Malaysia’s Finance Minister Wants Goldman’s $7.5 Billion, Not an Apology

PUTRAJAYA, Malaysia—Malaysia’s finance minister waved off an apology from Goldman Sachs Chief Executive David Solomon for the role of one its then-bankers in the scandal surrounding state investment fund 1Malaysia Development Bhd., saying it wasn’t enough. Lim Guan Eng said Friday that the only apology that would matter is one that comes with full reimbursement…

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Eli Lilly to Buy Loxo Oncology in $8 Billion Deal

Eli Lilly & Co. said it is buying Loxo Oncology Inc. for $8 billion in cash, a deal that expands the biopharmaceutical company’s oncology-treatment portfolio and adds to a string of recent deals in the cancer-treatment space. Lilly, based in Indianapolis, will pay $235 a share, a 68% premium to Loxo’s closing price of Friday…

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White House looking at “other ways” to get $5 billion for border wall

White House press secretary Sarah Sanders told Fox News Tuesday that there are “other ways” to get the $5 billion in border wall funding Trump has demanded from Congress, and that “at the end of the day, we don’t want to shut down the government, we want to shut down the border.” Why it matters:…

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Merck buys animal health company Antelliq for $3.7 billion

Merck (NYSE: MRK) agreed to buy Antelliq Group, a French provider of animal identification, tracing and monitoring solutions, from BC Partners for approximately $3.7 billion (including debt assumption). Why it matters: It seems that the only thing hotter than human health deals in 2018 has been animal health deals, whether it be food (General Mills…

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Tivity Health acquiring Nutrisystem for $1.4 billion

Tivity Health has agreed to buy weight loss and dieting company Nutrisystem for $1.4 billion in cash and stock. Between the lines: Tivity is known for its SilverSneakers fitness classes for seniors, which often are an added benefit in Medicare Advantage plans. Tivity sees an opening to include Nutrisystem in MA plans, as the federal…

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Minimum wage hikes have earned workers $68 billion per year since 2012

A new report from the National Employment Law Project does a deep quantitative dive into the various minimum-wage laws that have been passed in recent years. Every percentage point that the minimum wage goes up corresponds to an overall pay rise for workers earning less than the new minimum. NELP put that pay rise into…

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Fortnite Creator Epic Games Valued at Nearly $15 Billion

Epic Games Inc., the creator of the smash-hit videogame “Fortnite,” is valued at almost $15 billion as part of a major new investment round, according to people familiar with the matter. The company on Friday announced investors have purchased $1.25 billion in stock. People familiar with the matter said not all of the money is…

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MIT is investing $1 billion into AI research

In its first fundamental restructuring in nearly 70 years, MIT has announced that it’s pumping $1 billion into creating a new college focused on computing and artificial intelligence. Why it matters: MIT has lined up what it says will be the single largest investment in computing and AI by an American university at a time…

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