Biogen scraps Alzheimer drug trials, wiping $17 billion off its market value
Reuters – Biogen and partner Eisai Co Ltd are ending two late-stage trials for the experimental Alzheimer’s drug aducanumab, in a setback to efforts to find treatments for the disease and for Biogen’s stock, which lost more than $17 billion of its valu…
Tencent to cut reliance on China gaming after profit hit
Tencent Holdings signaled it will reduce its reliance on gaming in China, where a regulatory review and one-off investment costs led to its sharpest-ever quarterly profit drop and slowest annual profit growth in 13 years.
Biogen scraps Alzheimer drug trials, shares slump by a quarter
Biogen and partner Eisai Co Ltd are ending two late-stage trials testing the experimental Alzheimer’s drug aducanumab, marking the latest setback for an industry racing to develop treatments for the memory-robbing disease.
Indonesia seeks answers as Ethiopian crash comparisons mount
Indonesian investigators described on Thursday the panic of pilots grappling with airspeed and altitude problems in the last moments of their doomed Lion Air flight, as comparisons mounted with a disaster in Ethiopia.
U.S. jobless claims fall; mid-Atlantic factory activity rises
The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to still strong labor market conditions, though the pace of job growth has slowed after last year’s robust gains.
Wall St. set for lower open after Fed’s abrupt dovish turn
Wall Street’s main indexes were set to open lower on Thursday, after the Federal Reserve abandoned any interest rate hikes this year and flagged an expected slowdown in the economy.
With eye on Deutsche-Commerzbank, EU sends too big to fail warning
Euro zone banking watchdogs said banks planning mergers should make sure they could be wound down in a crisis, a warning likely to resonate with executives seeking to merge German giants Deutsche Bank and Commerzbank.
Finland to investigate Nokia-branded phones after data breach report
Finland’s data protection ombudsman said on Thursday he would investigate whether Nokia-branded phones had breached data rules after a report said the handsets sent information to China.
China’s Geely Auto promises more models to support sales in uncertain domestic market
China’s Geely Automobile Holdings said on Thursday that it will invest more in new energy vehicles and higher-end models after forecasting flat sales in 2019 due to uncertainty about domestic demand.
Stock futures tread water after Fed turns more accommodative
U.S. stock index futures were subdued on Thursday, a day after the Federal Reserve abandoned projections for any interest rate hikes this year amid signs of an economic slowdown.
