UPDATE 1-Novartis’ breast cancer treatment wins FDA approval

The U.S. Food and Drug Administration (FDA) said on Friday that it had approved Novartis AG’s treatment in combination with a hormone therapy for postmenopausal women, as well as for men, with a form of advanced breast cancer. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/e8YdUG1wCo4/update-1-novartis-breast-cancer-treatment-wins-fda-approval-idUSL4N2303O0

GLOBAL MARKETS-Stocks climb on muted trade hopes, dollar slips

World equity markets rebounded on Friday from the previous day’s sharp fall, after U.S. President Donald Trump said complaints against China’s Huawei Technologies Co Ltd might be resolved within the framework of a Sino-U.S. trade deal. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/xA_39u6wehk/global-markets-stocks-climb-on-muted-trade-hopes-dollar-slips-idUSL2N23015D

BUZZ-U.S. stocks weekly: On the defensive

** S&P 500 drops for 3rd straight week as trade tensions, global growth worries mount. SPX loses 1.2% ** Indeed, SPX levels bear watching, especially in contested territory ** And timid Nasdaq troops preceded a general retreat. This with a tech war brewing ** That said, Dow Industrials show some fight ** Most sectors take...

UPDATE 5-U.S. deploys more troops to Middle East, blames Iran for tanker attacks

The United States on Friday announced the deployment of 1,500 troops to the Middle East, describing it as an effort to bolster defenses against Iran as it accused the country’s Revolutionary Guards of direct responsibility for this month’s tanker attacks. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/4d7BP1SBoe4/update-5-u-s-deploys-more-troops-to-middle-east-blames-iran-for-tanker-attacks-idUSL2N2300O5

CORRECTED-Slack registers 117 million shares for direct listing (May 20)

Slack Technologies Inc, the owner of the workplace instant messaging app, said https://www.sec.gov/Archives/edgar/data/1764925/000162828019007058/slacks-1a2.htm on Monday it had registered about 117 million of its Class A shares, which is an estimate for the number of shares that will be needed when the stock begins to trade. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/6HGybXZ8BkM/corrected-slack-registers-117-million-shares-for-direct-listing-idUSL4N22W44T

US STOCKS SNAPSHOT-Wall St ekes out gains on U.S.-China trade hopes

Wall Street’s major indexes edged higher on Friday in a rebound from the previous session’s losses after hopeful comments from U.S. President Donald Trump regarding trade relations with China assuaged concerns among some investors. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/b5PICjahkwc/us-stocks-snapshot-wall-st-ekes-out-gains-on-u-s-china-trade-hopes-idUSZXN0RL62I

Mideast peace plan’s rocky start: Did US misread Arab politics?

The first phase of the long-awaited U.S. plan for Middle East peace, a summit in Bahrain to discuss economic investment in the Palestinians, is already beginning to look like a major miscalculation. The announcement this week of the June 25-26 event was met with a wave of derision among Palestinians and in the Arab press,...

UPDATE 4-Novartis $2 mln gene therapy for rare disorder is world’s most expensive drug

ZURICH/NEW YORK, May 24 – Swiss drugmaker Novartis on Friday won U.S. approval for its gene therapy Zolgensma for spinal muscular atrophy (SMA), the leading genetic cause of death in infants, and priced the one-time treatment at a record $2.125 million. JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/companyNews/~3/BPvrwS2ZU5w/update-4-novartis-2-mln-gene-therapy-for-rare-disorder-is-worlds-most-expensive-drug-idUSL2N2300QT