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The maker of Wegovy and Ozempic is now Europe’s most valuable company

Published Fri, 01 Nov 2024 01:22:10 GMT

London (CNN) — Novo Nordisk has dethroned Bernard Arnault’s luxury goods giant LVMH as Europe’s most valuable company.Shares of the Danish drugmaker have soared 40% so far this year, boosted by an explosion in demand for its weight-loss drugs Wegovy and Ozempic.At the close of trading Monday, Novo Nordisk (NVO) had a market capitalization of 2.96 trillion Danish krone ($428 billion). LVMH’s market value was around $416 billion. The French firm — which sells Louis Vuitton handbags and Hennessy cognac — has been hurt by the slowing Chinese economy. Its stock has dropped 8% over the past six months, trimming this year’s gains to 12%.Sales of Wegovy and Ozempic have skyrocketed in recent months. Ozempic is a drug developed to treat type 2 diabetes that contains the same active ingredient as Wegovy, and which some physicians have prescribed to patients to help them lose weight.Novo Nordisk notched another gain Monday when the company announced that...

Report fails to determine whether BPS employees of color are discriminatorily ‘pushed out’

Published Fri, 01 Nov 2024 01:22:10 GMT

A long-awaited report has failed to determine whether race plays a factor in which BPS employees are placed on leave and disciplined, lawyers told the school board.“Ultimately, based on a relatively small number of employees investigated — 37 in total — and the variety of misconduct alleged, we were unable to draw up a reliable conclusion as to whether and to what extent race factored into the paid-administrative-leave determinations or disciplinary outcomes,” said attorney Natashia Tidwell. “But we’re still able to make some observations and recommendation recommendations based on the data.”In August 2022, BPS received a internal complaint from an employee noting a significant number of BPS administrators of color who were placed on leave in the 2021-2022 school year and requesting an outside review to determine whether there was a pattern of discrimination within BPS investigation and disciplinary action processes.BPS hired the law firm Mi...

First-ever Del Mar Wine & Food Festival set to take over parts of San Diego County

Published Fri, 01 Nov 2024 01:22:10 GMT

SAN DIEGO -- Calling all foodies and wine aficionados! An inaugural culinary festival is set to take over North County this week, bringing together celebrity star power and delicious tastings.The first-ever Del Mar Wine & Food Festival will be taking place in the North County town from Sept. 6 to Sept. 11, featuring more than 20 events that champion the region's food scene and top chefs.Founded in partnership with sports icons Alex Morgan, Drew Brees and Rob Machado, festivalgoers will be able to embark on a culinary journey that "celebrates the soul of SoCal." From Styx to Coldplay: Can’t miss concerts in San Diego this September “San Diego is the next big food and drink scene,” San Diego Magazine co-owner Troy Johnson said of the event in a release. "It’s gonna be a rare and cool thing. Celebrating the city’s food and drink culture… and just the SoCal culture overall… with the help of friends.”Kicking things off on the first day of the festival will be an opening n...

Texas AG Ken Paxton arrives for start of impeachment trial on charges of corruption, bribery

Published Fri, 01 Nov 2024 01:22:10 GMT

AUSTIN, Texas (AP) — Texas Attorney General Ken Paxton faced the most serious threat to his troubled career Tuesday with the start of an impeachment trial that could permanently oust the embattled Republican from office after years of alleged corruption and scandal. The fate of Paxton, a 60-year-old Republican, is in the hands of GOP senators with whom he served before winning a statewide race to take charge of the attorney general’s office in 2015.A handful of Paxton supporters in red shirts began lining up outside the Texas Capitol before sunrise, waiting for state police to open the doors so they could witness Texas’ first impeachment trial in nearly half a century. Shortly before the trial got underway, Paxton entered the Senate chamber and spoke with one of his defense attorneys.“It is the Austin swamp,” said Kaci Sisk, who heads a group of conservative activists near San Antonio who have been looking to line up primary opponents to Republicans who have supported Pa...

Stock market today: Wall Street is off to downbeat start following two weeks of gains

Published Fri, 01 Nov 2024 01:22:10 GMT

NEW YORK (AP) — Stocks are off to a weak start on Wall Street as traders return from a long holiday weekend. The S&P 500 was off 0.3% in the early going Tuesday. The index is coming off its second weekly gain. The Dow slipped 63 points, or 0.2%, and the Nasdaq fell 0.3%. Markets are looking ahead to a quieter week with company earnings reports winding down and just a trickle of government economic reports expected, including data on manufacturing, layoffs and trade. DocuSign, GameStop, Dave & Buster’s and Kroger are set to report their most recent quarterly financial results this week.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street pointed modestly lower Tuesday in a shortened trading week following the Labor Day holiday.Futures for the Dow Jones industrials were essentially flat andthe S&P 500 dipped a little more than 0.1%.Markets are looking ahead to a quieter week with earnings season winding down and just a trickle of government economic...

Fall Movie Preview: Hollywood readies for a season with stars on the sidelines

Published Fri, 01 Nov 2024 01:22:10 GMT

NEW YORK (AP) — Hollywood is at a standstill. Actors and screenwriters are months into a dual strike. Film sets are dark. But the movies are still coming — or, at least, most of them. Even if that means some potentially solitary red-carpet walks.“I’m hoping I’m not promoting the movie by myself,” says Nia DaCosta, director of the upcoming Marvel movie “The Marvels” (Nov. 10). “No one’s there to see me, either. They’re going to be like, ‘Where’s Brie Larson?’”Though the ongoing actors and screenwriters strikes are casting a pall over the fall movie season and prompting some films to postpone, a parade of awards contenders and autumn blockbusters are on the way, nevertheless.The fall has long been the preferred domain of filmmakers and auteurs, but this year that’s doubly so. With cast members largely prevented from promotion duties, directors — whether helming an Oscar shoo-in or superhero blockbuster — are carrying the load, albeit very reluctantly.“I think we’re now in a new ...

Saudi Arabia plans to extend 1 million barrel a day oil cut through the end of the year

Published Fri, 01 Nov 2024 01:22:10 GMT

DUBAI, United Arab Emirates (AP) — Saudi Arabia said Tuesday it will extend its voluntary production cut of 1 million barrels of oil a day through the end of the year. The announcement, carried by the state-run Saudi Press Agency, comes as the kingdom has been unilaterally cutting its output to try and boost sluggish crude oil prices. The announcement said Saudi Arabia still will monitor the market and could take further action if necessary. “This additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” the Saudi Press Agency report said, citing an unnamed Energy Ministry official. Benchmark Brent crude traded Tuesday at $90 a barrel immediately after the announcement.The Associated Press

Pier collapses into lake on Wisconsin college campus, 1 hospitalized, 20 others slightly injured

Published Fri, 01 Nov 2024 01:22:10 GMT

MADISON, Wis. (AP) — A pier filled with people celebrating Labor Day on the University of Wisconsin-Madison campus partially collapsed into a lake, leaving one person hospitalized and slightly injuring about 20 others, officials said.Video shot from Lake Mendota’s shoreline shows that a part of the metal pier just east of the Union Terrace’s campus stage collapsed Monday afternoon, sending some people falling into the water.The Madison Fire Department said one person was taken to a hospital with non-life-threatening injuries and five others were treated at the scene for minor injuries. UW-Madison Police Officer Jeff Kirchman told the Wisconsin State Journal that “20 or so” had minor injuries, in addition to the person who was hospitalized.“There were way too many kids on the piers. They were packed. There was no warning. All of a sudden it went down and people were in the water,” said Debra Drewek, a retired nurse who was taking pictures at the terrace when the col...

Nonprofits Candid and Council on Foundations make a rare deal the way corporations do

Published Fri, 01 Nov 2024 01:22:10 GMT

NEW YORK (AP) — It’s a transaction that would be commonplace for a corporation or a sports team, but it’s the kind of deal that is practically unheard of in the nonprofit sector.The philanthropy research organization Candid will send control of its CF Insights website and the staff that gathered information about community foundations to the Council on Foundations, the association of nearly 900 nonprofit members, on Friday.Candid CEO Ann Mei Chang says the shift will allow her nonprofit to focus more sharply on priority areas – including diversity, transparency and effectiveness in the sector – while providing its CF Insights information a larger audience and the potential to expand at the Council on Foundations.“That was our No. 1 criteria about whether to move forward with this,” Chang said. “We believe more community foundations would be able to benefit from this tool at the Council than from Candid.”Council on Foundations CEO Kathleen Enright said community foundations are uniqu...

14 migrants and the body of a man are found after their dinghy sank near a small Greek island

Published Fri, 01 Nov 2024 01:22:10 GMT

ATHENS, Greece (AP) — Greece’s coast guard found a group of 14 migrants and the body of a man on the shore of a tiny island in the eastern Aegean Sea on Tuesday morning, authorities said. The five men, six women and three children were found on the remote island of Farmakonisi, along with the body of one man. It was not immediately clear how he died.The group had apparently arrived on the island from the Turkish coast in a dinghy that sank, the coast guard said. There were no reports of anyone missing. The migrants and the deceased man were taken to the nearby island of Leros, the coast guard added. There has been a rise in sea crossings to European Union member Greece by people fleeing conflict and poverty in the Middle East, Africa and Asia and seeking a better life in the wealthy 27-country bloc.Later Tuesday, the coast guard said another three boats carrying more than 100 people in all arrived on the islands of Lesbos, Samos and Chios, which lie near the Turkish coast. One...