The Fed wrapped its January meetings yesterday with the expected news that it would leave the benchmark interest rate unchanged and the less-guaranteed report that it was hitting the pause button on future rate hikes (aka,...more
Generic drugmaking giant Teva Pharmaceuticals will cut 25% of its workforce (around 14,000 jobs) and shutter manufacturing and R&D facilities in an effort to “simplify its structure and reduce its debt”....more
Japan’s SoftBank hasn’t been shy about bold moves, but its most recent one—the decision to buy American PE giant Fortress Investment Group—is an especially big one. The deal is seen as bolstering SoftBank’s recently announced...more
The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more
Theranos is “retreating” from its blood tests, cutting its workforce by 40 percent, and shuttering facilities—all signs that Elizabeth Holmes’ company may be shifting to developing products to sell to outside labs rather than...more