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The saga of the "pharma bro" appears to have ended with his tearful court sentencing. Martin Shkreli, who first gained notoriety when he jacked up the price of a lifesaving drug by 5,000 percent, will now serve time for securities fraud and conspiracy charges. But while he’ll be going away, America’s problem with drug pricing isn’t.
There's still room for growth in America's job market. America’s jobs situation isn’t as tight as previously thought. Employers added the most workers since mid-2016, the participation rate rose by the most in almost eight years, and the wage gains that spooked markets last month slowed, new government data out Friday showed. As one economist said: “The bottom line is the labor market remains rock solid.”
Martin Shkreli has been sentenced to seven years in prison. The former pharmaceutical executive was convicted last year of lying to investors in his hedge funds and manipulating shares in Retrophin, a biotech company he founded. The sentencing judge said his actions were "extremely serious" and recounted how he boasted once of threatening an investor and his family.
Trump’s bet on Kim Jong Un shatters decades of orthodoxy. There’s no playbook for what a U.S. president should do when meeting with a North Korean leader; it’s never happened before. In accepting Kim’s invitation, Trump shows an unerring confidence in getting the better end of a negotiation. But so much could go wrong.
Lloyd Blankfein says the report of his exit may be premature. The Goldman Sachs CEO pushed back Friday against a Wall Street Journal report that said he plans to step down as soon as the end of this year. “I feel like Huck Finn listening to his own eulogy,” Blankfein tweeted.
Amazon’s checking-account push shows its next target—swipe fees. Jeff Bezos changed the way America shops. Now he wants to change how it pays for things. Amazon’s foray into financial service could disrupt the decades-old card payments system, a move that some say could save the retailer $250 million a year in fees.
The capital of America’s gun industry hates guns. Famously liberal Massachusetts, which has some of the country's strictest gun-control laws and the lowest shooting-death rate, also accounts for a quarter of the 11.9 million guns made each year. A visit to the city of Springfield, the industry's birthplace, highlights America’s struggle over firearms.
China’s war on pollution will change the world. The country’s new green policies are so hard-hitting and extensive that they are transforming everything from global electric-vehicle demand to commodities markets. The turnaround isn’t just to improve air quality. China also has stopped accepting shiploads of other countries’ plastic and paper trash.