Business Highlights
Automakers are facing multiple threats to their business from tech firms.
TRENTON, N.J. (AP) — Pfizer is fortifying its key immunology and inflammation drug business, snapping up a small maker of skin disorder treatments for about $5.2 billion, weeks after the U.S. Treasury Department torpedoed Pfizer's planned $160 billion deal for Allergan PLC.
With Palo Alto, California-based Anacor, Pfizer gains an experimental eczema treatment that could be approved by the Food and Drug Administration by next January, plus U.S. rights to topical toenail fungus treatment Kerydin and a portfolio of other drugs in early testing.
NEW YORK (AP) — Range Resources will buy rival natural gas producer Memorial Resource Development for about $3.3 billion to expand its range in the East and in the Gulf.
PHILADELPHIA (AP) — The Philadelphia 76ers have become the first team in the NBA to put a sponsorship logo on player uniforms, striking a deal with StubHub for a spot on one of the hottest pieces of real estate available in sports.
(AP) — Investors might question Warren Buffett's long-standing aversion to tech stocks after his Berkshire Hathaway bought 9.8 million shares of Apple.
For the first time since 1974, when the government began releasing data on foreign ownership of Treasury securities, the report broke out ownership for specific countries that it had always lumped together such as "oil exporting nations" and "Caribbean banking centers."
Fido and Spot may not have to cower under the bed this summer when fireworks and thunderstorms hit, thanks to the first prescription veterinary medicine for treating anxiety over loud noises — a widespread problem that causes property destruction, terrified dogs running away and even life-threatening injuries or euthanasia for some.
OKLAHOMA CITY (AP) — SandRidge Energy filed for bankruptcy protection Monday, saying it hopes to convert $3.7 billion of long-term debt into equity