With an objective of not giving any such scope for price escalation as Martin Shkreli did for Daraprim generic drug, US Food and Drug Administration (US FDA) has turned very cautious on approvals to generic drugs. US FDA is now reviewing new applications for generic drugs, while ensuring no such lapses of price escalation.
Industry
Fastjet Bows To Founder’s Call Removing CEO And General Counsel With Immediate Effect
Fastjet founder Stelios Haji-Ioannou has called for removing its CEO and suggested for other restructuring. Though the African budget carrier has decided for keeping the CEO as an advisor for another year, but finally decides to address its founder’s call. However, the founder has accused the Fastjet CEO for representing unrealistic revenue forecast.
Fever-Tree FY15 profit increases helped by growing demand
Fever-Tree announced an increase of 71% in revenues for the year ended December 31, 2015. The company's profit was helped by its recent deals with EasyJet, British Airways and Marks & Spencer.
New Jersey Will Vote to Decide Casino Expansion in Northern Part of the State
Voters will decide whether to approve the expansion of casino in New Jersey beyond Atlantic City. A referendum will be held in November as state's legislature approved the ballot plan on Monday.
Uber Negotiates With Moscow’s Transportation Department, Signs Collaborative Agreement
Uber allows alternative measure of getting expensive taxi driving licenses and offers low cost ride to the lower income people. But Moscow, unlike some other countries with stricter transportation laws, prohibits such service. Moscow has been persuading for long and finally gets success in compelling Uber to sign agreement which limits its service to the licensed drivers only.
Latest News
The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.
The turbulent situation Japan's banking sector is likely to impact global markets. A leading hedge fund manager says that collapse in the Japan's banking industry blindsides the market, while shrugging off any possibility of banking crisis in the world's third largest economy.
New York-based Avon Products Inc is shifting its headquarters to the UK. It's also in the process of reducing headcount by about 2,500 and investing in technology and innovation to enhance sales volume.
Oil prices might have propelled above $40 a barrel level in the past week as Iran was expected to join other producers to freeze its oil output. However, Iran wants to help its ailing economy, regardless of the oversupply.
Sports apparel Under Armour have surpassed Nike in athlete's endorsement. Many top athletes from NBA, NFL, tennis pro, professional golfers and others are now under contract with Under Armour.
A lawsuit filed on March 8 claimed that Sequoia Capital’s partner Michael Goguen has sexually, physically, and emotionally abused a woman for 12 years. Mr Goguen has been dismissed from the firm regarding the case and is seeking to file a cross complaint and prove he’s not guilty of the alleged crimes.
South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.
Air New Zealand has joined hands with Virgin Australia to scrutinise options for internally manufactured aviation biofuel. The move mirrors airlines' effort to reduce aviation impact on global warming.
Australian tech companies are heading to Singapore to support their businesses. Some tech companies are expecting Singapore to be one of the startups landing pads established by the Australian government to help companies access the global business network.
