WMT - China's Response To Shield Economy From Real Estate Storm Biden Targets Cancer Diabetes Drugs In Controversial Medicare Price Battle Google Collaborates With Nvidia In AI Expansion: Today's Top Stories | Benzinga

August, 29 2023 02:06 PM Walmart Inc.

Bloomberg

China is pulling out all the stops in response to the brewing storm within its real estate sector, aiming to prevent the cascading impact from reaching other sectors and economies.
On a recent note, the world's second-largest economy has issued a directive to prominent state-owned banks, mandating substantial reductions in bank deposit and mortgage rates.
The report highlights the insufficient domestic demand and challenges confronting certain businesses, indicating a necessity to stimulate private investments via focused policies.

Benzinga

The Centers for Medicare and Medicaid Services unveiled the first ten drugs subject to price negotiations under President Joe Biden's Inflation Reduction Act.
The negotiated prices for the ten therapies will take effect on January 1, 2026, according to revised guidance published by CMS.
October 2 is the deadline for companies of drugs selected for the Negotiation Program to submit manufacturer-specific data to CMS to consider in negotiating a maximum fair price.

3M Co (NYSE: MMM) confirmed reaching an agreement with the court-appointed negotiating plaintiffs' counsel to resolve the Combat Arms Earplug litigation against it and Aearo Technologies.
Under the agreement, 3M will contribute $6.0 billion between 2023 and 2029, with $5 billion in cash and $1 billion in stock.

Catalent Inc (NYSE: CTLT), valued at around $8 billion, has finalized a deal with activist investor Elliott Investment Management.
Catalent's board has also established a new Strategic and Operational Review Committee to review the company's business, strategy, operations, and capital allocation priorities.
Catalent reported Q4 adjusted EPS of $0.09, missing the consensus of $0.10, with sales of $1.07 billion, down 17% Y/Y, slightly above the consensus of $1.05 billion.
The company forecasts FY24 sales of $4.30 billion-$4.50 billion versus the consensus ...