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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Oct 30, 2015
Page
13
The U S economy expanded 1.5 percent at an annual rate in the July to September quarter, down from 3.9 percent in Q2, as businesses cut back amid overseas weakness. Valeant shares fall after CVS drops Philidor Rx Services from its Caremark network following an internal audit finding non compliance.
Deutsche Bank said it would shed 35000 jobs and close operations in 10 countries after posting a 6.6 billion quarterly net loss. The loss stemmed from a write down of holdings in a Chinese bank and charges tied to sanctions investigations. Gannett reports weaker Q3 earnings though beats on per share.
Pfizer headquarters in New York City employs 78,300 with a market cap of 218 billion dollars. The top five products include Prevnar Lyrica Enbrel Lipitor and Viagra with billions in annual sales. Dublin and Parsippany appear in the notes alongside 32,100 employees and a 113 billion market cap for Allergan. Restasis Namenda Botox and Bystolic are listed with varied revenues and regions.
Pfizer and Allergan discuss a deal that could be the year’s largest in market value near 0.3 trillion. A tax inversion risk looms as both sides weigh headquarters location to reduce U.S. taxes, with analysts noting potential job cuts and restructuring if the merger proceeds.
Walmart launches holiday discounts on Sunday with iPad Mini 2 at 199 and a 48 inch RCA smart TV at 299.99 while boosting Walmart.com rollbacks by about 15 percent. Target plans a Nov 1 holiday switch with decor and new pickup options as in-store pickup expands to 121 stores.
A Pew Research Center survey shows 86% of 18 to 29 year olds own smartphones, 83% of 30 to 49 year olds, and 68% overall. Among higher earners, 87% own smartphones while 92% of U S adults own any mobile phone. Desktop and laptop ownership remains around 73% and tablet ownership sits at 45%.
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