More than expected decline has been witnessed in the number of Americans filing for unemployment benefits. As per the Labor Department, the US jobless claims are nearing a 42-year low as labor market conditions are improving resulting into strengthening of the economy.
According to the figures released by the US Census Bureau and the Department of Housing and Urban Development, the sales of new single-family houses in November have increased by 4.3% to a seasonally adjusted annual rate of 490,000 as compared to October. The increase is being attributed to reduced sales of homes in October, thereby indicating Americans are not interested in purchasing new homes during year end.
Low prices have taken confidence level to five-month high. On Wednesday, the University of Michigan has announced that its final sentiment index for December stands at 92.6, which is the highest since July, from 91.3 in November.
As per the researchers, cheap gasoline prices and a labor market have added millions of Americans to payroll and further strengthened sentiment this year. Also, demand has picked up, which may let the Federal Reserve to consider that the economy would be able to handle higher interest rates.
Hardware company NetApp will buy SolidFire, a startup known for selling fast all-flash storage hardware, for $870 million in cash. The deal is considered to be an important one in the storage market especially when EMC has taken up flash by acquiring XtremIO and DSSD.
Not only EMC, Cisco has also purchased all-flash storage maker Whiptail in 2013. Though NetApp announced about its first all-flash storage hardware product two years back only, the company is not especially known for flash storage.
If you haven’t completed your shopping yet for your holiday season, then you are the lucky one as retailer are luring shoppers with their high discount. High discounts usually attract customers and this will help retailers to clear out the stock left in shelves.
With an aim to expand its delivery operations to avoid the bottlenecks caused by overwhelmed carriers like United Parcel Service (UPS), Amazon is looking to lease 20 Boeing 767 jets for its own air-delivery service next month. In order to overcome the delays that have been caused by UPS and to keep up the rapid growth of e-commerce, the online retail giant wants to build out its own cargo operations by the end of January.
Martin Shkreli, who was in limelight for price gouging vital drugs was arrested on early morning of Thursday, was released the same day on a $5 million bond. Shkreli, 32, was arrested as he was accused of repeatedly losing money for investors and lying to them about the same.
British pharmaceutical company AstraZeneca announced on Thursday that it has agreed to acquire 55% stake in the biotech firm Acerta Pharma for $4 billion. The drugmaker said that it may also adopt some measures to buy the remaining 45% stake for up to $3 billion.
As per the deal, AstraZeneca will pay $2.5 billion right now and the left amount will be paid either on receipt of the first regulatory approval for the medicine acalabrutinib or at the end of 2018, depending on what will come first.
In an announcement today, Sanofi and Boehringer Ingelheim said that they have got into exclusive negotiations to exchange businesses. The anticipated transaction is going to contain a swap of Sanofi animal health business (‘Merial’) with an enterprise worth €11.4 bn and Boehringer Ingelheim consumer healthcare (CHC) business with an enterprise worth €6.7 bn.
The transaction won’t include Boehringer Ingelheim CHC business in China. As the part of the transaction, Boehringer Ingelheim would also make a gross cash payment of €4.7 bn to Sanofi.
A timely decision has been taken by the Federal Aviation Administration, which announced on Monday that drones will have to be registered with an aim to identify owners and educate amateur aviators. The decision is considered to be correct as the FAA has been receiving more than 100 reports on monthly basis about drones flying near jets and airports.
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