Media mogul Sumner Redstone’s trust puts the decision on whether he is able to manage its assets in the hands of three doctors who could review the 92-year-old only after a vote by five of his associates and relatives.
The Justice Department is investigating what authorities suspect is half a billion dollars in health-care fraud linked to specialty creams used to treat pain and other ailments, and believe an insurance program for veterans may have been the biggest victim.
The U.S. job engine slowed in January while unemployment hit an eight-year low and wage growth accelerated, complicating the outlook for Federal Reserve officials as they assess whether the economy is strong enough for further interest-rate increases.
Shares of AbbVie and Johnson & Johnson took a hit Friday after FDA briefing documents hinted a cheaper competitor for the drug companies’ blockbuster anti-inflammatory treatments could be headed to market soon.
Foxconn Chairman Terry Gou said the Taiwanese iPhone assembler plans to seal a deal to buy troubled electronics provider Sharp by the end of the month, paving the way for one of the biggest foreign takeovers of a Japanese company.