Medical diagnostic firm PerkinElmer Inc faces a federal investigation into its role in an alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests, according to three sources with knowledge of the probe and documents reviewed by Reuters.
European stock markets rose on Monday and oil prices climbed to their highest in as much as two months as a loosening of coronavirus shutdowns boosted market sentiment, even though the deadly outbreak has yet to be fully contained.
Panasonic Corp’s finance chief said the company is seeing strong demand for battery cells from U.S. partner Tesla and they are in talks to expand their joint plant in Nevada, which is now profitable.
Two weeks ago, we got up early to see several friends had sent messages to our phone overnight.
One sent a picture.
Another sent a link to an article.
They had read about “murder hornets” and were concerned. They know we’ve got hives and wanted to ensure we weren’t the next victim of these homicidal bees.
We laughed and told them to stop watching so much TV. Their brains are getting gooey.
The next day, we saw another grand headline…
“Coronavirus found in men’s semen. Can it spread through sex?”
Golly. We wonder.
Last we checked, the sensuous stuff requires breaking all current social distancing guidelines… and …read more […]
Thyssenkrupp’s powerful labor representatives are open to consolidation talks in the steel sector, a leading union official told Reuters on Monday.
Chris and Amy Hillyard opened their Oakland, California restaurant late last month for the first time since mid-March, thanks in large part to a government loan aimed at tiding over small firms during the worst of the coronavirus crisis.
Top news and what to watch in the markets on Monday, May 18, 2020. …read more […]
Spot gold was up 1% at $1,758.55 an ounce by 0931 GMT and U.S. gold futures rose 0.8% to $1,770.70. “The market continues to speculate about negative interest rates in the U.S. and extremely low interest rates and cheap money all over the world,” said Commerzbank analyst Eugen Weinberg. “Also, fears of economic crisis are unfolding given the very weak data in the United States and elsewhere.” …read more […]
(Bloomberg) — Huawei Technologies Co. warned the latest U.S. curbs on its business will inflict a “terrible price” on the global technology industry, inflaming tensions between Washington and Beijing while harming American interests.China’s largest technology company said it will be “significantly affected” by a Commerce Department decree barring any chipmaker using American equipment from supplying Huawei without U.S. government approval. That means companies like Taiwan Semiconductor Manufacturing Co. and its rivals will have to cut off the Chinese company unless they get waivers — effectively severing Huawei’s access to cutting-edge silicon it needs for smartphones and networking gear.Washington’s decision drew …read more […]
(Bloomberg) — Hong Kong’s Hang Seng Index will include dual class shares and secondary listings, allowing Chinese giants such as Alibaba Group Holding Ltd. into the city’s benchmark to provide a potential boost for passive investors who have for years struggled with lackluster returns.Hang Seng Indexes Co., announced the long-awaited change on Monday in Hong Kong, a step that will help move the benchmark away from a heavy dominance of financial shares. Dual class and secondary listings will each be subject to a 5% weighting cap, surprising some investors who had been hoping for a 10% weighting for Alibaba, for …read more […]
Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.
Japan’s SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn.
The Hang Seng Index made rule changes on Monday to allow it to incorporate Chinese internet giants Alibaba, Xiaomi and Meituan Dianping, a move set to shake up the composition of the 50-year-old index. “There is a perception that local indices like Hang Seng aren’t necessarily reflective of the opportunity set available out there,” said Michael Lai, China equities portfolio manager at Franklin Templeton. Companies from Greater China with a secondary listing in Hong Kong and those with two classes of shares carrying different voting rights will be included in the index, starting from August, with a weighting …read more […]
Huawei Technologies in its first official response to the Trump administration’s move to curb its access to global chip supplies called it “arbitrary” and said its business would be impacted.
Britain and the United States are hopeful that negotiations for a trade agreement can proceed at an accelerated pace, Britain’s department for trade said on Monday in an update on the talks after the first round concluded last week.
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