BizTechNews

5 things we learned from EpiPen price hike hearing

Congress heaped scorn upon the CEO of the drug company that makes the EpiPen treatment during a committee meeting Wednesday. Here’s what we learned from Mylan (MYL) CEOHeather Bresch’s testimony and questioning before the House Oversight panel. 1. Solutions are in short supply. Well, this shouldn’t surprise you. But hearings like this bring it into full view. The hearing was ...

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Are you a Yahoo user? Here’s what you should do

SAN FRANCISCO — Yahoo said Thursday an investigation had confirmed information associated with at least 500 million user accounts was stolen from the company in late 2014. Yahoo users and others should immediately take steps to protect themselves, and stay vigilant for attempted add-on attacks in the coming days and weeks. Yahoo also owns the photos sharing site Flickr and the blogging ...

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Fed holds rates steady in close call; strongly signals Dec. hike

WASHINGTON–A divided Federal Reserve found a new reason Wednesday to hold off on an interest rate hike: a stagnant unemployment rate. Fed Chair Janet Yellen told reporters that despite solid job growth this year, the unemployment rate has been stuck at 4.9% because discouraged workers on the sidelines have been drawn into an improving labor market. She called that a positive ...

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iCar, what? Apple pours more sand in the engine of its phantom car project

SAN FRANCISCO – Hi folks, and welcome back to “Is Apple Building A Car,” the game where reading between the lines is more important than focusing on the road. Our Wednesday installment features media reports that the iPhone maker — which insists its so-called Project Titan is a fantasy – is in investment talks with British supercar builder McLaren and ...

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Mylan CEO defends price boosts for lifesaving EpiPen

WASHINGTON — The CEO of the drug maker that sells the EpiPen allergy-reaction injector defended the company’s six-fold price increases Wednesday in congressional testimony, painting the lifesaving treatment as less profitable than it might appear. Despite Mylan CEO Heather Bresch’s best effort to to squelch her company’s role in the political firestorm over pharmaceutical profits, she was assailed in a bipartisan chorus over the increases. EpiPen has gone from $100 for a two-pack ...

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Delamaide: Wells Fargo scandal reopens ‘too big to fail’ wound

WASHINGTON — The latest scandal at Wells Fargoshows not only that the country’s biggest banks are too big to fail and their executives too big to jail, but also that they are too big to punish in any significant manner. Even though regulators belatedly caught up with the bank’s systematic efforts to sign up customers for 2 million new accounts ...

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Low unemployment could spur inflation — but when?

It’s a tried-and-true maxim of economics: A falling unemployment rate should spur faster wage growth and inflation as employers pay up to attract a shrinking pool of available workers. Yet while unemployment has declined sharply the past four years, to 4.9% from 8.1%, annual gains in average hourly earnings have climbed far more modestly, to 2.4% from 1.9%. Largely as ...

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Drivers are wasting their money on premium gas

For years, drivers have been under the impression that premium gas was better for their car. Not so, says AAA. A new AAA study says American drivers wasted more than $2.1 billion dollars in the last year by using pricier premium-grade gasoline in cars built to run on more traditional regular fuel. For cars designed to run on regular fuel, AAA found that using premium provided ...

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Wolff: Abnormal Trump catches up to normal Clinton

Hillary Clinton’s negatives are so great that it was once assumed she was the luckiest politician on earth getting to run against Donald Trump, the only person whose negatives were greater. Now, more and more, it looks like no luckier thing could have happened for him than to run against her. It is this straight-up comparison—the reflexive horror of her ...

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4 things to watch as Well Fargo’s CEO testifies

Wells Fargo CEO John Stumpf will seek to contain the damage to his bank’s reputation Tuesday when he testifies before Congress on a scandal that has raised serious ethical questions about the company’s business practices. Members of the Senate Banking Committee plan to grill Stumpf over the revelation that the company secretly opened more than 2 million accounts without customers’ permission, prompting a $185 million ...

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