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Updated: 1 hour 47 min ago

'Medicaid best price' changes aimed at value-based gene therapy contracts -U.S. agency

Wed, 06/17/2020 - 16:26
Proposed changes to requirements that state-run Medicaid programs are given the best drug prices would clear the way for commercial health insurers to enter into "value-based" payment schemes, the U.S. Centers for Medicare & Medicaid Services said on Wednesday.
Categories: Business News

Enbridge says 800 workers take voluntary buyouts

Wed, 06/17/2020 - 16:24
Enbridge Inc, Canada's largest pipeline operator, said on Wednesday about 800 employees have chosen to take voluntary buyouts, as the company tries to reduce costs amid dual challenges of COVID-19 and the global oil price shock.
Categories: Business News

GLOBAL MARKETS-Stocks waver on rising COVID cases, dollar in safety bidding

Wed, 06/17/2020 - 16:16
Global equity markets closed little changed on Wednesday as a rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt.
Categories: Business News

UPDATE 1-Brazil's Petrobras expects to sell stake in fuel distributor in the second half, sources say

Wed, 06/17/2020 - 16:14
Brazil's state-controlled oil company Petroleo Brasileiro SA is resuming plans to unload its remaining stake in the country's top gas station operator, Petrobras Distribuidora SA, two people with knowledge of the matter said.
Categories: Business News

Gilead to enroll pediatric patients for late-stage remdesivir study

Wed, 06/17/2020 - 16:10
Drugmaker Gilead Sciences said on Wednesday it will soon begin enrollment of pediatric patients with moderate-to-severe COVID-19 in a late-stage study testing its experimental drug, remdesivir.
Categories: Business News

Google sets 2025 goal for leadership diversity, curbs on racial profiling

Wed, 06/17/2020 - 16:03
Alphabet Inc's Google on Wednesday announced new goals and policies to address racial issues at its offices, as protests over police brutality against African Americans have carried into discussions about corporate culture.
Categories: Business News

US STOCKS-S&P closes lower as new COVID-19 cases surge

Wed, 06/17/2020 - 16:00
The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery.
Categories: Business News

EMERGING MARKETS-Chile's peso drops after GDP downgrade; Brazil rate decision in focus

Wed, 06/17/2020 - 15:59
Chile's peso tumbled on Wednesday after the central bank cut its economic growth outlook, while Brazil's real weakened ahead of an interest rate decision due later in the day. Against a stronger dollar the peso fell as much as 2.7% to a t
Categories: Business News

UPDATE 4-U.S. govt proposes rolling back protections for big tech

Wed, 06/17/2020 - 15:48
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet's Google and Facebook have had for decades, a senior official said, following through on U.S. President Donald Trump's bid to crack down on tech giants.
Categories: Business News

UPDATE 2-Hertz suspends share sale after U.S. SEC raises objections

Wed, 06/17/2020 - 15:46
Bankrupt Hertz Global Holdings Inc on Wednesday suspended its plan to sell up to $500 million in new shares after the U.S. Securities and Exchange Commission (SEC) raised objections to the sale, the car rental firm said on Wednesday.
Categories: Business News

UPDATE 3-Citing racial stereotype, PepsiCo drops Aunt Jemima; Uncle Ben's, Mrs. Butterworth's under review

Wed, 06/17/2020 - 15:44
PepsiCo Inc said on Wednesday it will change the name and brand image of its Aunt Jemima pancake mix and syrup, dropping a mascot that has been criticized for a racist history, amid a national debate over racial inequality in the United States.
Categories: Business News

Brazil's Petrobras plans to sell $1.8 bln stake in fuel distributor, sources say

Wed, 06/17/2020 - 15:27
Brazil's state-controlled oil company Petroleo Brasileiro SA is resuming plans to unload its remaining stake in the country's top gas station operator, Petrobras Distribuidora SA, two people with knowledge of the matter said.
Categories: Business News

Amazon launches Saudi Arabia shopping site despite CEO's dispute with kingdom

Wed, 06/17/2020 - 15:23 Inc on Wednesday launched a website for shoppers in Saudi Arabia, showing its continued business interests there despite a public dispute between Riyadh and the company's chief executive, Jeff Bezos.
Categories: Business News

TREASURIES-Treasury sells 20-year bonds to strong demand

Wed, 06/17/2020 - 15:21
The U.S. Treasury saw strong demand for its second sale of 20-year bonds on Wednesday, as yields fell broadly in choppy trading on concerns about new outbreaks of the coronavirus. The Treasury sold $17 billion of the 20-year bonds for a high yield of 1.314%, around two basis points lower than where they had traded before the auction. “The auction went very well and the statistics
Categories: Business News

Chile lithium miners feel heat from exploding coronavirus outbreak, output steady

Wed, 06/17/2020 - 15:11
Chile´s vaunted lithium industry, the world´s second largest, has begun to feel the impact of a runaway coronavirus outbreak nationwide, though top producers SQM and Albemarle said output from their Atacama operations nonetheless remained unscathed.
Categories: Business News

GLOBAL MARKETS-Stocks gain on recovery hopes, dollar on safe-haven bid

Wed, 06/17/2020 - 15:10
* Wall Street trend higher as new virus cases offset growth hopes
Categories: Business News

US STOCKS-S&P 500, Dow muted as rising COVID-19 cases dent recovery hopes

Wed, 06/17/2020 - 13:23
* Dow flat, S&P up 0.26%, Nasdaq rises 0.76% (Updates to early afternoon)
Categories: Business News

UPDATE 1-Civil rights groups urge companies to pause ad spending on Facebook

Wed, 06/17/2020 - 13:21
Several U.S. civil rights groups have called upon some of the world's largest companies to pause advertising on Facebook Inc, saying the social network is not doing enough to stop hate speech on its platform.
Categories: Business News

Zoom to offer end-to-end encryption for all users

Wed, 06/17/2020 - 13:08
Zoom Video Communications Inc is planning to offer all its free and paying users end-to-end encryption for video calls, the video conferencing provider said on Wednesday. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)
Categories: Business News

UPDATE 1-Israel signs agreement with Moderna for potential COVID-19 vaccine

Wed, 06/17/2020 - 13:06
Israel has signed an agreement with Moderna Inc for the future purchase of its potential COVID-19 vaccine, Prime Minister Benjamin Netanyahu said on Wednesday.
Categories: Business News