Sanofi pegs U.S. drug price rises to below healthcare inflation
(Reuters) – French drugmaker Sanofi has pledged to peg U.S. drug price rises to below healthcare inflation in a move that limits increases for any product this year to 5.4 percent, unless there are exceptional circumstances.
Home Capital says unnamed party plans to buy $1.10 billion in mortgages
(Reuters) – Home Capital Group Inc said on Tuesday a third party, which it did not name, intends to buy up to C$1.50 billion ($1.10 billion) in mortgages, an offer than comes as Canada’s biggest non-bank lender attempts to halt customer withdrawals.
American Airlines raises second-quarter forecast for key revenue metric
(Reuters) – American Airlines Group on Tuesday raised its forecast for total revenue per available seat mile (TRASM), a key revenue metric, for the second quarter, citing improving yields and lower estimated fuel prices.
Wall Street loses oomph but Apple crosses $800-billion mark
(Reuters) – The S&P 500 fell on Tuesday after edging up to an intra-day record high for the second straight session, while Apple became the first U.S. company to close with a market capitalization above $800 billion.
Once tainted, Portugal’s cork industry fights back
LISBON (Reuters) – A decade ago, shares in the world’s largest cork producer, Corticeira Amorim , didn’t look like a great bet.
Allergan posts loss as it writes down Teva holdings
(Reuters) – Botox-maker Allergan Plc posted a first-quarter loss on Tuesday as it took a nearly $2 billion write-down on the value of its stake in Teva Pharmaceutical Industries , which has lost more than 40 percent of its value since last year.
Valeant swings to profit on tax gain, raises forecast
(Reuters) – Canada’s Valeant Pharmaceuticals International Inc reported its first profit in six quarters, helped by a one-time tax gain, and raised its full-year earnings forecast, sending its U.S. shares up 13 percent in premarket trading.
Office Depot profit beats as fewer stores help tighten costs
(Reuters) – Office supply chain Office Depot Inc reported a bigger-than-expected quarterly profit as expenses fell, in part due to a lower store count, sending the retailer’s shares up as much as 7 percent on Tuesday.
Hermes urges VW shareholders to not discharge management, sup board
BERLIN (Reuters) – Investment advisory firm Hermes EOS has urged Volkswagen shareholders not to clear the carmaker’s management and supervisory boards from responsibility for actions taken in 2016, citing VW’s failure to resolve long-standing corporat…
Hedge fund goes to court seeking to oust Akzo Nobel chairman
AMSTERDAM (Reuters) – Elliott Advisors, the hedge fund that has been pushing Dutch paint maker Akzo Nobel to enter takeover talks with U.S. peer PPG Industries, said on Tuesday it had launched legal action to try to oust Akzo chairman Antony Burgmans….
