A relatively unknown biotech company made waves in the biopharmaceutical industry last spring by claiming an “unprecedented” breakthrough: its experimental cancer drug appeared to outperform Merck’s Keytruda in a clinical trial. The company, Summit Therapeutics, obtained the drug through a licensing agreement with Chinese firm Akeso Inc. In October, a consortium of life science investors…

Bank of America CEO Brian Moynihan said Wednesday that robust consumer spending so far this year suggests the Federal Reserve will likely delay cutting its benchmark interest rate. According to Moynihan, the bank’s retail customers have spent approximately 6% more in the first 40 days of this year compared to the same period in 2024.…

Zelle, the payments network operated by bank-owned Early Warning Services (EWS), surpassed $1 trillion in total transaction volume last year, marking what it described as a record for a peer-to-peer platform. On Wednesday, the company reported that its user base grew by 12% in 2024, reaching 151 million accounts, while the total dollars sent through…

General Motors believes it can offset up to 50% of the potential tariffs that President Donald Trump has threatened to impose on imports from Canada and Mexico, CEO Mary Barra said on Tuesday. The Detroit automaker has contingency plans in place should tariffs be applied to auto parts and vehicles entering the U.S. from these…

The Philadelphia Eagles weren’t the only big winners at the Super Bowl. The National Football League’s championship game drew a record-breaking 127.7 million viewers on Sunday, according to Nielsen Media Research. This massive live audience was particularly valuable to advertisers who invested heavily to showcase their brands during the event. Live television rarely attracts such…

President Donald Trump is unlikely to completely dismantle the landmark process that enables Medicare to negotiate drug prices with manufacturers, even as he works to undo many of Joe Biden’s major policy achievements. However, Trump is expected to introduce modifications to the negotiation process, potentially without requiring congressional approval. “Trump is looking to nibble around…

Two senior officials at the Consumer Financial Protection Bureau (CFPB) announced their resignations a day after acting Director Russell Vought ordered all staff to halt operations. In separate memos sent early Tuesday, Lorelei Salas, the agency’s supervision director, and Eric Halperin, its enforcement director, stated they could no longer remain in their positions following Vought’s…

Advertisers spent up to $8 million for a commercial spot during Super Bowl 59, and industry executives believe the investment is well worth it, arguing that it provides significant value. The NFL’s championship game between the Philadelphia Eagles and Kansas City Chiefs will be broadcast this year on Fox Corp.’s network, as well as on…

Several beauty stocks suffered significant declines this week, as companies like E.l.f. Beauty and Estee Lauder reported underwhelming earnings and revised their guidance downward. E.l.f. Beauty endured its worst week since August 2018, with shares plummeting nearly 29% over the five-day period. Despite posting a revenue beat for its fiscal third quarter on Thursday, the…

A Ferrari-inspired estate, Casa Maranello, located in Delray Beach, Florida, set a new local record last week when it was sold for $50.5 million. This historic transaction was not only the area’s most significant real estate deal but also one of the most unique. The sale included a mansion swap, custom-designed furniture, extravagant chandeliers, artwork,…