Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
The Food and Drug Administration is proposing to tighten the rules for opioid manufacturers by requiring new drugs to be less addictive.
Acting FDA Commissioner Ned Sharpless withdrew the agency's previous guidance Thursday, laying out a tougher new regulatory framework for evaluating applications for new opioids coming to the U.S. market. Under the proposal, drugmakers would have to say whether their drug has "any characteristics that would mitigate the risks of overdose, abuse or the development of addiction."
"Companies should also indicate whether their drugs have novel or greater risks compared to other opioids on the market and also note the public health implications of their products in terms of risks to non-patients, including members of the patient's household, visiting relatives, friends and others," the FDA said.
The opioid epidemic is a major issue for the Trump administration, which has vowed to crack down on illicit use. More than 130 people in the U.S. die every day from opioid overdoses, with about 47,000 people dying in 2017, according to data from the U.S. Centers for Disease Control and Prevention.
"Addressing the crisis of opioid addiction is an issue of great concern for our nation and remains a top public health priority for the FDA," Sharpless said in a statement. "The agency continues to take new steps to confront this crisis, while also paying careful attention to the needs of patients in accessing appropriate pain management."
Some 1,600 civil cases against opioid manufacturers, including OxyContin maker Purdue Pharma, are being consolidated and transferred to a judge in the Northern District of Ohio. And in April, a former CEO of Rochester Drug Cooperative, one of the nation's largest drug distributors, was indicted on what prosecutors say are the first criminal charges against an executive of a drug company to stem from the opioid epidemic.
The FDA on Thursday acknowledged that opioids "present unique challenges" because the drugs help patients in pain but can also "cause enormous harm when misused and abused."
The FDA is taking public comments on its proposal through Aug. 20 and has scheduled a public meeting Sept. 17 to discuss it.