only 0.1 percent for the third straight month.