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(Bloomberg) — Philip Morris International Inc. agreed to buy U.K. asthma drug maker Vectura Group Plc for $1.2 billion, one of the biggest moves yet by a tobacco company toward treating conditions that its cigarettes can help cause. Philip Morris is offering 150 pence in cash for every Vectura share, the companies said in a statement Friday. That’s 11% higher than Thursday’s closing price, and beats an offer from Carlyle Group Inc. that management had agreed to in May. Vectura shares… Source link

SURFSIDE, Fla. (AP) — When the coronavirus ravaged Florida, Gov. Ron DeSantis defiantly bucked mask mandates. He later cracked down on protesters advocating racial justice, blasted President Joe Biden on immigration, jumped into the fight over transgender athletes and signed sweeping legislation to toughen voting rules. But after a deadly building collapse, the Republican governor is largely hitting pause on the culture wars. In the two weeks since a 12-story condo tower in this coastal… Source link

Stocks can flirt with a price bottom for a lot of reasons. Usually, however, investors will assume that there is something fundamentally unsound about the stock, or the company. Perhaps its business model is flawed, perhaps its product has grown unpopular – these, and many more factors can drive the share price down. But sometimes, perhaps just as often, a stock price will fall when there is no underlying unsoundness. A spate of bad news, a quarter that misses expectations, or a bad sales… Source link

Stock futures opened lower Thursday evening to extend a risk-off mood in markets, with the three major indexes pulling back from record levels as concerns over the pace of the economic recovery flared.  Contracts on the S&P 500 ticked down. The index closed lower by 0.9% during the regular trading day, with the financials and industrial sectors coming in as the biggest laggards. The Dow and Nasdaq each also dropped during the session, but closed well off intraday lows. U.S. equity investors… Source link

This story has been updated to include a statement from the Education Department. The Pennsylvania Higher Education Assistance Agency (PHEAA) — a national student loan servicer that has been criticized for failing to forgive the debts of public servants — is planning to exit the federal student loan servicing business in December of this year. PHEAA, which administers the Public Service Loan Forgiveness (PSLF) program and operates as FedLoan Servicing, has notified the Education Department… Source link

It’s far from a market in turmoil, but a day after stocks touched record highs it is a market getting drilled with some valid fears. The Dow Jones Industrial Average tanked nearly 500 points in early afternoon trading Thursday as investors showed concern that the plunge in the 10-year Treasury yield was signaling an economic growth slowdown later this year. Driving that potentially dreaded macroeconomic slowdown would be two factors, traders reasoned. First, the Delta variant of COVID-19 that… Source link

As the commercialization and industrialization of space becomes more of an inevitability with every successful launch by companies like SpaceX and Virgin Galactic (SPCE), space debris, or space junk, is becoming a growing concern of both corporate and government aerospace entities alike. The European Space Agency (ESA) estimated that there are 29,000 objects larger than 10 centimeters, 670,000 objects larger than one centimeter, and more than 170 million objects larger than one millimeter… Source link

Stocks sank Thursday to give back gains after a record-setting session, with investors nervously eyeing signs that the economic recovery might get derailed. The S&P 500, Dow and Nasdaq were each off by more than 1%. This marked the first time since June that the S&P 500 opened more than 1% lower. A day earlier, the blue-chip index rose to a record closing high for the eighth time in the last nine sessions as concerns over a near-term monetary policy adjustment and sustainably high inflation… Source link

Nigel Kinrade/NKP/Motorsport Images/Shutterstock / Nigel Kinrade/NKP/Motorsport Images/Shutterstock Baby Doge, a “new crypto birthed by fans of the Doge Coin online community,” is making its NASCAR debut Saturday, as the coin’s branding will be featured on driver Brandon Brown’s No. 68 Chevrolet Camaro. See: Visa Crypto-Linked Cards Have Amassed $1 Billion in Spending so Far this Year, Company Launches New Card with BlockFiFind: Is the Shiba Inu Coin the Cryptocurrency You Should Be… Source link

If Beyond Meat could get people quickly ordering its newest innovation, perhaps the chicken shortage plaguing restaurants may ease by the year 2023.  On Thursday, the plant-based food company led Ethan Brown took the wraps off its new breaded chicken tenders. The tendies — as one would surmise from Beyond Meat — are plant-based, with the starring ingredient giving it a chicken flavor being the fava bean.  Beyond Meat (BYND) is no stranger to the faux chicken game. At one-time it sold… Source link