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U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
Gross domestic product in the second quarter was expected to show a 2.1% annualized increase. Source
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Pfizer’s gene therapy for rare genetic bleeding disorder succeeds in late-stage trial
Kena Betancur | Corbis News | Getty Images Pfizer on Wednesday said its experimental gene therapy for a rare genetic blood-clotting disorder succeeded in a large late-stage trial, paving the way for a potential approval. The treatment for hemophilia A could become the company’s second gene therapy to enter the U.S. market after Beqvez, which […]
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Lawmakers introduce bipartisan bill aiming to crack down on drug middlemen as scrutiny ramps up
Feverpitched | Getty Images Bipartisan lawmakers introduced a new bill on Tuesday that aims to crack down on the business practices of drug supply chain middlemen who are widely accused of inflating prescription medication prices and harming U.S. patients and pharmacies. The legislation aims to ensure community pharmacies can provide care to patients enrolled in […]
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How Biden’s unpopular economic record could be a challenge for Kamala Harris
As the frontrunner for the Democratic party’s nomination, Kamala Harris will have to run, for better or worse, on President Joe Biden’s economic record. That could be problematic for the vice president, who is being regarded as the near-certain replacement for Biden on the party ticket. While Biden-Harris can lay claim to a number of […]
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Activist Elliott reportedly has a significant stake in Starbucks, in talks with management
A Starbucks coffee shop in Amsterdam. Nicolas Economou | Nurphoto | Getty Images Elliott Management has taken a significant stake in coffee chain Starbucks and is engaging with management to find ways to improve the company’s share price, the Wall Street Journal reported Friday, citing people familiar with the matter. Representatives for Elliott declined to […]
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Anthropic launches $100 million AI fund with Menlo Ventures, ramping up competition with OpenAI
Anthropic and one of its biggest investors are taking a page from Apple’s playbook. The artificial intelligence startup and Menlo Ventures are launching a $100 million fund on Wednesday to back early-stage startups, and get them using the AI company’s technology. Menlo will put up the cash to invest in the startups, while Anthropic will […]
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Stocks making the biggest moves premarket: Trump Media & Technology, Apple, Super Micro Computer and more
Check out the companies making headlines before the bell: Trump Media & Technology — Shares of the Truth Social parent popped more than 50% following the attempted assassination of former President Donald Trump on Saturday. Some have argued that the attempt could boost the odds of a Trump victory in the November election. Apple — […]
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Google reportedly in advanced talks to acquire cyber startup Wiz for $23 billion, its largest-ever deal
Sundar Pichai, CEO of Alphabet Inc., during Stanford’s 2024 Business, Government, and Society forum in Stanford, California, April 3, 2024. Justin Sullivan | Getty Images Google is in advanced talks to acquire cybersecurity firm Wiz for $23 billion, The Wall Street Journal reported Sunday, citing people familiar with the matter. The people familiar told the […]
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Inflation falls 0.1% in June from prior month, helping case for lower rates
The monthly inflation rate dipped in June for the first time in more than four years, providing further cover for the Federal Reserve to start lowering interest rates later this year. The consumer price index, a broad measure of costs for goods and services across the U.S. economy, declined 0.1% from May, putting the 12-month […]
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Stocks making the biggest moves premarket: Delta Air Lines, Costco Wholesale, Pfizer and more
Check out the companies making headlines before the bell. Delta Air Lines — Shares tumbled 9% after the airline issued a lower-than-expected sales growth forecast in the current quarter. Net income also fell 30% in the second quarter despite revenue reaching record highs. Costco Wholesale — Costco shares added nearly 3% after the wholesale club […]
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