Business Briefs – November 8, 2017

No One Is Immune From Hacks, Says Former Yahoo CEO

WASHINGTON (AP) – Former Yahoo CEO Marissa Mayer tells lawmakers that the threat from state-sponsored hackers has changed the playing field so dramatically that even the best-defended companies can fall victim. Mayer is joining former and current Equifax CEOs in testifying before a Senate committee examining recent data breaches that affected millions of people. In Yahoo’s case, stolen information for billions of users included names, email addresses, phone numbers, birthdates and security questions and answers.

Tencent Buys 12 Percent Stake in Snap

NEW YORK (AP) — The Chinese internet company Tencent has acquired a 12 percent stake in Snap, with the social media company struggling to boost user growth. Tencent runs online payment platforms and games. Earlier this year, it bought a 5 percent stake in Tesla Inc. Snap Inc. is the parent company of Snapchat, a camera app that lets people send short videos and images.

Panera Founder to Step Down as CEO; Company Buys Au Bon Pain

NEW YORK (AP) – Panera Bread said founder Ron Shaich is stepping down as CEO and the company will buy Au Bon Pain — bringing together two chains Shaich helped build. The companies did not disclose on Wednesday how much Panera was paying for Au Bon Pain. Shaich will be replaced as CEO Jan. 1 by Blaine Hurst, who oversees Panera’s restaurants. Shaich will stay on as Panera’s chairman, and will continue to work on the chain’s strategy and future acquisitions.

As Trump Arrives, China Reports Narrower Surplus With US

BEIJING (AP) – As President Donald Trump arrives in Beijing with trade high on his agenda, China is reporting that its politically volatile trade surplus with the United States narrowed in October. Trump has complained about the size of the U.S. trade deficit with China and was due to hold talks with Chinese President Xi Jinping.

FDA OKs Drug to Block Infection After Marrow Transplant

TRENTON, N.J. (AP) – U.S. regulators have approved the first drug to prevent life-threatening infections in adults after a bone marrow transplant.

The Food and Drug Administration on Wednesday approved sales of Merck and Co.‘s Prevymix to prevent infections with cytomegalovirus, a common virus. It doesn’t sicken most people, but strikes at least half of transplant patients, who are particularly vulnerable to infection. The virus can damage the eyes, lungs and other organs, trigger pneumonia and even kill.

Kenilworth, New Jersey-based Merck says the drug will cost $195 to $270 per day for 100 days.

Each year, about 8,500 Americans receive transplants of blood-forming cells from bone marrow to treat blood cancers or other blood disorders. Currently, they get antiviral therapy if they develop an infection, rather than a preventive treatment.

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