Stephen Nicholson

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Novartis 1Q profit jumps 12 percent as heart drug sales soar

GENEVA (AP) — Swiss pharmaceuticals company Novartis says net income jumped 12 percent in the first quarter, pointing to explosive growth in its heart-failure drug Entresto as its rollout continues, and powerful double-digit percentage growth for psoriasis drug Cosentyx.<p>The Basel-based powerhouse, …

Novartis

A willingness to fix the euro's flaws is fading fast

FRANKFURT, Germany (AP) — When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro — the structural flaws that threatened to break apart the shared currency in 2010-12.<p>Suddenly, those prospects for …

Europe

P&G vitamin deal; Amazon's Prime number; Qualcomm's Chinese hurdle

<b>1. Vitamin deal:</b> Procter & Gamble (PG) announced Thursday it is buying the consumer health business of German pharmaceutical company Merck KGaA (MKGAF) for about €3.4 billion ($4.2 billion).<p>P&G said the deal will help it expand its vitamin and health supplements business, giving it broader …

Stock Markets

Takeda shares down 3 percent after Shire rejects $63 billion offer

TOKYO (Reuters) - Japan's Takeda Pharmaceutical Co Ltd (4502.T) shares were down 3 percent in morning trading in Tokyo on Friday after rare disease drug maker Shire Plc (SHP.L) rejected its $63 billion cash-and-stock acquisition offer.<p>Shire said it had received three conditional proposals from …

Biotechnology

Qualcomm cutting 1,500 jobs at its California offices

(Reuters) - Chipmaker Qualcomm Inc (QCOM.O) is cutting 1,500 jobs across multiple divisions at its offices in California, as part of its promise to investors to cut annual costs by $1 billion.<p>The company, which has about 33,800 employees as of Sept.24, informed about its job cut plans in California …

San Diego

Engine on Southwest Jet Not the Only One to Develop Cracks

The engine that failed so catastrophically on a Boeing 737 plane operated by Southwest Airlines this week is not the only jet engine model with problems that have caught the eye of safety officials.<p>Like the engine on the Southwest jet, two others — one used on the Boeing 787 Dreamliner and another …

Aviation

Pricey mortgages: Homeownership is getting tougher this spring as rates keep rising

LOS ANGELES — Higher mortgage rates are making the already challenging task of buying an affordable home even tougher for many Americans this spring.<p>In metro areas such as Denver, buyers are rushing to close a deal before mortgage rates get too high. In Dallas, some are embracing longer commutes to …

Real Estate

Total, With Energy Industry in Flux, Makes $1.7 Billion Bet on a Utility

LONDON — One major energy company has invested in a solar power developer. Another is lifting its investments in wind energy. One has even placed a small bet on nuclear fusion.<p>Worried that pressures to mitigate climate change could eventually curb demand for their fossil fuel products, oil and gas …

Energy

Eric Schmidt is purposely being kept in the dark about Google's push to win a $10 billion cloud deal away from Amazon

Eric Schmidt, once the bespectacled face of Google, is now purposely being kept in the dark about Google's relationship with the military.<p>Schmidt, who joined Google as its CEO in 2001, became its executive chairman in 2011. He worked with the company's founders, Larry Page and Sergey Brin, to grow …

Amazon Web Services

Qualcomm May Be Collateral Damage in a U.S.-China Trade War

WASHINGTON — A looming trade war between the United States and China has put Qualcomm, one of America’s largest technology companies, squarely in the middle of the battlefield.<p>A major supplier in both China and the United States, the San Diego-based chip maker has long managed to play the trading …

China

Dominion's $8 Billion Scana Merger Dealt Another Blow in S.C.

Dominion Energy Inc.’s $7.9 billion takeover of troubled utility-owner Scana Corp. is looking even less likely to happen after a bill passed by South …

South Carolina

Virgin America's Brand Will Disappear On April 24

Despite the fact that Alaska Airlines and Virgin America have been a merged carrier for several months, many facets of the two former companies are still quite separate. It’s still possible to book flights on “Virgin America” through virginamerica.com, for example, while crew, aircraft and many …

Virgin America

London's skyline soars with record 510 tall buildings in pipeline

Construction has begun on cluster of skyscrapers that will transform city over next decade<p>London’s skyline is to be transformed over the next decade with a record 510 tall towers, more than 20 storeys high, planned or under construction. The total is up from 455 towers in the pipeline in 2016, …

Skyscrapers

P&G to acquire German Merck's consumer health business for about $4.21 billion

(Reuters) - Procter & Gamble Co (P&G) has agreed to acquire Merck KGaA's consumer health unit for 3.4 billion euros ($4.2 billion), giving it vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets.<p>The maker of Pampers diapers and Gillette razors said the deal …

Procter & Gamble

Alaska Airlines Just Decided Your Carry-On Has to Be 32 Percent Smaller (the Reason Why Is Eye-Opening)

You may not enjoy this.<p><i>Absurdly Driven</i> <i>looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek.</i><p>In the realm of annoying airlines, Alaska doesn't generally win, place or even show.<p>It's often voted the best U.S. airline.<p>Which may not be saying <i>that</i> much, but certainly …

Flying

The Airline Whose Planes Are Said to Break Down In Mid-Air More Often Than Anyone's Is About To Have a Big PR Problem

It's come to this.<p><i>Absurdly Driven</i> <i>looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek.</i><p>They say you should get out ahead of a bad story.<p>Present your version before the story hits, so that people can have good feelings about you before aspersions are cast.<p>I wonder, …

Flying

Testing a universal basic income

<i>Technology is changing the kinds and number of jobs we have in this economy, so there's a push to give people who lose out a guaranteed minimum</i> …

UC Berkeley

Credit Market Round-Up For The Week Of April 9-13

The yield curve continues to narrow.<p>Inflation expectations are rising.<p>The short-end of the curve is starting to show some decent value.<p>Let's begin …

Economics

HR, meet Finance—your new best friend

<b>HR and finance go hand-in-hand. But their relationship has been dominated by disconnected communications, and data</b> <i>that’s</i> <b>difficult to access and</b> …

Human Resources

Goldman Sachs buys personal finance start-up Clarity Money

NEW YORK (Reuters) - Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday.<p>Buying Clarity Money, a free app that helps consumers manage their personal finances, is expected to add over 1 million customers to the …

Personal Finance

Oil Investors Rally Behind the Rally With Record Bets on Rise

Hedge funds have never been so invested in the global oil rebound.<p>Their bets that Brent crude futures will climb reached a new high as growing …

Stock Markets

We need to talk about Industry 4.0

<b>As we enter the fourth industrial revolution, manufacturers are faced with boundless new opportunities to innovate continuously. But for a true</b> …

Manufacturing

ECB asks Deutsche Bank to gauge investment banking exit costs: source

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) has been asked by European Central Bank supervisors to calculate the potential costs of winding down its investment banking operations, a source told Reuters on Sunday.<p>FILE PHOTO: A statue is pictured next to the logo of Germany's Deutsche Bank in …

Deutsche Bank

Oil climbs with equities, Saudi Arabia hikes crude prices

NEW YORK (Reuters) - Oil prices rose on Thursday, helped by gains in U.S. equities markets and Saudi Arabia's unexpected hike in crude prices, though crude's advance was curbed by strength in the dollar.<p>Brent crude futures <LCOc1> gained 31 cents to settle at $68.33 a barrel, and U.S. West Texas …

Oil

Portugal's growing green energy production hits milestone

LISBON, Portugal (AP) — Green energy activists in Portugal are hailing a milestone after favorable weather conditions helped production from renewable sources in March to exceed the country's monthly electricity consumption for the first time.<p>National energy infrastructure company REN says wet and …

Renewable Energy

U.S. industry giants rebel against possible trade war

"Companies in technology, investment and other industries now say that the measures the administration is taking to help them may actually end up …

China

Meituan Dianping reportedly in talks to buy Mobike

Meituan Dianping, a Chinese provider of on-demand services, reportedly is in talks to buy bike-sharing company Mobike for around $3.7 billion, …

China

Southwest CEO says he hasn't talked to Buffett about a sale

DALLAS (AP) — If Warren Buffett is interested in buying Southwest Airlines, he's not telling the airline's CEO directly.<p>Southwest Chairman and CEO Gary Kelly said Tuesday that he hasn't talked to Buffett since the Berkshire Hathaway CEO sparked speculation with a comment that he wouldn't rule out …

Investing

China Injects $9.7 Billion Into Anbang After Fraud Alleged

China is injecting 60.8 billion yuan ($9.7 billion) into Anbang Insurance Group Co. as it attempts to contain the fallout after the company’s former …

China

Live Nation Rules Music Ticketing, Some Say With Threats

In 2010, when the Justice Department allowed the two most dominant companies in the live music business — Live Nation and Ticketmaster — to merge, many greeted the news with dread.<p>Live Nation was already the world’s biggest concert promoter. Ticketmaster had for years been the leading ticket …

Miley Cyrus