A divided Fed holds: US leaves interest rates unchanged as case for second rate hike in almost a decade strengthens September 21, 2016 The US Federal Reserve's rate-setting Federal Open Market Committee (FOMC) has voted to leave interest rates on hold but has set the scene for a hike before the end of 2016. The Fed raised its benchmark overnight interest rate to a range of 0.25 per cent to 0.50 per cent in December – the first rate hike [...]
Wireless broadband provider Relish launches same-day broadband service September 21, 2016 Rising demand for same day delivery services has spread to the broadband market. London wireless broadband provider Relish has announced it will deliver its 4G router by same day delivery, if orders are placed before 12pm. The announcement comes amid rising criticism of how long it takes some of the UK's biggest internet service providers to get [...]
Astrazeneca is withdrawing an EU marketing application for a cancer drug September 21, 2016 Big pharma firm AstraZeneca has been forced to withdraw a marketing application for a new cancer drug, due to disagreements with the European regulator. The drug Cediranib had been planned to be used in combination with chemotherapy to treat ovarian cancer but concerns over potential side effects raised by the by European Medicines Agency (EMA) have scuppered plans. The drug was shown to [...]
US teleco AT&T wants to send internet via power lines September 21, 2016 US teleco AT&T has unveiled ambitious plans for wireless internet using power lines. Amid rising concerns that fiber broadband is going to be too costly and difficult to roll out nationwide, tech and telecoms firms are searching for alternatives to traditional internet connections. AT&T reckon the technology will be easier to deploy than fiber, can run over license-free spectrum [...]
Investors want €8.2bn in damages from VW over the emissions scandal September 21, 2016 The Volkswagen emissions scandal – which recently spread to US car supplier Bosch – could be about to land VW with a bill for €8.2bn (£7bn) in claims from investors. A German court has said around 1,400 lawsuits in relation to the long running emissions scandal have been lodged at the regional court near VW's Wolfsburg headquarters in Germany, Reuters reports. On Monday alone – the [...]
Before the bell: What you need to know before the US market open September 21, 2016 Markets are already cheering the US Federal Reserve and Mylan's chief executive is set to answer questions on the latest drug pricing scandal. Here's what you need to know before the US open at 2:30pm. The US pre-market is climbing ahead of the open, betting the Fed will not move to hike interest rates when it [...]
Firms call for infrastructure spend before the beginning of Brexit talks September 21, 2016 London businesses want increased infrastructure spending before the beginning of Brexit negotiations, according to a new survey. More than four in five London businesses say increased investment in infrastructure is important for the UK economy in the period between the referendum and the start of Brexit negotiations, according to a ComRes poll on behalf of the [...]
Playing at home: Barratt plans Upton Park housing overhaul September 20, 2016 Upton Park, the former home of football team West Ham United, is set to be made in to 842 new homes in the London Borough of Newham. Residential property developer Barratt London has taken on the project and plans to rename the area Upton Gardens. The plans include 211 so-called affordable homes. Read more: West Ham's Karren [...]
US-based Regeneron and Israeli pharma firm Teva race Eli Lilly and Pfizer to bring a new pain drug to market September 20, 2016 US-based Regeneron Pharmaceuticals and Israeli drugmaker Teva Pharmaceutical Industries are rushing to beat US rivals Eli Lilly and Pfizer to market with a new type of pain drug. Regeneron and Teva said today they are planning to co-develop and market Regeneron's experimental drug new type of pain drug if it succeeds in trials and is approved. Teva will pay Regeneron $250m (£192m) and share the new injectable drug's [...]
Pharma firms have promised to clean up polluting factories and stop people from over using antibiotics September 20, 2016 Some of the world's biggest pharma firms have pledged to crack down on pollution and curb overuse of antibiotics. A total of 13 global drugmakers, including Pfizer, Merck, Novartis, GlaxoSmithKline and Allergan, as well as Indian drugmakers Cipla and Wockhardt, said they would clean up pollution from factories making antibiotics and combat the overuse that's led to [...]
