On Monday, Gilead Sciences announced that it would charge more than $2,340 for the use of its remdesivir per patient. Dr Dara Kass, Associate Professor of Emergency Medicine at Columbia University Medical Center, joins The First Trade to break down Gilead Sciences’ announcement, developments in the vaccine race, and reopenings in the U.S. ...
(Bloomberg) -- Facebook Inc. shares were poised to fall for a second day after more businesses, including Starbucks Corp. and Diageo Plc, joined the growing number of brands planning to halt spending on social media, undermining the company’s growth outlook.Shares declined about 3.1% in early trading before markets in New York opened on Monday. The stock had tumbled 8.3% Friday after Unilever, one of the world’s largest advertisers, said it would cease spending on Facebook properties this year, eliminating $56 billion in market value and shaving the net worth of Chief Executive Officer Mark Zuckerberg by more than $7 billion. Shares closed at $216.08 Friday after reaching a record $242.24 the preceding Tuesday.Starbucks and Diageo followed Unilever, Coca-Cola Co. and several other companies in saying they will cut ad spending, part of an exodus aimed at pushing Facebook and other social media platforms to limit hate speech and posts that divide...
(Bloomberg) -- Wirecard AG’s collapse has laid bare significant cracks in Germany’s financial oversight, increasing pressure on Chancellor Angela Merkel’s government after one of the country’s biggest corporate failures.Even with ample warning, German authorities failed to catch accounting issues at the digital-payments company. Slow decision-making, insufficient oversight and fragmented responsibilities created cracks that allowed Wirecard’s problems to go undetected by officials.Germany is one of relatively few countries to split accounting enforcement between a private-sector watchdog and its markets regulator, while the investigation of money laundering at non-financial companies is handled by regional authorities. With the fallout risking the country’s reputation as a place to do business, the government is now pushing for reform.The financial regulator, known as BaFin, has come under fire for being slow to respond to allegations and temporarily banning short selling of Wirecard stock last year, an unprecedented step that appeared to back Wirecard. But the inefficient delegation...
