By Amina Niasse
NEW YORK (Reuters) -President Donald Trump on Monday delivered a blow to the private-sector middlemen who negotiate U.S. drug prices in his executive order on drug pricing, saying he would cut them out as part of a goal to bring the U.S. in line with other countries.
The news drove their shares down even as pharmaceutical stocks rose in investor relief about the broad order.
"We're going to cut out the middlemen... (continue reading...)
(Reuters) -Amazon has hired FedEx to handle some of its large package deliveries, the companies said on Monday, weeks after UPS said it was halting its less-profitable deliveries for the e-commerce retailer and cutting 20,000 jobs.
FedEx shares surged on Monday even more than rallying Wall Street benchmarks, finishing up 7%. The Memphis-based delivery company said the multi-year agreement covers residential delivery of select large packages for Amazon.
... (continue reading...)Investing.com – The dollar surged on Monday, underpinned by a jump in Treasury yields amid optimism that the U.S.-China trade deal would avert a tariff-led recession, but Deutsche Bank argues that the recent trade agreements are more beneficial to the rest of the world, likely keeping the greenback’s upside in check.
The dollar index, a measure of the greenback against a basket of currencies, jumped 1.6% to 101.78. Treasury yields rose sharply as investors shifted away... (continue reading...)
By Michael S. Derby and Ann Saphir
(Reuters) -Top U.S. bank lending officers reported weaker demand from businesses and consumers for many types of credit during the first three months of the year, according to a Federal Reserve report released on Monday, reversing a short-lived surge in loan demand the previous quarter.
The number of banks reporting weaker demand for commercial and industrial loans outnumbered those reporting stronger demand... (continue reading...)
By Ann Saphir
(Reuters) -The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax season and record collections of import duties, the Treasury Department said on Monday.
Treasury reported that customs duties in April totaled $16 billion, about a $9 billion increase from the year-earlier period and far eclipsing the... (continue reading...)
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