One mother spent a decade after her daughters’ deaths changing car-rental laws

Raechel and Jacqueline Houck had a five-hour drive from their mother’s Ojai home north to Santa Cruz. They wanted to see some friends along the way and Raechel had to work that evening, so the sisters hugged their family and, with Raechel behind the wheel, drove off in their rented PT Cruiser.

Raechel, 24, had...

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VW Names Kenneth Feinberg to Oversee Fund for Claims on Emissions Deception

Volkswagen has hired Kenneth R. Feinberg, a prominent specialist in compensation funds, to devise and administer a program to address claims related to vehicles that have been affected by the company’s admitted use of deceptive software to cheat on emissions tests.

Mr. Feinberg is a lawyer known for his work distributing payouts after 9/11, the...

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Drug approvals top 2014 high but R&D returns still struggle

LONDON (Reuters) - The number of new drugs approved in the United States this year has already topped last year's 18-year high, yet large pharmaceutical companies are still struggling to get a decent return on their research dollars.

In fact, returns on research and development (R&D) spending by the world’s top drugmakers have fallen...

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Merck fails to win FDA panel backing for Vytorin heart claim

(Reuters) - Merck & Co should not be allowed to claim that its cholesterol-lowering drug Vytorin reduces the risk of heart attacks and strokes in patients with coronary heart disease, an advisory committee to the U.S. Food and Drug Administration concluded on Monday.

The panel evaluated data from an 18,000-patient trial known as Improve-It...

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Boston Scientific recalls device after pieces broke off in patients

Boston Scientific (NYSE: BSX), the state’s largest medical device company, has launched a product recall following reports that parts of its medical device broke off and lodged within some patients.

In an announcement Wednesday evening, Marlborough-based Boston Scientific (NYSE: BSX) said the recall of the Chariot Guiding Sheath is voluntary and was enacted three weeks...

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