However, former FTC chairman William Kovacic says Republicans and Democrats can find a balance when it comes to regulating Silicon Valley.
WASHINGTON, June 13- Democratic presidential hopeful Joe Biden on Thursday took umbrage with e-commerce giant Amazon.com Inc's $0 federal tax bill in 2018 and said no company making billions in profits should pay a lower tax rate than firefighters and teachers. The former U.S. vice president's remark comes at a time when Amazon has been repeatedly criticized...
*GSK, University of California set up lab for genomics research. June 13- British drugmaker GSK said it has struck a research deal with the early pioneers of a prominent gene-editing technology at the University of California, in a boost to its prospects for developing new drugs. GlaxoSmithKline, Britain's largest drugmaker, will pay up to $67 million over a...
NEW YORK, June 11- Joe Biden may have an ethanol problem. But Biden, who leads the crowded Democratic field in opinion polls in Iowa and nationally, faces lingering questions in the U.S. That could hurt Biden in Iowa, where he kicked off a campaign tour on Tuesday.
June 10- Drugmaker Insys Therapeutics Inc filed for Chapter 11 bankruptcy protection on Monday, about a week after agreeing to pay $225 million to settle a U.S. probe into bribes it paid to doctors for prescribing a powerful opioid medication. The filing in U.S. Bankruptcy Court in the District of Delaware made Insys the first drug manufacturer to turn to...
June 10- Drugmaker Insys Therapeutics Inc filed for Chapter 11 bankruptcy protection on Monday, about a week after agreeing to pay $225 million to settle a U.S. probe into bribes it paid to doctors for prescribing a powerful opioid medication. The filing in U.S. Bankruptcy Court in the District of Delaware made Insys the first drug manufacturer to turn to...
*U.S. 10- year yields hit lowest since September 2017. Treasury yields tumbled on Friday, with 10- year yields hitting their lowest since September 2017 as domestic employers hired far fewer workers than expected in May, raising bets the Federal Reserve would lower interest rates. "The number is quite startling," said Mike Lorizio, head of Treasuries trading at...
BOSTON, June 7- A unit of Insys Therapeutics Inc pleaded guilty on Friday to fraud charges as part of an $225 million deal with the U.S. Justice Department resolving claims that the drugmaker bribed doctors to prescribe an addictive opioid medication. The plea, in federal court in Boston by the Chandler, Arizona- based Insys' operating subsidiary, came in one of the...
*Hudson to join Sanofi from Sept. 1. PARIS, June 7- Sanofi is poised to appoint Paul Hudson, a top executive with Switzerland's Novartis, to become the French drugmaker's next CEO from Sept. 1, a source familiar with the decision told Reuters on Thursday. Hudson, born in 1967 according to Novartis' website, has been CEO of Novartis Pharmaceuticals unit since 2016.
LAS VEGAS, June 6- Amazon.com Inc Chief Executive Jeff Bezos said on Thursday he expects there will be commercial robots in the next 10 years that can grasp items as reliably as humans, a development that could automate warehouse work around the world. The remark, made on stage at Amazon's "re: MARS" conference in Las Vegas, underscored how companies and university...
WASHINGTON/ BOSTON, June 6- Officials of the U.S. Federal Reserve and International Monetary Fund separately warned on Thursday that global trade tensions and rising tariffs posed an increasing risk to decades of U.S. expansion, as well as to the global economy. Indeed, tariffs on Mexican imports amount to the U.S. taxing its own products since many items that...
NEW YORK, June 6- Shares of consumer staples companies are commonly seen as a safe harbor among U.S. equities but may be more susceptible to the fallout from tensions between the United States and its trading partners than other defensive sectors such as utilities and real estate. President Donald Trump stated he intended to hike tariffs on goods from China.
currencies climb@ June 6- Latin American currencies firmed against a weak U.S. dollar on Thursday, while Mexico's peso dropped to five-month lows amid concerns over the threat of U.S. tariffs and following downgrades by rating agencies. Mexico's peso slipped 0.9% to five-month lows. Late on Wednesday Fitch downgraded Mexico's sovereign debt rating to BBB,...
NEW YORK, June 5- Major world stock markets rose and short-dated U.S. While a flare-up in trade tensions between the United States and China hurt world stocks in May and triggered fears of an impending recession, comments from Fed Chairman Jerome Powell and other Fed officials this week have provided support for stocks. Wednesday's ADP report comes two days...
ADP private job gains lowest since March 2010. NEW YORK, June 5- Wall Street's major indexes rose on Wednesday as investors bet on a Federal Reserve interest rate cut after weak private sector jobs data and hopes grew that the United States and Mexico would reach an agreement to avoid U.S. tariffs on Mexican goods. The gains extended the rally on Tuesday when Fed...
Trump has said he will apply tariffs of 5% on Mexican goods on June 10 if Mexico does not halt the flow of illegal immigration, largely from Central America, across the U.S.-Mexican border. Those tariffs would gradually rise to 25% by Oct. 1 if Mexico does not satisfy Trumps demands. "A prolonged period of tariffs on Mexican imports would likely push Mexico into...
June 4- U.S. auto parts maker Aptiv Plc said on Tuesday if the Trump administration levied a 5% tariff on Mexican imports, it would cost the company $17 million per month. Speaking at an investor conference in Boston, company executives said Aptiv imports products worth a little over $3 billion a year from Mexico. President Donald Trump has threatened to impose...
WASHINGTON, June 4- Former Vice President Joe Biden released a plan on Tuesday to address climate change that would pour $1.7 trillion of investment into achieving 100% clean energy and net-zero emissions by 2050, in part using revenues from reversing Trump administration corporate tax cuts. An adviser to his campaign had told Reuters last month he was...
The investigations into the companies' business in China, along with an existing SEC probe into their sales in Brazil, are part of a new effort by U.S. regulators to crack down on alleged corruption in sales of costly medical equipment worldwide, said the sources, who spoke on condition of anonymity because they were not authorized to discuss the investigation...
The sixth-largest U.S. carrier has 85 A321neo aircraft on order, of which it has already decided to convert 13 into a longer-range version called the A321LR for its planned launch of daily flights from New York and Boston to London in 2021.. "London is the biggest opportunity because it has the highest fares, but there would be other opportunities if we had an...
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