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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 04, 2014
Page
24
Google's Calico and AbbVie strike a 10 year collaboration to build a world class research site in the Bay Area with up to 1.5 billion in funding. Initial contributions total up to 500 million from each side with potential 500 million more later. Calico plans a substantial scientific staff.
CVS Health will replace the CVS Caremark brand and drop tobacco sales immediately. Tobacco products are removed from shelves and nicotine replacement packs and quit guides are offered in some stores as CVS shifts to a broader health care focus.
The Federal Reserve's Beige Book shows growth in all 12 regions during July and August with six regions describing it as moderate. Most areas report optimism, increased loan demand, and higher hotel occupancy, while officials expect rates to stay near zero until late 2015 as bond purchases wind down in October.
Federal regulators approved liquidity rules forcing banks with more than 250 billion in assets to keep enough cash government bonds and other high quality assets to cover 30 days of operations during market stress. The rules aim to reduce taxpayer risk and strengthen resilience of large U S banks.
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