Union Pacific Warns Merger Could Jam Chicago Rail Hub
Union Pacific warned that Canadian Pacific Railway's bid for Norfolk Southern could worsen Chicago area congestion by sharing assets to favor merging traffic. The memo reiterates UP opposition to more consolidation and cautions regulators about industry disruption.
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Biotech CEO arrest sparks outrage over drug pricing
Martin Shkreli, 32, famed for hiking a drug price fiftyfold, was arrested by the FBI in Brooklyn on securities fraud and conspiracy charges. He pleaded not guilty and posted $5 million bail. Co-defendant Evan Greebel faced similar charges.
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Late market plunge wipes out Wednesdays stock gains
Stocks fell sharply on Thursday erasing the prior day’s gains as energy and mining shares slumped. The Dow dropped 253.25 points to 17,495.84 while the S&P 500 slid 31.18 to 2,041.89 and the Nasdaq declined 68.58 to 5,002.55 amid lower oil and commodity prices.
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