Bristol-Myers CEO: We’re ‘one step closer to creating that great company’ with Celgene

Bristol-Myers CEO: We’re ‘one step closer to creating that great company’ with Celgene

Bristol-Myers Squibb CEO Giovanni Caforio told CNBC on Friday the company is “one step closer to creating that great company” after shareholders greenlit a $74 billion takeover of Celgene. He expects that the deal for the cancer drugmaker will close in the third quarter. “When the two companies come together, we’ll have two growing businesses,” Caforio said in an interview with “Mad Money’s” Jim Cramer. “We’re going to be able to launch six new medicines,…

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California state called for spreading wildfire costs ‘broadly’ — and PG&E stock jumped 20%

California state called for spreading wildfire costs ‘broadly’ — and PG&E stock jumped 20%

California Gov. Gavin Newsom on Friday released a wildfire report that slams PG&E for its role in major blazes and suggests the state could push to break up the utility. The report also suggests wildfire costs should be spread “broadly,” and not just to utilities and investors but to insurers and even government. “After years of mismanagement and safety failures, no options can be taken off the table to reform PG&E, including municipalization of all…

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Cramer’s Game Plan: Remember this market ‘has no memory’ this earnings season

Cramer’s Game Plan: Remember this market ‘has no memory’ this earnings season

The major U.S. indexes all rallied Friday on the backs of Walt Disney, J. P. Morgan Chase, and Chevron, but CNBC’s Jim Cramer warned that “this positivity” will be hard to sustain. The Dow Jones Industrial Average moved forward nearly 270 points, the S&P 500 advanced 0.66%, and the Nasdaq Composite added 0.46% during the session. “Even though earnings season kicked off with an amazingly bullish bang, we’ll be right back where we started from…

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FDA threatens to fine Walmart, Kroger and convenience store chains for selling tobacco to minors

FDA threatens to fine Walmart, Kroger and convenience store chains for selling tobacco to minors

The Federal Drug Administration threatened to fine Walmart, Kroger, Family Dollar and more than a half dozen convenience store and gas station chains for illegally selling tobacco products to minors. The agency cited high rates of violations in nearly identical letters sent to retailers last week. In addition to the retailers above, 7-Eleven, BP, Casey’s General Stores, Chevron, Citgo, Exxon, Marathon Petroleum, Shell and Sunoco all received the letters, which were dated April 5 and…

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Mattel’s Fisher Price recalls all ‘Rock ‘n Play’ models due to reports of deaths

Mattel’s Fisher Price recalls all ‘Rock ‘n Play’ models due to reports of deaths

U.S. Consumer Product Safety Commission said on Friday that toy maker Fisher-Price has voluntarily recalled all its “Rock ‘n Play Sleeper” products after reports of more than 30 infant deaths. The regulator said consumers should immediately stop using the product and contact Fisher-Price for a refund or voucher. “We stand by the safety of our products. However, due to reported incidents in which the product was used contrary to the safety warnings and instructions, we…

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CDC suspects ground beef is the source of recent E. coli outbreak

CDC suspects ground beef is the source of recent E. coli outbreak

The Centers for Disease Control and Prevention is homing in on ground beef as the source of the latest E. coli outbreak in the U.S., the agency said Friday, citing preliminary findings in its ongoing investigation. “Traceback investigations are ongoing to determine the source of ground beef supplied to grocery stores and restaurant locations where ill people ate,” said the CDC. The agency is looking at the grocery stores and restaurants where people said they…

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Facebook spent $20 million last year on Zuckerberg’s personal security, up 4 times from 2016

Facebook spent $20 million last year on Zuckerberg’s personal security, up 4 times from 2016

Facebook on Friday announced that it allocated CEO Mark Zuckerberg $20 million for security purposes — that’s four times what he received for security in 2016. The increase shows up in a Friday afternoon financial filing, which showed Zuckerberg’s compensation more than doubled from $9.1 million in 2017 to $22.6 million in 2018. However, that increase is nearly all attributable to higher security costs. The company said Zuckerberg received nearly $10 million in 2018 for…

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Trump urged now-Homeland Security boss to close Mexico border, would pardon him: Reports

Trump urged now-Homeland Security boss to close Mexico border, would pardon him: Reports

President Donald Trump urged the now-acting secretary of Homeland Security to close the U.S. border with Mexico, and that he would pardon him if he suffered any legal fallout from following Trump’s directive, new reports said Friday. The New York Times reported that Trump pushed Kevin McAleenan to take that action last week, despite having publicly claimed days beforehand that he was giving Mexico a warning of one year to stop illegal immigration and drugs…

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Netflix CEO Reed Hastings to depart Facebook board of directors

Netflix CEO Reed Hastings to depart Facebook board of directors

Facebook on Friday said Netflix CEO Reed Hastings will not be nominated for re-election at the company’s 2019 annual stockholders meetings. Hastings has served on the board of the social media company since 2011. The company said it will also not be re-nominating Erskine Bowles the president emeritus of the University of North Carolina, and it will instead nominate Peggy Alford, PayPal senior vice president of core markets. “Reed has served on the board since…

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Here’s what happens if you don’t file your taxes before April 15

Here’s what happens if you don’t file your taxes before April 15

2018 taxes are due soon and, though everyone’s tax situation is different, you could face real consequences if you don’t submit your return by the deadline, Monday, April 15. Here’s what you need to know. There are different penalties for not filing your taxes and not paying them, says Bill Smith, managing director of CBIZ MHM’s National Tax Office. If you don’t file, you can face a failure-to-file penalty. The penalty is 5% of your…

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