Martin Shkreli, the pharmaceutical executive facing U.S. charges of securities fraud, lost control of his Twitter account to hackers on Sunday, hours after he took to Twitter to plead his innocence, his spokesman said. “It was hacked,” Craig Stevens, a spokesm... More »
MUMBAI India’s largest drugmaker Sun Pharmaceutical Industries Ltd has been warned by U.S. health regulators for violating manufacturing standards at its Halol plant in India, even as it has been working on fixing issues at the plant for over a year. The U.S. ... More »
SAN FRANCISCO The U.S. Department of Justice is pursuing a criminal investigation of a May 2014 data breach at ride service Uber [UBER.UL], including an examination of whether any employees at competitor Lyft were involved in the episode, sources familiar with... More »
The U.S. Federal Communications Commission said on Friday it approved the $9.1 billion sale of U.S. regional cable company Suddenlink Communications to European telecoms group Altice NV. The Dutch firm announced in May its acquisition of a majority stake in Su... More »
FRANKFURT Chinese investment group Fosun has withdrawn its offer for wealth management group BHF Kleinwort Benson, the Belgian stock market regulator said on Friday. Fosun had offered 5.10 euros per share for BHF, but its bid was challenged by French private b... More »
LONDON AstraZeneca (AZN.L) said on Thursday it had agreed to buy 55 percent stake of privately held biotech firm Acerta Pharma for $4 billion to give it access to a new kind of drug for fighting blood cancers. AstraZeneca will pay $2.5 billion upfront, with a ... More »
U.S. and Cuban officials said on Wednesday they had made important headway in a months-long effort to restore scheduled flight service between the countries after half a century of confrontation. An agreement would pave the way for U.S. airlines to schedule fl... More »
Sumner Redstone’s former girlfriend filed a new lawsuit on Monday alleging that the 92-year-old media mogul’s signature was forged on a document, supporting her allegation that he was being manipulated in his business and personal affairs. Redstone is the cont... More »
SEOUL The heir apparent of Samsung Group will buy up to 300 billion won worth of shares to be sold by affiliate Samsung Engineering Co Ltd should existing shareholders not fully take up the firm’s 1.2 trillion won rights issue, Samsung Group said on Monday. In... More »
WASHINGTON/NEW YORK President Barack Obama on Sunday called on Silicon Valley to help address the threat of militant groups using social media and electronic communications to plan and promote violence, setting up renewed debate over personal privacy online. “... More »
WASHINGTON President Barack Obama has asked the U.S. Department of Homeland Security and the State Department to review the K-1 fiance visa program that was used by a couple responsible for a mass shooting in California, a White House official said on Sunday. ... More »
BEIJING A Chinese biotech seed firm is aiming to launch the country’s first genetically modified corn products overseas on the home turf of the world’s top agricultural companies, as Beijing’s reticence over GMO food keeps the domestic market off limits. The p... More »
ZURICH Novartis’ phase III study for its acute myeloid leukemia (AML) drug showed it improved overall survival by 23 percent for patients with FLT3 mutations, the Swiss drugmaker said on Sunday. Basel-based Novartis said the study was the first large controlle... More »
ZURICH Swiss drugmaker Novartis said the latest findings from a study on its newest therapy for two kinds of blood cancer track earlier results, bolstering its confidence in a 2017 U.S. regulatory submission. Novartis is testing CTL019, its investigational chi... More »
BOSTON/SINGAPORE Parents who gave their child a Kidizoom smartwatch or a VTech InnoTab tablet may have exposed them to identity theft after Hong Kong-based VTech said hackers stole the personal information of more than 6 million children. The breach underscore... More »
TOKYO Japan’s securities watchdog will recommend that Toshiba Corp should be fined 7.37 billion yen ($59.84 million) for accounting violations, a person familiar with the process told Reuters on Saturday. The source said the Securities and Exchange Surveillanc... More »
BRUSSELS EU antitrust regulators have dropped charges against 13 banks including Citigroup and Deutsche Bank for blocking exchanges from derivatives markets, but will continue their case against data company Markit and trade body ISDA. The European Commission ... More »
WASHINGTON The Federal Reserve Board will consider on Monday a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank’s controversial decision to aid AIG (AIG.N), Citigroup (C.N) and others in 2008. A proposed rule,... More »
SHANGHAI/NEW YORK When the International Monetary Fund agrees on Monday to add the Chinese yuan to its reserves basket in the biggest shake-up in more than three decades, the IMF can afford itself a congratulatory nod. By acknowledging the yuan as a major glob... More »
FRANKFURT Volkswagen’s (VOWG_p.DE) top executives knew a year ago that some of the company’s cars were markedly less fuel efficient than had been officially stated, Sunday paper Bild am Sonntag reported, without specifying its sources. VW in early November rev... More »
SHANGHAI China, already a global powerhouse in high-tech areas from solar panels to bullet trains, is turning its industrial might to the challenge of making more of its own drugs for a vast and aging population. Given the 10 years or more it typically takes t... More »
SAO PAULO The reliance of Brazil’s Grupo BTG Pactual SA on market funding may pose an immediate challenge for new boss Persio Arida, who sought to calm clients on Friday after its shares fell for a third straight day. The São Paulo-based investment bank tapped... More »
A New York-based investment adviser filed a class action lawsuit against Barclays Plc on Friday alleging that rigged foreign exchange trading practices at the bank caused “significant damages” to its trading partners. The suit by Axiom Investment Advisors LLC,... More »
SAO PAULO Clients stepped up withdrawals from Grupo BTG Pactual SA’s money management unit on Thursday, according to a source with knowledge of the bank’s strategy, as Latin America’s largest independent investment bank tries to contain fallout from the arrest... More »
The U.S. Department of Justice is investigating whether Comcast Corp, the biggest U.S. cable TV provider, is hindering competition in cable advertising sales, a source told Reuters. The department’s Antitrust Division has sent documents known as civil investig... More »
Pfizer Inc (PFE.N) secured formal board approval on Sunday for its acquisition of Botox maker Allergan Plc (AGN.N) for more than $150 billion, a deal that will create the world’s biggest drug maker, according to people familiar with the matter. The deal, the l... More »
YANGON Hopes faded on Monday that any of 100 people still missing would be found alive two days after a landslide near a jade mine in northern Myanmar smashed into a makeshift settlement, burying mine workers as they slept. Rescue workers had recovered 104 bod... More »
LONDON Britain’s “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday. Each year billions of pounds of dirty money flow... More »
ROME Italy will use a new system set up by its central bank to save four small savings banks from failure before stricter rules for winding down lenders come in next year, banking sources told Reuters. The rescue will be conducted by the Bank of Italy at a cos... More »
Novartis AG said on Friday it received the U.S. Food and Drug Administration’s regular approval for a drug combination to treat an aggressive form of skin cancer. The FDA approved Tafinlar and Mekinist for treatment of metastatic melanoma based on two years ov... More »
DES MOINES, Iowa U.S. Democratic presidential front-runner Hillary Clinton played defense over her 2003 vote backing the U.S. invasion of Iraq and inched away from President Barack Obama on Syria and the rise of Islamic State militants during a contentious deb... More »
NEW YORK/LOS ANGELES In recent days, the largest U.S. managers of private prescription drug benefits have cut off at least eight pharmacies that work closely with drugmakers, intensifying scrutiny of a system that helps inflate drug prices, officials at the be... More »
WASHINGTON The U.S. Supreme Court’s decision on Friday to hear a challenge to tough abortion restrictions in Texas raises questions about the legal fate of similar laws in more than a dozen other states. The court’s ruling, due by June, could spell out the ext... More »
NEW YORK Exchange and clearing house operator Nasdaq Inc plans to develop several applications for blockchain, the technology underpinning the digital currency bitcoin, using its Estonian settling and clearing business, a senior Nasdaq executive said on Friday... More »
The U.S. Food and Drug Administration said on Friday it approved Baxalta Inc’s drug for use in patients with a type of rare bleeding disorder. The drug, Adynovate, was approved to control and reduce the frequency of bleeding episodes in patients with Hemophili... More »
BOGOTA Colombia said on Friday it plans to legalize medical marijuana in a further shift in drug policy after suspending aerial fumigation of illicit crops. The government is preparing a decree which would approve the therapeutic use of marijuana, the presiden... More »
WASHINGTON The U.S. Supreme Court took up a major new abortion case on Friday, agreeing to hear a challenge by abortion providers to parts of a restrictive, Republican-backed Texas law that they contend are aimed at shutting clinics that offer the procedure. T... More »
BRUSSELS European regulators on Friday said they had approved U.S data center operator Equinix’s $3.7 billion purchase of Telecity Group on condition it sold off data centers in Amsterdam, Frankfurt and London. “With the ever growing economic importance of ‘cl... More »
The New York Stock Exchange has asked U.S. federal regulators to let it flag “aberrant” pricing of exchange-traded funds, according to a filing on Thursday. The exchange asked regulators for permission to discourage traders from relying on prices “that the exc... More »
Dish Network Corp (DISH.O) said the proposed merger of Charter Communications and Time Warner Cable was not in the public interest, in a reply filed with the Federal Communications Commission. “The proposed merger is harmful for consumers, competition and inno... More »
BANGKOKA Thai fortune teller arrested as part of a high-profile royal insult investigation has died, the government said on Monday, the second suspect in as many weeks to die in police custody. Suriyan Sucharitpolwong, a well-known soothsayer and former aide t... More »
LONDONGlobal regulators set out their “final tools” on Monday for ending the phenomenon of “too big to fail” banks, seeking to draw a line under a period of intensive rule making after a financial crisis that tarnished the sector and weighed heavily on taxpaye... More »
WASHINGTONHillary Clinton on Saturday called for looser federal regulations governing marijuana, to boost scientific research on a drug that many tout for relieving pain, among other medical benefits, according to media reports. Speaking at a campaign event in... More »
WASHINGTON/NEW YORK/YANGONWestern banks are cutting trade finance in Myanmar after learning that part of the country’s main port is controlled by a man blacklisted by Washington, threatening to stop nascent U.S. economic ties with the Southeast Asian nation in... More »
CHICAGO/MEXICO CITYMonsanto Co on Friday denied that plantings of its genetically modified soybeans have impacted bees, led to deforestation or caused damage to the honey production industry in two Mexican states. Mexico’s Supreme Court on Wednesday blocked a ... More »
Merck & Co’s drug to reverse the effects of muscle relaxants used in surgery is safe and effective enough to warrant approval, an independent panel to the U.S. Food and Drug Administration said. The drug, which goes by the chemical name of sugammadex, has repe... More »
NEW YORKWells Fargo & Co will likely need to issue an additional $20 billion to $40 billion of long-term debt to comply with new rules designed to help banks better weather a crisis, Chief Financial Officer John Shrewsberry said on Friday. The debt issuance wo... More »
ATHENSGreece’s parliament approved early Friday a bill with reforms prescribed by the country’s international lenders, ahead of a euro zone finance ministers meeting in three days which will decide if Athens qualifies for fresh bailout funds. Greece needs to l... More »
Banks’ exposure to junk-rated companies and the oil and gas sector remains high, according to an annual report on loan quality by U.S. bank regulators released Thursday. The regulators gave a negative classification to $372.6 billion out of $3.9 trillion in lo... More »
BRUSSELSThe euro zone may need to spend only 10 billion euros or less to help recapitalize Greek banks, a senior EU official said, after an ECB test showed the sector would need an extra 14.4 billion euros of capital if major risks materialized. Euro zone cred... More »
NASHVILLE, Tenn. Fred Thompson, a former Republican U.S. senator from Tennessee who briefly ran for president and straddled the world of politics and entertainment with a prolific television and film acting career, died of cancer on Sunday at age 73. Thompson,... More »
NEW YORK/LOS ANGELES Chipotle Mexican Grill Inc said on Sunday it had closed all its restaurants in two West Coast markets due to a reported outbreak of E. coli bacteria that is being investigated by the company and health authorities. “After being notified by... More »
CHICAGO Standing at the meat counter at a Mariano’s grocery store in Chicago, a half-dozen customers bantered with the butchers about the recent World Health Organization report linking processed meat to colorectal cancer. “Give me two pounds of bacon,” said R... More »
Six big U.S. banks need to raise an additional $120 billion, most likely in long-term debt, under a rule proposed on Friday by the Federal Reserve. The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Gol... More »
FRANKFURT Taxi-hailing service Uber Technologies is making a retreat in Germany to the cities of Berlin and Munich as it grapples with a ban from using unlicensed cab drivers. Uber will for now suspend services in Hamburg, Frankfurt and Duesseldorf, it said in... More »
BOSTON Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud. But they are being resisted by the banking industry, which se... More »
Charter Communications Inc (CHTR.O) said its acquisition of Time Warner Cable Inc (TWC.N), which is awaiting clearance from U.S. regulators, is now expected to close in the first quarter of 2016, and not by the end of 2015 as planned. The $56 billion deal, ann... More »
BRUSSELS The European Commission, which polices euro zone governments’ finances, will give more budget leeway to states that can prove to have suffered extraordinary costs to face the refugee crisis, Commission President Jean-Claude Juncker said on Tuesday. “W... More »
The New York attorney general is probing whether three major Internet providers could be short-changing consumers by charging them for faster broadband speeds and failing to deliver the speeds being advertised, according to documents seen by Reuters. The lette... More »
U.S. regulators are expanding their probe into Deutsche Bank AG (DBKGn.DE)(DB.N) as a money laundering investigation of a Moscow unit has widened into possible sanctions violations, the Financial Times reported, citing sources. The U.S. Justice Department and ... More »
LONDON British broadband provider TalkTalk said on Sunday it had hired defense company BAE Systems to investigate a cyber attack that may have led to the theft of personal data from its more than 4 million customers. TalkTalk said on Friday it had received a r... More »
The U.S. Food and Drug Administration said it approved Johnson & Johnson’s chemotherapy to treat specific soft-tissue sarcomas (STS) that have spread to other parts of the body or cannot be removed by surgery. The drug, Yondelis, is designed to delay the progr... More »
BOSTON/NEW YORK A panel of medical experts said on Friday the prices of prescription medicines in the United States need to be brought in line with the value they bring to patients instead of continuing to let drugmakers set any price they choose. “Americans a... More »
FRANKFURT Deutsche Bank Chief Executive John Cryan will present details of a deep overhaul of Germany’s biggest lender on Thursday, hoping his changes will please investors after rival Credit Suisse’s plan drew a tepid response. One top 30 institutional shareh... More »
Russian hackers had infiltrated Dow Jones & Co to steal information to trade on before it was made public, and the breach was “far more serious than a lower-grade intrusion” disclosed by the company, Bloomberg reported, citing sources. The Federal Bureau of In... More »
SAN FRANCISCO International Business Machines Corp said on Friday it allows certain countries to review, under strict control, portions of the U.S. technology company’s product source code to detect any security flaws in its software. China is among those coun... More »
Cablevision Systems Inc and Viacom Inc have settled an antitrust lawsuit in which Cablevision had accused Viacom of forcing distributors and subscribers to buy channels they did not want. Cablevision and Viacom are simultaneously entering into “mutually benefi... More »
MILAN Telecom Italia said on Friday it would resume talks with the main shareholders of fiber optic company Metroweb over plans to build a broadband network in Italy. At stake in the negotiations is who will call the shots to implement the government’s 12-bill... More »
TORONTO Bank of Nova Scotia said on Friday it is creating a digital hub in downtown Toronto to help lure technology talent and drive innovation for Canada’s third-biggest lender. The “digital factory” will have more than 350 employees, including existing staff... More »
NEW YORK AT&T Inc said it does not oppose the proposed merger of Charter Communications Inc and Time Warner Cable Inc, but in a letter to the U.S. Federal Communications Commission it asked for a careful review on the impact of cable deals on emerging online v... More »
BOSTON A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover. On top of rate hikes, insurers ar... More »
KUALA LUMPUR Former Malaysian Prime Minister Mahathir Mohamad and some leaders of the ruling party jointly demanded resolution of the 1MDB state fund scandal on Monday and condemned a crackdown on dissent, signaling a divide within the coalition. Mahathir has ... More »
BEIJING China’s quality watchdog said on Monday it was “highly concerned” about the mechanism in Volkswagen AG’s (VOWG_p.DE) diesel cars designed to trick emissions tests and would take appropriate follow-up measures. The General Administration of Quality Supe... More »
NEW YORK Two former Rabobank [RABO.UL] traders from Britain are set to become the first defendants to face trial in the United States on charges stemming from a global investigation into whether various banks sought to manipulate the interest rate known as Lib... More »
MEXICO CITY Mexican telecoms regulator IFT said on Sunday that it will force Telmex to offer competitors better terms as it seeks to open up its local network, part of an effort to increase competition in a sector dominated by billionaire Carlos Slim. The move... More »
LOS ANGELES California Governor Jerry Brown on Saturday signed a bill that sets the strictest government standards in the United States for the use of antibiotics in livestock production. The move from California, known for its leadership on public health and ... More »
President Barack Obama’s administration has backed away from seeking legislation that would give U.S. law enforcement agencies access to individuals’ encrypted messages, the White House said on Saturday. “We are actively engaged with private companies to ensur... More »
The U.S. administration hopes to release the full text of a Pacific trade deal within the next 30 days, U.S. Trade Representative Michael Froman said in an interview with CNN. The United States sealed the Trans-Pacific Partnership (TPP) with 11 trading partner... More »
SHANGHAI China on Saturday published draft rules to regulate online car hailing businesses, a booming sector where U.S. firm Uber Technologies Inc [UBER.UL] and Chinese rival Didi Kuaidi have been aggressively competing for market share. The draft rules, publi... More »
The U.S. Supreme Court’s June decision to legalize same-sex marriage did not eliminate the unique financial planning needs of lesbian, gay, bisexual and transgender (LGBT) clients. For years, same-sex couples in domestic partnerships needed financial advisers ... More »
NEW YORK/WASHINGTON U.S. Democratic presidential hopeful Hillary Clinton on Thursday called for the breakup of large banks that take excessive risks as part of a sweeping plan to curb what she says are Wall Street abuses. Under the proposal, large financial fi... More »
WASHINGTON Space Exploration Technologies, or SpaceX, has slammed a bid by United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, to get a waiver from a U.S. ban on Russian rocket engines for military use. Elon Musk, the billionaire fou... More »
PARIS/SINGAPORE Uber Inc’s aggressive global expansion is looking costlier and riskier than ever as the company struggles with regulatory and competitive obstacles in major markets. Just last week, the company faced a police raid on its European headquarters i... More »
SYDNEY Australia, where Uber is popular but mostly illegal, offers a microcosm of the company’s global challenges. Three years after launch, the service has failed to gain government approvals in most jurisdictions, and two criminal cases that are heading to c... More »
BANGKOK Thailand’s military government, which took power in May last year, appointed a committee to draft the country’s 20th constitution on Monday after a previous draft was rejected, delaying promised elections until at least 2017. The junta-appointed legisl... More »
ATLANTA A dozen Pacific nations closed in on a sweeping free-trade pact on Sunday in Atlanta but failed to finalize terms on the fifth day of round-the-clock talks, dashing hopes raised by an earlier breakthrough on protections for new biotech drugs. U.S. offi... More »
LONDON The world’s nine biggest insurance companies will have to hold more capital under new rules just finalised by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. Regulators decided to look at the multi-trillion dollar in... More »
WASHINGTON Former Federal Reserve Chairman Ben Bernanke said in a newspaper interview published on Sunday that more corporate executives should have been prosecuted for their actions leading up to the 2008 financial crisis. Bernanke told USA Today that the U.S... More »
BERLIN Volkswagen’s (VOWG_p.DE) supervisory board will hold an extraordinary meeting on Wednesday at which finance chief Hans Dieter Poetsch is expected to be appointed as new head of the 20-member controlling panel, two sources said on Sunday. Europe’s bigges... More »
SYDNEY Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency’s mainstream appeal is fading. Concerns about bitcoin’s potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australi... More »
(Reuters Health) – U.S. states need better policies for transporting high-risk pregnant women and newborns to the specialized care they need – and then back to their local hospitals for continuing care, researchers say. Focusing on transportation policies as a... More »
RIO DE JANEIRO Brazil’s health regulator Anvisa said on Friday it had suspended the production, sale and use of products made by Brazilian breast-implant maker Silimed after an inspection found the company failed production standards. Anvisa acted a week after... More »
The U.S. Food and Drug Administration on Friday approved Merck & Co Inc’s immunotherapy, Keytruda, for patients with the most common form of lung cancer whose tumors produce a specific biological marker. The FDA approval for Keytruda in advanced non-small cell... More »
Experian Plc (EXPN.L), the world’s biggest consumer credit monitoring firm, on Thursday disclosed a massive data breach that exposed sensitive personal data of some 15 million people who applied for service with T-Mobile US Inc (TMUS.N). Connecticut’s attorney... More »
Dish Network Corp’s affiliates on Thursday surrendered 197 spectrum licenses to the U.S. government after they were held ineligible for $3.3 billion in small-business discounts earlier this year, according to a senior U.S Federal Communications Commission offi... More »
BERLIN Volkswagen (VOWG_p.DE) has suspended the R&D chiefs of its core VW brand, luxury division Audi and sports-car maker Porsche, sources familiar with the matter said on Monday. The carmaker’s supervisory board last Friday agreed to put a number of employee... More »
ZURICH The Swiss competition regulator has opened an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of manipulation probes. Switzerland’s WEKO watchdog said its investigatio... More »
HELSINKI Earnings quality at Finland’s banks is at risk of being eroded by a struggling domestic economy and financial market together with low euro zone interest rates, the country’s financial watchdog said on Monday. With borrowing costs at historic lows, th... More »
The U.S. regulator overseeing the replacement of Takata Corp (7312.T) air bags is considering an order that would expand the recalls and has contacted seven manufacturers who could be affected, including Volkswagen AG (VOWG_p.DE) and Tesla Motors Inc (TSLA.O),... More »
PARIS French drugmaker Sanofi said the European Commission had cleared its key cholesterol drug Praluent for the treatment of so-called “bad cholesterol,” or low-density lipoprotein (LDL) cholesterol, in certain adult patients with hypercholesterolemia. The dr... More »
