Economy

Bristol-Myers to buy Celgene for $74 billion, creating pharmaceutical powerhouse

Tablets of Bristol-Myers Squibb blood thinner Plavix. The drug giant said Thursday it is buying Celgene Corp for about US$74 billion in a cash-and-stock deal.JB Reed/Bloomberg News Bristol-Myers Squibb Co said on Thursday it would buy Celgene Corp for about US$74 billion, creating a pharma company with several blockbuster cancer drugs and making it one […]

Economy

Warren Buffett once said he didn’t invest in tech stocks because he didn’t understand them — he might have been right

Apple dropped to as low as US$144.51 in extended trading, trimming the value of Warren Buffett’s stake by about US$3 billion.AP Photo/Nati Harnik, File Warren Buffett has a questionable track record investing in technology companies. It’s only getting worse with Apple Inc., which had already lost more than US$350 billion in market value since October, […]

Economy

Bausch Health, formerly Valeant, predicts revenue growth as debt load lessens

Bausch Health's "significant seven" major products include eye care products that treat conditions ranging from glaucoma to bloodshot eyes.Mike Mergen/Bloomberg News The CEO of Bausch Health Companies Inc. is predicting revenue growth this year as the drugmaker emerges from a mountain of debt and lawsuits. Joseph Papa said Monday he expects Bausch — formerly known […]

Economy

Relax Amazon investors, Jeff and MacKenzie Bezos’ divorce shouldn’t shift the share price

Amazon founder Jeff Bezos, rated the world's wealthiest person, announced on Wednesday on Twitter that he and his wife Mackenzie Bezos were divorcing after a long separation.Jorg Carstensen/AFP Amazon.com Inc founder and Chief Executive Jeff Bezos, the world’s richest man, and wife MacKenzie Bezos are divorcing after 25 years of marriage, the couple said on […]