Merck’s Covid Treatment Pill Wins Blessing of F.D.A. Panel

In a clinical trial, molnupiravir was found to reduce by 30 percent the risk of hospitalization or death when given to high-risk, unvaccinated volunteers within five days after they started showing symptoms. It appears to be substantially less effective than Pfizer’s pill, which was found to reduce that risk by 89 percent. Monoclonal antibody treatments …

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Janet Yellen still supports a plan to make banks give the I.R.S. new customer data.

WASHINGTON — Treasury Secretary Janet L. Yellen said on Tuesday that she still supported an embattled proposal that would require banks to turn over additional information about their customers’ accounts to the Internal Revenue Service, arguing that the proposal would help ensure that the wealthy were not dodging taxes. The bank reporting idea had been …

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Lululemon sues Peloton over patent infringement.

The athletic apparel retailer Lululemon filed a lawsuit against the fitness company Peloton on Monday, accusing it of patent infringement over the designs of a new line of leggings and sports bras. The lawsuit, filed in U.S. District Court for the Central District of California, accuses Peloton of trade dress infringement, false designation of origin …

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Eurozone inflation hits a record high of 4.9 percent.

ImageA supermarket in Ahlen, Germany. The reopening of economies from lockdown has caused prices for goods and services to climb.Credit…Ina Fassbender/Agence France-Presse — Getty Images Inflation soared to a record high in Europe in November as a continued upward climb in energy costs pushed prices skyward, data showed on Tuesday. Annual inflation in the eurozone …

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