(Reuters) - Drugmaker KaloBios Pharmaceuticals Inc said it removed Martin Shkreli as chief executive on Dec. 17, the day he was arrested on charges of a securities fraud. Shkreli, who stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, also resigned from KaloBios' board of directors. Shkreli was arrested for engaging in what...

Trading volumes are expected to be relatively light this week, with stock markets operating a shortened session on Thursday and closing on Friday for Christmas. U.S. stock indexes slumped on Thursday and Friday as weak crude prices dampened the optimism sparked by the first Federal Reserve interest rate hike in nearly a decade. At 11:03 a.m. ET...

Swedish mobile telecom gear maker Ericsson said it had signed a patent license deal with Apple Inc over technology that helps smartphones and tablets connect to mobile networks, sending its shares up much as 8 percent. The deal ends a year-long dispute with Apple, one of the biggest legal battles in mobile technology and Ericson said it would pave...

U.S. auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker's safety lapses. The fine is the second paid by BMW since 2012 and the latest in a series of civil penalties imposed on major automakers by the National Highway Traffic Safety Administration (NHTSA). Under the...

By Catherine Ngai NEW YORK (Reuters) - Brent crude oil prices hit their lowest in more than 11 years on Monday, while U.S. crude flirted with seven-year lows on more signs that swelling global supply looked set to outpace tepid demand again next year. Global oil production is running close to record highs and, with more barrels poised to enter the...

SYDNEY/SINGAPORE (Reuters) - Asian share markets advanced on Monday after a lackluster start, defying a dive on Wall Street, and the price of Brent crude threatened to plumb lows last seen in 2004 on renewed worries over a global oil glut. Brent crude prices , which touched a seven-year low of $36.32 overnight, were trading at $36.47 at 0245 GMT as...

Brent crude prices fell on Monday to their lowest since 2008 on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States. U.S. West Texas Intermediate (WTI) futures were down 20 cents at $34.53 per barrel and close to last Friday's 2015...

Volkswagen plans to limit the time staff can remain in certain roles, its supervisory board chairman told a German weekly, in a step to improve oversight at the German carmaker. VW said in September it had cheated U.S. emissions tests and installed software capable of deceiving regulators, wiping billions of euros off its market value and forcing...

By Edith Honan NAIROBI (Reuters) - The World Trade Organization reached deals on agricultural export subsidies, food aid and other issues on Saturday, capping a ministerial conference in the Kenyan capital where rich and poor countries had been split over the path of trade reform. Members said the Nairobi deal had drawn a line under years of...

By Frank McGurty NEW YORK (Reuters) - Martin Shkreli, the pharmaceuticals entrepreneur vilified for jacking up the price of a life-saving AIDS drug, said on Saturday that unrelated securities fraud allegations that resulted in his arrest this week were "baseless and without merit." Federal prosecutors have alleged that Shkreli was running...

Federal Reserve forecasts pointing to four interest rate hikes in 2016 show what the U.S. central bank means when it says it anticipates raising rates at a "gradual pace," Richmond Fed President Jeffrey Lacker said on Friday.

(Reuters) - Martin Shkreli, the poster boy for prescription drug price increases who was arrested for securities fraud this week, has stepped down from his post as chief executive officer of Turing Pharmaceuticals Inc, the company said on Friday. Shkreli was replaced by Turing Chairman Ron Tilles, who said in a statement that the company was...

By David Shepardson WASHINGTON (Reuters) - The California Air Resources Board said on Friday it was extending a deadline to approve or reject a diesel emissions repair plan submitted by Volkswagen AG (VOWG_p.DE) for nearly 500,000 2.0 liter vehicles until Jan. 14. On Nov. 20, VW submitted a repair plan to the Environmental Protection Agency and...

The S&P and Dow had their worst two-day performance since Sept. 1, while indexes posted losses for the week. "It's a confluence of all the factors: oil prices continuing to run down, the Chinese trying to counteract the dollar and everyone is digesting, globally, what the Fed's announcement means for emerging markets and...

Volatility was slightly higher than usual on account of "quadruple witching," the expiry of options on stocks and indexes as well as futures on indexes and single stocks. There's no new news that's any kind of substance that's driving this," said Jeff Powell, managing partner of Polaris Wealth Advisors in California....

(Reuters) - Privately held drugmaker Turing Pharmaceuticals Inc is close to replacing Chief Executive Martin Shkreli, the Wall street Journal reported on Friday, a day after the FBI arrested him on charges of securities fraud.

By Ross Finley, Silvio Cascione and Rahul Karunakar LONDON/BRASILIA/BENGALURU (Reuters) - The world economy may be set for another year like 2015, with modest growth in developed economies offsetting persistent weakness elsewhere but generating very little inflation and keeping interest rates low. The U.S. Federal Reserve's long-awaited rise...

By Nate Raymond and David Ingram NEW YORK (Reuters) - Martin Shkreli, the boyish pharmaceutical entrepreneur who caused a public uproar after he drastically raised the price of a life-saving prescription drug, was arrested on Thursday for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund and a pharmaceutical...

By Nichola Saminather and Lisa Twaronite SINGAPORE/TOKYO (Reuters) - Asian shares took their cue from Wall Street and slipped on Friday, and Japanese stocks returned to negative territory after briefly jumping on the central bank's statement that it would expand parts of its stimulus program. MSCI's broadest index of Asia-Pacific shares...

By Aaron Sheldrick TOKYO (Reuters) - Crude futures were mixed in Asian trading on Friday as fresh signs of inventory building and the Federal Reserves rate hike this week kept prices under pressure amid a global glut of oil that shows no sign of abating. U.S. crude's West Texas Intermediate (WTI) futures were down 13 cents at $34.82 a barrel...