Merck said Tuesday its cholesterol drug Anacetrapib met its primary goal in a study, significantly reducing coronary heart disease. Shares of the pharmaceutical company spiked more than 3 percent in premarket trade and were last trading about 1.6 percent higher. Results of the study on 30,000 individuals will be presented on Aug. 29 at a […]
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Salesforce Chief Executive Marc Benioff told CNBC on Tuesday that despite an unprecedented rally among high-growth technology giants, some FANG stocks still remain undervalued. The so-called FANG technology stocks refer to Facebook, Amazon, Netflix and Google (through parent company Alphabet). Some investors also recognize Apple as an additional ‘A’ to the FANG acronym. “I think […]
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The summer doldrums appear to have hit stocks, but one trader has a way to play the slow, quiet market. While the S&P 500-tracking ETF (SPY) has moved into a “June consolidation,” Todd Gordon of TradingAnalysis.com believes that SPY can still break out of its trading range to move higher. But low implied volatility in […]
Read moreU.S. Commerce Secretary Wilbur Ross has at the last minute pulled out of a trip to Germany on Tuesday, the German economy ministry said, not giving a reason for the cancellation which comes at a time of friction with Washington over trade policy. He had been due to meet German Economy Minister Brigitte Zypries and […]
Read moreDALIAN, China — China kicked off the World Economic Forum’s annual summer meeting with a much-anticipated speech by Premier Li Keqiang, which offered a rare glimpse into what authorities are thinking about the world’s second-largest economy. But what China’s second-most powerful man didn’t say was just as important as what he did. Li’s Tuesday speech […]
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Uber’s tumultuous six months of scandal is likely to mark the first of many equality crises in the tech industry, according to Salesforce Chief Executive Marc Benioff. Speaking on the sidelines of the World Economic Forum in Dalian, China, Benioff warned that tech giants would need to take their capabilities to another level in order […]
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Italy’s convicted former Prime Minister Silvio Berlusconi may have regained public favour at a local level but he is “absolutely not” in line to make a return to frontline politics, Carla Ruocco of opposition party Five-Star Movement told CNBC. Berlusconi, who has served four terms as Prime Minister but was banned from office amid tax […]
Read moreDALIAN, China — Technology is transforming the world, but if businesses and governments aren’t careful, innovation could hurt society by exacerbating inequality, rather than making lives better. That was the message from global business leaders Tuesday in Dalian, China, as the emphasis lay squarely on cutting-edge creations that benefit everyone. The event, the World Economic […]
Read moreQueen Elizabeth II’s income will almost double this year, royal accounts published Tuesday showed, amid an increase in the amount of taxpayer funds directed to the British royal family to cover extensive repairs at Buckingham Palace. Official figures show the Crown Estate, which owns much of London’s West End, made £328.8 million ($418.6 million) in […]
Read moreChinese CEOs are less optimistic in their growth outlooks for the world economy than their global peers, according to a study released by professional services firm KPMG on Tuesday. Only 54 percent of CEOs at China-based firms surveyed say they’re confident in the global economic growth outlook, versus 69 percent of top executives at firms […]
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