Tag: Breaking news

2024-10-01

Major CVS shareholder plans activist push, meet with execs: sources

No Comments
Business

Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, a potential precursor to an activist push. The hedge fund has established a sizable position in the company, said some of the people. Glenview invests in a…

Read More

2024-09-30

Prices rise 2.2%, less than expected

No Comments
Business

Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%,…

Read More

2024-09-28

FDA approves Bristol Myers Squibb’s schizophrenia drug

No Comments
Business

Bristol Myers Squibb’s Cobenfy drug Courtesy: Bristol Myers Squibb The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades.  Schizophrenia affects how a person thinks, feels and behaves, and can cause paranoia, delusions, hallucinations, and changes…

Read More

2024-09-20

The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means

No Comments
Business

Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the Fed took the unusual…

Read More

2024-09-17

Pfizer’s cancer cachexia drug shows positive midstage trial results

No Comments
Business

Pfizer‘s experimental drug for a common, life-threatening condition that causes cancer patients to lose their appetite and weight showed positive results in a midstage trial, the drugmaker said Saturday.  Patients with the condition, called cancer cachexia, who took Pfizer’s treatment saw improvements in body weight, muscle mass, quality of life and physical function, according to the drugmaker. The results…

Read More

2024-09-14

Activist Engine Capital pushes for new board at Upwork, takes 4% stake

No Comments
Business

Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019.  Smith Collection | Gado | Archive Photos | Getty Images Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company’s board. In a letter to Upwork’s…

Read More

2024-09-13

$1 billion in cost cuts, 10 product launches planned

No Comments
Business

Moderna headquarters, exterior view, Cambridge, Massachusetts, USA.  Plexi Images | GHI | UCG | Universal Images Group | Getty Images Moderna on Thursday said it plans to cut around $1.1 billion in expenses by 2027 and win approvals for several new products as it charts a path forward after the rapid decline of its Covid business.  The biotech company said…

Read More

2024-09-10

Norfolk Southern probing CEO Alan Shaw over workplace relationship

No Comments
Business

Alan Shaw, CEO, Norfolk Southern Scott Mlyn | CNBC Norfolk Southern’s board is examining allegations that CEO Alan Shaw engaged in an inappropriate workplace relationship, according to three people familiar with the matter. The company confirmed late Sunday evening it was probing Shaw over “possible conduct” that violated the company’s code of ethics and that it had hired outside…

Read More

2024-09-09

Leqembi could give Alzheimer’s patients more time, but road to treatment is long

No Comments
Business

Hannah Yoon | The Washington Post | Getty Images Leqembi, an Alzheimer’s drug from Biogen and Eisai, isn’t a cure for the mind-damaging disease.  But the treatment promises to give patients such as Missie Meeks more time to live their daily lives normally and independently of others. Meeks, an English professor based in Ellisville, Mississippi, was diagnosed with an…

Read More

2024-09-07

Jobs report August 2024:

No Comments
Business

The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month. Nonfarm payrolls expanded by 142,000 during the month, up from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according to a report Friday…

Read More