A pharmacist holds a vial of lenacapavir, the new HIV prevention injectable drug.Nardus Engelbrecht | APGilead’s twice-yearly shot reduced HIV infections by 96% in a second large study, the company said Thursday.The positive phase three trial data on lenacapavir sets the stage for likely approval by the U.S. Food and Drug Administration for HIV prevention.”Now that we have a comprehensive dataset across multiple study populations, Gilead will work urgently with regulatory, government, public health and community partners to ensure that, if approved, we can deliver twice-yearly lenacapavir for PrEP worldwide, for all those who want or need PrEP,” said Gilead…
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Ted Cannis, chief executive officer of Ford Pro, speaks during an interview in New York, on Thursday, July 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesDETROIT — The head of Ford Motor’s highly profitable “Pro” commercial and fleet business will retire at the end of this month, the company said Thursday.The automaker said Ford Pro CEO Ted Cannis, who has spent 35 years with the company, will be replaced on an interim basis by Andrew Frick, president of Ford’s traditional “Blue” operations, until the company announces a new leader.”Ted’s energy and passion for customers has been instrumental in building…
Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates.The producer price index, a measure of final demand goods and services costs that producers receive, increased 0.2% on the month, the Bureau of Labor Statistics said Thursday. That matched the Dow Jones consensus estimate.Excluding food and energy, PPI increased 0.3%, slightly hotter than the 0.2% consensus estimate. The core increase was the same when excluding trade services.On a 12-month basis, headline PPI rose 1.7%. Excluding food, energy and trade, the annual rate was 3.3%.In other…
Republican vice presidential nominee Ohio Sen. JD Vance on Thursday took a shot at Apple on CNBC’s “Squawk Box,” stating he thinks the company benefits from “slave labor” in China. His comment was part of a broader conversation about taxing companies that rely on manufacturing in China.”Do I think Apple is an evil company? No. Do I think that sometimes they benefit from Chinese slave labor? yeah, and that’s pretty sick,” Vance said. “I think that a company that wants to benefit from American markets should also have to pay American workers a fair wage.” Apple raised the starting wage for retail…
At the end of the 2023 WNBA season, after the Las Vegas Aces had captured their second consecutive title and A’ja Wilson earned Finals MVP, Wilson had a message.“Whoever you are out there that voted me fourth (for MVP), thank you. Thank you so much,” Wilson said during the team’s championship rally. “I wanna say I appreciate you, ’cause that just means that I got a lot more work to do.”Although the 2024 Aces have disappointed relative to expectation, Wilson has not. Just as she vowed last October, Wilson returned an improved player in her seventh WNBA season.Already a two-time…
Ajit Jain at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021.Gerard Miller | CNBCAjit Jain, Warren’s Buffett’s insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway, a new regulatory filing showed.The 73-year-old vice chairman of insurance operations dumped 200 shares of Berkshire Class A shares on Monday at an average price of $695,418 per share for roughly $139 million. That left him holding just 61 shares, while family trusts established by himself and his spouse for the benefit of his descendants hold 55 shares and his non-profit corporation Jain Foundation owns 50…
Wednesday’s moves were enough to give any investor whiplash. The Dow Jones Industrial Average traded 743.89 points lower at one point during the session. The S & P 500 and Nasdaq Composite shed as much as 1.6% and 1.4%, respectively. Those declines came after new consumer inflation data poured cold water on any lingering hopes that the Federal Reserve might slash interest rates as much as half a percentage point at next week’s policy meeting. The sell-off didn’t last, however. The Dow ended the day 166.72 points higher. The S & P 500 and Nasdaq, meanwhile, posted gains of 1.2%…
Navient reaches $120 million settlement with CFPB Source link
Sopa Images | Lightrocket | Getty ImagesNavient has reached a $120 million settlement with the Consumer Financial Protection Bureau over its practices with student loan borrowers, the company tells CNBC.The CFPB sued Navient in 2017 for misleading borrowers and providing them with bad information, causing many to pay more than they needed to.As part of the settlement, $100 million will be used to make payments to impacted customers, as determined by the CFPB, Navient said.The remaining $20 million will go to the CFPB’s civil penalty fund.Navient stopped servicing the government’s federal student loans in 2021. The lender has also agreed not to re-enter servicing…
Soon, people with AirPods in their ears might not be drowning you out — they might be wearing them to hear you better.Apple announced on Monday that its AirPods Pro 2 headphones will become an FDA-cleared hearing aid in the coming weeks through a software update. That means that adults with mild or moderate hearing loss — about 30 million Americans, according to the Food and Drug Administration — will be able to use Apple earphones to amplify specific sounds they want to hear better.”After you take a hearing test, your AirPods Pro are transformed into a personalized hearing aid,…
