MoneyWatch

Pfizer will spend $43 billion to buy Seagen and deepen its reach into treating cancer. The pharmaceutical giant said Monday that it will pay $229 in cash for each Seagen share. Bothell, Washington-based Seagen Inc. is a biotech drug developer that specializes in antibody-drug conjugate, or ADC, technology. Its key …

A federal judge showed growing impatience Thursday with FTX founder Sam Bankman-Fried’s use of the internet while on bail, suggesting that incarceration might eventually be the most effective way to prevent him from communicating on electronic devices in ways that can’t be traced. Judge Lewis A. Kaplan did not immediately …

Yahoo plans to cut about 20% of its workforce, or roughly 1,700 jobs, over the next year, as the technology industry continues to shed employees ahead of a potential economic slump later this year. Of that number, the internet company will cut 1,000 jobs starting this week, Yahoo confirmed with …

Federal regulators issued three safety violations to Amazon this week, saying workers at its warehouses in three states are spending too many hours repeatedly lifting heavy packages. The warehouses in Aurora, Colorado; Nampa, Idaho; and Castleton, New York exposed employees to a “high risk” of lower back injuries and other musculoskeletal disorders, …

The Federal Reserve is raising its benchmark interest rate a quarter of a percentage point, officials with the central bank said on Wednesday, its eighth consecutive hike as policy makers try to subdue inflation. The latest increase in the federal funds rate — what banks charge each other for short-term …

Tesla on Wednesday posted record net income in the fourth quarter of last year as it predicted that additional software-related profits will keep its margins higher than any other automaker. The Austin, Texas, maker of electric vehicles and solar panels said it made $3.69 billion in profits from October through …

More than 200 millionaires say they have a message for the corporate executives and billionaires attending the World Economic Forum in Davos this week: “Tax the ultra rich.” The group, which includes actor Mark Ruffalo and Disney heir Abigail Disney, argues that the rich aren’t paying their fair share, allowing …

Former McDonald’s CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of his firing by the burger giant in November 2019. Easterbrook was ousted for engaging in an inappropriate personal relationship with a McDonald’s employee in violation of company …

A Nebraska company on Friday expanded a recall of alfalfa sprouts after 15 cases of salmonella were linked to the food. SunSprouts Enterprises doubled its recall that was first announced Thursday, Nebraska health officials said. The 1,406 pounds (638 kilograms) of raw sprouts was distributed in 4-ounce and 2.5-pound (113-gram …

Stocks rose on Wall Street Wednesday, lifting major indexes into the green for the week as investors were cheered by signs that consumers remain resilient as well as strong corporate earnings reports. The S&P 500 rose 1.5%, while the Dow Jones Industrial Average rose 1.6%. The tech-heavy Nasdaq rose 1.5%. …