Biotech IPOs have gone from hot to cold.
Biotechnology stocks were among the most sought-after initial public offerings this year, with 38 through mid-November. That's the most to go public since 2000, according to Credit Suisse. But all five biotech offerings planned for the week of Nov. 18 were postponed. And a biotech debut on Tuesday priced at the low end of expectations.
Why the sudden freeze?
DETROIT - The holiday weekend was good to U.S. automakers, as November sales rose 9 per cent to beat strong numbers from a year ago.
Sales ran at an annual rate of 16.4 million cars and trucks last month, making it the best rate of the year according to Autodata Corp.
"Industry sales in November picked up after Thanksgiving, contributing to the best sales pace of the year," said Bill Fay, Toyota division group vice-president and general manager.
BEIJING, China - With British Prime Minister David Cameron in the country on an official visit, a Chinese state-run newspaper on Tuesday labeled Britain a fallen great power worthy now only as a destination for tourists and students.
The Global Times editorial appeared as Cameron emphasized the potential for increased trade and investment during a visit to the financial hub of Shanghai.
LONDON - Volkswagen turns off some employees' email 30 minutes after their shifts end. Goldman Sachs is urging junior staff to take weekends off. BMW is planning new rules that will keep workers from being contacted after hours.
BALI, Indonesia - Top trade officials began talks Tuesday that will either produce an eleventh hour deal that could boost the global economy by $1 trillion or possibly spell the end of the World Trade Organization's relevance as a forum for negotiations.
BERLIN - The most violent nations in the Middle East are perceived to be the region's most corrupt and are getting worse as political instability allows abuses to flourish, according to a survey released Tuesday by an international watchdog group.
LOS ANGELES, Calif. - Pay TV customers who are used to watching fewer ads on on-demand shows may have to put up with longer commercial breaks.
Comcast Corp., the nation's largest cable TV provider, says it is testing out a system with its NBCUniversal subsidiary to use full commercial loads on older episodes — while disabling fast-forwarding of ads — if consumers watch them within three days after a new episode airs.
TORONTO - BlackBerry's interim chief executive said Monday reports of the death of the company "are greatly exaggerated."
Former Sybase CEO John Chen said in a letter to customers that BlackBerry is returning to its roots, refocusing on delivering devices and services to business users.
Chen was brought in as the interim chief executive and executive chair after talks to sell the company collapsed last month.
NEW YORK, N.Y. - Amazon is working on a way to get packages to customers in 30 minutes or less — via self-guided drone.
Consider it the modern version of a pizza delivery boy, minus the awkward teenager.
Amazon.com Inc. says it's working on the so-called Prime Air unmanned aircraft project in its research and development labs. But the company admits it will take years to advance the technology and for the Federal Aviation Administration to create the necessary rules and regulations.
CAPE CANAVERAL, Fla. - NASA said Monday that the Hubble Space Telescope is the best bet for figuring out whether Comet ISON disintegrated during its brush with the sun last week.
A pair of solar observatories saw something emerge from around the sun following ISON's close approach on Thanksgiving Day. But scientists don't know whether the spot of light was merely the comet's shattered remains or what's left of its icy nucleus. Either way, by now, they say it may be just dust.