Author: Press Room

Mohammed Haneefa Nizamudeen/iStock via Getty Images Piper Sandler said it expects upcoming results from a Novo Nordisk (NVO) study of its weight-loss drug semaglutide in the treatment of osteoarthritis to be “mediocre” and demand for knee and hip replacements to increase near-term as more patients qualify for surgery due to weight loss. The investment bank said in a recent note that the Novo Nordisk Phase 3 study, called STEP 9, will likely show that some osteoarthritis patients who took semaglutide felt less joint pain due to reduced strain on their joints. However, it doesn’t believe the results would have a…

© Reuters. Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File photo (Reuters) – hit $40,085 on Sunday, its highest in almost a year and a half, fuelled by bets that U.S. regulators will soon approve stock-market traded bitcoin funds. Bitcoin was up 1.55% at 2234 GMT, adding $611 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 51.1% from the year’s low of $26,533 on Oct. 11. Bitcoin has more than doubled in price so far this year, recovering to its levels…

Gov. Ron DeSantis of Florida said on Sunday that, if elected president, he would pursue legislation that would “supersede” the Affordable Care Act, echoing former President Donald J. Trump’s comments, which Democrats seized upon last week.“What I think they’re going to need to do is have a plan that will supersede Obamacare, that will lower prices for people so that they can afford health care, while also making sure that people with pre-existing conditions are protected,” Mr. DeSantis said on NBC’s “Meet the Press.” He went on to say that repealing and replacing the Affordable Care Act was a broken…

The US Supreme Court will decide whether Purdue Pharma’s bankruptcy settlement will stand.The company, built by the billionaire Sackler family, declared bankruptcy in 2019 amid countless lawsuits.The decision could have wide-ranging effects on how companies and organizations use bankruptcy court. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The US Supreme Court is set to hear a case that could have extraordinary consequences for companies that claim bankruptcy when faced with personal injury lawsuits – namely the Sackler family of billionaires who have been…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.AstraZeneca has signed a deal worth up to $247mn with Absci Corporation of the US to design an antibody to fight cancer, the latest tie-up in fast-expanding efforts to use artificial intelligence for drug discovery.The collaboration aims to harness Absci’s AI technology for large-scale protein analysis to find a viable oncology therapy — a leading focus of Anglo-Swedish drugmaker AstraZeneca.The partnership adds to a flurry of agreements between big pharmaceutical companies and young AI businesses to build novel disease treatments and cut…

Sen. Lindsey Graham, R-S.C., on Sunday countered a warning from former Rep. Liz Cheney, R-Wyo., about the re-election of former President Trump dooming the American republic, saying that the re-election of President Biden would be disastrous for the entire world.Graham appeared on CNN’s “State of the Union” and was asked to respond to Cheney’s remark during an interview over the weekend that a second Trump presidency means that the U.S. is “sleepwalking into a dictatorship.””I understand why people don’t like what he does and says at times,” Graham said of Trump, “but in terms of actions and results, he was…

Family wealth passed alonggetty With individual retirement accounts, whether of the Roth or the original variety, you pay taxes at some point. Have you ever wondered if an analogous vehicle exists that is free of estate tax? There is: a grantor retained annuity trust, or GRAT. We learn more about GRATs from Darius Gagne, chief investment officer of Quantum Financial Advisors, LLC based in Santa Monica, Calif. Larry Light: GRATs are commonly considered part of advanced estate planning. Can you explain more about why we should take note? Darius Gagne: Yes, advanced estate planning generally refers to strategies aimed at…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UN secretary-general António Guterres has criticised emissions reduction plans launched by COP28 climate summit president Sultan al-Jaber, saying they “clearly fall short of what is required”.Jaber, who has dual roles as chief executive of the Abu Dhabi National Oil Company and head of this year’s climate summit in Dubai, brokered a series of pledges as part of a new global decarbonisation alliance.But less than 24 hours after their launch, Guterres said the agreement “says nothing about eliminating emissions from fossil fuel consumption”.“Science…

© Reuters. FILE PHOTO: A passerby walks past an electric monitor displaying various countries’ stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File Photo By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Asian markets are poised to start the week on the front foot, emboldened by Wall Street’s late rally on Friday and plunge in U.S. rate expectations after Fed Chair Jerome Powell gave the clearest signal yet that the Fed is done raising interest rates and could soon move to cut them. The ‘s rise to its highest…

© Reuters Here is your weekly Pro Recap of the past week’s biggest headlines in the electric vehicle space: Tesla holds Cybertruck event; China EV deliveries; Rivian launches leasing. Get news like this in real time by signing up for InvestingPro: Tesla launches Cybertruck Tesla Inc (NASDAQ:) CEO Elon Musk took the stage Thursday in Austin, Texas to reveal details about the company’s long-awaited Cybertruck electric pickup, one day after he appeared in an interview at the DealBook Summit in New York. At that earlier event, Musk bragged about the launch event saying, “It will be the biggest product launch…