Business

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How Mylan, the maker of EpiPen, became a virtual monopoly

This Oct. 10, 2013, photo shows an EpiPen epinephrine autoinjector. (Mark Zaleski/Associated Press)<p>The maker of EpiPen announced Thursday that it will help more patients pay for the lifesaving allergy injection, bowing to intense criticism from politicians, doctors and patients over the drug’s …

Asian Stocks Decline Before Jackson Hole as Crude Oil Above $47

Asian stocks extended their weekly loss ahead of a speech by Federal Reserve Chair Janet Yellen that may shed light on the U.S. interest-rate …

Japan

Texas jury agrees with GM in ignition switch defect trial

In a closely watched case with others set to come to trial, a Texas jury found Thursday that an ignition switch in a 2007 Saturn Sky did not cause a 2011 crash that killed one person and injured another.<p>The jury, after deliberating less than an hour, delivered the verdict in state courtroom in …

American South

Japan remains entrenched in deflation as core inflation falls to a 3-year low

Japanese deflationary pressures intensified unexpectedly in July, heaping pressure on the Bank of Japan ahead of it’s highly anticipated monetary policy meeting in mid-September.<p>According to the government, core consumer price inflation (CPI) — that which excludes fresh food prices — fell by 0.5% …

Deflation

Volkswagen Has Tentative Deal To Compensate U.S. Dealers In Emissions Scandal

Enlarge this image<p>Today Volkswagen announced a tentative agreement with its 652 franchise dealers in the U.S. The company didn't reveal the price tag but sources tell the Reuter news service the deal is worth $1.2 billion.<p>According to a statement from the company, Volkswagen has agreed to pay cash …

Volkswagen

These smartphone makers are beating Apple in China

<b>Hong Kong (CNN) —</b> Apple is having a rough ride in China, where its main revenue-generating product -- the iPhone -- is facing increasingly fierce competition from homegrown tech companies.<p>Apple's overall sales fell 33% in China in the second quarter, compared to the same period last year. One …

Apple News

California Aims Retirement Plan at Those Whose Jobs Offer None

California is preparing to create a mandatory state-run retirement plan for an estimated six million workers at companies that do not now offer any retirement benefits.<p>The move could make California the first state to require companies to take part in such a system. Colorado was considering the …

Retirement

This is the state of the global ad economy so far this year

<i>This story was delivered to BI Intelligence "Digital Media Briefing" subscribers. To learn more and subscribe, please click here.</i><p>Advertising holding company WPP reported its interim results for the year up to June 30.<p>The company’s results were reasonably strong, with revenue up 5.2% year-on-year to …

Indian Economy

Bickering, Tedium Mark First Day of Brazilian Impeachment Trial

The first day of Brazil’s impeachment trial was surprisingly undramatic, even tedious, considering it’s the most important political event in the …

Impeachment

Bijan store on Rodeo Drive sells for a record $122 million

The parent company of Louis Vuitton paid an eye-popping $122 million last month for the Bijan store on Rodeo Drive, public records show.<p>The sale to LVMH Moët Hennessy Louis Vuitton is the latest high-profile deal on the Beverly Hills shopping street, which is home to luxury retailers such as Gucci …

Louis Vuitton

Toshiba: Japan trunk bank sues it for $120 million over accounting scandal

TOKYO (Reuters) - Toshiba Corp (6502.T) said on Friday a Japanese trust bank was suing it for 12 billion yen ($119 million) for losses stemming from the company's $1.3 billion accounting scandal last year.<p>Japan Trustee Services Bank had filed the suit with the Tokyo District Court on Aug. 9, the …

Asia

Dollar wavers, poised for weekly gains ahead of Yellen speech

TOKYO (Reuters) - The dollar remained on tenterhooks on Friday, ahead of Federal Reserve Chair Janet Yellen's highly anticipated speech later in the session that some believe could provide clarity on whether U.S. interest rates are headed higher this year.<p>The dollar index, which gauges the …

Janet Yellen

China urges Japan to be 'constructive' at G20 summit

BEIJING (Reuters) - Japan should play a "constructive" role at the upcoming G20 summit in the Chinese city of Hangzhou because cooperation is in the interests of all parties, China's top diplomat told a visiting Japanese envoy.<p>Ties between Asia's two largest economies have long been overshadowed by …

Japan

Apple's Horrible Week Continues With Another Serious iPhone Problem

Apple has released an unexpected update to iOS which deals with something that is rare in Apple circles – a zero-day exploit of iOS that would allow a handset to be remotely jailbroken and run malicious code.<p>Version 9.3.5 of the mobile operating system patches three critical exploits that, when …

iPhone

Sumner Redstone’s Granddaughter and Ex Continue Fight Over His Estate

To the business world, last week’s legal settlement that replaced Philippe Dauman as CEO of Viacom with his long-time lieutenant, COO Thomas Dooley, …

Sumner Redstone

Japan’s CPI Falls for 5th Month, Raising Pressure on Kuroda

Consumer prices in Japan fell for a fifth straight month, underscoring the central bank’s struggle to spur inflation to its 2 percent target. …

Japan

What to Expect From Yellen's Jackson Hole Speech

Ben Emons, Intellectus Partners chief economist, previews Fed Chair Janet Yellen's speech at an annual symposium in Jackson Hole, Wyoming. He speaks …

Jackson Hole

Line Hunts for Acquisitions Armed With $1.3 Billion War Chest

Line Corp. plans to use part of the $1.3 billion it garnered from last month’s initial public offering to bankroll acquisitions of content and …

Mergers & Acquisitions

Splunk, Inc. Gains Steam in the Cloud, Boosts Full-Year Guidance

Image source: Splunk, Inc.<p><b>Splunk Inc.</b> (NASDAQ: SPLK) released fiscal second-quarter 2017 results Thursday after the market close. Though the operational-intelligence software specialist remains unprofitable as it prioritizes top-line growth, it also exceeded revenue expectations for the seventh …

Accounting

3 Companies Whose Sales Could Double in 2017

Image source: Fitbit.<p>Investors looking for growth often seek companies with rapidly rising revenue. These companies rarely offer dividends, value, or a modest risk profile, but companies experiencing surging sales may offer the opportunity for significant share price appreciation.<p>It's rare for a …

Revenue

How Uber Lost More Than $1 Billion in the First Half of 2016

Uber has upended the transportation industry in the span of a few years. But the ride-hailing company has been losing a lot of money while doing so.<p>Uber recorded losses of roughly $1.2 billion in the first half of 2016, according to a person briefed on the company’s financial data, who spoke on the …

Uber

UK consumers recover some confidence after Brexit vote hit: survey

LONDON (Reuters) - British consumers have regained some of the confidence they lost after the Brexit vote in June, according to a survey published on Friday, the latest sign that households are largely taking the decision to leave the European Union in their stride.<p>The YouGov/CEBR Consumer …

Brexit

Japan July consumer prices post biggest annual fall in three years

TOKYO (Reuters) - Japan's core consumer prices fell for a fifth straight month and marked the biggest annual drop in more than three years in July, government data showed on Friday, keeping the central bank under pressure to expand an already massive stimulus program.<p>The gloomy data reinforces a …

Japan

Kraft Heinz laying off about 200 workers

Kraft Heinz announced Thursday afternoon that it's laying off about 200 employees in the U.S. and Canada as part of ongoing efforts to reduce costs.<p>In a statement, Kraft Heinz spokesman Michael Mullen called the layoffs a "difficult but necessary decision." He declined to say if any of those jobs …

New York heroin seizure a 'substantial' dent in opioid epidemic

<b>(CNN) —</b> Ensconced in the axle of a painted-over tractor trailer, the more than 65 pounds of heroin were smuggled across the Mexican border with Texas and transported across the country to a house nestled in the woods 30 miles north of New York City.<p>On Tuesday, authorities seized that heroin, a …

Heroin

California Assembly passes bill for private worker retirement plan

SAN FRANCISCO (Reuters) - A bill to create a state-run retirement savings plan for roughly 7 million private workers in California advanced through the state Assembly on Thursday.<p>The bill would launch a retirement savings program to cover California workers who do not receive a company-sponsored …

Ryan Lochte scores endorsement from 'forgiving' cough drop maker

<b>New York (CNN) —</b> While other companies have dropped Olympic swimmer Ryan Lochte, Pine Bros. cough drops have signed him to a new endorsement deal.<p>"Just as Pine Bros. is forgiving to your throat, the company asks [the] public for a little forgiveness for an American swimming legend," the company …

Ryan Lochte

Pacemaker hacking claims 'absolutely untrue': St. Jude

<b>New York (CNN) —</b> St. Jude Medical rejected claims made by a famous short seller on Thursday that the company's pacemakers and other lifesaving devices are vulnerable to cyber attacks.<p>The allegations, made in a detailed 34-page report by Muddy Waters founder Carson Block, were enough to spook …

Cyber-attacks

U.S. fines big Nebraska bank over credit card, ID theft marketing

(Reuters) - First National Bank of Omaha will pay $35.25 million of fines and refunds to settle charges by two U.S. regulators that it duped hundreds of thousands of customers into buying credit card and identity theft services they did not want, understand or receive. It also apologized to …

Credit Cards

Ashley Madison Blasted Over Fake Security Award as Lawsuit Moves Forward

How not to do data security<p>If a company’s main product is discreet sexual services, it should probably lock down its customer data good and tight. Ashley Madison, a website for adultery, took a different approach: it employed terrible safeguards, and sought instead to reassure users by posting a …

Security

Power outage briefly halts flights to Miami, nearby airports: FAA

WASHINGTON (Reuters) - The U.S. Federal Aviation Administration briefly halted flights at Miami International and nearby airports around noon on Thursday following a power outage at Miami's Terminal Radar Approach Control, a spokeswoman said.<p>Most of the systems have since resumed functioning, …

Airports

Illinois attorney general sues Insys over fentanyl drug marketing

(Reuters) - Illinois' attorney general on Thursday sued Insys Therapeutics Inc, accusing it of deceptively marketing and selling an addictive fentanyl-based medication, intended to treat cancer pain, to doctors for off-label uses.<p>The lawsuit, filed by Attorney General Lisa Madigan in Cook County …

Volkswagen, dealers reach tentative deal in cheating scandal

SAN FRANCISCO (AP) — Volkswagen has reached a tentative deal with its U.S. dealers to compensate them for losses they said they suffered as a result of the company's emissions cheating scandal.<p>Attorneys for Volkswagen and the roughly 650 dealers announced the deal at a court hearing Thursday. The …

Volkswagen

World Bank President Jim Yong Kim Is Nominated for a Second Term

WASHINGTON — The United States on Thursday nominated Jim Yong Kim for a second five-year term as president of the World Bank, despite persistent complaints among staff members about his leadership when the mission of the global development institution is in question.<p>The decision by the Obama …

World Bank

1 in 2 Employees Would Leave Their Current Job If They Got a Better Offer

Low wages are the main reason.<p>So much for job loyalty. According to a new survey of US employees, 52% said they’d be willing to leave their current job if a better offer came along, while another 44% said they were actively looking for a new job.<p>“Encouraged by low unemployment rates and frustrated …

Financial markets

Clinton unveils plan to boost smaller banks in latest sign of lenders' clout

Both Democrats and Republicans are pushing plans to boost community banks and credit unions, the latest sign of the growing political power of the smaller lenders.<p>Hillary Clinton Thursday unveiled a plan to pare back regulations for small banks, including simplifying capital requirements and …

Hillary Clinton

Burger King Manager Facing Assault Charge For Allegedly Throwing Sauce At Customer

It can be frustrating for both customers and fast food employees alike when something about an order isn’t right, but that’s no excuse for chucking …