Covid-19 Drug Remdesivir Fully Approved by FDA

The Food and Drug Administration has granted a full final approval to Gilead Sciences's remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator. 


 
Walmart Sues U.S., Aiming to Head Off Opioid Penalties

Walmart sued the federal government in an attempt to strike a pre-emptive blow against what it said is an impending opioid-related civil lawsuit from the Justice Department. 


 
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case

A unit of Goldman Sachs pleaded guilty to conspiring to violate U.S. antibribery laws, the first step in an expected resolution of a long-running investigation into its role in a Malaysian corruption scandal. 


 
Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says

The ride-hailing companies must comply with an order that requires them to reclassify their drivers as employees, a California appeals court said, siding with a lower-court ruling that threatened to upend the business models. 


 
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips

Chip giant Intel Corp. raised its full-year outlook even as earnings suffered as consumers gravitated to cheaper laptops and demand for datacenters softened. 


 
California Loses Last-Ditch Effort to Force Exide to Deal With Toxic Legacy

California taxpayers were left responsible for a contaminated plant outside Los Angeles after a judge turned down an emergency bid by state environmental regulators to block Exide Technologies from exiting bankruptcy. 


 
Pension Backers Focus Fresh Attention on Apollo Founder's Ties to Jeffrey Epstein

Several pension backers of Apollo Global Management have expressed concern after a recent news report about financial ties between Leon Black, the firm's co-founder, and the late Jeffrey Epstein, who killed himself while awaiting trial on sex-trafficking charges. 


 
Wall Street Profits Soar During First Half of 2020

Wall Street profits jumped 82% in the first half of this year, a rare bright spot for the city and state's pandemic-ravaged budgets. 


 
Barclays Swings to Profit but Sees Persistent Headwinds

Chief Executive Jes Staley sounded a cautiously optimistic note about the U.K. bank's prospects of rebounding from the coronavirus pandemic after it posted a profit in the third quarter. 


 
Chinese Fintech Company Lufax Seeks Up to $2.4 Billion in U.S. IPO

Lufax, a smaller rival to Chinese financial-technology giant Ant Group, is seeking to raise as much as $2.4 billion from an initial public offering in the U.S.

(END) Dow Jones Newswires

10-23-20 0515ET