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Ericsson signs patent deal with Apple, shares soar
Swedish mobile telecom gear maker Ericsson said it had signed a patent license deal with Apple Inc over technology that helps smartphones and tablets connect to mobile networks, sending its shares up much as 8 percent. The deal ends a year-long dispute with Apple, one of the biggest legal battles in mobile technology and Ericson said… Originally posted here: Ericsson signs patent deal with Apple,... [Read more]
KaloBios fires Shkreli as CEO
(Reuters) – Drugmaker KaloBios Pharmaceuticals Inc said it fired Martin Shkreli as chief executive on Dec. 17, the day he was arrested on charges of a securities fraud. Shkreli, who has become the poster child for the issue of soaring prices for prescription medications, has already stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, in addition to resigning from KaloBios'... [Read more]
Martin Shkreli says securities fraud charges are ‘baseless’
By Frank McGurty NEW YORK (Reuters) – Martin Shkreli, the pharmaceuticals entrepreneur vilified for jacking up the price of a life-saving AIDS drug, said on Saturday that unrelated securities fraud allegations that resulted in his arrest this week were “baseless and without merit.” Federal prosecutors have alleged that Shkreli was running a Ponzi-like scheme at his former hedge fund... [Read more]
Fed to raise rates again in March, follow up with fewer hikes: poll
The U.S. Federal Reserve will raise interest rates again in the next three months, according to two-thirds of economists polled by Reuters, although many say rates won't rise as quickly next year as policymakers have suggested. The Fed hiked rates for the first time in nearly a decade on Dec 16, confident the U.S. economy can … View original post here: Fed to raise rates again in March,... [Read more]
Crude falls after U.S. Fed rate hike, inventory gains
By Aaron Sheldrick TOKYO (Reuters) – Crude futures fell in Asian trade on Thursday, adding to sharp losses the previous session after the Federal Reserve raised rates for the first time in nearly a decade and official figures showed Read the rest here: Crude falls after U.S. Fed rate hike, inventory gains Read More →
Fed raises interest rates, citing ongoing U.S. recovery
By Howard Schneider and Jason Lange WASHINGTON (Reuters) – The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis. The U.S. central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of … See the original... [Read more]
Qualcomm decides against breakup, says current structure best
Qualcomm Inc has decided not to split into separate chipmaking and technology licensing businesses, concluding a six-month strategic review instigated by hedge fund Jana Partners. San Diego-based Qualcomm, the biggest maker of chips used in mobile phones, said on Tuesday its current structure offered unique strategic benefits that cannot be replicated. Qualcomm, whose earnings have slumped by more... [Read more]
The Fed Awakens
Barring a shock, the Federal Reserve will raise U.S. interest rates on Wednesday for the first time since June 2006, a full year before the global financial crisis began. Data releases will meanwhile give clues to the robustness of other economies, some of which are seen as vulnerable to Here is the original: The Fed Awakens Read More →
Dow, DuPont set $130 billion megamerger, could spark more deals
Dow and DuPont shares fell on Friday after spiking earlier in the week following reports of negotiations. Executives from both companies said the agrichemicals businesses have little overlap and any asset sales would likely be minor. Dow shareholders would own 52 percent of the new company after preferred shares are converted, the companies said. Excerpt from: Dow, DuPont set $130 billion megamerger,... [Read more]
VW says only small group to blame for emissions scandal
Volkswagen said on Thursday only a small group of employees was responsible for cheating U.S. diesel emissions tests and there was no indication board members were involved in the biggest business crisis in the carmaker's history. Chairman Hans Dieter Poetsch said investigations into the affair were going well, but the scandal was the result of a “chain of errors” and it would still... [Read more]