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China biotech’s ‘coming out party’ masks long road ahead

LONDON/SHANGHAI (Reuters) – Investors are betting on China’s potential to feed the global pharmaceutical pipeline, putting a multi-billion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West. Shares in firms such as Chi-Med, Beigene and Zai Lab have soared on international markets this year, fueled by hopes for their drugs and recent reforms to China’s regulatory system that should speed up approvals. “It’s almost a coming out party for China biotech,” said Christian Hogg, chief executive of HutchisonRead More

Thailand cuts 2017 tourist arrivals forecast to 33-34 million: minister

BANGKOK (Reuters) – Thailand’s tourism minister on Thursday said the country expects 33 to 34 million visitors this year, down from an earlier forecast of 35 million. “Right now Thailand has welcomed 27 million already this year so I think for the whole year we should get 33 to 34 [million],” tourism minister Kobkarn Wattanavrangkul told reporters. She did not give a reason for the projecting a lower number. The smaller number would still be a record for Thailand, which welcomed 32.6 million foreign visitors in 2016, with the largestRead More

FBI searches Las Vegas gunman’s house again

Federal investigators returned to search the home of Las Vegas gunman Stephen Paddock on Sunday, while the officers who raided his hotel room door the night of the shooting gave a harrowing account of a barricaded door they had to bust through and the booby-traps they feared they’d find. The search of Paddock’s three-bedroom house on a cul-de-sac in a retirement community in Mesquite, Nevada, was for “re-documenting and rechecking,” said local police Chief Troy Tanner, who accompanied FBI agents as they served the search warrant. “I don’t think theyRead More

Internet giants, once above the fray, on the defensive in Washington

WASHINGTON (Reuters) – Internet giants, including Alphabet’s Google (GOOGL.O) and Facebook (FB.O), are moving to compromise on several major policy issues as they adjust to an abrupt shift in the political winds in Washington. Just last week, the U.S. Senate took a big step toward advancing legislation that would partially strip away the internet industry’s bedrock legal protection, a 1996 law that shields companies from liability for the activities of their users. At the same time, Democratic senators are writing legislation that would create new disclosure rules for online politicalRead More

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Global stocks flat as investors await Fed meeting results

Global stock markets were little changed Wednesday as investors took to the sidelines ahead of the U.S. Federal Reserve’s announcement of the results of its meeting. KEEPING SCORE: European stocks opened steady. Britain’s FTSE 100 dipped 0.1 percent to 7,272.04 in early trading and Germany’s DAX added 0.1 percent to 12,567.79. France’s CAC gained 0.1 percent to 5,244.17. Wall Street futures augured a lukewarm start. Both S&P and Dow futures remained flat. FED WATCH: At the end of its two-day meeting on Wednesday, the Federal Reserve is widely expected toRead More

Charities, nonprofits pull events from Mar-a-Lago amid Charlottesville controversy

A number of high-profile charitable organizations have canceled planned fundraising events and galas at President Trump‘s Mar-a-Lago club in Palm Beach, Florida, amid growing backlash to the president’s response to the deadly violence that broke out in Charlottesville. In total, 19 organizations have confirmed to ABC News their plans to cancel or move events scheduled at Mar-a-Lago this coming year. A 20th organization — the Achilles Freedom Team — said Sunday night that it is looking into changing the “status” of its upcoming November event which is scheduled to beRead More