Drugmakers are prioritizing complex biotech medicines over treatments that can be given as pills because recent U.S. legislation gives biologics a longer runway before becoming subject to government price limits, top industry executives said this week.
Developing countries have sold a huge $39 billion of international bonds since the start of the year, with investors happy to pile into riskier debt as they bet global interest rates are nearing a peak.
Goldman Sachs Investment Strategy Group expects U.S. equities to generate positive returns for investors in 2023 even if the economy enters a recession, according to its outlook report released on Friday.
China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd , business registration records showed, as Beijing extends a campaign to strengthen control over online content.
Tesla has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after missing Wall Street estimates for 2022 deliveries.
Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown.
JPMorgan Chase & Co said on Friday it set aside $1.4 billion in anticipation of a mild recession, even as it reported a better-than-expected quarterly profit on the back of strong performance at its trading unit.
Bank of America Corp reported a bigger-than-expected fourth-quarter profit on Friday, helped by a surge in net interest income as the U.S. Federal Reserve raised rates through most of last year.
U.S. bond funds attracted their biggest weekly inflow in 18 months in the seven days to Jan. 4 on signs of cooling inflation that boosted hopes the Federal Reserve might scale back the size of its interest rate hikes.
Delta Air Lines Inc on Friday forecast first-quarter profit below analysts' estimates on a rise in labor costs as U.S. carriers go all out to improve staffing levels amid robust travel demand.
