Author: FX

Design Cells/iStock via Getty Images The market for oncology drugs is set to surge between now and the end of the decade, according to two new reports. IQVIA estimates that spending on oncology treatments in the US alone will rise to $125B by 2027 based on current treatments and the number of therapies in pipelines. The firm added it sees spending on oncology drugs in the US increasing 54% over the next five years. According to the GlobalData Drugs Database, there are currently 125 oncology drugs in pre-registration. The database also notes that approvals for new oncology drugs have almost…

CharlieAJA/iStock via Getty Images Catalent (NYSE:CTLT) postponed its Q3 earnings release and conference call for a third time and is now scheduled to release its results on Friday. The contract research organization delayed the results to Friday May 19 from Monday as the company works to finalize its financial statements, according to a statement late Friday. Catalent (CTLT), which hit a 52-week low on Friday, has lost more than half of its value this quarter as Wall Street reacted to its issues ranging from the exit of the finance chief, financial warnings, and delays of its quarterly earnings report. The…

© Reuters. Smoke rises from a wildfire in Strathcona County, Alberta, Canada May 5, 2023 in this screen grab obtained from a social media video. Twitter @hellohildy/via REUTERS By Ismail Shakil and Anna Mehler Paperny OTTAWA (Reuters) -Canada’s main oil-producing province of Alberta faces another hot and dry weekend, with warnings of more intense wildfires after blazes forced thousands to evacuate homes and temporarily shuttered energy production. Authorities in at least one fire-ravaged area said Saturday they had already seen an increase in fire activity and were expecting more. Residents forced to evacuate early this month say they are frustrated…

© Reuters. FILE PHOTO: Ukraine’s President Volodymyr Zelenskiy attends a joint press conference with European Commission President Ursula von der Leyen (not pictured), amid Russia’s attack on Ukraine, in Kyiv, Ukraine May 9, 2023. REUTERS/Valentyn Ogirenko By Philip Pullella ROME (Reuters) -Ukrainian President Volodymyr Zelenskiy began a visit to Rome on Saturday for talks with government officials and Pope Francis, who in late April said that the Vatican is involved in a peace mission to end the war with Russia. Zelenskiy, on his first trip to Italy since Russia invaded in February last year, held talks with President Sergio Mattarella…

Warning: ORCC is at high risk of cutting its dividend Source link

SandRidge Energy declares special dividend of $2.00, plans quarterly payout of $0.10, $75M buyback Source link

© Reuters. FILE PHOTO: US Treasury Secretary Janet Yellen (R) speaks during a meeting with Japan’s Finance Minister Shunichi Suzuki at the G7 Finance Ministers and Central Bank Governors’ Meeting in Niigata on May 13, 2023. KAZUHIRO NOGI/Pool via REUTERS By Andrea Shalal NIIGATA, Japan (Reuters) – Treasury Secretary Janet Yellen on Saturday called the showdown over raising the U.S. debt ceiling “more difficult” than in the past but said she remained hopeful a solution could be found to avert a first ever U.S. default Yellen told Reuters in an interview on the sidelines of a meeting of Group of…

Mario Tama/Getty Images News General Motors (NYSE:GM) said Friday it is recalling nearly 1M sport utility vehicles in the U.S., responding to a push by federal regulators to recall 67M defective air bag inflators due to a potential safety defect. The recall covers 994,763 Buick Enclave, Chevrolet Traverse and GMC Acadia vehicles in the 2014-17 model years with modules produced by ARC Automotive, which the National Highway Traffic Safety Administration said could explode and spray shrapnel around a vehicle. But ARC has rejected the regulator’s request so far, denying its products are defective and saying that any problems with air…

© Reuters. Italy’s Economy Minister Giancarlo Giorgetti, Germany’s Finance Minister Christian Lindner, Joachim Nagel, President of Germany’s federal reserve Bundesbank, U.S. Treasury Secretary Janet Yellen, Japan’s Finance Minister Shunichi Suzuki, Bank of Japan Gov By Trevor Hunnicutt WASHINGTON (Reuters) – Leaders of the Group of Seven (G7) countries are set to issue a statement of concern about China’s use of economic leverage abroad when they gather next week, according to a U.S. official familiar with the discussions. That statement, a likely component of the overall communique that will be released by leaders during the May 19 to 21 summit in…

The USD is the ending the day as the strongest of the major currencies, while the NZD is the weakest. The strongest of the weakest of the major currenciesThe move higher in the greenback can be attributed to:Higher inflation expectations from the University of Michigan Consumer surveyConcerns about the debt ceiling leading to a flight to safety flow into the greenbackTechnical breaks in some of the major currency pairs.In May 2023, the University of Michigan Index of Consumer Sentiment dropped by 9.1% MoM to 57.7 (from 63.5 last month), representing a 1.2% YoY decrease from May 2022. The Current Economic…