Injection pens for the weight-loss drug Wegovy from Novo Nordisk are shown in this illustration in Oslo, Norway, November 21, 2023.Victoria Kelsty | ReutersThe Food and Drug Administration approved it on Friday Novo NordiskPopular weight loss drug Wegovy for use in reducing the risk of serious cardiovascular complications in adults with obesity and heart disease.Millions of patients are already using the popular injectable treatment. But the agency's decision could expand insurance coverage for the expensive drug and similar treatments for obesity, which have been a major barrier to access for patients.The approval also shows that weight-loss drugs have significant health…
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Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Luxury gym chain Equinox raised $1.8 billion from a group of private capital investors to refinance $1.2 billion in maturing debt on Friday, giving it financial breathing room after the pandemic battered its business.The group is led by Sixth Street, one of the world's largest private lenders, and established US private equity investor Silver Lake. Equinox said in a press release on Friday that they will infuse $1.8 billion in debt to refinance outstanding loans and fund working capital and new club…
Satellite manufacturer Terran orbital CEO Mark Bell told CNBC he is “looking at everything” regarding the company's future Lockheed Martin'Takeover offer.“We found out [Lockheed’s takeover bid] “When the rest of the world finds out,” Bell said on CNBC's “Manifest Space.”Lockheed's bid filed last week values Terran Orbital at about $600 million, or about a third of its stock valuation since the company went public via a special purpose acquisition company, or SPAC, two years ago. The defense giant is already a major shareholder in Terran Orbital, with a 28.3% stake at the time of the bid.Terran Orbital declined to comment…
The compliance deadline for the six tech giants regulated under the EU's Digital Markets Act (DMA) expired yesterday. Which means Alphabet/Google, Amazon, Apple, ByteDance/TikTok, Meta and Microsoft are now under active evaluation by EU law enforcement. The bloc will monitor whether they comply with DMA requirements to deal fairly with business users of their regulated platform services and meet other legal requirements in areas such as data portability, platform interoperability and user choice. Failure to do so risks significant fines – up to 10% or even 20% of its global annual turnover. The first batch of gatekeeper compliance reports —…
All-electric Chevrolet Blazer.Scott Milin | CNBCDetroit — “ General Motors Chevrolet Blazer EV has reduced the price of its new Chevrolet Blazer EV by thousands of dollars as it resumes sales of the vehicle on Friday after an 11-week hiatus to address software issues.Current 2024 Blazer EV models will start at $50,195, or $6,520 less than when they first went on sale in August. This excludes a $7,500 federal tax incentive for which the vehicle now fully qualifies.GM halted sales of the electric vehicle in late December after reports from customers and media of problems with the car's infotainment and…
price Bitcoin It jumped to a new record on Friday, surpassing $70,000 for the first time ever.The cryptocurrency gave up gains from the rally and was last down more than 1% at $66,943.70, according to Coin Metrics. However, at one point it rose to $70,170.00, surpassing the previous record set on Tuesday.The upward movement began at the time the US stock market opened. With the introduction of spot bitcoin exchange-traded funds in the US, big cryptocurrency moves now tend to happen during traditional stock trading hours.Stock chart icon Stock chart iconBitcoin reaches $70,000This early advance may have been driven in…
Novo Nordisk The company's experimental weight-loss pill, Amicretin, could eventually become a best-in-class treatment for obesity, CEO Lars Frørgaard Jørgensen said on Friday. The Danish pharmaceutical company is racing to capitalize on the huge success of blockbuster weight-loss drug Wegovy by developing a new generation of obesity treatments, including a more convenient and potentially cheaper pill. His comments came a day after Novo Nordisk impressed investors with preliminary trial data for amicritin. Patients who took the pill lost about 13.1% of their weight after 12 weeks, Jorgensen said on CNBC's “Money Movers.” This exceeds the 6% weight loss seen in…
A sign hangs outside a restaurant looking to hire workers in Miami on May 5, 2023.Joe Rydell | Getty Images News | Getty ImagesData released by the US government on Friday showed that the unemployment rate among black women fell in February as the number of job seekers increased.The U.S. unemployment rate rose last month to 3.9% from 3.7% in January, according to the U.S. Bureau of Labor Statistics on Friday. Women ages 20 and older in the labor force followed the trend, with the unemployment rate rising to 3.5% from 3.2%.However, the percentage of unemployed black women fell to…
Eli Lilly headquarters in Indianapolis, Indiana, U.S., on Wednesday, May 3, 2023. Eli Lilly & Co. shares rose. In early US trading after its experimental Alzheimer's drug slowed the progression of the disease in a final-stage trial. This paves the way for the company to apply for US approval.AJ Mast | Bloomberg | Getty ImagesEli Lilly The Food and Drug Administration has postponed the deadline for a decision to approve experimental Alzheimer's treatment donanemab in a surprise move, the US drugmaker said on Friday.Eli Lilly said the agency plans to call a last-minute meeting of its outside advisers to further…
It is based61 | It is based61 | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide for the high-net-worth investor and consumer. Sign up to receive future issues, straight to your inbox.The number of family offices in the world has tripled since 2019, launching a new race among private equity firms, hedge funds and venture capital firms to attract their investments.According to a new report from Preqin, the number of family offices — the private investment arms of wealthy families — exceeded 4,500 worldwide last year. North America has…