Business

Bankman-Fried, Ellison tap attorneys as FTX probes ramp up

By Chris Prentice and Alison Frankel NEW YORK (Reuters) – FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of its now-defunct trading affiliate, have tapped defense attorneys as US authorities probe the crypto exchange’s collapse, according to a spokesperson for Bankman-Fried and a source familiar with Ellison’s selection. Bankman-Fried has retained …

Bankman-Fried, Ellison tap attorneys as FTX probes ramp up Read More »

‘Constant turmoil’ at FDA’s food regulatory agency, report says

In response to the report, the FDA said in a statement that it plans to release a public update on the “new vision” in January 2023 and any changes to leadership as well as internal processes and procedures by February 2023. The “new vision and structure” will be based on the RUF report, the internal …

‘Constant turmoil’ at FDA’s food regulatory agency, report says Read More »

Summit Therapeutics Shares Surge After Licensing Agreement For Cancer Program

Akeso Inc announced a collaboration and license agreement with: Summit Therapeutics Inc (NASDAQ: SMMT) to out-license its breakthrough bispecific antibody, ivonescimab (PD-1/VEGF, AK112) for development and commercialization in the US, Canada, Europe, and Japan. In addition, the company will co-brand the product in the license territories. Currently, Akeso is conducting a phase 3 trial of …

Summit Therapeutics Shares Surge After Licensing Agreement For Cancer Program Read More »

I Tried and Failed to Get Jeff Bezos to Save My Hometown

Jeff Bezos will not save the paper mill and—by extension—the local economy in the town of Wisconsin Rapids, but at least he considered the idea thanks to entrepreneur Justin Vandehey. Writing for Entrepreneur, Vandehey explains he has some credibility in the tech startup arena but no experience with paper, politics, or economics. What he does …

I Tried and Failed to Get Jeff Bezos to Save My Hometown Read More »

GSK, Sanofi, Haleon stocks jump after win in Zantac product liability case

Juanmonino GSK Plc (NYSE:GSK:) rose 7.9% and Sanofi (NASDAQ:SNY:) gained 8.1% after winning in a Zantac product liability lawsuit. GSK consumer spinoff Haleon (NYSE:HLN:) advanced 7.3%. The companies were granted summary judgment by a federal judge in Florida in multi-district litigation related to: heartburn relief medication Zantac, according to page 341 court ruling. Zantac was …

GSK, Sanofi, Haleon stocks jump after win in Zantac product liability case Read More »

A ‘dismal’ personal savings rate could mean trouble as the economy slows

Americans may be expecting the proverbial “rainy day” as the Federal Reserve continues its aggressive rate hikes intended to slow the economy – but they aren’t exactly planning accordingly. Personal income rose 0.7 percent in October compared to September, according to new estimates from the Bureau of Economic Analysis. Most of those gains flowed right …

A ‘dismal’ personal savings rate could mean trouble as the economy slows Read More »

CEO optimism plunges to a two-year low as the US economy teeters on the brink of recession

Michael Lee Strategy founder Michael Lee discusses the strength of the US economy ahead of Christmas and whether the Fed will ‘overdo’ rate hikes on ‘Varney & Co.’ The chief executives of America’s biggest companies are feeling increasingly sour about the state of the US economy as it confronts the duel threat of high inflation …

CEO optimism plunges to a two-year low as the US economy teeters on the brink of recession Read More »

Walmart CEO. Inflation on toys, clothing and sports equipment is easing

New York CNN Business: – Finally, shoppers are getting some good news about prices. Inflation is falling on discretionary merchandise just in time for the holidays, Walmart chief Doug McMillon said Tuesday. “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” McMillon said in an interview on CNBC. “We’re still …

Walmart CEO. Inflation on toys, clothing and sports equipment is easing Read More »