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Fake doctors, misleading claims drive OxyContin China sales

OxyContin is a dying business in the United States. Purdue Pharma, owned by the billionaire Sackler family, is collapsing under an avalanche of lawsuits that accuse the company of using false claims to push its blockbuster painkiller in the U.S., profiting as an unsuspecting nation slipped into a devastating drug crisis. Meanwhile, another company owned by the family in China has been promoting OxyContin with the same tactics Purdue was forced to abandon in the U.S. as opioid overdose deaths soared, according to interviews with four current and former employees and more than 3,300 pages of training and …read more […]

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Emirates close to buying 30 Boeing 787 in fleet compromise deal: sources

Emirates and Boeing are fine-tuning a deal that could see the Dubai carrier order around 30 787 Dreamliners as part of wider discussions about amending a separate order for 150 Boeing 777X jets, people familiar with the matter said on Wednesday. Emirates tentatively ordered 40 Dreamliners in 2017 but “tough” last-minute talks to finalize the order this week have hinged on negotiations over the scale of its commitment to the upcoming 777X after it ran into delivery delays, they said. It remained unclear how far a restructuring of the 777X order would be discussed officially at the …read more […]

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AI Poised to Impact High-Skill U.S. Jobs Including Finance, Tech

(Bloomberg) — Artificial intelligence is coming for America’s high-paid professions as it creates winners and losers across the labor market like never before.White-collar jobs and better-educated occupations along with production workers are among the most susceptible to AI’s spread into the economy, according to a Brookings Institution report Wednesday that draws on a new analysis of patent data by a Stanford University economist.“Just as the impacts of robotics and software tend to be sizable and negative on exposed middle- and low-skill occupations, so AI’s inroads are projected to negatively impact higher-skill occupations,” researchers Mark Muro, Jacob Whiton and Robert Maxim …read more […]

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Emirates close to buying 30 Boeing 787 in fleet compromise deal -sources

Emirates and Boeing are fine-tuning a deal that could see the Dubai carrier order around 30 787 Dreamliners as part of wider discussions about amending a separate order for 150 Boeing 777X jets, people familiar with the matter said on Wednesday. Emirates tentatively ordered 40 Dreamliners in 2017 but “tough” last-minute talks to finalise the order this week have hinged on negotiations over the scale of its commitment to the upcoming 777X after it ran into delivery delays, they said. It remained unclear how far a restructuring of the 777X order would be discussed officially at the Dubai …read more […]

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Nifty, Sensex rise; Reliance, PSU energy stocks gain

The NSE Nifty 50 index rose 0.6% to 12,014, while the S&P BSE Sensex gained 0.4% to 40,638.7. Telecom stocks advanced further after Reliance Jio, owned by billionaire Mukesh Ambani’s Reliance Industries, said it planned to hike tariffs in the next few weeks. Rivals Bharti Airtel Ltd and Vodafone Idea Ltd have already announced their plans to raise rates from next month. …read more […]

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The Sun Stops Shining for Indian Property Mogul

(Bloomberg Opinion) — Interest rates could surge, exchange rates may collapse, the sun might stop shining brightly.Every conceivable danger an investor needs to be aware of in an initial public offering is discussed in the August prospectus of Sterling and Wilson Solar Ltd., among the world’s biggest engineering contractors to solar farms. And yet, the risk that struck hapless shareholders was buried under related-party transactions on Page 37: that the Indian company’s storied founders won’t keep their promise.The 42% carnage in Sterling and Wilson shares over three trading sessions in Mumbai is the story of this broken pledge. Controlling shareholders …read more […]