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REUTERS: Pfizer Inc on Monday reported a 30per cent rise in quarterly profit, helped by demand for its branded treatments such as Ibrance, Eliquis and Xeljanz.Pfizer, which was scheduled to report its second-quarter earnings on Tuesday, also said it would combine Upjohn, its off-patent drugs business, with Mylan NV .Pfizer said net income rose to US$5.05 billion, or 89 cents per share, in the second quarter, from US$3.87 billion, or 65 cents per share, a year earlier.Revenue fell 1.5per cent to US$13.26 billion.(Reporting by Tamara Mathias in Bengaluru; Editing by Maju Samuel) … [Read more...] about Pfizer posts 30per cent rise in quarterly profit

Business Bitcoin skidded as much as 9per cent on Tuesday, falling below the US$10,000 mark and pushing losses to over 30per cent since the original cryptocurrency hit an 18-month-high last week. 02 Jul 2019 08:20PM Bookmark LONDON: Bitcoin skidded as much as 9per cent on Tuesday, falling below the US$10,000 mark and pushing losses to over 30per cent since the original cryptocurrency hit an 18-month-high last week.In volatile trading, bitcoin recovered some of that ground by early afternoon to trade down 6per cent at US$9,953.On Wednesday last week, it touched US$13,880, its highest since January 2018, on hopes that Facebook's unveiling of its Libra cryptocurrency would drive adoption of digital coins.Traders said there was no immediate news catalyst for the fall, ascribing the moves to largely technical trading. Other major cryptocurrencies including Etherum and Ripple's XRP also fell 4per cent and 5.5per cent respectively.Facebook's announcement that it planned to launch by … [Read more...] about Bitcoin’s losses grow; recoils 30per cent from 2019 highs

LONDON: Bitcoin's weathered hacks, heists, booms and busts to reign as the king of cryptocurrencies through its first decade. But now there's a fresh challenge to its dominance of the fledgling market: some 2,000 smaller digital coins.Collectively, "altcoins" are gaining ground on their bigger cousin. Individually, they are gaining traction among users, gathering communities of developers and users often deeply devoted to their goals.Bitcoin now accounts for around 60per cent of the US$240 billion crypto market, down from nearly 90per cent just over two years ago. That fading dominance reflects tough times for the original cryptocurrency since its late 2017 apex.Bitcoin has almost doubled in value this year, rallying nearly 30per cent in recent days to touch its highest level in ten months on Tuesday. But last year it lost three-quarters of its value.That volatility has put off mainstream investors from pension funds to asset managers who are seen as crucial to bitcoin's growth from … [Read more...] about Rise of smaller rivals throws up fresh challenge to bitcoin

REUTERS: U.S. stocks fell on Friday, as investors worried over the possibility of a long-drawn-out U.S.-China trade dispute, but hopes that the two sides could still reach a last-minute deal limited losses.President Donald Trump said he was in "absolutely no rush" to finalize a trade agreement with China, after the United States increased duties to 25per cent on US$200 billion worth of Chinese goods overnight.But even as Beijing threatened retaliation, negotiators in Washington agreed to stay on for a second day, raising expectations that a deal would be reached."Everyone knows that the United States and China are talking, and are looking at the tariffs as a bargaining chip. It's all about leverage and who outmaneuvers whom," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey."In the end Trump will get a deal done, but in the interim we have to put up with his way of doing it. We are going to have a lot of volatility, until we have … [Read more...] about Wall St falls on concerns of protracted trade dispute