U.S. FDA approves Pfizer’s high profile breast cancer drug

The U.S. Food and Drug Administration on Tuesday approved Pfizer Inc's Ibrance, a potential new standard of care for advanced breast cancer, in a regulatory decision that came more than two months earlier than expected. Wall Street has considered the drug, whose chemical name is palbociclib, to be …

U.S. homeownership hits 20-year low, but new households growing

U.S. homeownership fell to a 20-year low in the fourth quarter, but a sharp rebound in the rate at which Americans are setting up home is expected to help drive a pick-up in housing. Household formation, however, more than quadrupled to 1.7 million in the fourth quarter from only 356,000 …

4 Global Mutual Funds to Outperform Peers – Zacks.com

4 Global Mutual Funds to Outperform PeersZacks.comThe key benefit that global mutual funds provides is diversification since they invest in overseas markets while also holding domestic equities. Thus, they make good additions to a portfolio weighted in favor of domestic investments. The tepid economic …Sentry Investments and Sun Life Global…

Oil Majors’ Profits Take A Beating

The first quarterly earnings reports since the collapse of oil prices are in and the numbers show a significant deterioration in profits for the oil majors. Royal Dutch Shell went first on January 29, revealing a big jump from the same quarter a year ago, but down from the third quarter …

US GDP Sets High Expectations

After Fed Chairman Ben Bernanke’s testimony yesterday, the USD has entered a minor down-turn. His statements reaffirmed the notion that interest rates will be held at record lows for some time. Even though the US stock market received a boost from this news, the greenback suffered a set…

From the archives: A false friend

UK Only Article: standard article Fly Title: From the archives Rubric: Why mortgage subsidies are a bad idea IN THIS week’s print edition, we explore how mortgage subsidies have encouraged banks to lend more to homeowners and less to firms, with pernicious economic consequences. The Economist has long been a …

10 things to know for Tuesday

One farmer said opium growers can earn more in one day than in one month… . FILE – In this Nov. 13, 2011 file photo, Susan Schneider, from left, Robin Williams, and Zelda Williams arrive at the premiere of “Happy Feet Two” at Grauman’s Chinese Theater, in Los Angeles.

Wall Street posts second day of strong gains, led by energy – Reuters

ReutersWall Street posts second day of strong gains, led by energyReutersNEW YORK (Reuters) – U.S. stocks jumped more than 1 percent on Tuesday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance. Merger activity also helped, with shares …