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Ford's UAW members vote to ratify new four-year contract

The United Auto Workers union said on Friday that rank-and-file members at Ford Motor Co have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker. Talks with FCA are expected to begin on Monday, a UAW spokesman said. The union said 56.3% of Ford’s hourly workers voted to approve the deal, which allowed the company to avoid a strike like the one that cost its larger rival General Motors Co about $3 billion. …read more […]

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U.S. charges another ex-JPMorgan executive with alleged market manipulation

The Department of Justice has charged another former JPMorgan Chase & Co executive with alleged racketeering and manipulating precious metals prices between 2008 and 2016, the latest in a string of similar prosecutions. The indictment against Jeffrey Ruffo, who is also charged with other federal crimes including conspiracy to commit wire fraud, is the result of an “ongoing investigation”, federal prosecutors said in a statement. Ruffo is the sixth person to be charged with alleged fraud in connection to JPMorgan’s precious metals desk. …read more […]

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UPDATE 1-Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug

Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell Celgene’s psoriasis drug Otezla, the Federal Trade Commission said in a statement on Friday. Bristol-Myers Squibb said in a statement Friday that the approval meant it had all the needed regulatory approvals and would close the acquisition on Wednesday. Amgen has agreed to buy Celgene’s Otezla business, the company said in a statement. …read more […]

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Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug

Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell Celgene’s psoriasis drug Otezla, the Federal Trade Commission said in a statement on Friday. Bristol-Myers Squibb said in a statement Friday that the approval meant it had all the needed regulatory approvals and would close the acquisition on Wednesday. Amgen has agreed to buy Celgene’s Otezla business, the company said in a statement. …read more […]

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T-Mobile’s Legere Isn’t Taking WeWork Job, Relieving Investors

(Bloomberg) — T-Mobile US Inc. Chief Executive Officer John Legere isn’t taking a job running WeWork, contrary to speculation this week, a person familiar with the matter said.Legere, 61, is sticking with T-Mobile for now, according to the person, who asked not to be identified because the deliberations are private. CNBC reported earlier that Legere wasn’t going to WeWork, sending the shares up as much as 3.5% on Friday.Legere, a shaggy-haired, self-appointed industry rebel, has led a comeback at T-Mobile, culminating in a deal last year to merge with Sprint Corp. That transaction hasn’t yet cleared regulatory hurdles, and the …read more […]

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Warren Maps 3-Year Timeline Toward Medicare for All; Stocks Rise

(Bloomberg) — Elizabeth Warren explained Friday how she plans to gradually move the U.S. into her government-run Medicare for All system, sending managed-care and hospital stocks higher as the Democratic presidential candidate mapped out her three-year design to fundamentally change the way Americans get health care.Warren said in a Medium post Friday that she would ask Congress to use a legislative maneuver to put children and poor families under Medicare For All in her first 100 days in the White House, while not actually fully implementing her $20.5 trillion plan until her third year in office.A rally in managed-care and …read more […]

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Roku Says It Won’t Be Long Before Streaming Revenue Eclipses TV

(Bloomberg) — Streaming video has been one of the biggest growth stories of the past several years, but even with all the attention that has been paid to the space, the industry is nowhere near full maturity, according to an executive at streaming-platform Roku Inc.“In the long run, the total addressable market for streaming video is all TV money, period,” said Scott Rosenberg, a senior vice president and general manager of Roku’s platform business. Over-the-top (OTT) streaming “lets advertisers do things that they’ve gotten used to in digital but which hasn’t been possible on TV,” such as individually targeting consumers …read more […]