Business

UnitedHealth seeks more clarity on Biogen’s $56,000 Alzheimer’s drug coverage

UnitedHealth Group Inc (UNH.N) said it needed more time to determine its coverage policy for Biogen’s recently approved $56,000 Alzheimer’s disease drug Aduhelm that is expected to raise costs for the U.S. government Medicare program. The government’s Medicare program and private health insurers such as UnitedHealth, which sell Medicare Advantage plans for those aged above […]

Business

Beyond Meat opens JD.com store amid China consumer caution on meat substitutes

Beyond Meat (BYND.O) said on Thursday it has launched an online store in China on JD.com’s (9618.HK) ecommerce platform, as the plant-based meatmaker aims to boost sales in the world’s biggest meat market where consumer interest in meat alternatives is low. U.S.-based Beyond Meat said in a statement the JD.com store will initially help expand […]

Business

UniCredit CEO Orcel steps up management shakeup

UniCredit (CRDI.MI)announced further senior management changes on Thursday as new Chief Executive Andrea Orcel presses ahead with plans to streamline the bank ahead of any eventual merger. In May, less than a month after taking the job, Orcel reshaped top management, overhauling a structure designed by his predecessor Jean Pierre Mustier. “Today’s announcement is a […]

Business

Return to the U.S. office? Ask the CEO

Apple Inc (AAPL.O) CEO Tim Cook wants his employees back in the office sooner than many of his peers. Citigroup Inc (C.N) CEO Jane Fraser is bucking a trend on Wall Street by giving her employees more flexibility in returning than her major rivals. The questions of if, when and how often white-collar employees should […]

Business

U.S. manufacturing output dips as chip shortage weighs on motor vehicles

Output at U.S. factories unexpectedly fell in June as motor vehicle production dropped amid an unrelenting global semiconductor shortage. Manufacturing output dipped 0.1% last month after accelerating 0.9% in May, the Federal Reserve said on Thursday. Economists poll had forecast manufacturing output climbing 0.2% in June. Output at factories grew at a 3.7% annualized rate […]

Business

Sydney Airport rejects $17 bln buyout proposal amid deal frenzy

Sydney Airport Holdings Pty Ltd (SYD.AX) said on Thursday it would reject a A$22.26 billion ($16.6 billion) takeover proposal from a group of infrastructure funds, the biggest of a frenzy of Australian deals fuelled by record-low interest rates. The operator of Australia’s largest airport said directors had unanimously concluded the proposal undervalued the airport and […]

Business

Big banks seek to curb “speculative” planned UK forex class action

A proposed multi-billion pound claim against powerful banks over alleged foreign exchange (forex) rigging is too weak and speculative to be allowed to proceed as a U.S.-style class action, the banks’ lawyer told a London court on Wednesday. Brian Kennelly said JPMorgan (JPM.N), Citigroup (C.N), Barclays (BARC.L), UBS (UBSG.S), NatWest (NWG.L) and MUFG Bank (MTFGTU.UL) […]