Author: Chaz Cutler

In a retrospective study of prescribing patterns among thousands of American ophthalmologists and optometrists, Johns Hopkins Medicine researchers concluded that ophthalmologists who receive even small financial incentives from drug companies, such as free food, sponsored trips for attending meetings or consulting fees, they may be twice as likely to prescribe company-brand eye drops for glaucoma rather than cheaper generic versions. “We don’t know why certain doctors more often prescribe high-cost brand-name eye drops when generics are generally just as good,” says Thomas Johnson III, MD, Ph.D., Allan and Shelley Holt Rising Professor of ‘Ophthalmology at Johns Hopkins. University School of…

Famed investor Michael Burry, known for calling the subprime mortgage crisis, exited all of his existing holdings at the end of the second quarter, according to a new regulatory filing. “The Big Short” investor sold out all 11 of his equity positions last quarter, including Meta, Alphabet, Warner Bros. Discovery, Global Payments and Bristol-Myers Squibb, showed the presentation. He also exited his short bet against Apple in late June. Burry added one stock: $3.3 million from GEO Group last quarter, the filing showed. The investor has been in and out of this private prison operator over the past two years….

Over the past couple of years, buying bosses have barely had a moment to relax amid the frenzy of blockbuster business. But as the economic downturn affects corporate activity and the summer holiday season gets into full swing, many private equity professionals are shedding their bookstores. Sister title of Financial News Private Equity News spoke to industry figures about what’s on their reading lists, which include fiction and non-fiction titles, from novels to history, as well as economics and business books. Contributions have been edited for clarity. Christopher MasekCEO or IK PartnersThis summer I will be reading One Thousand and…

Every weekday, the CNBC Investing Club with Jim Cramer does a live “morning session” at 10:20am ET. Here’s a recap of Monday’s key moments: Falling oil is good news We want to confirm that inflation has peaked Quick mentions: JNJ, LLY, LIN Disney’s real problem is its balance sheet 1. Falling oil it’s good news. data from China overnight, along with news that the country’s central bank cut interest rates in a surprise move. Wall Street turned positive after last week’s strong rally, which was spurred by economic data suggesting inflation is peaking. West Texas Intermediate crude, the US oil…

As big banks shied away from cryptocurrency ventures, a handful of small lenders eagerly courted the booming businesses. Now, they are dealing with the bust. Silvergate Capital, Signature Bank and Customers Bancorp have secured billions of dollars in deposits from crypto businesses – the exchanges, investment firms and stablecoin issuers that have grown rapidly alongside the digital currency market. The fall in crypto prices this year has taken banks on a wild ride. At Silvergate, deposits varied by $5 billion in the second quarter, an almost unheard-of move for a bank of its size, before ending basically flat at $13.5…

Placeholder while loading item actions Oil prices fell on Monday after China’s central bank unexpectedly cut rates after data showed economic activity slowed broadly in July, including consumer spending and factory output, rekindling concerns of a global recession. Signs of further cooling in the world’s second-largest economy, no longer clouded by China’s zero-covid policy and a housing crisis, alarmed energy markets. The prospect of lower demand sent oil prices down 5 percent, pushing West Texas Intermediate crude to $87 a barrel. Data in July indicated that the post-lockdown recovery is fading amid a range of economic challenges, including the lingering…

WASHINGTON (AP) – The United States on Monday imposed sanctions on three senior Liberian government officials for their involvement in alleged public corruption… WASHINGTON (AP) – The United States on Monday imposed sanctions on three senior Liberian government officials for their involvement in alleged public corruption. President George Weah’s chief of staff, the nation’s chief prosecutor and the current managing director of the national ports authority have been targeted by the Treasury Department’s Office of Foreign Assets Control for sanctions. Liberia suffered back-to-back civil wars that left 200,000 dead and displaced half of the country’s population. Public corruption has been…

WASHINGTON (AP) – The United States on Monday imposed sanctions on three senior Liberian government officials for their involvement in alleged public corruption. President George Weah’s chief of staff, the nation’s chief prosecutor and the current managing director of the national ports authority have been targeted by the Treasury Department’s Office of Foreign Assets Control for sanctions. Liberia suffered back-to-back civil wars that left 200,000 dead and displaced half of the country’s population. Public corruption has been a persistent problem, impeding economic development in an otherwise resourceful country of more than 5 million people. A Treasury Department statement said the…