Sun Pharmaceutical Industries Ltd’s alopecia drug Leqselvi (Deuruxolitinib) approved by the US Food and Drug Administration (USFDA) earlier this month could see immediate legal hurdles when it comes to its launch. A motion seeking a preliminary injunction has been filed in a US court to prevent the product’s launch. The management cannot comment on the…
Washington: The founder of cryptocurrency firm Binance was sentenced to four months in US prison on Tuesday after pleading guilty to money laundering charges, in the most high-profile crypto case since Sam Bankman-Fried was jailed. Changpeng Zhao, a Canadian, resigned from his post at the world’s largest cryptocurrency exchange platform late last year as part of…
Paytm has responded to the Reserve Bank of India’s order that imposes a list of restrictions on the company’s various services. The order impacts Paytm Wallets, Paytm FASTags, fund transfers, and more. Here is how this will affect you. Paytm Payments Bank was imposed with a list of restrictions by the Reserve Bank of India…
Frankfurt, Germany: Germany’s biggest lender Deutsche Bank on Thursday announced plans to slash 3,500 jobs as part of a major cost-cutting drive after its net profit fell in 2023. The group reported a net profit attributable to shareholders of 4.2 billion euros ($4.5 billion), a 16-percent drop on the year before when profits were boosted by…
The leading department store chain Macy’s is reportedly considering the termination of 2,350 employees and the closure of five stores as part of a cost-cutting initiative, according to a Wall Street Journal (WSJ) report. The job cuts represent 3.5% of Macy’s total workforce, excluding seasonal hires, as detailed in an internal memo circulated to employees…
Washington: US car maker Tesla has lost its crown for most sales of all-electric vehicles to Chinese firm BYD, which has capitalized on Beijing’s strong government support for the burgeoning sector. The US-based car manufacturer run by billionaire Elon Musk delivered a record 484,507 vehicles in the fourth quarter of 2023, according to a company filing…