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

Chinese jet came within 10 feet of U.S. military aircraft -U.S. military

Chinese jet came within 10 feet of U.S. military aircraft -U.S. military

WASHINGTON, Dec 29 (Reuters) – A Chinese military plane came within 10 feet (3 metres) of a U.S. air force aircraft in the contested South China Sea last week and forced it to take evasive maneuvers to avoid a collision in international airspace, the U.S. military said on Thursday. The close encounter followed what 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

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

Omicron subvariant XBB jumps to 18% of U.S. COVID cases, CDC says

Omicron subvariant XBB jumps to 18% of U.S. COVID cases, CDC says

Dec 23 (Reuters) – The highly-contagious Omicron subvariant XBB has surged to more than 50% of COVID-19 cases in the northeastern United States and risks spreading fast as millions of Americans begin holiday travel on Friday. In the week ended Dec. 24, XBB was estimated to account for 18.3% of the COVID-19 cases in the … Read more

Special Report: Binance’s books are a black box, filings show, as it tries to rally confidence

Special Report: Binance’s books are a black box, filings show, as it tries to rally confidence

LONDON, Dec 19 (Reuters) – The world’s biggest crypto exchange, Binance, is battling to shore up confidence after a surge in customer withdrawals and a steep drop in the value of its digital token. The exchange said it dealt with net outflows of around $6 billion over 72 hours last week “without breaking stride” because … Read more

Medical device makers drop products as EU law sows chaos

Medical device makers drop products as EU law sows chaos

LONDON, Dec 19 (Reuters) – Nicola Osypka’s German company has been selling medical devices used in surgery on newborn babies in Europe for decades, but new European Union rules have forced her to make tough decisions. Under the regulations designed to prevent another health scandal, such as the one in 2010 involving ruptured breast implants … Read more

Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition

Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition

Dec 17 (Reuters) – Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday. The 30-year-old cryptocurrency mogul was indicted in federal court … Read more

Chinese firms avert delisting as U.S. audit watchdog gets full inspection access

Chinese firms avert delisting as U.S. audit watchdog gets full inspection access

NEW YORK/HONG KONG/WASHINGTON, Dec 15 (Reuters) – The U.S. accounting watchdog on Thursday said it has full access to inspect and investigate firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off U.S. stock exchanges. The statement from the Public Company Accounting Oversight Board (PCAOB) … Read more

FTX founder Sam Bankman-Fried charged with fraud, denied bail

FTX founder Sam Bankman-Fried charged with fraud, denied bail

NASSAU, Bahamas/NEW YORK, Dec 13 (Reuters) – U.S. prosecutors on Tuesday accused Sam Bankman-Fried, the founder of crypto currency exchange FTX, of fraud and violating campaign finance laws and a judge in the Bahamas denied him bail, sending him to a local correctional facility instead. The former FTX CEO, who was arrested in the Bahamas … Read more