EU tells Facebook, Google and Twitter to ‘do more’ for users

BRUSSELS (Reuters) - Europe’s justice commissioner told Facebook (FB.O), Twitter (TWTR.N) and Google (GOOGL.O) on Thursday to do more to bring their user terms in line with EU law, saying proposals submitted by the tech giants were considered insufficient. Slideshow (2 Images)The European Union executive and consumer protection authorities said the three companies have only partially addressed concerns over...

U.S. healthcare spending to climb 5.3 percent in 2018: agency

WASHINGTON (Reuters) - United States health spending is projected to rise 5.3 percent in 2018, reflecting rising prices of medical goods and services and higher Medicaid costs, a U.S. government health agency said on Wednesday, an upward trend it forecasts for the next decade. The increase represents a sharp uptick from 2017 spending, which the U.S. Centers for...

Qualcomm meets Broadcom to discuss $121 billion acquisition offer

(Reuters) - Qualcomm Inc said on Wednesday it met with Broadcom Ltd earlier in the day to discuss the latter’s revised $121 billion bid, the first time the chipmakers have discussed what would be the technology sector’s largest ever acquisition. The outcome of the meeting will determine whether Qualcomm, which has resisted Broadcom’s takeover approach since November, will engage...

Bayer gets FDA rebuke for drug production in Germany

FRANKFURT (Reuters) - Bayer said it had received a warning letter from the U.S. Food and Drug Administration over how it handled production of some drugs at its Leverkusen, Germany headquarters. The German drugmaker, which is taking over U.S. seed maker Monsanto, is addressing the FDA’s complaints regarding manufacturing practices, which stem from a routine inspection in January, Bayer...

Walmart goes to the cloud to close gap with Amazon

SAN BRUNO/SUNNYVALE, Calif. (Reuters) - One of Walmart Inc’s best chances at taking on Amazon.com Inc in e-commerce lies with six giant server farms, each larger than ten football fields. These facilities, which cost Walmart millions of dollars and took nearly five years to build, are starting to pay off. The retailer’s online sales have been on a...

Drug copies ready to take next bite out of Roche’s cancer sales

LONDON (Reuters) - European oncologists will soon get their hands on cut-price copies of breast cancer drug Herceptin, turning the screws on maker Roche and giving another boost to a new breed of companies focused on so-called biosimilars. South Korea’s Celltrion is the biggest winner in the biosimilars boom, having tripled in value to $34 billion in the past...

Apple CEO downplays special dividend at shareholder meeting

(Reuters) - Apple Inc Chief Executive Tim Cook downplayed a suggestion that the company might issue a special dividend to shareholders with some of the $285 billion in cash that the company is now able to bring back from overseas. At an annual shareholder meeting at Apple Park in Cupertino on Tuesday, Cook responded to a question on whether...

Opioid makers paid millions to advocacy groups: U.S. Senate report

(Reuters) - Five opioid manufacturers including OxyContin maker Purdue Pharma LP have paid more than $10 million to advocacy groups and doctors tied to them, many of whom amplified industry messages supporting the use of the painkillers, a U.S. Senate report said on Monday. The report, released by Democratic Senator Claire McCaskill, said groups who received the donations aligned...

Icahn, Deason urge Xerox shareholders to oppose Fujifilm deal

(Reuters) - Xerox Corp’s (XRX.N) plan to sell itself to Japan’s Fujifilm Holdings (4901.T) has come under further pressure with Carl Icahn and Darwin Deason urging fellow shareholders to oppose the $6.1 billion deal. The activist shareholders, who own a combined 15 percent of the U.S. printer and copier maker, said the agreement dramatically undervalued Xerox and criticized the...

U.S. woman found with eye worm previously known only in cattle

NEW YORK (Reuters) - An Oregon woman has become the first person worldwide known to have had an eye infestation by a tiny worm species previously seen only in cattle that is spread by flies that feed on eyeball lubrication, U.S. government researchers said on Monday. U.S. Centers for Disease Control and Prevention scientists said 14 translucent parasitic worms...