The word imbusineeciles, referro members of congress. But no testimony. The leader of turing chemicals refused to testify today. The man known as pharmas bad boy for raising the price of an older drug by 500 cited his fifth amendment right against selfrecrimination. But as meg reports from capitol hill he was anything but silent. Reporter representatives from valiant pharmaceuticals, fda, and the pharmacy benefits manager industry group, were all invited to testify today at a congressional hearing on drug pricing. But the star witness was the infamous martin shkreli. His former company, turing pharmaceuticals, gained notoriety for hiking the price of a 62yearold drug by more than 5,000 . Shkreli is separately facing federal charges of securities fraud. He managed to steal the show while not answering any questions. I intend to follow the advice of my counsel, not yours are i invoke my fifth amendment privilege against selfincrimination and decline to answer your question. On advice of
Plan. We see russia as a large, promising market. We wont change our mind. Theres more to be done in this market. And more warning signs out of china, investment, retail and factory data all disappointing in april with data hitting multiyear lows. Youre watching worldwide exchange, bringing you Business News from around the globe. And a warm welcome to tuesdays edition of worldwide exchange. Plenty to come through on the show today. Are you looking forward to it . Happy tuesday. Happy tuesday, everyone. Well get opecs latest report. Retail sales coming out of the u. S. As well. But before all of that we continue to look at m a on the astrazeneca pfizer story. Pfizer making its last push reiterating to uk jobs and r d if the proposed deal goes ahead. The ceos of pfizer and astrazeneca are due to appear before uk lawmakers in london very shortly. The unions make their way starting in 30 minutes time. Then pfizer ceo ian reed is in an an hour after astrazenecas ceo will appear. Katherine
Hello. Welcome to the pulse, live from bloombergs European Headquarters in london. I am mark barton. And i am caroline hyde. We begin with our top story. Pfizer said to plan a sweet and a sweet takeover bid for astrazeneca. Westminster is at with more on what we can expect. The countdown continues great the countdown continues. The countdown continues from that conversation we had earlier with a labour mp. Clearly, the ceos are going to face some hostile questions about what their intent is. Why are they doing this . Are they doing it for tax reasons . There is a different tax regime in the u. K. Versus the u. S. Or are they doing it because it makes sense for their investors, their boards him a their shareholders, and they want to grow the company here and create jobs . These are some of the questions that will be posed. The committee starts in about 15, 20 minutes, will go on throughout the afternoon. It is really a question for ian about whether or not he has any allies on the commi
In the meantime, four dozen people have been cleared at risk for ebola, or they will be today. They had all come in contact with Thomas Duncan, the man who died of the disease. Exposure is being blamed on current protocols. New guidelines are on the way for hospitals. Clearly, when you go into a hospital, having to intubate one of the things is going to be complete covering with no skin showing whatsoever. Thate dallas hospital treated Thomas Duncan says it followed cdc safety procedures. Shares of ibm are down more than 8 premarket. Ibm has been struggling to cope with a shift to cloud computing. The company says it will update projections in january. Earlier ibm says it would pay another companys takeover. Ibm paying global foundries 1. 5 to takeover three years the chipmaking unit. Apple paythe allows shoppers to buy products using their iphones. Apple has signed up banks and credit card issuers of such as mastercard and visa, and it will be going up against paypal. Apples reporting
I am mark barton. A warm welcome. Announce a new ceo. For more on the new leader at the second largest car company and the tough act he has to follow. Heres Caroline Hyde. Will be chief executive designate as soon as may 1. And talking over from adam mulally. Years mulallys junior. Some 25een at ford years. Since december 2012 he has been chief operating officer and he has shown his power to me his strength in turning around the american business. Nine years ago he became head of the north american unit. It was the albatross around the making ford. I it was loss and dragging the whole company down. More than a billion dollars in terms of profit. A measure of profitability but it is so much better than the rest of its competitors. Is prettyve percent stellar. Already he is with running the weekly business conversation. The weekly business review. It should have been obvious that he should be the man for the job. What about following in adam mulallys footsteps . 2006 he was brought in an