Category: Business

A pharmaceutical firm bets big on a cancer drug

WHEN Ken Frazier, chief executive of Merck, an American pharmaceutical giant, started his job in 2011, he had a hard decision to make. The firm had promising new drugs—such as Januvia, for diabetes, and Gardasil, a vaccine against cervical cancer. But the pharma industry was struggling with dismal returns on R&D and investors were questioning if companies were overspending on…

Chinese cities are competing to woo overseas entrepreneurs

The coffee’s on us WHEN Maria Veikhman, founder of SCORISTA, a Russian credit-scoring startup, was considering expansion abroad, China immediately came to mind. She believes the scope there is vast, for two-fifths of Chinese have no credit records. Ms Veikhman settled in Tianfu Software Park, a state-owned incubator in Chengdu, capital of Sichuan province where city authorities “offer almost everything…

World’s most powerful X-ray laser taking shape near Stanford

VIDEO: The world’s most powerful laser at the SLAC National Accelerator Laboratory lets researchers examine matter at an atomic level, allowing them to study chemical interactions. CLICK HERE if you are having trouble viewing the video or photos on your mobile device. MENLO PARK – A $1 billion project to create the world’s most powerful laser is quietly taking shape…

SpaceX tries again today for dawn launch of advanced Spanish satellite and fairing recovery

Start your day with the news you need from the Bay Area and beyond. Sign up for our new Morning Report weekday newsletter. SpaceX’s repeatedly-delayed eighth West Coast launch was expected to take to the skies at dawn today. Officials expected the launch to deliver a stunning show with the rocket-exhaust vapor catching the rising sun’s rays in clear conditions.…

The tyranny of credit scores

Margaret Thatcher was right. There is no such thing as society, or at least there isn’t anymore. Increasingly there is only “the economy.” As that ridiculous abstraction continues to subsume more and more areas of life — the family, the state, even the Church — that had hitherto enjoyed only a tertiary connection with modern commerce, it becomes more necessary…