The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
(Adds detail on new CEO and Hudson's replacement at Novartis)
PARIS, June 7 (Reuters) - French pharma giant Sanofi has appointed Paul Hudson as chief executive to replace Olivier Brandicourt, who will retire in September, the company said on Friday.
Hudson, a top executive at Sanofi's Swiss rival Novartis , will take his new job on Sept. 1, the French company said, confirming a Reuters report published on Thursday.
"Hudson has been chosen because of his reputation. He is known as a solid manager and has digital expertise relating to pharmaceuticals," a Sanofi source said on Thursday.
Hudson, 51, has been CEO of the Novartis Pharmaceuticals unit since 2016 after holding positions at Schering Plough and AstraZeneca. He is a member of the Novartis executive committee.
Novartis named Marie-France Tschudin head of its main drugs business to replace Hudson.
Sanofi's management started the search for a new boss months ago to replace 63-year-old Brandicourt.
Brandicourt was hired in 2015 to help to revive the fortunes of France's biggest drugmaker and has been actively reshaping the business.
Under his tenure, the company swapped its animal health unit with Boehringer Ingelheim in exchange for the German company's consumer healthcare operations in a $20 billion deal. It has also sold its European generics arm for 1.9 billion euros ($2.1 billion) to private equity firm Advent International.
New launches such as eczema treatment Dupixent, cost-cutting measures and new priorities in research and development have also enabled Sanofi to return to profit in the second half of last year after a series of disappointing quarters.
Brandicourt's teams, however, failed to land two strategic acquisitions, losing out on buying California-based cancer specialist Medivation to Pfizer in 2016 and failing to acquire Swiss biotech company Actelion, which was bought by Johnson & Johnson in 2017. ($1 = 0.8879 euros)
(Reporting by Matthias Blamont and John Miller Editing by Inti Landauro and David Goodman)