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Plus: First Brands’ new management accuses founder Patrick James of fraud. And Stellantis’s Chrysler recalls over 300,000 hybrid Jeeps over battery fire risks. Zoe Kuhlkin hosts.
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An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor.
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Bonus Episode for Nov. 4. The weight-loss-drug arms race is only heating up, as Novo Nordisk attempts to snatch drugmaker Metsera away from Pfizer. But can either company compete with Zepbound seller Eli Lilly? WSJ reporter Peter Loftus discusses what earnings from Big Pharma, including AbbVie, Bristol Myers Squibb and Merck, say about the future of the industry and how companies are responding to President Trump’s drug-pricing plans, including TrumpRx.
WSJ Heard on the Street columnist David Wainer hosts this special bonus episode of What's News in Earnings, where we dig into companies’ earnings reports and analyst calls to find out what’s going on under the hood of the American economy.
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Further Reading:
Novo Nordisk Sweetens Offer for Metsera - WSJ
Pfizer Sues Seeking to Block Novo Nordisk’s Effort to Undo Weight-Loss Drug Deal
Why Pfizer Can Still Prevail in the Obesity Fight With Novo Nordisk
The Day Pharma’s Weight-Loss Gold Rush Intensified
Pfizer Profit Falls Amid Lower Covid-19 Drug Demand
Novo Nordisk Seeks to Outmuscle Pfizer With $9 Billion Bid for Metsera
Novo Nordisk to Shake Up Board After Obesity-Market Challenges
Mounjaro Powers Eli Lilly to Bumper Quarter of Earnings
AbbVie Lifts Profit Outlook as Sales Rise
Bristol Myers Squibb Profit Soars, Raises Revenue Guidance
Merck Profit Rises on Strong Keytruda Demand
GSK Lifts Guidance After Specialty Medicines Boost Sales
Novartis Expects to Ride Out Patent Losses With Sales, Profit Growth Ahead
Biogen Cuts Full-Year Earnings Guidance, Despite Third-Quarter Profit Rise
J&J Lifts Full-Year Sales Outlook, Fueled by Pharma, Med-Device Gains
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Dick Cheney, who became one of the most powerful vice presidents in US history as George W Bush's number two during 9/11 and the wars in Afghanistan and Iraq, died Monday. He was 84. Also: Sudan's military government meets to discuss its response after its last stronghold in the Darfur region was seized by paramilitaries; New Yorkers vote for their next Mayor, and scientists in Kenya find evidence that the first humans used stone tools.
The Global News Podcast brings you the breaking news you need to hear, as it happens. Listen for the latest headlines and current affairs from around the world. Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight. Get the news that matters, delivered twice a day on weekdays and daily at weekends, plus special bonus episodes reacting to urgent breaking stories. Follow or subscribe now and never miss a moment. Get in touch: globalpodcast@bbc.co.uk
Kimberly-Clark’s stock closed down 14% yesterday after it gambled nearly $50 billion on a company called Kenvue, maker of Listerine, Band-Aids, and Tylenol — the painkiller HHS Secretary Robert F. Kennedy wants to link to autism, despite a lack of scientific evidence. People are now suing Kenvue, a potential liability that will become Kimberly-Clark's problem. We unpack. Also: potential changes to public service loan forgiveness and a speech by Federal Reserve Governor Lisa Cook.
The Trump administration moves to partially fund SNAP during the shutdown after court orders, as millions await benefits. California voters head to the polls in a special election on Proposition 50. Staffing shortages tied to the shutdown delay flights at LAX and San Diego. UK police charge a suspect in a train stabbing that injured eleven. New York’s mayoral race enters its final hours. Los Angeles celebrates the Dodgers’ second straight World Series title. North Hollywood’s historic Valley Plaza mall begins demolition. And Southern California tests driverless freight trains that could reshape shipping.
California, Virginia, New Jersey, and New York City all have potentially game-changing elections today and we break them down rather than having a breakdown, which will probably come tomorrow, once the results are in. Give a listen.
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The former US Vice-President Dick Cheney has died. One of the most powerful men to hold that office, he was key to the allied invasion of Iraq, in 2003. We hear American and Iraqi views of his legacy.
Also in the programme: videos start to emerge from Tanzania of bodies in the street after disputed elections; and Salman Rushdie tells us about his latest collection of fiction. (File photo: US President George W. Bush (L) and Vice President Dick Cheney celebrate at the conclusion of the 2004 Republican National Convention at Madison Square Garden in New York, September 2, 2004. Credit: Reuters/Kevin Lamarque/File Photo)
Tanzania's President Samia Suluhu Hassan has been sworn in after the deadly protests that followed her election victory. Can she use her second term to unite the country? At least 40 people have died in multiple landslides that struck Kenya and Uganda's mountainous border region in the Great Rift Valley. What makes that belt susceptible to such calamitous events and are they happening more frequently? And after two decades and an estimated cost of nearly $1bn, Egypt’s Grand Museum has opened its doors. One of the most anticipated exhibits is the tomb of Tutankhamun which is displayed in full for first time. But who was the young pharaoh, often referred to as the ‘boy king’?
Presenter: Audrey Brown Producers: Sunita Nahar, Mark Wilberforce, and Stefania Okereke Technical Producer: Craig Kingham Senior Producer: Patricia Whitehorne Editors: Alice Muthengi and Andre Lombard
Plus: Spotify adds subscribers in the third quarter. And Uber logs higher quarterly profit and revenue. Zoe Kuhlkin hosts.
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As the federal government shutdown drags on, tribes are feeling the brunt more than the general population. That’s among the conclusions in a new report from the Brookings Institution that examines how the government distributes the funds it is obligated to. The report finds that a large portion of the money for tribal necessities like health care, education, and economic well-being required under the Trust and Treaty Responsibility is dependent on annual action by Congress rather than being baked into the automatic allocations that other federal funding recipients enjoy. The report calls on a more reliable funding system for tribes.
The shutdown has prompted several tribes, including the Spirit Lake Nation, Standing Rock Tribe, and Shawnee Tribe of Oklahoma, to declare states of emergency, mainly because of the lack of food and winter heating assistance. We’ll hear more about how the shutdown is grinding away at tribes’ ability to help their citizens.
GUESTS
Chairman Joseph James (Yurok Tribe)
Nikki Stoops (Native Village of Kotzebue), vice president of engagement for the Alaska Federation of Natives
Liz Malerba (Mohegan Tribe), director of policy and legislative affairs for the United South and Eastern Tribes Sovereignty Protection Fund
Robert Maxim (Mashpee Wampanoag), fellow at the Brookings Institution
Break 1 Music: Hard Paddle (song) Salish Spirit Canoe Family (artist) Keep Singing, Keep Dancing (album)
Break 2 Music: Traditional Side Step Song (song) Little Otter (artist) Side Step Songs (album)