Business

Barriers into the pharmaceutical business might be too high even for Amazon, said billionaire hedge-fund manager Larry Robbins. Last fall, a report surfaced that the e-commerce giant had obtained wholesale pharmacy licenses in multiple states in an attempt to enter the pharmaceutical market and decrease rising health-care costs. While Robbins acknowledged Amazon will likely try
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The pan-European Stoxx 600 closed provisionally 0.37 percent higher with the majority of different sectors in buy mode. The media sector was the worst performer in late morning trade, down by more than 1 percent. That basket was not helped by news that Ford was trimming its business with advertising conglomerate WPP. Among household goods,
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General Electric shares rose as much as 7 percent Friday after the Dow component’s upbeat first-quarter earnings. But few – if any – on Wall Street are calling it a comeback. “There’s absolutely no change to our thesis here,” J.P. Morgan analyst Stephen Tusa told CNBC’s “Squawk on the Street.” Tusa said GE’s overall number
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The stakes are high for Apple as it fights to keep its place as the most valuable public company in the business world. The iPhone giant reports quarterly earnings on May 1, by which time iPhone X sales should be baked in to its results. Apple doesn’t usually release sales numbers of individual models. The
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European leaders can build trust and fight populist threats by touting the economic benefits of closer integration, Italian Finance Minister Pier Carlo Padoan said Thursday. In a CNBC Facebook Live interview at the World Bank and International Monetary Fund’s Spring Meetings 2018 in Washington, Padoan said strengthening euro area reforms would build more trust across
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Olivia Harris | Reuters Authorities around the world, including the United States, Switzerland and Singapore have looked into anti-money laundering breaches relating to 1MDB. The financial scandal — one of the world’s biggest — has rocked Malaysian politics and involves players as diverse as Goldman Sachs and Hollywood. The state of 1MDB’s finances has been
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Sleep Number shares dropped as much as 13 percent Thursday after the company failed to meet earnings and revenue expectations. The bed manufacturer reported disappointing earnings results. First quarter profit came in at 52 cents versus the 56 cent consensus estimate, according to FactSet. Revenue for the period was $389 million, short of the $397
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Swiss engineering giant ABB is seeing strong growth momentum in developing markets ranging from Asia to Africa, the president and chief executive told CNBC Thursday. “Asia, Middle East and Africa is really performing very well,” ABB’s Ulrich Spiesshofer told CNBC’s “Squawk Box Europe” Thursday, following the company’s first-quarter earnings report that showed a 20 percent
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