Congressional report: U.S. FDA broke own protocols in approving Biogen Alzheimer’s drug

Congressional report: U.S. FDA broke own protocols in approving Biogen Alzheimer’s drug

WASHINGTON, Dec 29 (Reuters) – The U.S. Food and Drug Administration failed to adhere to its own guidance and internal practices during the approval process for Biogen’s (BIIB.O) Alzheimer’s drug Aduhelm, which was “rife with irregularities,” a congressional report showed on Thursday. The FDA’s interactions with Biogen were “atypical” and did not follow the agency’s … Read more

TSMC starts volume production of most advanced chips in Taiwan

TSMC starts volume production of most advanced chips in Taiwan

TAINAN, Taiwan, Dec 29 (Reuters) – Chipmaker Taiwan Semiconductor Manufacturing Company Ltd (TSMC)(2330.TW), began mass production of its most advanced chips in southern Taiwan on Thursday and the company’s chairman said it would continue to expand capacity on the island. The long-awaited mass production of chips with 3-nanometre technology comes as attention focuses on the … Read more

Exxon sues EU in move to block new windfall tax on oil companies

Exxon sues EU in move to block new windfall tax on oil companies

Dec 29 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have … Read more

Hong Kong asks Japan to drop airport curb set to hit 60,000 travellers

Hong Kong asks Japan to drop airport curb set to hit 60,000 travellers

HONG KONG, Dec 29 (Reuters) – Hong Kong’s government has asked Japan to withdraw a COVID-19 restriction that requires passenger flights from the financial hub to land at only four designated Japanese airports, saying the decision will impact about 60,000 passengers. The United States, India, Italy and Taiwan now require mandatory COVID-19 tests on travellers … Read more

Twitter back online after global outage hits thousands

Twitter back online after global outage hits thousands

Dec 28 (Reuters) – Twitter Inc suffered a major outage on Wednesday, leaving tens of thousands of users globally unable to access the popular social media platform or use its key features for several hours before services appeared to come back online. The incident is the social media site’s first apparent widespread service disruption since … Read more

Southwest flight upheaval a ‘system failure,’ U.S. says

Southwest flight upheaval a ‘system failure,’ U.S. says

WASHINGTON, Dec 28 (Reuters) – U.S. Transportation Secretary Pete Buttigieg on Wednesday ratcheted up pressure on Southwest Airlines (LUV.N), saying thousands more canceled flights indicated a system failure at the low-cost carrier. “We are past the point where they could say this is a weather-driven issue,” Buttigieg said in an interview posted by ABC News … Read more

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government scrutiny Indexes down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and … Read more

Hong Kong scraps most COVID rules, though masks still mandated

Hong Kong scraps most COVID rules, though masks still mandated

HONG KONG, Dec 28 (Reuters) – Hong Kong will cancel its stringent COVID-19 rules from Thursday, city leader John Lee said, meaning that arrivals will no longer need to do mandatory PCR tests while the city’s vaccine pass would also be scrapped. All measures would be cancelled on Thursday, apart from the wearing of masks … Read more

Ship insurers to cancel war cover for Russia, Ukraine from Jan 1

Ship insurers to cancel war cover for Russia, Ukraine from Jan 1

LONDON, Dec 28 (Reuters) – Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to … Read more

Chinese hospitals, funeral homes ‘extremely busy’ as COVID spreads unchecked

Chinese hospitals, funeral homes ‘extremely busy’ as COVID spreads unchecked

Hospitals, funeral parlours report surge in COVID infections China reports three new COVID deaths for Tuesday Some countries consider travel rules for Chinese visitors CHENGDU, Dec 28 (Reuters) – Chinese hospitals and funeral homes were under intense pressure on Wednesday as a surging COVID-19 wave drained resources, while the scale of the outbreak and doubts … Read more