John Kapoor, the founder of Insys Therapeutics Inc, on Thursday could be sentenced to several years in prison and ordered to forfeit up to $113 million for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis.
Lawyers for Huawei Chief Financial Officer Meng Wanzhou will respond Thursday to the Canadian prosecutor’s arguments calling for Meng to be extradited to the United States on bank fraud charges.
A group of Blue Cross Blue Shield insurers is investing $55 million in a new venture with a non-profit generic drug manufacturer to try to offer cheaper prices on pharmacy drugs to their members, the companies said on Thursday.
Daimler has been forced to reduce production targets for its Mercedes-Benz EQC electric car from about 60,000 to 30,000 this year, due to a supply shortage of battery cells from LG Chem, Manager Magazin said on Thursday. Daimler wanted to sell around 25,000 EQC vehicles in 2019, but only managed to build around 7,000 Manager Magazin said. Daimler was not immediately available for comment. …read more […]
Morrisons , Britain’s No. 4 supermarket group, plans to cut 3,000 management jobs as part of a major restructuring of its workforce that will see 7,000 store jobs created, it said on Thursday.
(Bloomberg) — Wells Fargo & Co.’s main regulator is preparing civil charges against former managers related to their roles in its retail banking scandals, people familiar with the matter said.The Office of the Comptroller of the Currency has been readying so-called notices of charges against as many as 10 individuals, and may reach settlements with some, the people said, asking not to be identified because the discussions aren’t public. Carrie Tolstedt, who ran Wells Fargo’s sprawling community bank, former chief administrative officer Hope Hardison and onetime chief auditor David Julian may be among those facing the charges, the people said.An …read more […]
The euro remained stuck in its recent trading range on Thursday before the European Central Bank’s meeting, while China’s yuan dropped on fears about the spread of a virus.
Fiat Chrysler’s Jeep Grand Cherokee and Suzuki’s Vitara diesel models both break emissions rules and must be fixed or face a ban on sales across Europe, the Dutch road authority ruled on Thursday.
The Philadelphia-based cable company reported fourth-quarter revenue of $28.4 billion, beating the Wall Street consensus estimate of $28.17 billion, according to IBES data from Refinitiv. The business generated fourth-quarter revenue of $5.04 billion, beating the average estimate of $4.82 billion. Comcast continued to lose cable TV subscribers as viewers flocked to streaming services, but those losses happened at a greater rate than Wall Street expected. …read more […]
Procter & Gamble Co reported lower-than-expected quarterly sales on Thursday, its first miss in five quarters, hurt by a stronger dollar, sending its shares down about 2%.
Comcast Corp’s bid to counter cord-cutting with profitable broadband customers continued to pay off in the fourth quarter, as the company on Thursday beat Wall Street’s revenue and profit estimates.
Mexico is playing a risky game of hide and seek with the oil market.
Southwest Airlines Co reported a 21% fall in fourth-quarter profit on Thursday due to Boeing 737 MAX costs and warned that it will likely extend flight cancellations beyond June as the jets look set to remain parked well into this year.
The Dutch road authority has recalled Jeep Cherokees throughout Europe for a software update, it said on Thursday, after completing an investigation into fraudulent emissions strategies by Suzuki and Jeep diesel models.
Top news and what to watch in the markets on Thursday, January 23, 2020. …read more […]
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