MONEY (MSM)
Valeant Pharmaceuticals International Inc (VRX.TO)(VRX.N) shares fell as much as 20 percent on Thursday, building on weeks of steep losses over concerns about its ties to specialty pharmacy Philidor Rx Services, which is accused of improperly boosting sales of Valeant drugs. Valeant’s U.S.-traded shares hit their lowest since May 2013, falling as low as $73.37. The Wall Street Journal published a story on Thursday detailing the thinking of one of
New U.S. applications for unemployment benefits last week recorded their largest increase in eight months, but remained at levels consistent with a fairly healthy labor market. Initial claims for state unemployment benefits rose 16,000 to a seasonally adjusted 276,000 for the week ended Oct.31, the Labor Department said on Thursday. A Labor Department analyst said there were no special factors influencing the data.
Who do billionaires turn to when they want to buy apartment complexes? The U.S. taxpayer.
Mortgage giant Fannie Mae reported net income of $2 billion for the July-September period, down from $3.9 billion a year earlier. The government-controlled company attributed the third-quarter decline …
Apple Inc has opened a subsidiary company in Vietnam, allowing the maker of iPhones to import and distribute cellphones directly in one of the fastest growing smartphone markets in the Asia-Pacific. Apple Vietnam Limited Liability was established on Oct. 28 with a registered capital of 15 billion dong ($672,194), according to a news announcement recorded on Vietnam’s national business registry website seen by Reuters on Thursday. The Ho Chi Minh
Details of a sweeping Pacific Rim trade deal released Thursday set the stage for a raucous debate in the U.S. Congress but also may provide reassurances to those who worried the agreement could gut protections …
Wall Street stocks, unable to follow a rally in European and Asian stocks on Wednesday, fell further after Federal Reserve Chair Janet Yellen said the U.S. economy is “performing well” and could justify an interest rate hike in December. The U.S. dollar and U.S. Treasury yields moved higher after Yellen’s comments, building on a rise that followed earlier data showing stronger-than-expected private-sector U.S. job growth. Yellen told Congress the Fed
Wall Street stocks, unable to follow a rally in European and Asian stocks on Wednesday, fell further after Federal Reserve Chair Janet Yellen said the U.S. economy is “performing well” and could justify an interest rate hike in December. The U.S. dollar and U.S. Treasury yields moved higher after Yellen’s comments, building on a rise that followed earlier data showing stronger-than-expected private-sector U.S. job growth. Yellen told Congress the Fed
Federal Reserve Chair Janet Yellen said Wednesday that December would be a “live possibility” for a rate hike if the upcoming data are supportive.
Investors and regulators piled more pressure on Volkswagen on Wednesday after the company said it had understated carbon dioxide emissions for 800,000 cars, widening its scandal over cheating on U.S. engine …
