Trump vows to bring down drug prices, doesn’t say how
NEW YORK (Reuters) – President-elect Donald Trump took aim at drugmakers on Wednesday by promising in a magazine interview that “I’m going to bring down drug prices,” sending shares of pharmaceutical and biotechnology companies lower.
Billionaire Carlos Slim well placed to clinch Mexico City airport terminal
MEXICO CITY (Reuters) – A consortium including billionaire Carlos Slim’s building unit submitted the lowest bid on Wednesday in a tender for the terminal project at Mexico City’s new $13 billion airport as the telecoms tycoon looks to edge out two riv…
BlackRock adjusts leadership team for its largest mutual fund
NEW YORK (Reuters) – BlackRock Inc is making leadership changes to its biggest mutual fund.
Exclusive: U.S. regulator set to fail Wells Fargo on community lending test – sources
WASHINGTON (Reuters) – A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank.
Dow transports set closing record high after 2-year wait
NEW YORK (Reuters) – The Dow Jones transportation average hit a record high close, led by increases in shares of Norfolk Southern , Union Pacific and FedEx Corp , giving some investors hope the stock market is poised for further gains.
AT&T touts Time Warner merger at U.S. Senate hearing
WASHINGTON (Reuters) – AT&T Inc’s planned $85.4 billion acquisition of Time Warner Inc will increase innovation and bring “better-priced options” to consumers upset by high cable bills, AT&T Chief Executive Randall Stephenson told lawmakers on Wednesday.
EU takes action against UK, Germany over VW emissions scandal – sources
BRUSSELS (Reuters) – The European Union will take action on Thursday against seven nations including Germany and Britain for failing to police car emissions rules, EU sources said, after the Volkswagen cheating scandal showed suspicious behavior in the…
Trump chooses pro wrestling magnate Linda McMahon to head SBA
WASHINGTON (Reuters) – U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration.
Wall St. run continues; Dow transports hit record
NEW YORK (Reuters) – Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the presidential election of Donald Trump and a new high for transportation stocks added to the bullish tone.
Oil slips on bearish U.S. inventory report, doubts over OPEC cut
NEW YORK (Reuters) – Oil prices slid on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years.
