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Pfizer cholesterol drug fizzles, hitting shares

The Pfizer logo is seen at their world headquarters in New York April 28, 2014.  REUTERS/Andrew Kelly/File photo

Pfizer Inc (PFE.N) scrapped its high-profile cholesterol fighter after its effectiveness waned over time in large clinical trials, sending its shares 2 percent lower and prompting the company to trim its 2016 earnings forecast. The largest U.S. drugmaker trimmed the top end of its 2016 profit estimate on Tuesday, citing costs of scrapping the experimental injectable medicine, called bococizumab, which ...

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U.S. stocks not moved by October’s marquee deals

An AT&T logo and communication equipment is shown on a building in downtown Los Angeles, California October 29, 2014.    REUTERS/Mike Blake/File Photo

The record dealmaking volume for October did not create a ripple effect lifting U.S. stocks as it has in the past – partly because the mergers, albeit large, were few and far between, bankers and analysts said. Though acquisitive corporate bosses generated $329 billion worth of takeovers in October, the biggest month for U.S. M&A on record, according to Thomson ...

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Vodafone UK fined a record 4.6 million pounds for failing customers

Branding for Vodafone is seen on the exterior of a shop in London, Britain, September 10, 2015. Italy has raised 462 million euros ($518 million) from the sale of spectrum to Telecom Italia and Vodafone that will be used for 4G mobile phone services. REUTERS/Toby Melville  - RTSI41

Britain has fined Vodafone (VOD.L) a record 4.6 million pounds ($5.60 million) for “serious and sustained” customer failures, including not updating accounts when mobile phone users topped up their credit to make calls. Vodafone, the world’s second-largest mobile operator, also failed to act quickly enough to identify or address the problems, the regulator said, which stemmed from a move to ...

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Failure of EU free trade deal would leave Canada stranded

Canada's Prime Minister Justin Trudeau (L) and Chairman and chief executive of Alibaba Group Jack Ma attend the China Entrepreneur Club Leaders Forum in Beijing, China, August 30, 2016. REUTERS/Jason Lee/File Photo

The looming failure of free trade talks with the European Union would derail Canada’s push to reduce its dependence on the United States and potentially complicate negotiations with other nations, such as India and China. The EU’s hopes of signing the pact this week appeared to evaporate on Monday as the Belgian federal government failed to win the consent of ...

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Netflix CEO gives conditional approval of AT&T-Time Warner deal

Reed Hastings, co-founder and CEO of Netflix, speaks during the opening night of the WSJD Live conference in Laguna Beach, California October 24, 2016.     REUTERS/Mike Blake

Netflix Chief Executive Reed Hastings said he was in favor of AT&T Inc’s planned $85.4 billion acquisition of Time Warner Inc, provided that his popular media streaming company continued to be treated fairly. Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Hastings said it was critical that Netflix’s content be treated the same ...

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For AT&T, Time Warner was always on the menu

An AT&T logo is seen at an AT&T store in New York City, October 23, 2016. REUTERS/Stephanie Keith

When Time Warner Inc’s (TWX.N) Jeff Bewkes welcomed AT&T Inc’s (T.N) Randall Stephenson for lunch at Time Warner Center in New York in late August, their meeting was supposed to be one of the catch-ups the two chief executives have had over the years. And it certainly started that way, with the two men chatting about the direction of the ...

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UK banks fear public, politicians set against them on Brexit

Britain's Prime Minister Theresa May holds a news conference after the EU summit in Brussels, Belgium October 21, 2016. REUTERS/Eric Vidal - RTX2PV88

For decades, Britain’s bankers have relied on their industry’s outsized status in the economy to find a receptive ear in government. But in the aftermath of the country’s vote to leave the European Union, the sector that generates about a tenth of national economic output is grappling with an uncomfortable new reality where economics doesn’t always trump politics. June’s vote ...

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Samsung ‘blocks’ exploding Note 7 parody videos

samsung

Samsung appears to have filed copyright claims against YouTube videos mocking its recalled Galaxy Note 7 handset. Many gamers have showcased a modification to video game Grand Theft Auto V, in which sticky bombs were switched with exploding Samsung phones. But some have reported that their videos have been blocked on YouTube following a copyright complaint. Samsung has not yet ...

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Dollar hits seven-month high, stocks set for weekly rise

A red London bus passes the Stock Exchange in London, Britain, February 9, 2011.   REUTERS/Luke MacGregor/File Photo

Global stocks were set for their first weekly gain in four weeks on Friday and the dollar rose to its highest since March, as the euro came under pressure after the European Central Bank shot down talk of tapering its easy money stance. The euro hit its lowest since March after the ECB left its ultra-loose policy unchanged on Thursday ...

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World Bank bemoans growing inequality in sub-Saharan Africa

sub saharan african

A new research released by the World Bank at a forum called “End Poverty” has bemoaned the growing level of poverty in sub-Saharan Africa. According to the report, the inequality gap between the poor and the rich has widened due to excess focus on urban development to the neglect of agriculture. Attributing the phenomenon to low investment in the agriculture ...

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