Category: Business News

Becton Dickinson & Co. is investigating reports from nursing homes that federally provided rapid coronavirus testing equipment from the company is producing false-positive results in some cases. So far, the number of reports is small, nursing-home industry officials said. The American Health Care Association, a trade group representing nursing homes, said it has heard from…

It has been a stunning fall from grace for Exxon Mobil Corp. Just seven years ago, Exxon was the biggest U.S. company by market capitalization. It has since lost roughly 60% of its value, with its market cap now at around $160 billion, after the pandemic crushed demand for fossil fuels. Analysts estimate Exxon will…

Gilead Sciences Inc. is nearing a deal to buy biotech Immunomedics Inc. and its prized breast-cancer drug for more than $20 billion, according to people familiar with the matter. Immunomedics has a market value of roughly $10 billion following a recent surge in its stock, meaning that Gilead is paying up to secure ownership of…

Banking, long dominated by men, now outpaces other industries in promoting women, a point underscored this week when Citigroup Inc. named Jane Fraser as its next chief executive. The industry has made strides in recent years in elevating women, giving them jobs that place them on the executive track —and potentially in the corner office.…