Business & Finance News
Novartis AG must face a U.S. government lawsuit accusing it of paying millions of dollars in kickbacks to doctors so they would prescribe its drugs, after a federal judge ruled in a decision released on Monday that the government had offered evidence of a “company-wide kickback scheme.”
U.S. stocks rallied on Monday, starting off the new quarter on a strong note, as upbeat manufacturing numbers from the United States and China eased worries about slowing global growth.
Novartis AG must face a U.S. government lawsuit accusing it of paying millions of dollars in kickbacks to doctors so they would prescribe its drugs, after a federal judge ruled on Monday that the government had offered evidence of a “company-wide kickback scheme.”
Chinese gaming company Beijing Kunlun Tech Co Ltd said on Monday that it was in talks with U.S. government authorities about whether it should continue to own popular gay dating app Grindr LLC.
The U.S. Department of Labor on Monday issued a proposal that would make it more difficult to prove companies are liable for the wage law violations of their contractors or franchisees, a top priority for business groups.
U.S. food group Kellogg Co has agreed to sell its Keebler biscuits brand and other assets to Nutella maker Ferrero for $1.3 billion as it focuses on its core cereals and snacks businesses.
Sweden’s Economic Crime Authority said it will not investigate Swedbank over a criminal complaint alleging money laundering brought by campaigning investor Bill Browder.
Major U.S. airlines were back up and running on Monday after a system-wide outage delayed hundreds of flights and fired-up customer complaints on social media, the second such disruption in a week.
The National Highway Traffic Safety Administration (NHTSA) said on Monday it would open a new safety defect investigation into three million Hyundai Motor Co and Kia Motors Corp vehicles for fires not caused by crashes.
Hewlett-Packard did not have to buy Britain’s Autonomy to solve the U.S. company’s other problems in 2011, its former chief executive told the $5 billion fraud trial of Mike Lynch.
Global stocks rallied on Monday, building on gains from their best quarter since 2010, as investors cheered upbeat factory activity data in China and the United States and signs of progress on the U.S.-China trade front.
Oil climbed more than 1 percent with U.S. crude futures hitting a 2019 high on Monday after tight supply and positive signs for the global economy drove both benchmarks’ largest first-quarter gains in nearly a decade.
Budget airline EasyJet warned on Monday that European travelers were holding off booking their summer holidays for fear of how the Brexit process will end, weakening demand for tickets and prices.
Shares of ride-hailing company Lyft Inc fell as much as 10.5 percent on Monday, below its initial public offering price of $72.
Wall Street surged on Monday as upbeat manufacturing data out of the United States and China, as well as further hints of progress in U.S.-China trade talks helped extend last quarter’s buoyant mood.
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