Our Great City
Updated: 39 min 32 sec ago
French drugmaker Sanofi thought it had a gold mine in its licensing pact with MannKind for the rights to sell the insulin inhaler Afrezza, but safety concerns and reimbursement issues doomed the effort.
Shares in AP Moller-Maersk dropped more than 5% after the Danish conglomerate swung to a hefty fourth-quarter net loss as tumbling freight rates and sluggish trade growth hit its key shipping business, while its oil unit took a $2.5 billion charge.
Japan’s second-biggest auto maker said quarterly net profit grew 25% after strong sales in the U.S. and Europe offset a slowdown in emerging markets.
Japanese telecom and Internet company SoftBank said that operating profit rose 7% in the three months through Dec. 31, following better-than-expected earnings from troubled U.S. mobile carrier Sprint Corp.
Japan’s Asahi Group is close to buying two European beer brands that SABMiller and Anheuser-Busch InBev want to sell to address regulatory concerns about their planned merger.
A consortium of Chinese investors including security software firm Qihoo 360 Technology has agreed to pay $1.2 billion to buy Norwegian browser maker Opera Software.
French luxury brand Hermès’ fourth-quarter revenue rose 15% as a weak euro and strong demand in Japan continued to boost sales, offsetting a sluggish quarter in France that was affected by the fallout of the Nov. 13 Paris terror attacks.
Viacom Chief Executive Philippe Dauman fiercely defended his leadership and the board’s recent decision to name him executive chairman as the company reported a profit decline in its most recent quarter.
President Barack Obama’s $4.1 trillion budget proposal is designed to find a few spots of bipartisan agreement while also laying out a broader liberal policy agenda for a potential future Democratic administration.
Disney aimed to counter the arguments that ESPN’s business is in decline, while “Star Wars” drove a strong quarter for the company’s movie and consumer products businesses.
India’s decision to ban programs that offer access to a limited set of websites and apps, including Facebook’s Free Basics service, raises questions about the social-media site’s effort to expand Internet use in developing countries.
In a sign of continued difficulties for the burgeoning daily fantasy sports industry, Walt Disney Co.’s ESPN and DraftKings Inc. have unwound their exclusive advertising relationship.
SolarCity Corp. reported better-than-expected results for its fourth quarter, but shares tumbled in after-hours trading as the solar power company acknowledged it continues to fall short of its installation goals.
The Patent and Trademark Office is gearing up to rule nearly 13 years after Coke first tried to register “zero” in the U.S., triggering a challenge from Dr Pepper Snapple Group, which also has a diet drink named Zero.
An advisory panel to the FDA voted to recommend the agency approve the sale of a knockoff version of J&J’s arthritis drug Remicade, which had U.S. sales of $4.45 billion last year. The copy was developed by Celltrion and licensed to Pfizer.
Canadian Pacific Railway has abandoned its threat of a proxy battle to replace directors at takeover target Norfolk Southern, opting instead for a less confrontational strategy of seeking shareholder support for friendly merger talks.
Canadian utility operator Fortis agreed to buy U.S. electricity-transmission company ITC Holdings for about $6.9 billion in cash and stock.
Gasoline could return to $1 a gallon for the first time since the 1990s amid the continuing decline in crude-oil prices, a growing fuel glut and seasonal refining shifts.
Sumner Redstone’s lawyers say he cut former companion Manuela Herzer out of his will, depriving her of a $70 million inheritance, on the same October day that he removed her as his health-care agent.
Coca-Cola reported better-than-expected profit and revenue for its fourth quarter, as higher volume and pricing helped offset the impact of weakness abroad.