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☆ Lilly says experimental Alzheimer's drug reduces amyloid in small study
▼ + stars: | 2023-03-31 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

The higher the dose of the antibody drug, which was given by subcutaneous injection, the larger the effect, Lilly said. The Indianapolis-based drugmaker is launching a Phase III study of the experimental antibody, remternetug, but declined to comment on which doses will be selected for larger, later-stage trials. Lilly, at a medical conference in Gothenburg, Sweden, presented interim data from 41 study participants. Trial results published last year showed that, in patients with early Alzheimer's, Leqembi reduced the rate of cognitive decline by 27% compared with a placebo. Brooks said that sharing its early remternetug data "reinforces Lilly's commitment and investment in the Alzheimer's disease space ...

☆ Top Democrat gives 'failing grade' to Biden administration on classified documents
▼ + stars: | 2023-03-29 | by ( Ginger Gibson | ) www.cnbc.com time to read: +3 min

WASHINGTON — Sen. Mark Warner, the Democratic chairman of the Senate Intelligence Committee, chided the Biden administration Wednesday for the lack of information being shared about classified documents that were found at the homes of current and former presidents. "This is where the Biden administration gets an absolute failing grade," Warner said on MSNBC's "Andrea Mitchell Reports." Lawmakers have become increasingly critical of administration officials ignoring requests to be briefed on the classified documents that have been found. Hundreds of pages of documents with classified markings were recovered from Mar-a-Lago, former President Donald Trump's Florida home and private club. Months later, a handful of documents were found at an office used by current President Joe Biden before he was elected.

☆ Biden issues his first veto, nixing measure blocking new investment rule
▼ + stars: | 2023-03-20 | by ( Zoë Richards | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden speaks during the annual Friends of Ireland luncheon in honor of Ireland's Prime Minister (Taoiseach) Leo Varadkar at the U.S. Capitol in Washington, U.S., March 17, 2023. President Joe Biden on Monday issued his first veto since taking office, rejecting a bipartisan measure that would nullify a new administration rule for retirement plans. In the Senate vote, Democratic Sens. Rep. Andy Barr, R-Ky., introduced the measure in February, about two months after the Labor Department issued the investment rule. Following the Senate vote, Barr tweeted: "President Biden should abandon the radical climate activists and join us in putting middle-class savers ahead of politics."

☆ South Koreans sceptical as president offers olive branch to Japan
▼ + stars: | 2023-03-16 | by ( Ju-Min Park | ) www.reuters.com time to read: +5 min

SEOUL, March 16 (Reuters) - As South Korean President Yoon Suk Yeol landed in Tokyo on Thursday his plan to patch up relations with Japan faces lingering scepticism at home. Sixty-four percent of the respondents said South Korea did not need to rush to improve ties with Japan if there were no change in Tokyo's attitude, according to the poll. Yoon is the latest of many South Korean conservatives who embrace the argument that Seoul must heal divides with Japan to confront security challenges. Boycotts of Japanese products and vacations have largely faded in South Korea, and a growing number of South Koreans are travelling to Japan as COVID restrictions ease. Three Japanese animated films are among the top five at box office in South Korea.

Eight other people were wounded, including a seven-months pregnant woman who lost her unborn daughter, police and prosecutors said at a news conference. Authorities identified the gunmman only as Philipp F. The 35-year-old, a German citizen and former Jehovah's Witness, began shooting through a window at the hall, where dozens of people were gathered, before entering. Following the previous shootings, Germany introduced stricter gun ownership rules and the government has announced plans to tighten controls further. Jehovah's Witnesses are an international Christian denomination that was founded in the United States in around 1870. The officials said about 50 people were at an event held in the Jehovah's Witness Kingdom Hall in the Alsterdorf district of the city when the shooting started.

☆ This biotech startup has a chance to grab a piece of the lucrative obesity drug market, analysts say
▼ + stars: | 2023-02-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Enter biotech startup Structure Therapeutics , which is hoping to change that regimen with oral GLP-1 formulations for obesity and type 2 diabetes treatment. The stock rallied 73% in its first day of trading, but has pulled back in the weeks since its debut. Novo Nordisk's Wegovy and Ozempic are currently on the market and approved to treat obesity and type 2 diabetes. BMO was among the group of investment banks acting as joint book runners for Structure's IPO. (Jefferies was the lead book runner in Structure's IPO.)

☆ EY selects Australian battery group as preferred bidder for Britishvolt
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Feb 6 (Reuters) - Accounting firm EY on Monday said it selected Scale Facilitation Partners and its Australian subsidiary Recharge Industries as the preferred bidder to buy struggling UK startup Britishvolt out of administration. EY's restructuring arm EY-Parthenon were appointed administrators of Britishvolt in January after the company struggled to raise funds for a major electric vehicle battery factory in northern England and stay afloat. The deal was expected to be completed within the next seven days, EY said in a statement on Monday. Britishvolt, Recharge Industries and Scale Facilitation did not immediately respond to Reuters request for comment. Britishvolt has been in talks with a consortium of investors about selling a majority stake in the company, the company said earlier this month, without disclosing any names.

☆ Fed's Lael Brainard among leading contenders for top White House economic post
▼ + stars: | 2023-01-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Federal Reserve Vice Chair Lael Brainard is a top candidate to take the most important economic position in the White House. Biden named Brainard vice chair at the Fed in 2022; she also was considered as a possible successor to Fed Chair Jerome Powell, whom Biden reappointed last year. Brainard is one of multiple candidates being considered and interviews for the position are continuing, according to a White House spokesman familiar with the matter. For her part, Brainard could garner support from progressives who are in favor of strong bank regulation and easier monetary policy.

☆ U.S. begins buying back oil for strategic petroleum reserve
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +2 min

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile. The department will buy up to 3 million barrels for delivery in February, a senior official told reporters. The sale shrunk levels in the SPR to about 380 million barrels, their lowest since 1984, raising concerns about energy security. "We'll be releasing a solicitation to purchase 3 million barrels of oil for delivery in February of next year, 2023," the official said. "We are able to do that at the same time we're doing the 3 million barrel buy-back," the official said.

Hong Kong CNN —A Hong Kong court on Saturday sentenced jailed media mogul Jimmy Lai to five years and nine months in prison for fraud, in the latest legal challenge against the pro-democracy tycoon. Along with the jail sentence, Lai was also fined 2 million Hong Kong dollars ($257,000) and disqualified as a company director for eight years. Lai, who has been remanded in custody for almost two years, is also facing a trial under Hong Kong’s sweeping national security law. However, cases under the national security law are handled by a dedicated branch of the Hong Kong police and designated national security judges, raising concern about Beijing’s potential influence on proceedings. In November, Hong Kong’s highest court upheld a verdict to allow a British barrister to represent the tycoon in his national security case.

☆ Merck could keep its patent edge by shifting Keytruda cancer drug to a simple shot
▼ + stars: | 2022-12-02 | by ( Michael Erman | ) www.reuters.com time to read: +7 min

If successful, Merck could begin marketing the new formulation within a few years, a top Merck executive told Reuters. "The clock for that patent would start ticking from the time we would get that patent approved." Drug patents have a guaranteed term of exclusivity for 20 years after receiving a patent under U.S. law, but sometimes the companies are able to add additional patents that extend their exclusivity. Merck's patents on the subcutaneous version of Keytruda could protect that formulation until at least 2040, according to Tahir Amin, co-founder of drug patents watchdog group Initiative for Medicines, Access & Knowledge (I-MAK). Northwell's Mulloy said moving patients to subcutaneous versions of drugs also opens up spots in infusion centers for additional patients.

☆ UK retailer Next to buy collapsed rival Joules - media reports
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - British fashion chain Next Plc (NXT.L) has secured a deal to buy collapsed retailer Joules (JOUL.L) out of administration, according to media reports on Thursday. Before Joules went into administration, Next was in talks with the company over a potential 15 million pound equity investment, but talks were eventually terminated. Last month, some reports said South African fashion retailer TFG (TFGJ.J), the owner of British brands such as Phase Eight, Hobbs, Whistles and Damsel, was also in the race to buy Joules. loadingNext, TFG, M&S, Frasers and Joules' administrator, Interpath Ltd, did not immediately respond to Reuters' requests for comment. TFG's chief executive on Wednesday had declined to comment on reports that it was buying Joules.

[1/7] U.S. Rep. Hakeem Jefferies (D-NY) walks on the day of House Democratic leadership elections on Capitol Hill in Washington, U.S., November 30, 2022. The vote by Jeffries' fellow Democrats also marked the rise of a younger generation of leaders in the 435-member House and the end of the Nancy Pelosi era. In 2007 she became the first woman to be elected House speaker. Jeffries, a 52-year-old New Yorker, will hold the position of House Democratic leader for the 118th Congress that convenes on Jan. 3. Democratic Senate Majority Leader Chuck Schumer said he was not surprised that Jeffries, a fellow Brooklynite, was chosen.

☆ U.S. House Democrats set to elect Hakeem Jeffries as first Black party leader
▼ + stars: | 2022-11-30 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Jeffries, a 52-year-old New Yorker, is running for House Democratic leader for the next two years. If he is elected as expected during closed-door voting, he would become the first Black person to hold a top party leadership job in the House or Senate. "Meaningful policymaking and public engagement opportunities should be robustly distributed regardless of length of service," Jeffries wrote in a letter to fellow Democrats. Running for election as part of Jeffries' team are Representative Katherine Clark, 59, who is seeking the No. 2 Democratic whip job, and Pete Aguilar, 43, vying for Jeffries' current job of Democratic caucus chairman.

☆ Results: Republican Sen. Lisa Murkowski defeated Trump-endorsed Kelly Tshibaka in Alaska's Senate election
▼ + stars: | 2022-11-28 | by ( Hanna Kang | Bartie Scott | ) www.businessinsider.com time to read: +6 min

Sen. Lisa Murkowski ran against fellow Republican Kelly Tshibaka and Democrat Patricia Chesbro, but the battle was largely between the two Republicans. Tshibaka was endorsed by Donald Trump, while Murkowski had the endorsements of several high-profile Democrats, including Sen. Joe Manchin. Republican Sen. Lisa Murkowski defeated Democrat Patricia Chesbro and fellow Republican Kelly Tshibaka in Alaska to represent the state in the US Senate. Her Republican challenger, Tshibaka, raised $4.8 million, spent $4.2 million, and had $692,428 cash on hand, as of October 19. Murkowski benefitted from most of that spending, including a $6.1 million boost from the Senate Leadership Fund, a national Republican super PAC.

Sen. Lisa Murkowski has won re-election in Alaska, NBC News projected Wednesday, dealing former President Donald Trump another loss in what has largely been a miserable midterm cycle for his hand-picked candidates in competitive Senate races. Murkowski, one of only seven Republicans who voted to convict Trump at his second impeachment trial, survived a challenge from Trump-endorsed Kelly Tshibaka, a former Alaska Department of Administration commissioner. Murkowski, Tshibaka, Democrat Patricia Chesbro and Republican Buzz Kelley all advanced from a nonpartisan August primary. The Alaska Republican Party censured her and Trump began calling her the “disaster from Alaska,” ultimately backing Tshibaka to challenge her. Murkowski also is known for her moderate profile in the Senate and for her willingness to work with Democrats.

The Alaska Senate race is headed to a ranked choice runoff, as no candidate on the ballot, including the top two vote-getters, GOP Sen. Lisa Murkowski and GOP challenger Kelly Tshibaka, will reach 50%, according to NBC News. In ranked-choice elections, voters identify first choices on their ballots, then rank the other candidates in order of preference. If no candidate receives a majority of first-choice votes on the first count, the election moves to an instant runoff. In 2020, Alaska voters approved a move to nonpartisan primaries that send the top four vote-getters to ranked choice general elections. ET): A previous version of this article misstated when Alaska voters approved a move to nonpartisan primaries and ranked choice general elections.

☆ Britain's Next to buy failed furniture retailer Made.com with 500 jobs at risk
▼ + stars: | 2022-11-09 | by ( ) www.cnbc.com time to read: +1 min

British fashion retailer Next will buy the brand of collapsed online furniture seller Made.com after it fell into administration, putting around 500 jobs at risk. Made had a nearly 18-month run as a public company, selling sleek furniture online, backed by a large advertising budget. It performed particularly strongly during the COVID-19 pandemic as shoppers, stuck at home, spent freely on sofas, coffee tables and lamps. Made, which currently employs around 500 people, could see its entire workforce laid off, a source familiar with the matter said. Next, which trades from over 500 stores and online, has been picking up stakes in or acquiring smaller retailers in recent years including brands such as Victoria's Secret UK and Reiss.

☆ Republican Sen. Lisa Murkowski faces off against Trump-endorsed Kelly Tshibaka and Democrat Patricia Chesbro in Alaska's US Senate election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +5 min

Sen. Lisa Murkowski is running against fellow Republican Kelly Tshibaka and Democrat Patricia Chesbro to represent Alaska in the US Senate. Tshibaka is endorsed by Donald Trump, while Murkowski has the endorsements of several high-profile Democrats, including Sen. Joe Manchin. Republican Sen. Lisa Murkowski faces off against Democrat Patricia Chesbro and fellow Republican Kelly Tshibaka in Alaska to represent the state in the US Senate. Her Republican challenger, Tshibaka, has raised $4.8 million, spent $4.2 million, and has $692,428 cash on hand, as of October 19. Murkowski has benefitted from most of that spending, including a $6.1 million boost from the Senate Leadership Fund, a national Republican super PAC.

☆ UK's Morrisons to close McColl's stores; 1,300 jobs at risk
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 1 (Reuters) - British supermarket group Morrisons is to close 132 McColl's convenience stores that have no realistic prospect of making a profit in the medium term, it said on Tuesday, putting 1,300 workers at risk of redundancy. Morrisons bought the McColl's chain out of administration in May but the deal was not cleared by the competition regulator until last month. It said that every affected worker would be offered alternative employment at a nearby McColl’s store, Morrisons store, logistics operation or foodmaking centre. McColl's currently trades from 1,164 stores, 286 of which trade under the Morrisons Daily fascia. Morrisons' plan is to have more than 1,000 stores trading as Morrisons Daily within two years.

☆ Mike Ashley's Frasers raises Hugo Boss exposure and buys ASOS stake
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

A Frasers spokesperson also confirmed a Telegraph report that the British sportswear and apparel retailer now holds more than 5% of ASOS. Frasers first took a stake in Hugo Boss - a supplier to its House of Fraser and Flannels chains - in 2020. The group this month disclosed a 4.5% stake in online clothing retailer N Brown (BWNG.L) and is also seeking full ownership of Australian online retailer Mysale (MYSL.L). It also bought online retailer Studio Retail in February. Shares in Frasers firmed by 0.6% while shares in Hugo Boss were up 0.2%.

☆ Factbox: Outspoken British billionaire Mike Ashley
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Sept 20 (Reuters) - Mike Ashley, one of Britain's most outspoken business leaders, will step down as a director at sportswear and fashion retail group Frasers (FRAS.L) in October, months after handing over the CEO role to his daughter's partner. read moreAshley, 57, has been frank and outspoken about rivals and politicians. His love of casinos and stories of settling banker fees by playing bar games, as well as clips on YouTube showing him sinking a pint of beer in a few seconds, have fed an image of a maverick far removed from the typical British business chiefHere are some facts on the British billionaire:Register now for FREE unlimited access to Reuters.com Register* At 18, Ashley started his first sports and ski shop in 1982 on a high street in the southern English town of Maidenhead, with the help of a 10,000 pound loan from his parents* By the late 1990s, he had opened 100 stores across the UK, rebranding his chain as Sports Soccer* He then took the company public under the name Sports Direct in 2007; The company is now worth 3.75 billion pounds ($4.29 billion) and Ashley is worth 4.02 billion pounds as of June 2022, according to Forbes* In 2007, Ashley also bought British Premier League soccer club Newcastle United, which in 2021 was bought out by a Saudi-Arabian backed consortium after a long-running takeover saga* Known for his acquisition of fellow retailers, Ashley bought a stake in House of Fraser in 2014, and over the years, has taken positions in Debenhams, MySale (MYSL.L), Tesco (TSCO.L), Adidas (ADSGn.DE) and Hugo Boss (BOSSn.DE)* He was heavily criticised by senior British politicians and unions after an investigation in 2015 revealed some workers at Sports Direct received less than the minimum wage* Calls for him to step down as Sports Direct chairman were rejected by the company and Ashley was made CEO* Sports Direct purchased House of Fraser out of administration in 2018 and in 2019 after the merger, he rebranded the Sports Direct empire as Frasers* Ashley stepped down as Frasers CEO early this year, handing over the baton to his daughter's partner Michael Murray, who married his daughter in May; Ashley has three children(Sources: Company website, Reuters reports and UK government website)(1 British pound = $1.1442)Register now for FREE unlimited access to Reuters.com RegisterReporting by Radhika Anilkumar in Bengaluru; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Mexican president expropriates land for construction of Mayan Train
▼ + stars: | 2022-08-01 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Aug 1 (Reuters) - Mexican President Andres Manuel Lopez Obrador expropriated 1.09 million square meters (269 acres) for the construction of the Yucatan peninsula's planned Mayan Train railway, according to the official gazette published Monday. The 1,500 km (930 mile) line is already under construction, with the aim of linking tourist zones. Lopez Obrador deemed it a matter of national security at the end of July as several pending legal injunctions clouded its future. Monday's announcement said the Ministry of Agrarian, Territorial and Urban Development would compensate land owners in line with appraisals from the Institute of Administration and Appraisals of National Assets. Lopez Obrador also strengthened control of the construction operation by transferring Grupo Mexico's building contract to the defense secretary.

Persons: Andres Manuel Lopez, Lopez Obrador, Valentine Hilaire, Bradley Perrett Organizations: MEXICO CITY, Ministry of Agrarian, Territorial, Urban, Institute of Administration, Assets, Grupo Mexico's, Thomson Locations: MEXICO, Yucatan

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