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Profits at Biogen Idec Up 12% on Growth in Revenue

Biogen Idec Inc has announced that its profit from the first quarter was up by 12%, thanks to strong sales from Tecfidera, its pill based treatment for multiple sclerosis, which drove revenues higher. The company raised is outlook for earnings for this year. Biogen now expects its adjusted earnings to be between $11.35 and $11.45 […]

AstraZeneca Stock Jumps on Takeover Reports

Shares of AstraZeneca in the U.S. jumped in trading before the bell Monday after reports of a takeover approach of $100 billion by Pfizer, which would be the largest deal in pharmaceuticals history if it were to be accepted. Neither of the two companies would make a comment on the latest reports that the two […]

Adidas and Nike Supplier Goes on Strike in China Halting Output

In China, shoe factory striking workers halted the production for the fifth day in a dispute involving company contribution to the housing funds and social security of employees. The stoppage of work at Yue Yuen Industrial Holdings, a maker of shoes for brands such as Adidas, Asics and Nike continued into the weekend, while the […]

Ousted Executive at Yahoo Given HUGE Severance Package

Henrique de Castro was employed at Yahoo for just 1 year and 3 months. The former Yahoo Chief Operating Officer left the company with a severance package over $58 million. This is according to a document filed with the Securities and Exchange Commission the regulatory agency, on Wednesday The “golden parachute” as it has been […]

Profits Up and Results Top Estimates at Johnson & Johnson

Johnson & Johnson the healthcare giant said its earnings during the first three months of 2014 had increased to $4.73 billion equal to $1.65 a share from $3.5 billion equal to $1.22 a share during the same quarter one year ago. The first quarter for 2014 included a gain of on special items after taxes […]

Amazon Paying Disgruntled Employees to Leave

Under a new program named Pay to Quit, Amazon is paying up to $5,000 per person to weed out unproductive or disgruntled employees at its different fulfillment centers. In a company letter this week addressed to shareholders, CEO Jeffrey Bezos outlined details of a rare strategy by human resources the retail internet giant has recently […]

S&P Lowers Outlook on Credit Rating for Finland

Standard & Poor’s Ratings Service cut its outlook on the credit rating for Finland from stable to negative on Friday due to the Nordic country’s economic problems continuing. The ratings service reaffirmed the triple-A long-term foreign and local currency sovereign credit ratings for Finland. The revision of the outlook reflects our view of the protracted […]

American Airlines and US Airways Change Mileage Awards and Baggage Fees

It is easier for frequent fliers of US Airway now to redeem their miles on American Airlines. However, it might take additional miles to receive a free trip, depending upon when the dates of travel are. Both of the airlines are cutting back on checked bags that are free that are allowed under the loyalty […]

Mallinckrodt Purchasing Questcor in California

Ireland’s Mallinckrodt the specialty drug makers said Monday that it was acquiring California based Questcor Pharmaceuticals for a stock and cash deal worth more than $5.6 billion. The transactions will expand the offerings of Mallinckrodt’s specialty pharmaceuticals, including the primary drug from Questcor Acthar, which manages difficult to treat inflammatory and autoimmune conditions. The terms […]

GlaxoSmithKline Fires staff in China for Overstating Expenses

Facing bribery allegations in China, GlaxoSmithKline the pharmaceutical giant dismissed a number of its employees there over the failure to comply with rules for expenses, a person who is familiar with the situation announced Friday. The biggest drug maker in Britain declined comment over the details of the sacking of employees but did confirm it […]