Some people who took a new schizophrenia drug for a year improved with only a few side effects, but many dropped out of the research, the company announced Thursday. The results underscore the difficulties in treating schizophrenia, a severe mental illness that can cause people to hear voices, feel paranoid and withdraw from others. High … Read more
Getty Images The cost of UK government borrowing has risen to its highest level for more than a year in the wake of Wednesday’s Budget. The interest rate – the so-called yield – the government has to pay lenders when it borrows money from them over a 10-year period, climbed above 4.5% on Thursday before … Read more
Baxter, a medical equipment supplier that produces 60% of the intravenous solutions at US hospitals, said Thursday it has slowly begun to recover from a hurricane-induced shutdown last month that has sparked shortages at medical facilities nationwide. US hospitals in recent weeks have been forced to delay surgeries and even give patients Gatorade or water … Read more
Getty Images Chancellor Rachel Reeves always knew she was going to spend many days explaining her Budget. The reaction of those paying the bills for this near-record increase in taxes was always going to be harsh. For the chancellor, her political pain for now is a price worth paying. The Budget is about the long … Read more
Chili’s Bar & Grill said it has bounced back from business struggles earlier this year by introducing new, lower-priced menu items that compete directly with fast-food restaurants. The 49-year-old, Dallas-based restaurant chain — known for its baby back ribs and sizzling fajita platters — on Wednesday reported a whopping 14% increase in same-store revenues and … Read more
Philadelphia Eagles owner Jeffrey Lurie is negotiating to sell a minority stake in the team to a family that owns a technology firm, according to a report. Susan Y. Kim, the executive chair of Arizona-based Amkor Technology, is in talks with Lurie on buying a piece of the team in a deal that would value … Read more
Uber Technologies pointed to a further slowdown in its mainstay app-based taxi business as it forecast fourth-quarter gross bookings below Wall Street estimates, sending its shares down 11% by Thursday afternoon. Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and also … Read more
NBC-parent Comcast is exploring spinning of its struggling cable networks business, including left-leaning MSNBC, President Mike Cavanagh said Thursday. Cavanagh revealed during the third-quarters earnings call that the media giant is mulling the creation of a “new, well-capitalized company owned by our shareholders and comprised of our our strong portfolio of cable networks.” The cable … Read more
Peloton on Friday named a former Apple executive as its new boss in hopes of reviving the struggling company — and the move immediately paid big dividends with the stock racing nearly 30%. Peter Stern, who co-founded Apple Fitness+ before moving on to his current role as president of Ford’s digital services business, faces the … Read more
The U.S. Environmental Protection Agency has awarded the Port of Los Angeles more than $400 million to support its transition to electric cargo-moving equipment — a major boost to efforts aimed at curbing pollution at America’s busiest container port. The so-called Clean Ports grant, announced Tuesday, is part of a larger $3-billion initiative to deploy … Read more