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    1. $700 Billion-Plus 'Buy American' Campaign Proposed by Biden

      $700 Billion-Plus 'Buy American' Campaign Proposed by Biden

      Launching an economic pitch expected to anchor his fall presidential campaign, Democratic candidate Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms.

      Biden calls for a $400 billion, four-year increase in government purchasing of U.S.-based goods and services plus $300 billion in new research and development in U.S. technology concerns. Among other policies expected to be announced Thursday, he proposes tightening current “Buy American” laws that are intended to benefit U.S. firms but can be easily circumvented by government agencies.

      An outline released by Biden’s campaign also touts his long-standing promises to strengthen workers’ collective bargaining rights and repeal Republican-backed ...

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    2. Government Signs $450M Contract with Regeneron for Coronavirus Treatment

      Government Signs $450M Contract with Regeneron for Coronavirus Treatment

      Regeneron Pharmaceuticals said on Tuesday the U.S. government signed a $450 million contract with the drugmaker to make and supply its potential double-antibody cocktail for Covid-19.

      The cocktail, REGN-COV2, is in separate clinical trials assessing its effectiveness in preventing and treating Covid-19, the company said.

      Regeneron signed the contract with the U.S. Department of Health and Human Services’ (HHS) Biomedical Advanced Research and Development Authority (BARDA) and the Department of Defense. The doses manufactured under the project will be owned by the federal government.

      The contract comes under the government’s “Operation Warp Speed” program, aimed at accelerating access to vaccines and treatments to fight the coronavirus.

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    3. Fauci Says Coronavirus Immunity May be Short-Lived

      Fauci Says Coronavirus Immunity May be Short-Lived

      Protection from any potential coronavirus vaccine might be short-lived and could require a booster to prolong protection, White House health advisor Dr. Anthony Fauci said Monday. 

      As several companies move closer to the finish line of a potential vaccine for the virus, the role of antibodies takes on even more significance as it could determine how well any vaccine works and how often someone might need to receive it, or a booster, to prolong protection.

      In response to a question about how long antibodies might offer some protection against infection, Fauci said Monday "we do not know."

      "With this spike protein that's being presented in the way that we do it with primes and in some cases boosts, we ...

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      Mentions: Coronavirus
    4. Warren Buffett's Berkshire Hathaway Acquires Dominion Energy Assets

      Warren Buffett's Berkshire Hathaway Acquires Dominion Energy Assets

      Warren Buffett’s Berkshire Hathaway is finally pulling the trigger. The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It’s Berkshire’s first major purchase since the coronavirus pandemic and subsequent market collapse in March.

      At his annual shareholder meeting in May, Buffett revealed that Berkshire had built up a record $137 billion cash hoard as financial markets tanked and that he hadn’t seen many favorable deals, despite the stock market’s swoon.

      “We have not done anything because we don’t see anything that attractive to do,” Buffett said at the time, suggesting that the quick actions ...

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      Mentions: Coronavirus
    5. Amazon Reschedules Prime Day for October Amid Pandemic

      Amazon Reschedules Prime Day for October Amid Pandemic

      Amazon is postponing its marquee shopping event Prime Day until at least early October.

      The company had previously targeted September as the potential timing for Prime Day, but on Wednesday, Amazon informed third-party sellers that the date could be pushed back another month, according to the email, which was viewed by CNBC and first reported by Business Insider.

      The email advises sellers to use the week of Oct. 5 as a "placeholder date" for Prime Day promotions and coupons, but cautions that "exact Prime Day dates have not been announced." 

      "A definitive date will be announced as we get closer to the event," the email states. "We are looking forward to seeing submissions that offer the most delight to customers ...

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    6. Norvartis to Pay $729M to Settle Kickback Charges

      Norvartis to Pay $729M to Settle Kickback Charges

      Novartis agreed to pay more than $729 million to settle U.S. government charges it paid illegal kickbacks to doctors and patients to boost drug sales, the U.S. Department of Justice said on Wednesday.

      The Swiss drugmaker will pay $678 million to resolve claims it organized tens of thousands of sham educational events where it lavished doctors with exorbitant speaker fees, expensive dinners and alcohol to induce them to prescribe its cardiovascular and diabetes drugs more often.

      It will also pay $51.25 million to resolve charges it funneled money through three charitable foundations to cover co-payments of Medicare patients so they would purchase its drugs.

      Both settlements resolved civil charges that Novartis violated the federal False Claims Act.

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    7. Jeffery Epstein's Confidant Faces Multiple Sexual Abuse Charges

      Jeffery Epstein's Confidant Faces Multiple Sexual Abuse Charges

      The FBI arrested Jeffrey Epstein’s long-time friend Ghislaine Maxwell in New Hampshire on Thursday on federal charges of conspiring with him to sexually abuse children as young as 14, and for lying about her alleged conduct as his procurer.

      The arrest of the wealthy British socialite following a six-count criminal indictment issued Monday in Manhattan federal court comes just days before the first anniversary of the now-dead Epstein’s arrest on child sex trafficking charges.

      A federal magistrate judge during a hearing Thursday afternoon ordered that Maxwell be sent to Manhattan in the custody of U.S. marshal to face the charges, to have another judge deterimine whether to grant her bail.

      Prosecutors are asking the 58-year-old Maxwell be ...

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    8. COVID-19 Death Toll is 'a Substantial Undercount', Yale Study Shows

      COVID-19 Death Toll is 'a Substantial Undercount', Yale Study Shows

      The number of confirmed U.S. deaths due to the coronavirus is substantially lower than the true tally, according to a study published Wednesday in JAMA Internal Medicine.

      Using National Center for Health Statistics data, researchers at Yale University compared the number of excess U.S. deaths from any causes with the reported number of weekly U.S. Covid-19 deaths from March 1 through May 30. The numbers were then compared with deaths from the same period in previous years. 

      Researchers found that the excess number of deaths over normal levels also exceeded those attributed to Covid-19, leading them to conclude that many of those fatalities were likely caused by the coronavirus but not confirmed. State reporting discrepancies and a ...

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    9. Lululemon to Buy In-Home Fitness Company Mirror for $500M

      Lululemon to Buy In-Home Fitness Company Mirror for $500M

      Lululemon is acquiring the in-home fitness company Mirror for $500 million, the retailer announced Monday, marking its first acquisition with a bet that more people are going to be pivoting to exercise at their homes. Lululemon shares were up almost 4% in after-hours trading. 

      Following the closing of the deal, Mirror will run as a standalone company within Lululemon, and its current CEO, Brynn Putnam, will continue as Mirror’s CEO, reporting to Lululemon Chief Executive Calvin McDonald, the companies said. 

      The deal, which will be paid for in cash, is expected to close in the second quarter of fiscal 2020. Lululemon first invested $1 million in Mirror in mid-2019. Mirror, which launched in 2018, had raised $72 million from ...

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    10. Netflix Commits $100M to Support Black Communities

      Netflix Commits $100M to Support Black Communities

      Netflix announced Tuesday it will start putting 2% of its cash holdings into financial institutions and organizations to “directly support Black communities in the U.S.”

      The video streaming giant said in a blog post that its initial commitment will be as much as $100 million.

      In the first step in allocating that money, $25 million will be moved to a new fund called the Black Economic Development Initiative, investing in “Black financial institutions serving low and moderate-income communities and Black community development corporations in the U.S.,” the company said.

      It said $10 million will go to Hope Credit Union to fuel economic opportunity in underserved communities across the Deep South.

      “Over the next two years, HOPE estimates the ...

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    11. Gilead's COVID-19 Treatment to Cost $3,120 Per US Patient

      Gilead's COVID-19 Treatment to Cost $3,120 Per US Patient

      Gilead Sciences announced Monday the pricing for its coronavirus treatment remdesivir, saying it will cost $3,120 for a typical U.S. patient with commercial insurance.

      The company announced its pricing plans in preparation for it to begin charging for the antiviral drug in July. The company has been donating doses to the U.S. government for distribution since it received emergency use authorization in May. 

      The drugmaker said it will sell remdesivir for $390 per vial to governments “of developed countries” around the world, and the price for U.S. private insurance companies will stand at $520 per vial. In the U.S., that means Gilead will charge a lower price for government programs like Medicare and a higher ...

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      Mentions: Coronavirus
    12. NY, NJ, CT Mandate 14-Day Quarantine for Risky Travelers

      NY, NJ, CT Mandate 14-Day Quarantine for Risky Travelers

      Travelers arriving in New York, New Jersey and Connecticut from Florida, Texas and other states with spiking Covid-19 infections rates will be subject to a 14-day quarantine and fines if they don't self-isolate, New York Gov. Andrew Cuomo said Wednesday. 

      Cuomo had previously said he was considering imposing a quarantine on travelers arriving in the state from places like Florida where coronavirus cases have spiked. 

      "We worked very hard to get the viral transmission rate down. We don't want to see it go up because a lot of people come into this region and they can literally bring the infection with them," Cuomo said at a news conference with New Jersey Gov. Phil Murphy and Connecticut Gov. Ned ...

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      Mentions: Florida Coronavirus
    13. Human Trials Begin for Inhaled Version of COVID-19 Drug

      Human Trials Begin for Inhaled Version of COVID-19 Drug

      Gilead Sciences will begin human trials for an inhaled version of its antiviral drug remdesivir in August, the biotech company said Monday.

      Remdesivir, which was granted an emergency use authorization (EUA) from the Food and Drug Administration to treat patients hospitalized with Covid-19, is administered intravenously. The company told investors in April that it was looking to develop easier-to-administer versions of the drug, including an inhaled version. The drug can’t be administered in pill form because its chemical makeup would impact the liver, the company noted.

      Gilead said it will administer the drug through a nebulizer, a delivery device that can turn liquid medicines into mist.

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    14. Reduced Circulation Amid Pandemic Leads to Coin Shortage

      Reduced Circulation Amid Pandemic Leads to Coin Shortage

      Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the circulation of physical coinage has ground to a halt amid the coronavirus outbreak but that the central bank is working to fix the flow.

      The topic came to light after Rep. John Rose, R-Tenn., said banks in Tennessee are reporting that they’re receiving smaller-than-usual sums of coinage each week. Rose asked Powell if the central bank was aware of any shortages in the production and distribution of currency, and if there are plans to boost the allocations to their usual levels. 

      “What’s happened is, with the partial closure of the economy, the flow of coins through the economy has ... kind of stopped. The places where you’d ...

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      Mentions: Coronavirus
    15. FDA Ends Emergency Use Authorization for Hydroxychloroquine

      FDA Ends Emergency Use Authorization for Hydroxychloroquine

      The Food and Drug Administration said Monday it is ending its emergency use authorization for chloroquine and hydroxychloroquine, the anti-malaria drugs backed by President Donald Trump to combat Covid-19.

      The agency determined the drugs were "unlikely to be effective in treating COVID-19 for the authorized uses in the EUA."

      "Additionally, in light of ongoing serious cardiac adverse events and other serious side effects, the known and potential benefits of CQ and HCQ no longer outweigh the known and potential risks for the authorized use," the FDA wrote in its notice Monday.

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    16. Grubhub to Merge with European Company Instead of Uber

      Grubhub to Merge with European Company Instead of Uber

      Grubhub plans to merge with European food delivery company Just Eat Takeaway.com, the companies announced Wednesday.

      The deal gives Grubhub shares an implied value of $75.15, implying a total equity value of $7.3 billion on a fully diluted basis. Shares of Grubhub spiked more than 7% during after hours trading.

      The merger, which would combine two of the top food deliver services in the U.S. and Europe, comes after Grubhub’s talks with Uber fell through amid concerns over antitrust scrutiny. Though both parties had agreed on a price ratio, the companies remained concerned about likely antitrust pressure and could not come to an agreement on how Uber would support Grubhub through the regulatory process, CNBC ...

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    17. WHO Says Asymptomatic Spread of COVID-19 is "Very Rare'

      WHO Says Asymptomatic Spread of COVID-19 is "Very Rare'

      Coronavirus patients without symptoms aren't driving the spread of the virus, World Health Organization officials said Monday, casting doubt on concerns by some researchers that the disease could be difficult to contain due to asymptomatic infections. 

      Some people, particularly young and otherwise healthy individuals, who are infected by the coronavirus never develop symptoms or only develop mild symptoms. Others might not develop symptoms until days after they were actually infected.

      Preliminary evidence from the earliest outbreaks indicated that the virus could spread from person-to-person contact, even if the carrier didn't have symptoms. But WHO officials now say that while asymptomatic spread can occur, it is not the main way it's being transmitted. 

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      Mentions: Coronavirus
    18. AstraZeneca Aims to Produce 2 Billion Does of COVID-19 Vaccine, Possibly by September

      AstraZeneca Aims to Produce 2 Billion Does of COVID-19 Vaccine, Possibly by September

      Pharmaceutical company AstraZeneca is aiming to produce 2 billion doses of a coronavirus vaccine, including 400 million for the U.S. and U.K. and 1 billion for those in low- and middle-income countries. 

      It plans to start distributing the vaccine to the U.S. and U.K. in September or October, with the balance of deliveries likely to be made by early 2021, according to AstraZeneca CEO Pascal Soriot, on a call with journalists Thursday.

      AstraZeneca said it had signed a licensing deal with the Serum Institute of India to provide 1 billion doses to low- and middle-income countries, with 400 million of those shots set to be delivered by the end of 2020, according to a press release ...

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      Mentions: Coronavirus
    19. Pelosi Says Democrats Plan to Introduce Police Reform Bill on Monday

      Pelosi Says Democrats Plan to Introduce Police Reform Bill on Monday

      Democrats plan to introduce a police reform bill Monday during a nationwide uproar over police brutality and racism in the justice system. 

      The legislation, drafted by members of the Congressional Black Caucus, will aim to address excessive use of force, qualified immunity and racial profiling, House Speaker Nancy Pelosi told reporters Thursday. Qualified immunity makes it harder for victims of violence and their families to sue police. 

      Protesters across the country have called for reform after a string of police-involved killings of black men and women. The deaths, in particular the killing of George Floyd in Minneapolis, have led to increased furor over entrenched racism in the United States.

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    20. White House Health Advisor, Fauci, Says COVID-19 Vaccine May Not Provide Longterm Immunity

      White House Health Advisor, Fauci, Says COVID-19 Vaccine May Not Provide Longterm Immunity

      White House health advisor Dr. Anthony Fauci said he worries about the "durability" of a potential coronavirus vaccine, saying there's a chance it may not provide long-term immunity.

      If Covid-19 acts like other coronaviruses, "it likely isn't going to be a long duration of immunity," Fauci, director of the National Institute of Allergy and Infectious Diseases, said during an interview Tuesday evening with JAMA Editor Howard Bauchner.

      "When you look at the history of coronaviruses, the common coronaviruses that cause the common cold, the reports in the literature are that the durability of immunity that's protective ranges from three to six months to almost always less than a year," he said. "That's not a lot of ...

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      Mentions: Coronavirus
    21. Russia Claims to Have Found an Effective Treatment for COVID-19

      Russia Claims to Have Found an Effective Treatment for COVID-19

      Russia has approved an anti-influenza drug, Aviifavir, to treat Covid-19 and will start delivering it to hospitals this month, according to Russia's sovereign wealth fund.

      The fund, RDIF, has provided money for Russia's development and production of the drug which is based on favipiravir, an anti-influenza drug developed in Japan under the name Avigan, in a 50-50 joint venture with Russian pharmaceutical firm ChemRar. 

      Preliminary trials appeared to show that it could shorten recovery times for patients with Covid-19. The final stage of Avifavir clinical trials involving 330 patients are ongoing, RDIF and ChemRar said Monday, but Russia's Ministry of Health on Saturday already temporarily approved the use of the drug as a coronavirus treatment

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      Mentions: Coronavirus
    22. Debt Balances Rise as the Debate Over Extending Student Loan Forgiveness Continues in Congress

      Debt Balances Rise as the Debate Over Extending Student Loan Forgiveness Continues in Congress

      As the debate over extending student loan forgiveness continues in Congress, college students are taking on increasing amounts of debt.

      Typically, 7 in 10 college seniors graduate in the red, owing about $30,000 per borrower, according to data from the Institute for College Access & Success.

      Going forward, a 2020 high school graduate could face $37,200 in loans in pursuit of a degree at a public college or university, according to a new NerdWallet analysis of data from the National Center for Education Statistics.

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    23. Dr. Anthony Fauci Says a Second Wave of Coronavirus is 'Not Inevitable'

      Dr. Anthony Fauci Says a Second Wave of Coronavirus is 'Not Inevitable'

      A second wave of the coronavirus outbreak in the United States "could happen" but is "not inevitable," White House health advisor Dr. Anthony Fauci said Wednesday.

      The U.S. can prevent another wave of Covid-19 as long as states reopen "correctly," Fauci said Wednesday morning in an interview on CNN. "Don't start leapfrogging over the recommendations of some of the guidelines because that's really tempting fate and asking for trouble."

      Fauci, director of the National Institute of Allergy and Infectious Diseases and a member of President Donald Trump's coronavirus task force, has previously warned that Americans need to prepare for the possibility of a second wave of the coronavirus in the fall, which would run alongside the ...

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      Mentions: Coronavirus
    24. Businesses May Be in Danger of Coronavirus Lawsuits as They Reopen

      Businesses May Be in Danger of Coronavirus Lawsuits as They Reopen

      Another round of coronavirus relief for Americans may hinge on extra legal protections for businesses.

      Some business owners fear customers and employees may sue if they were to contract Covid-19 as retail shops, restaurants and bars gradually begin reopening in many states.

      Senate Majority Leader Mitch McConnell, R-Ky., said a wave of lawsuits against business owners could lead to a “second pandemic.” He and other Republicans are pushing for extra liability protections, absent which there will be a slower economic recovery, they say.

      But the anxiety may be somewhat misplaced, according to opponents of such a new rule, which they believe may promote lax workplace safety standards and lead more workers to stay home.

       

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      Mentions: Coronavirus
    1-24 of 68 1 2 3 »
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