The Justice Department launched an investigation on drug makers Merck & Co, Valeant Pharmaceuticals International, and Eli Lilly & Co for alleged over pricing. The Wall Street Journal reported that the US Attorney's office in Eastern District of Pennsylvania, along with the Justice Department's civil division set a probe on Merck, Eli Lilly, and Valeant on how these drug makers calculate and report their product pricing to the government medical rebate program.
Legal & Regulatory
People with unpaid IRS debt can have their Passports cancelled
A bill that prohibits people with unpaid IRS loans from travelling is expected to become law very soon. The Federal government has been going after travelling people who are reporting their taxes incorrectly for a very long time, but now, they plan to apprehend those with unpaid IRS loans.
Legal marijuana products should come with warnings according to AMA
The American Medical Association (AMA) is pushing for new regulations that require some warning signs about the potential hazard of marijuana use during pregnancy and breastfeeding to be written on legal marijuana products. The regulation was set based on studies that suggest marijuana use may be linked with low birth weight, premature birth and behaviour problems in young children.
'Doctor Who' - 'Game of Thrones' Possible Crossover, Natalie Dormer to play first female Doctor?
Peter Capaldi and Jenna Coleman propose a crossover with the hit fantasy series, "Game of Thrones." The "Doctor Who" stars shared this interest at the "Doctor Who" Festival in UK. Meanwile, Natalie Dormer reveals that she is up for the role of the first female Doctor if the script is right.
Cuomo increases Basic Minimum Wage for NY State Workers to $15 an hour
Governor Andrew M. Cuomo announced Tuesday that he would increase minimum wage to $15 for all state workers in New York. According to The New York Times this minimum wage hike makes the New York the first state to put the pay this high for the public employees.
Latest News
High school graduates in Pueblo County, Colorado will get college scholarship from increased tax on marijuana growers by 2017. A CNN report shows that 60 percent of Voters in the county approved Tuesday a measure that will increase taxes on marijuana growers by 5 percent in the year 2020.
The UK government is trying to pass a bill that would ban strong end-to-end encryption that could force Apple to stop selling its iPhone in that country. According to Forbes, the UK government plans to pass legislation that would prohibit the use of strong encryption, which means any encryption they can't break is not allowed.
The National Highway Traffic Safety Administration fined air-bag supplier Takata Corp for $70 million and is ordered to stop manufacturing inflators that has ammonium nitrate.
Europe's major antitrust regulator has opened an "in-depth investigation" on Hutchison's $14 billion acquisition of Telefonica UK's O2 operations. According to The Wall Street Journal, top European Union officials have been warning that mobile-phone mergers in concentrated markets can lead to higher prices and less options for consumers.
The Federal Reserve is implementing new rule especially in a bid to strengthen the global financial institutions. According to the proposal, all banks that operate in the US will be able to go down smoothly without causing too much collateral damage to the public.
A task force charged with recommending rules for registering recreational drones or unmanned aerial vehicles convenes this Tuesday. The group composed of more than 20 people will be holding meetings until November 5.
Wal-Mart had applied to U.S. regulators for the permission to test drones for checking inventories, home delivery, and pickup. Rumors said the company's move is to compete with Amazon's drone delivery.
The European Commission ruled on Wednesday that Starbucks Corp and Fiat Chrysler Automobiles benefited from illegal tax deals with the Dutch and Luxembourg authorities, sending shock waves to MNCs who have been using such profit-shielding tax deals in the past.
The Financial Conduct Authority banned Weaving Capital (UK) Ltd. Founder Magnus Peterson from working in the financial industry as part of a closure in one of the biggest scandals in the country.
