Martin Shkreli settles all litigation with his former company Retrophin

Martin Shkreli settles all litigation with his former company Retrophin
NEW YORK (Reuters) – Martin Shkreli, the pharmaceutical entrepreneur serving a seven-year prison term for fraud, has settled all outstanding disputes with Retrophin Inc, the biopharmaceutical company he founded in 2011 and which ousted him three years later. FILE PHOTO: Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough... Read More

Merck CEO sees legal challenge if U.S. adopts drug pricing based on other countries

Merck CEO sees legal challenge if U.S. adopts drug pricing based on other countries
NEW YORK (Reuters) – Merck & Co Chief Executive Ken Frazier said on Thursday a rule to base the price the U.S. government pays for some prescription drugs in it Medicare program on lower prices in other countries would face legal challenges if adopted. FILE PHOTO: Ken Frazier, Chairman and CEO, Merck & Co., speaks during a meeting of the... Read More

Retailers J.C.Penney, Macy’s oppose proposed tariffs on apparel, footwear

Retailers J.C.Penney, Macy’s oppose proposed tariffs on apparel, footwear
FILE PHOTO: A J.C. Penney Company Inc. store is pictured at a mall in Langhorne, Pennsylvania, U.S. November 17, 2018. REUTERS/Suzanne Barlyn (Reuters) – Department store operators J.C. Penney Co Inc and Macy’s Inc have opposed U.S. President Donald Trump’s proposal to include apparel and footwear among the Chinese goods targeted for tariffs. The companies warned that U.S. consumers would... Read More

Exclusive: Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources

Exclusive: Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources
(Reuters) – ​Chevron Phillips Chemical Company LP, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday. Abu Dhabi’s Mubadala Investment Co, the owner of Nova Chemicals, has been exploring a sale of the Canadian plastics maker since the... Read More

HomeStreet defeats activist Roaring Blue Lion in proxy contest

HomeStreet defeats activist Roaring Blue Lion in proxy contest
BOSTON (Reuters) – HomeStreet Inc defeated Roaring Blue Lion Capital Management’s campaign to unseat one director and install its own candidate, ending a two-year standoff between the financial services company and the activist investor, the company said on Thursday. Three of HomeStreet’s nine directors stood for re-election at Thursday’s annual meeting and each received at least 80 percent of the... Read More

Exclusive: Deutsche Bank braced for continued Fed restrictions on U.S. business – sources

Exclusive: Deutsche Bank braced for continued Fed restrictions on U.S. business – sources
NEW YORK (Reuters) – Deutsche Bank AG executives expect U.S. regulators to continue to impose restrictions on its Wall Street investment bank even if it passes an annual health check, three sources familiar with the matter said. FILE PHOTO: The logo of Deutsche Bank is seen at its headquarters ahead of the bank’s annual general meeting in Frankfurt, Germany May... Read More

Rate-cut euphoria elevates S&P 500 to record high

Rate-cut euphoria elevates S&P 500 to record high
(Reuters) – The S&P 500 index touched a record high on Thursday, driven Wall Street’s expectations that the Federal Reserve will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth. The U.S. central bank left rates unchanged at the end of its two-day policy meeting on Wednesday, but pledged to “act... Read More