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Novartis wins Medicaid approval for new sickle cell drug in key U.S. states

The approvals from the Florida and Alabama Medicaid health programs for the poor and disabled mark exceptionally fast acceptance for the treatment, which can cost up to $113,000 annually for an individual patient, excluding discounts, said Ameet Mallik, who heads the Swiss drugmaker’s oncology division. In November, the U.S. Food and Drug Administration approved Adakveo and Global Blood Therapeutic Inc’s Oxbryta, which carries a list price of $125,000 per year. …read more […]

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Apple Has Secret Team Working on Satellites to Beam Data to Devices

(Bloomberg) — Apple Inc. has a secret team working on satellites and related wireless technology, striving to find new ways to beam data such as internet connectivity directly to its devices, according to people familiar with the work.The Cupertino, California-based iPhone maker has about a dozen engineers from the aerospace, satellite and antenna design industries working on the project with the goal of deploying their results within five years, said the people, who asked not to be identified discussing internal company efforts. Work on the project is still early and could be abandoned, the people said, and a clear direction …read more […]

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Mahjong, cartoons coming to Tesla car screens in China next year

BEIJING/SHANGHAI (Reuters) – Tesla Inc said on Friday it will offer its Chinese customers more video and gaming content next year, marking the first time the automaker will offer internet-connected games in its vehicles. Owners will also be able to entertain themselves with three online games – mahjong and two versions of poker from Chinese tech-giant Tencent . The games and videos will only start after the cars are properly parked, Tesla said, adding that new offerings will come sometime in first quarter. …read more […]

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$11,769,509,000,000 Reasons to Cheer 2020

(Bloomberg Opinion) — Traders and investors are tiptoeing nervously into 2020, after a stellar 2019 in which returns from almost every asset class outpaced their averages for the previous decade. The following charts illustrate why trading with cautious optimism might be the way to approach the coming year.THE TREND IS YOUR FRIENDBuying and holding anything from stocks to bonds to commodities proved to be a winning strategy this year.To be sure, those stock market returns are flattered by the slump in global equities in the fourth quarter of last year. But rumors of the death of the bull market have …read more […]

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Gold inches lower on trade cheer; focus on U.S. GDP data

U.S. Treasury Secretary Steven Mnuchin said on Thursday the United States and China would sign their so-called ‘Phase one’ trade pact at the beginning of January, adding that it would not be subject to any renegotiation. U.S. gold futures were down 0.1% to $1,482.70 per ounce. “The real driver for gold markets has been trade war risk and with its de-escalation in phase one on the back of Mnuchin’s comments is not bullish for gold,” said Stephen Innes, a market strategist at AxiTrader. …read more […]

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U.K. Bank Ring Fence May Be Storing Up as Much Trouble as Brexit

(Bloomberg) — Britain took a step into uncharted territory this year, aiming to make its banks safer. But it might have just driven risk to places where it’s less manageable than before.The experiment — the result of an analysis of how the financial crisis damaged Britain’s economy — began Jan. 1. Big lenders were “ring-fenced”: retail deposit-taking was legally separated from riskier activities, primarily investment banking. Advocates compared ring-fencing to the U.S. Glass-Steagall act, passed after the 1929 crash.Britain’s big international players, Barclays Plc and HSBC Holdings Plc, are now barred from moving much of their domestic earnings into their …read more […]

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Tesla Bucks China Car Slump as Registrations Soar in November

(Bloomberg) — Tesla Inc. bucked a downturn in the world’s biggest electric-vehicle market as new-car registrations soared 14-fold last month in China, giving the Model 3 maker some momentum as it prepares to begin deliveries from its multibillion-dollar Shanghai factory.Registrations of Tesla cars climbed to a five-month high of 5,597 vehicles in November, compared with 393 a year earlier, according to state-backed China Automotive Information Net, which gathers and reports car-industry data.Fears that China, the world’s biggest auto market, would raise tariffs on U.S.-made cars in December probably helped bolster sales, according to Bloomberg Intelligence auto analyst Steve Man. But …read more […]

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Hedge Funds Have Never Been More Bullish On Collectors Universe, Inc. (CLCT)

It seems that the masses and most of the financial media hate hedge funds and what they do, but why is this hatred of hedge funds so prominent? At the end of the day, these asset management firms do not gamble the hard-earned money of the people who are on the edge of poverty. Truth […] …read more […]