France’s competition authority fined U.S. health-care group Johnson & Johnson 25 million euros ($29.62 million) on Wednesday after it found the company had deliberately slowed market access to generic copies of its painkiller Durogesic. Durogesic is sold as a skin patch to control ongoing moderate to severe pain and is often prescribed in cancer cases. […]
Read moreDespite a somewhat quiet few weeks for oil, trader Todd Gordon says there’s one trend in the charts that’s signaling a bounce for the commodity. The founder of TradingAnalysis.com is looking at a triangle pattern in particular that has formed in the chart of USO, the exchange-traded fund that tracks oil. Gordon noted that while […]
Read moreCanadian software maker BlackBerry reported third-quarter results on Wednesday that beat analysts’ forecasts, helped by an increase in business software sales and licensing revenue, sending its stock up more than 7 percent in premarket trading. The company reported adjusted earnings of 3 cents a share in the quarter ended Nov. 30, better than the average […]
Read moreSomething spooked homebuyers last week, and it wasn’t interest rates, because they fell. Even refinancers retrenched. Total mortgage application volume dropped 4.9 percent from the previous week, according to the Mortgage Bankers Association. Applications are now 8 percent lower than the same week one year ago. This is the slowest time of the year for […]
Read moreThe tax bill is almost done, so the debate is whether to sell on the news. It may be happening already. Stocks retreated on Tuesday, and even a notable move up in 10-year Treasury yields failed to move bank stocks up. There’s reason to consider that this month’s notable rally should at the very least […]
Read moreThe creator of litecoin has sold off all of his holdings in the cryptocurrency he created. Charlie Lee, who founded litecoin in 2011, said on Reddit Wednesday that he had “sold and donated” all of his litecoin tokens over the past few days — except for some physical ones he keeps as “collectibles.” Lee said […]
Read moreCurrency, United States Finance
French prime minister defends his $415,000 private flight from Tokyo to Paris
The French prime minister has defended his decision to charter a private aircraft at a cost of 350,000 euros ($415,000) when a government plane was also available. The office of Edouard Philippe hired an Airbus A340 to fly him and his delegation first class back to Paris from Tokyo, Japan, on December 6. However, it […]
Read moreA disconnect between equities, bonds and the currency market as tax reform legislation nears passage has one equity strategist concerned. The S&P 500 has rallied to record highs as investors price in hopes of corporate tax cuts, but the Treasury market and U.S. dollar are not behaving in a similarly bullish manner, said Matt Maley, […]
Read moreBlame the stock market’s rally for the bitcoin craze that has swept financial markets these last few weeks. While debate rages over whether the digital currency is in a bubble, several market analysts say the cryptocurrency hype would not be possible unless financial markets overall were in the late stage of a bull market or […]
Read moreCurrency, United States Finance
Power, rivalry and missiles: The dangers of Saudi Arabia and Iran's 'unpredictable' conflict in Yemen
Recent changes in the dynamics of Yemen’s civil conflict — widely seen as a proxy war between rivals Saudi Arabia and Iran — are making it very hard to predict what could happen next in the Middle East. Tensions between Saudi Arabia and Iran ramped up Tuesday following another missile launch from Houthi rebels in […]
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