A U.S. District Court jury in Los Angeles on Friday found in favor of Tesla Inc boss Elon Musk in the defamation lawsuit brought against him by a British cave explorer who Musk had branded a “pedo guy” on Twitter. The plaintiff, Vernon Unsworth, was seeking $190 million damages against Musk, who during the trial estimated his net worth at $20 billion. …read more […]
Bristol-Myers Squibb Co and bluebird bio Inc said on Friday their experimental therapy for a type of multiple myeloma met the main goal in a mid-stage study. The study evaluated the efficacy and safety of the therapy, Ide-cel, in patients who had received three prior treatments for multiple myeloma, a cancer of the white blood cells, the companies said. The therapy belongs to a class of drugs known as chimeric antigen receptor T-cell therapy or CAR-T, which involves drawing white blood cells from a patient, processing them in the lab to target cancer, and infusing the cells back …read more […]
(Bloomberg) — A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running U.S. corruption investigation involving payoffs in Asia and the Middle East.The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on telecommunications business, U.S. Attorney Geoffrey S. Berman in Manhattan said in announcing the settlement that outlined tens of millions of dollars in illicit payments in five countries.“Through slush funds, bribes, gifts and graft, Ericsson conducted telecommunications business with the guiding principle that ‘money talks,’” Berman said in …read more […]
The Federal Aviation Administration (FAA) said on Friday it seeks to impose a $3.9 million fine on Boeing Co , alleging it failed to prevent the installation of defective parts on about 130 737 NG airplanes.
The Federal Aviation Administration (FAA) said on Friday it seeks to impose a $3.9 million fine on Boeing Co, alleging it failed to prevent the installation of defective parts on about 130 737 NG airplanes. In a statement on Friday, Boeing did not admit liability but said they were aware of the FAA’s concerns. The company has 30 days to respond either by paying the fine or challenging it; Boeing said it would review the penalty. …read more […]
Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve a probe into corruption, including bribing of government officials, over many years in countries including China, Vietnam, and Djibouti, the U.S. Department of Justice said in a statement on Friday.
Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve a probe into corruption, including bribing of government officials, over many years in countries including China, Vietnam, and Djibouti, the U.S. Department of Justice said in a statement on Friday. Ericsson has entered into a deferred prosecution agreement related to its scheme to make and improperly record tens of millions of dollars in payments, the Department said. The total includes a criminal penalty of more than $520 million and another $540 to be paid to the U.S. Securities and Exchange Commission in a related …read more […]
Mobile telecoms gear maker Ericsson has agreed to pay over $1 billion to resolve a foreign corruption probe, the U.S. Department of Justice said in a statement on Friday.
A federal jury in Los Angeles began deliberating on Friday to decide whether Tesla Inc boss Elon Musk defamed a British cave explorer whose lawyer said the “billionaire bully” should pay at least $190 million for branding his client a “pedo guy” on Twitter.
(Bloomberg) — Oil doubters got a surprise from Saudi Arabia on Friday: a pledge of deeper production cuts that sent futures surging for their best week since June.Hedge funds didn’t see that coming as they slashed net-bullish wagers on West Texas Intermediate crude by 24% in the days leading up to the OPEC meeting in Vienna, data released Friday show. Futures ended the week 7.3% higher in New York, closing above $59 a barrel for the first time since the aftermath of an attack on Saudi premises in September.Money managers “didn’t know that this OPEC decision was coming,” Rob Haworth, …read more […]
(Bloomberg) — An experimental therapy from Bluebird Bio Inc. and Bristol-Myers Squibb Co. benefited more than 80% of patients nearing death from an advanced form of blood cancer in a pivotal study, clearing a hurdle in its path to U.S. approval.A single high-dose infusion of the personalized medicine known as bb2121 generated a response in 44 of 54 patients with multiple myeloma, including 19 who had a complete response, the companies said in a statement Friday. Patients went a median of 11.3 months before the cancer progressed, topping expectations that it needed to stop the disease for at least six …read more […]
The Chinese electric car company is on a financial knife-edge Continue reading… …read more […]
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about U.S.-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.
The Federal Aviation Administration (FAA) said Friday it was seeking a $3.9 million fine from Boeing Co for installing defective parts on about 130 737 airplanes.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds’ top 3 stock picks returned 41.7% this year and beat […] …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
