Biogen to cut 11 percent of workforce, programs, shares rise
(Reuters) – Biogen Inc on Wednesday announced it was cutting 11 percent of its global workforce and eliminating the development of several drugs, including one for lupus, in moves that will reduce operating expenses by about $250 million this year.
VW halts sale in Europe of new cars linked to emissions scandal
FRANKFURT (Reuters) – Volkswagen has stopped the sale within the European Union of new cars that contain software the can cheat diesel emissions tests, a spokesman for Europe’s biggest carmaker said on Wednesday.
Global stocks slip as earnings, China weakness weigh
LONDON (Reuters) – European stocks fell on Wednesday, dragged lower by negative third quarter earnings reports and the biggest fall in Chinese stocks in over a month.
NY federal prosecutor probes daily fantasy sports business: WSJ
(Reuters) – Manhattan U.S. Attorney Preet Bharara is investigating whether the business model behind daily fantasy sports companies such as DraftKings Inc and FanDuel Inc violates federal law, the Wall Street Journal reported.
Syngenta CEO leaves in wake of Monsanto deal rejection
ZURICH (Reuters) – Syngenta Chief Executive Mike Mack is stepping down as head of the Swiss agrochemicals group just two months after the company spurned a $47 billion takeover approach from U.S. rival Monsanto .
Zero-emission cabs, sports cars part of Chinese-British deals
LONDON (Reuters) – Chinese investment into low carbon London black cabs and a deal involving luxury sports carmaker Aston Martin are part of a series of business announcements on Wednesday during the state visit by China’s president to London.
Intel says may invest up to $5.5 billion in China memory chip plant
(Reuters) – Intel Corp said it may invest up to $5.5 billion in manufacturing semiconductors in China, stepping up efforts to improve ties with Beijing as it seeks new revenue streams while demand for its core computer processing chips falters.
Dispute over rigged ship engine tests adds to Volkswagen’s woes
OSLO (Reuters) – Norwegian shipowner I.M. Skaugen has disclosed it is seeking $50 million in compensation from a marine unit of Volkswagen for rigging performance tests of ship engines produced over a decade ago.
Credit Suisse posts third-quarter profit drop ahead of strategy update
ZURICH (Reuters) – Swiss bank Credit Suisse on Wednesday posted a bigger-than-expected drop in third-quarter net profit by 24 percent.
Japan export growth slows sharply, raising fears of recession
TOKYO (Reuters) – Japan’s annual export growth slowed to a crawl in September as shrinking sales to China hurt the volume of shipments, raising fears that weak overseas demand may have pushed the economy into recession.
