Sunday, August 09
President Donald Trump gives. And he takes away.Offended by Canadian Prime Minister Mark Carney's increasingly assertive posture toward the US, Trump revoked an invitation to join his Board of Peace. Many Western allies are suspicious of the organisation, which is chaired by Trump and was initially formed to focus on maintaining the ceasefire in Israel's war with Hamas but has grown into something sceptics fear could rival the United Nations.Appearing at the World Economic Forum, Trump spoke of imposing tariffs on Switzerland - which he ultimately lowered - because the country's leader "rubbed me the wrong way" during a phone call. Before shelving sweeping tariffs on multiple European countries, Trump pressed Denmark to "say yes" to the US push to control Greenland "and we will be very app
Danish pharmaceutical giant Novo Nordisk was hit with a class action lawsuit in New York federal court on Friday for allegedly misusing its patents to maintain a monopoly on its diabetes drug Victoza.The complaint from South Carolina-based drug wholesaler Smith Drug accused Novo of using a "pay-for-delay" scheme with generic drugmaker Teva Pharmaceutical to illegally delay cheaper generic versions of the drug.A Novo spokesperson declined to comment on the complaint. A spokesperson and attorneys for Smith Drug did not immediately respond to a request for comment. Spokespeople for Teva, which is not a defendant in the lawsuit, also did not immediately respond to a request for comment.Victoza, approved by the U.S. Food and Drug Administration in 2010, was Novo's first-
Mumbai: The rupee nearly touched the 92/$1 mark Friday amid sustained selling in Indian equities, dollar demand due to hedging by importers, and positions maturing in the offshore non deliverable forwards (NDF) market, with reports of possible US regulatory summons to billionaire Gautam Adani blamed for the unit's largely back-loaded retreat. The rupee weakened to a record low of 91.97/$1 during the day, and later closed slightly higher, but still at a record low of 91.94/$1, down 31 paise from its previous close of 91.63/$1. The Reserve Bank of India's (RBI) intervention was mild, traders said, and its impact wasn't enough to change the trajectory of the currency, traders said. The currency weakened in the second half of the session after reports came in that the US market regulator has a
