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 …
Russian MP Warns Belarus Leader He May End Up Dead Like Gaddafi – A senior Russian lawmaker has warned Belarus President Aleksandr Lukashenko against détente with the US, warning him he could end like Libya’s Gaddafi. “Milosevic, Gaddafi and Hussein all tried to be friends with the United States. Their fates are well known…
Stunning Development As U.S. Sanctions Putin’s Pro-Russian Bikers – The U.S. targeted a motorcycle group favored by Russian President Vladimir Putin in the latest expansion of economic sanctions imposed over the Kremlin’s support for Ukrainian separatists…
After another wild week of trading in global markets, today King World News is pleased to share the following piece from Kevin Wides out of Switzerland. Kevin put together the following chart and commentary exclusively for KWN readers which shows that gold may be set to skyrocket.
Putin Calls And Russia’s Richest Man Responds – Russia’s richest man Alisher Usmanov has transferred his holdings in mobile operator Megafon and iron ore producer Metalloinvest to Russian entities after President Vladimir Putin urged businessmen to bring their assets home. …
Is This The Greatest Invention Since The Telephone? – A world where there are no more language barriers might not be too far away – online, at least. This comany has now released the beta version of its live translation tool, allowing people to speak to others in another language – even if they don’t know what they’re saying. The tool translates speech instantly, providing both text and spoken translations…
China’s Latest $2 Billion IPO Is A Little Disturbing – Nirvana Asia is the latest company to go public on Hong Kong’s stock exchange, in a public offering this week that raised an estimated HK$1.9 billion. It follows in the footsteps of Fu Shou Yuan, a luxury Chinese…
On April 2, 2013, in an article entitled Economics 101: Production, coercion and theft, I wrote about the coming looting of pension plans, stating: When societies approach collapse, coercion shifts to outright theft: Stealing money right out of your bank account, for example, like we recently witnessed in…
Stocks With Cuban Connections Went LOCO In Markets Today! – The prospect of a Cuba Libre had investors pouring into stocks with strong Caribbean connections Wednesday and, in one notable case, a connection that went no further than its name alone was enough to propel the stock 79 percent higher…
The Dollar Is Headed For Collapse – Nearly 600 Other Failed Paper Currencies – For centuries, the British Pound was the world’s reserve currency, because it was consider to be the strongest of all currencies. That is no longer the case; shortly after World War II economically devastated the British Empire, the pound retreated as the world’s reserve currency and the U.S. dollar took its place.
Treasury Department Seeking Survival Kits For Employees Of Every Major Bank – The survival kit includes everything from water purification tablets – emergency masks – solar blankets to be delivered to every major bank in the U.S. – The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC)…
