Business

Business

CEOs turn to a top Wall Street banker, JP Morgan's Jamie Dimon, to lead

(c) 2016, The Washington Post. Jamie Dimon, the chairman and CEO of JPMorgan Chase and one of the most influential links between Washington and Wall Street, will become chairman next year of Business Roundtable, one of the most powerful lobbying organizations in the country. Dimon is a self-...


Business

Airbnb turns the volume down on its fights with regulators everywhere

(c) 2016, Bloomberg. Airbnb has always operated under a cloud of legal uncertainty as it battled city governments over how to regulate its network of short-term rental properties. The company has been kicking it into high gear to clear the situation up in recent days. On Wednesday, it released a...


Business

Abbott files suit to terminate $5.8 billion purchase of Alere

(c) 2016, Bloomberg. Abbott Laboratories filed suit to terminate its $5.8 billion purchase of Alere Inc., citing setbacks since the deal was signed in January that it says have significantly eroded the value of the medical-test maker. The acquisition was troubled almost from the start. In February,...


Business

Foreign takeover weapon provides Trump with leverage over China

(c) 2016, Bloomberg. A U.S. government panel that reviews foreign takeovers of American companies could become a tool for Treasury Secretary nominee Steven Mnuchin to get tough on China. If confirmed, Mnuchin will become head of the Committee on Foreign Investment in the United States, which...


Business

Your company's human resources department could get less human

(c) 2016, The Washington Post. Some of the questions you ask your human resources department could soon be answered by, well, non-humans. That’s the concept behind Talla, a Boston-area start-up that has developed a chatbot to replace some of HR departments’ more mundane daily tasks. Those include...


Business

Company delays work on controversial Utah tar sands project

SALT LAKE CITY (AP) — A Canadian company is delaying the startup of its oil sands mining operation in eastern Utah. The Calgary-based US Oil Sands announced it has laid off both Canadian and U.S.-based employees until a new financing deal is struck with its largest shareholder. Company CEO Cameron...


Business

Traders caught up in Wall Street probes switch to shadow banking

(c) 2016, Bloomberg. Some mortgage bond traders tangled up in investigations are moving into the shadow banking system, where their new employers have greater latitude to hire people with blemishes on their records. More than 20 traders at big banks left their jobs, or were pushed out, amid a wave...


Business

Credit-card debt of prudent Canadians finds eager U.S. buyers

(c) 2016, Bloomberg. The prudent Canadian consumer who pays off her credit-card bill has become a star of the U.S. debt markets. Canada’s banks are increasingly heading south to fund their credit-card programs, issuing a record $6.8 billion in such asset-backed securities this year, according to...


Business

Pfizer, Flynn get record fine on 2,600 percent drug price increase

(c) 2016, Bloomberg. Pfizer and Flynn Pharma were fined a record amount for abusing their dominant position in the U.K. by charging unfair prices for unbranded versions of the Epanutin anti-epilepsy drug. The Competition and Markets Authority fined Pfizer 84.2 million pounds ($106 million) and...


Business

Trump vows to 'bring down drug prices'; biotech stocks fall

(c) 2016, Bloomberg. President-elect Donald Trump, whose victory last month was greeted with a surge in pharmaceutical stocks, declared himself an opponent of high drug prices in an interview with Time magazine. “I’m going to bring down drug prices. I don’t like what’s happened with drug prices,”...


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