Business

Drugmakers kick off 2021 with 500 U.S. price hikes

Drugmakers including Abbvie Inc and Bristol Myers Squibb raised U.S. list prices on more than 500 drugs to kick off 2021, according to an analysis by health care research firm 46brooklyn. The hikes come as drugmakers are reeling from effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. They […]

Business

Last-minute White House decision opens more Arctic land to oil leasing

U.S. President Donald Trump’s administration announced on Monday that it has made final its plan to open up vast areas of once-protected Arctic Alaska territory to oil development. The decision, which will open up more land in the western North Slope, is one of a number of pro-drilling actions taken by the Trump administration in […]

Business

Fiat Chrysler, Peugeot get green light for $52 billion carmaker

Fiat Chrysler (FCA) and PSA said on Monday that investors had given their blessing to a $52 billion merger to create the world’s fourth largest automaker, and shares in the new company, named Stellantis, would start trading in two weeks. With annual production of around 8 million vehicles worldwide and revenues of more than 165 […]

Business

Wall Street places bet on solid revenue growth for Airbnb, DoorDash

A slew of brokerages initiated coverage of Airbnb Inc and DoorDash Inc on Monday, having high hopes for their revenue growth and supporting eye-popping valuations obtained by both last month in stock market launches. Home rental firm Airbnb was valued at just over $100 billion at the time of its market debut in the biggest […]

Business

Jack Ma’s disappearing act fuels speculation about billionaire’s whereabouts

Alibaba founder Jack Ma’s absence from public view in the past two months, including missing the final episode of a TV show on which he was to appear as a judge, has fueled social media speculation over his whereabouts amid a Chinese regulatory clampdown on his sprawling business empire. China’s highest-profile entrepreneur has not appeared […]

Business

China’s Alibaba to shut down Xiami music app next month

Alibaba Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China’s entertainment industry. “Due to operational adjustments, we will stop the service of Xiami Music,” the online music arm of the Chinese e-commerce giant said on Tuesday on its […]

Business

McDonald’s wants a bite of crispy chicken market with new sandwiches

McDonald’s Corp is hoping 2021 is the year it cracks the crispy chicken sandwich by rolling out three different versions in the United States, as it takes on chains such as Restaurant Brands International’s Popeyes for a share of the growing market. The world’s biggest burger chain confirmed to Reuters it plans to launch its […]