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Vilified for drug pricing, CEO Shkreli busted for securities fraud

Vilified for drug pricing, CEO Shkreli busted for securities fraud

NEW YORK: Martin Shkreli, the boyish pharmaceutical entrepreneur who caused a public uproar after he drastically raised the price of a life-saving prescription drug, was arrested on Thursday for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical company he previously headed. Shkreli, who has become […]

December 17, 2015 | By | Reply More
Staples, FTC stalled on settlement talks

Staples, FTC stalled on settlement talks

WASHINGTON: The U.S. Federal Trade Commission is looking for office supply store Staples to improve its offer to divest assets to further its bid to buy rival Office Depot , the agency said in court on Thursday. Arguing for Staples, Diane Sullivan said that the company had made a “significant and substantial” offer to the […]

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Jim Chanos wishes he 'could borrow more' to short SolarCity stock

Jim Chanos wishes he 'could borrow more' to short SolarCity stock

NEW YORK: Jim Chanos of Kynikos Associates said he is still betting on a huge decline in the shares of SolarCity Corp, which he has called a “subprime financing company,” and said he wishes he could borrow more stock to short its shares. “I wish I could borrow more,” Chanos told CNBC on Thursday. Investors […]

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Oil slump weighs on US stocks

Oil slump weighs on US stocks

NEW YORK: US stocks fell sharply on Thursday (Dec 17) as the market turned its focus away from the Federal Reserve and back to a rout in oil prices that pummelled petroleum-linked equities. Shares of Dow member Chevron fell 3.1 per cent, while oil-services giants Halliburton and Weatherford International fell 4.7 per cent and 5.7 per cent, […]

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Wendy's names CFO Penegor president, starting CEO succession plan

Wendy's names CFO Penegor president, starting CEO succession plan

REUTERS: U.S. burger chain operator Wendy’s Co said Chief Financial Officer Todd Penegor would take on the additional role of president, starting the process for him to replace Emil Brolick as chief executive in May. Wendy’s said Penegor, 50, would become president as of Jan. 4, while Brolick would continue as CEO until Penegor’s had […]

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France adopts plain cigarette packaging

France adopts plain cigarette packaging

PARIS: Cigarettes in France will be sold in plain packaging under a law that was finally passed in parliament on Thursday (Dec 17) despite objections from the conservative opposition. Starting in May 2016, the brand name will appear but in a small, uniform typeface and packets will be shorn of logos. With backing from the […]

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‘BNM likely to keep key rate at 3.25% next year’

‘BNM likely to keep key rate at 3.25% next year’

PETALING JAYA: Analysts expect Bank Negara Malaysia (BNM) to maintain the overnight policy rate (OPR) at 3.25% next year and the ringgit to remain weak, following the interest rate increase by the US Federal Reserve. The Fed’s Open Market Committee (FOMC) raised the target range for the federal funds rate (FFR) to 0.25-0.5% on the […]

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FGV to build warehousing and logistics facility in Tanjung Langsat

FGV to build warehousing and logistics facility in Tanjung Langsat

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) plans to build a warehousing and logistics facility in Tanjung Langsat, Johor, to enhance logistical capabilities for the whole group. The facility, which is scheduled to be completed in March 2017, will be built on a 10-acre piece of land in a port-bonded area, well developed with […]

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PMB Investment lowers AUM target for 2016 to RM1.6 billion

PMB Investment lowers AUM target for 2016 to RM1.6 billion

KUALA LUMPUR: Islamic fund management company PMB Investment Bhd has revised its assets under management (AUM) target downwards to RM1.6 billion for next year, from RM2 billion previously, given the challenging economic conditions, its CEO Ameer Ali Mohamed said. Speaking to reporters after announcing the performance of its funds yesterday, Ameer noted that the company […]

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Kim Hin buys Johan Ceramics’ property, assets for RM28 million

Kim Hin buys Johan Ceramics’ property, assets for RM28 million

PETALING JAYA: Kim Hin Industry Bhd is acquiring property and assets from Johan Ceramics Bhd for RM28 million cash to expand its production capacity in Seremban and better position itself for the Peninsular market. In a filing with Bursa Malaysia yesterday, Kim Hin said its wholly-owned subsidiary Kim Hin Ceramic (Seremban) Sdn Bhd (KH Seremban) […]

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