Business

Pharmaceutical company AstraZeneca says it is buying U.S. drug developer Alexion in a deal worth $39 billion.

California is seeking to join the Justice Department in its antitrust lawsuit against Google parent Alphabet Inc., one of the state's largest businesses.

Shares of Peter Thielbacked AbCellera Biologics Inc, which is codeveloping antibody therapies with Eli Lilly and Co for the treatment of COVID19, surged in their debut on Friday, giving the company a market capitalization of $16.18 billion.

A 14 billion pound ($18.5 billion) class action against Mastercard for allegedly overcharging more than 46 million people in Britain over a 15year period was on Friday given the green light by the UK Supreme Court.

World shares slipped on Friday as tricky Brexit negotiations and uncertainty over U.S. stimulus talks capped riskier bets even though COVID19 vaccines made progress, pushing sterling down and keeping the dollar weak.

British engineering company RollsRoyce downgraded this year's cash outflow forecast and warned of a challenging outlook as the slump in air travel continues.

Major averages closed on Thursday with a rebound from early lows as investors looked for signs of progress in fiscal stimulus talks to support the economy after labor market data showed a jump in jobless claims.

The European Union set out shortterm measures on Friday to limit disruption to air traffic, road and rail transport, as well as fisheries, if Britain leaves the bloc without a trade accord by Dec. 31.

Heath Tarbert will resign as chair of the U.S. derivatives market regulator early next year when Democratic Presidentelect Joe Biden designates an acting agency head, ensuring a "smooth transition," he told Reuters in an exclusive interview.

Britain's economic recovery almost ground to a halt in October as a surge in coronavirus cases hammered the hospitality sector, adding to the chances that the economy will shrink over the final three months of 2020.

Oil rose above $49 a barrel on Thursday as hopes of a faster demand recovery after the release of COVID19 vaccines offset a huge rise in U.S. crude inventories that showed supply remains ample.

During the road show for SCI divestment government received good responses from foreign investors as well as domestic players.

Delta Air Lines has managed to avoid furloughs but is now asking more employees to take unpaid leaves of absence, a sign of the deepening slump in air travel as coronavirus cases increase across the United States.

Stocks that moved heavily or traded substantially Wednesday:

Uber Technologies Inc said on Wednesday its package delivery service, Uber Connect, will now be available in more than 2,400 new cities and towns in the United States.

The S&P 500 and the Dow scaled record highs on Wednesday as hopes of a working COVID19 vaccine and fresh economic stimulus before the end of the year lifted demand for economically sensitive energy and financial shares.