Business News

  • FDA Approves Breast-Cancer Drug
    The FDA approved a powerful new type of drug that will be marketed by Roche to treat breast cancer.
  • Einhorn Wins Bid to Block Apple Vote
    A federal judge granted a bid by Greenlight Capital Inc. to block an upcoming Apple proxy vote, a legal victory for the hedge fund in its broader campaign to convince the company to part with its cash hoard.
  • Tobacco Critic to Join FDA
    A veteran tobacco-industry critic is taking the reins as the industry’s chief regulator, heralding potentially tougher oversight of cigarette companies.
  • New York Times Was Offered More Than $100 Million for Boston Globe
    New York Times Co. received a formal bid valuing the Boston Globe at more than $100 million last month from a former Globe executive and a Boston private-equity firm.
  • Google Said to Be Eyeing Spotify-Style Streaming
    Google Inc.’s Android unit has been negotiating with music companies to start a paid subscription music-streaming service akin to Spotify AB, say people familiar with the matter.
  • Patriot Coal Seeks More Benefit Cuts
    Patriot Coal, which is in bankruptcy-court proceedings, plans to seek to terminate the health benefits of up to 1,000 salaried retirees, according to court filings.
  • Microsoft Discloses It Too Was Hit by Hackers
    Microsoft said its computers were hit by cyberattacks similar to those recently reported by Facebook and Apple. Meanwhile, its Windows Azure service suffered an outage.
  • FAA Says 787 Can’t Return to Service Until Risks Addressed
    FAA officials reiterated that the agency won’t permit the 787 to return to service until officials are confident safety risks over the jetliner’s lithium-ion batteries have been addressed.
  • Maersk Gives Shipping Warning
    Danish oil and shipping company A.P. Moller-Maersk posted a rise in net profit thanks to higher freight rates and cost-reduction schemes, but the shipping business will remain under pressure in 2013 due to a glut of industry capacity and modest growth prospects.

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