What are Brexit contingency plans for pharmaceutical industry? | Politics – Business Article

Brexit poses a big threat to pharmaceutical research and manufacturing in the UK, the industry has said, potentially driving up manufacturing costs and deterring future investment. AstraZeneca and other companies have frozen all manufacturing investments. Britain’s second-biggest drugmaker decided to halt further investments at its Macclesfield site in the summer of 2017. Its chairman, Leif Johansson, has said the UK needs to make sure it “does not become an isolated island in the middle of the Atlantic Ocean”. David Jefferys,…

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‘We proved Amazon wrong’: activists celebrate Bezos retreat from Queens | Technology – Business Article

Amazon picked a tough moment to come to New York. Progressive groups were in the ascendant and they turned their fire on an obvious target: a plan to lure a company run by the world’s richest man with $3bn in subsidies and tax breaks. The abrupt collapse of Amazon’s plan for a new headquarters, or HQ2, in Long Island City was a milestone victory for leftwing insurgents over establishment Democrats who backed the deal. “This is a new day in…

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Donald Trump hints at extension to China trade talks | US news – Business Article

President Donald Trump has conceded that he will delay planned increases in import duties on $200bn (£155bn) of Chinese goods if there is progress in trade talks in Washington next week. Appearing to soften his demand for talks to conclude before 1 March, Trump said there could be a 30- or 60-day extension, should negotiators get closer to a deal. He said a delay was justified, based on the scope and scale of the talks. Speaking on the White House…

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Markets boosted by US government shutdown deal and trade war hopes – business live | Business – Business Article

Republican Senator from Alabama Richard Shelby, who says a deal to avoid another government shutdown has been reached Photograph: Jim Lo Scalzo/EPA Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business. A burst of optimism is rippling through the markets this morning, after US lawmakers reached a tentative deal to avoid another government shutdown. Overnight, Democrats and Republicans agreed a new spending package, which includes some more money to fund…

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How another shutdown could weaken a key workplace equality agency | US news – Business Article

In a typical week, the US Equal Employment Opportunity Commission (EEOC) fields more than 10,500 emails and phone calls from people who are deciding whether their problem at work is actually employment discrimination. The agency receives about 1,500 new charges of discrimination weekly and resolves an additional 2,000, said EEOC Commissioner Charlotte A Burrows. But for five weeks during the government shutdown, those phone calls and emails went unanswered. The agency’s attorneys requested continuances from federal courts for litigation, and…

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Don’t call Howard Schultz a billionaire. He’s just a ‘person of means’ | Arwa Mahdawi | Opinion – Business Article

Howard Schultz is worth around $3.4bn. While one might think that would make the former Starbucks CEO and would-be presidential candidate a “billionaire”, he would prefer you didn’t use that term. You see, while billionaire may seem like a simple descriptor, it is actually a disgusting slur. Schultz enlightened us as to the problematic nature of the b-word at a book event in New York last Monday. When asked by New York Times columnist Andrew Ross Sorkin whether he thought…

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Why record job growth in America hides a troubling reality | Business – Business Article

January marked the 100th consecutive month of job creation in the United States – a record breaking streak of job creation that has left employers scrambling to find workers and dragged the long-term unemployed back into the market. Yet even now, 20m jobs later, there are some parts of the US economy that have yet to reflect the positive image projected by the continuous job growth and low unemployment rate. “That we’ve had the unemployment rate at or below 4%…

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European shares open lower ahead of key US-China trade talks – business live | Business – Business Article

Reuters has done a useful explainer on the trade negotiations. The two sides are trying to resolve deep differences over China’s trade and intellectual property practices, industrial subsidies and market access – to avert an increase in US tariffs on Chinese goods scheduled for 2 March. What are Washington and Beijing fighting about? After years of steadily rising US trade deficits with China and US complaints that Beijing has systematically obtained American intellectual property and trade secrets through coercion and…

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