Biogen and Sobi announce positive results from Phase 3 study rFVIIIFc

Biogen Idec and Swedish Orphan Biovitrum, or Sobi, announced positive results from A-LONG, a clinical study that evaluated a new long-lasting clotting factor candidate in people with hemophilia A. Hemophilia A is a rare inherited disorder that impairs blood coagulation. Top-line results from A-LONG, a global, multi-center, Phase 3 clinical study of the companies' long-lasting recombinant Factor VIII Fc fusion protein, or rFVIIIFc, showed that rFVIIIFc was effective in the control and prevention of bleeding, routine prophylaxis and perioperative management. Recombinant FVIIIFc was generally well-tolerated. Additional analyses of the A-LONG study are ongoing, and the companies anticipate presenting detailed results at a future scientific meeting.

  • Business

    Banks are preparing for an ‘economic nuclear winter'

    The first half of 2016 has been a roller-coaster for financial markets. A combination of uncertainties surrounding the U.K.'s vote to leave the European Union and weaker-than-expected corporate earnings results across the region means a tough second half looms. European banks, in particular, have had a very tough six months as the shock and volatility around Brexit sent banking stocks south.

    CNBC
  • Technology

    Is Samsung far ahead of Apple? Marc Benioff appears to think so

    Technically Incorrect offers a slightly twisted take on the tech that's taken over our lives. I rather thought that tech CEOs all go around being nice to each other in public and only offering criticisms of other CEOs' companies through Masonic-like winks, nods and code words. I was moved, therefore, on Saturday night when I saw splendidly forthright Salesforce CEO Marc Benioff retweet this: "Crazy seeing Apple trying to catch Samsung. Battery life, waterproofing, blue color, front led light, &curved screens. Samsung set the standard." The original tweet was emitted by basketball coach Dennis Marshall. But did Benioff's apparent endorsement mean that a man who said there'd be no Salesforce without

    CNET
  • Business

    Wheels up for China's new aero-engine group

    China officially launched a new multi-billion dollar jet engine conglomerate with almost 100,000 employees at the weekend, as Beijing seeks to become an aerospace power and compete with the likes of Rolls Royce and General Electric. The Aero Engine Corporation of China (AECC) has registered capital of 50 billion yuan ($7.5 billion), and previous reports said it would incorporate subsidiaries of a series of state-owned firms, including the Aviation Industrial Corp. of China (AVIC). President Xi Jinping said founding the company was a "strategic move" to make China an aviation power and modernise the military, the official Xinhua news agency reported.

    AFP
  • Science

    China's Electric-Car Startups Face Wipeout

    Aug. 29 -- New regulations are expected to pull the plug on many of the 200 plus companies that make up China's electric car industry. The government is imposing strict standards on technology and could cap the number of manufacturers. Bloomberg's Kongho Chua reports on "Daybreak Asia."

    Bloomberg Video
  • Politics

    Cleaning Up After Trump Talks About Race: Worst Job in Politics?

    Jobs don’t get much more thankless than being the person designated to clean up after Donald Trump. Campaign manager Kellyanne Conway found that out this morning in a deeply uncomfortable interview with Fox News Sunday host Chris Wallace focused largely on the GOP nominee’s supposed outreach to African-Americans. The discussion was civil and measured, but Wallace was unsparing when he asked Conway to account for the way Trump has positioned himself thus far in the race with respect to the black community.

    The Fiscal Times
  • Business

    ‘Rich Dad’ author Robert Kiyosaki: If you’re investing for the long term, ‘you’re crazy’

    Robert Kiyosaki, author of several best-selling books including “Rich Dad Poor Dad,” joined MarketWatch for a live interview on Facebook today. He offered up insights on making money, becoming an entrepreneur and even touched on politics. Here are some highlights from the talk, or you can listen to the full interview here. His advice on how to get rich: “The rich do not work for money. Most people do not understand that, because they’re taught to go to school and get a job for money. The rich don’t work for money. And one of the reasons for that is money is no longer money. One of the reasons for that is in 1971, President Nixon took the U.S. Dollar off the gold standard and basically screwed

    MarketWatch
  • Politics

    You'll Be Shocked That Most People Don't Know These 4 Things About Social Security -- The Motley Fool

    Social Security is one of the most important social program for seniors in retirement. Research from Gallup suggests that almost 60% of current retirees rely on Social Security income to comprise a major part of their monthly income, while another 30% rely on Social Security as a minor income source. In theory, 90% of today's retirees could be in some degree of financial trouble if they didn't have Social Security in their corner. But the honest truth is that most people -- especially those who've yet to retire -- aren't well versed on the ins and outs of Social Security. When it comes to Social Security, ignorance is far from bliss, as ignorance to the program's rules could wind up costing you

    The Motley Fool
  • Politics

    Brexit may send EU 'down the drain' - German vice chancellor

    Germany's vice-chancellor has warned the future of the EU could be in doubt if the UK's exit is handled badly. Sigmar Gabriel said the EU would go "down the drain" if other states followed Britain's lead and that the UK could not keep the "nice things" about Europe while taking no responsibility. It comes as Theresa May summoned ministers for a meeting on Wednesday to discuss ideas for the UK's withdrawal. Downing Street said Brexit was "top" of the prime minister's agenda. But a report in The Sunday Times suggested her cabinet was split over leaving the single market. The UK voted to leave the European Union in a referendum vote on 23 June. Mr Gabriel, who is also economy minister in Germany's

    BBC News
  • Business

    Uber, rival Careem suspend services in UAE capital Abu Dhabi

    Ride-hailing service Uber said Sunday that it and competitor Careem have abruptly suspended services in the United Arab Emirates capital of Abu Dhabi due to "unforeseen circumstances," suggesting potential difficulties with local regulators. San Francisco-based Uber described the move as temporary and said it hopes to have more information in the next two days. "We want to let you know that this was a decision taken by both companies, and our goal is to resume operations in Abu Dhabi as soon as possible," Uber said in a statement.

    Associated Press
  • Business

    Saudi Seen Unconcerned by Fed Plan

    A potential U.S. interest rate hike next month is unlikely to deter Saudi Arabia's plans to sell at least $10B of bonds. Bloomberg's Matthew Martin reports on "Bloomberg Markets Middle East."

    Bloomberg
  • Business

    Why Dennis Gartman thinks these two assets 'don't make any sense' right now

    In a research note last week, Bank of America-Merrill Lynch noted that both assets were being bolstered by a 'flight to safety' stemming from risks in Europe, including the U.K.'s Brexit. Given this unusual occurrence, Gartman reasoned that investors may want to consider betting on gains for gold while selling Treasuries in weeks to come, particularly as skittishness over Federal Reserve interest rate policy continues to dominate. At Jackson Hole on Friday, Fed chair Janet Yellen's tone was interpreted as slightly hawkish. She noted that the "Fed has the tools to fight the next recession" and that she "anticipates that gradual rate hikes may be appropriate." However, not much clarity was given

    CNBC.com
  • Technology

    Are AT&T's and Verizon's no-overage policies really a good deal?

    Nobody likes getting socked with a charge for going over a monthly wireless data cap. And thanks to changes made by the nation's two largest carriers, those days may be over forever. Earlier this summer AT&T and Verizon said they'd eliminate charges for customers who bust their data caps, in exchange for slowing service to 2G speeds. It's a policy competitors T-Mobile and Sprint have offered for years. And it's likely to be a welcome change for many customers, who cringe every month when the phone bill arrives. But are the two big carriers really offering a good deal? In this edition of Ask Maggie, I help answer that question. Dear Maggie, I have two teenagers on my Verizon family plan, and they

    CNET
  • Business

    14 Things You Really Should Know About 401(k) Retirement Plans -- The Motley Fool

    Americans have a bounty of investment tools to choose from when preparing for retirement, but no investment vehicle is more popular in the United States than the employer-sponsored 401(k). As of 2010, based on data released by the Federal Reserve in 2013, there were 88.7 million workers in the U.S. participating in a 401(k) with roughly $4.5 trillion in assets being managed by mid-2013. The data also shows that more than 638,000 different 401(k) plans were being offered. As America's preferred retirement plan, it's important that you understand the ins and outs of what makes the 401(k) tick, because you retirement could very well depend on it. With this in mind, here are 14 things you should

    The Motley Fool
  • Business

    3 Great Reasons to Sell General Electric Company -- The Motley Fool

    Between divesting its massive financial services business, investing heavily to expand its digital offerings, and working to transform itself into a highly focused industrial company, General Electric (NYSE:GE) is in the process of reinventing itself for the 21st century. Along this journey, General Electric has several notable opportunities it can tap into for growth. However, tapping into new growth may not necessarily translate into a higher stock price. After all, GE is a massive company and it takes a lot to move the needle. At the same time, the company is dealing with a sluggish and volatile global growth environment that's inhibiting its ability to drive revenue growth. Finally, there's

    The Motley Fool
  • Politics

    Obamacare Price Hikes Could Cost Democrats Control of the Senate

    The odds remain fairly good that the Democrats can regain control of the Senate in November, especially if Democratic presidential nominee continues her strong showing against Republican businessman Donald Trump in the polls. Four other races -- including veteran Republican Sen. John McCain’s reelection effort in Arizona -- are deemed competitive by political experts. Despite years of Republican vows to dismantle and replace the Affordable Care Act, Obamacare has received relatively little attention in the presidential and congressional races until now.

    The Fiscal Times
  • Business

    This negative 3.5% 'buy the market' signal has been a moneymaker 81% of the time

    In the history of the stock market, some of the best buying opportunities occurred after sharp sell-offs, with some of the single best days following the single worst days. Adviser Investments’ Daniel Wiener reviewed the performance of the S&P 500 (^GSPC) — via the Vanguard 500 Index Fund (VFINX) — to see how the stock market did in the year following one-day sell-offs of 3.5% or more.

    Sam Ro
  • Sports

    RECAP: Larson hits the mark for first NSCS win

    NASCAR.com's Chuck Bush recaps the Pure Michigan 400 as Kyle Larson beats out Chase Elliott on the final restart to earn his first career NASCAR Sprint Cup Series victory.

    NASCAR.com
  • Business

    Fico vs. Experian vs. Equifax: Their Pros and Cons (FICO, EFX)

    Lenders have an array of data available to make credit decisions on borrowers. Three major credit bureaus compile information about consumers' borrowing habits and use that information to create detailed credit reports, while another organization, the Fair Isaac Corporation (NYSE: FICO), or FICO, developed a proprietary algorithm that scores borrowers numerically from 300 to 850 on their creditworthiness. Some lenders make credit decisions strictly based on a borrower's FICO score, while others examine the data contained in one or more of the borrower's credit bureau reports. When seeking a loan, it is helpful for borrowers to know their FICO score as well as what is on their credit bureau reports, such as those from Experian PLC (EXPN.L) and Equifax Inc. (NYSE: EFX).

    Investopedia
  • Business

    Billionaire George Soros' Fund Dumped These 3 Biotech Holdings. Should You? -- The Motley Fool

    George Soros is widely considered one of the greatest hedge fund managers of all time, and for good reason. During his tenure at the Quantum Fund, Soros reportedly generated average returns in excess of 30% per year, crushing the broader markets in the process.  As such, his namesake fund, Soros Fund Management, remains one of the most closely watched hedge funds in the world, despite his retirement in 2015. And the fact that the Soros Fund has over $4.6 billion under management means it can have a real impact on the market, giving investors all the more reason to keep tabs on its quarterly buys and sells.  Biotech investors in particular may want to dig deeper into the fund's quarterly transactions

    The Motley Fool
  • Lifestyle

    Austria flights resume in Vienna after day of disruption

    VIENNA (AP) -- Airline officials say technical problems that left hundreds of passengers stranded at Vienna's airport over the weekend have been resolved and flights are operating normally. Austrian Airlines spokesman

    Associated Press
  • News

    U.S. SEC paid $3.75 million to BHP Billiton whistleblower: report

    The U.S. Securities and Exchange Commission paid a BHP Billiton insider $3.75 million for detailed information in an investigation into alleged bribery of Asian and African officials, the Australian Financial Review reported on Monday. Citing legal sources, the newspaper report said it was the first time an employee of an Australian company had received a U.S. whistleblower bounty. BHP last year settled the SEC case, paying $25 million to resolve charges it violated a U.S. anti-bribery law by failing to properly monitor a program in which it paid for dozens of foreign government officials to attend the 2008 Olympics in Beijing.

    Reuters
  • Business

    As Beijing aims for blue skies over G20, China's steel mills get unexpected boost

    When Beijing ordered hundreds of industrial plants to close ahead of China's first-ever G20 summit next week, the government wanted to spruce up the host city of Hangzhou and ensure world leaders would gather under clear blue skies. In doing so, China's leaders may have given the nation's stricken steel mills an inadvertent leg-up, helping to restore profitability after a years-long downturn caused by weak prices as a global glut swelled and demand slowed. Steel prices have jumped as much as 42 percent since late May, with the unexpected turn in fortunes all the more striking as the health of the global steel industry is set to feature on the G20 agenda amid escalating tensions over Chinese exports.

    Reuters
  • Business

    China state firms account for two-thirds of debt defaults this year - media

    China's government-run enterprises account for 66.5 percent of total debt defaults so far this year, China's official Securities Daily newspaper reported on Monday, citing information from the state asset regulator. The State-Owned Asset Supervision and Administration Commission (SASAC) will strengthen the way it monitors maturing debts in the coming three months in a bid to reduce the risk of defaults, the paper said, citing an official with the commission. China could allow industrial firms to convert their debts into equity stakes as early as next month, with the government now putting the finishing touches to a new plan, the official China Securities Journal reported on Monday.

    Reuters
  • Business

    Nutanix acquires two startups amid IPO delay

    High-tech computing company Nutanix has acquired two startups to enhance its data and storage services, as the firm continues to grow its business despite a protracted delay in its initial public offering. San Jose, California-based Nutanix said on Sunday it bought PernixData, a software company that facilitates data storage, and Calm.io, a development and automation startup, both also located in California. Nutanix declined to disclose the price of the acquisition.

    Reuters
  • Business

    Oil Falls Near $47 a Barrel as U.S. Crude Rig Count Unchanged

    Oil fell near $47 a barrel as the number of U.S. rigs drilling for oil remained unchanged and Royal Dutch Shell Plc said production isn’t affected by storm preparations in the Gulf of Mexico. A tropical depression near Florida, forecast to become a storm on Monday, is expected to move into the Gulf of Mexico, according to the National Hurricane Center. West Texas Intermediate for October delivery fell as much as 59 cents to $47.05 a barrel on the New York Mercantile Exchange and traded at $47.09 a barrel at 8 a.m. Tokyo time.

    Bloomberg