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UPDATE 2-Drug companies reach settlement as opioid trial set to begin

Four drug companies reached a last-minute legal settlement over their role in the opioid addiction epidemic just as a nine-week trial was scheduled to start in Cleveland, the Wall Street Journal reported Monday. Drug distributors AmerisourceBergen Corp, Cardinal Health Inc and McKesson Corp and Israel-based drugmaker Teva Pharmaceutical Industries Ltd will announce the settlement on Monday, according to the report. …read more […]

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US STOCKS-Futures up on hopes of progress in trade war; Boeing shares slip

Wall Street looked set to start the week on an upbeat note on Monday, as investors hoped for progress in resolving the U.S.-China trade war, but a fall in Boeing’s shares kept a lid on early gains. Chinese Vice Premier Liu He said on Saturday that Beijing would work with Washington to address core concerns, adding to optimism from President Donald Trump’s comments on Friday that he expected a trade deal to be signed by mid-November. Microsoft Corp rose 0.8% in premarket trading after German business software group SAP said it had signed a three-year cloud partnership with …read more […]

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TIMELINE-Popular heartburn medicine Zantac pulled off store shelves

The U.S. Food and Drug Administration and international health authorities are investigating the safety of Zantac heartburn medicine, also sold generically as ranitidine, after finding a probable cancer-causing impurity in the drug. Ranitidine is the newest drug in which presence of cancer causing impurities have been found. Glaxo Holdings Ltd, now a part of GlaxoSmithKline PLC , receives its first U.S. FDA approval for Zantac as a short-term treatment of a common form of ulcers. …read more […]

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Russia Willing to Pay to Lure Shippers to the Arctic

(Bloomberg) — Russia wants to make its Arctic waters more attractive to shippers than the Suez Canal and could be willing to compensate for potential risks to make that happen.President Vladimir Putin has made development of the Arctic one of Russia’s top long-term priorities and huge projects to export liquefied natural gas via the Northern Sea Route have already lured investors above the Polar Circle. But shippers of other products remain reluctant to make the detour from the Suez Canal toward the Arctic due to multiple risks.To deliver a cargo via the Northern Sea Route today, a shipping company needs …read more […]

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The Latest: WikiLeaks founder Assange appears in UK court

WikiLeaks founder Julian Assange has appeared in court for a hearing on his extradition case. Assange raised a fist in a defiant gesture to acknowledge his supporters in the gallery at Westminster Magistrates’ Court for a case management hearing. Former Home Secretary Sajid Javid signed an order in June allowing Assange to be extradited. …read more […]

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JPMorgan Warns U.S. Money-Market Stress Likely to Get Much Worse

(Bloomberg) — JPMorgan & Co. says the money-market stress that sent short-term borrowing rates surging last month is likely to get much worse despite the Federal Reserve’s attempts to inject billions of dollars into the financial system.The Fed has offered overnight loans and started buying up to $60 billion of U.S. Treasury bills a month in an effort to ease pressure in the vast repo market, where banks typically lend their assets in exchange for short-term financing. Secured lending rates shot up in late September, with analysts pointing to scarcity of interbank reserves as well as regulations that limits the …read more […]