Genentec, OSI Pharma Owe $67Million as False Claim Settlement for Lung Cancer Treatment Tarceva

South San Francisco based Genentech and OSI Pharmaceuticals based in Farmingdale, New York owe $67 million as a part of federal court settlement related to allegations over misleading claims which the companies made regarding a drug used for treating cancer.

OSI Pharmaceuticals, a part of Astellas Pharma and Genentech, a part of the Roche Group were taken to court after an ex-employee of Genentech alleged that the company gave misleading information to medical professionals as well as doctors.

New Report says Millionaires will Control Fifty Two Percent of World’s Wealth by 2020

A new report released on Tuesday states that millionaires will have control greater than half of the total wealth in the world by 2020.

A Boston Consulting Group Global Wealth report showed, last year the number of millionaires grew six percent globally to 18.5 million. Though there was an increase in the number of millionaires but it marked an eleven percent slowdown from the growth noted in 2014.

The report says, at present, millionaires have a control over forty seven percent of the total global wealth and is estimated to control fifty two percent by 2020.

Shares of VeriFone Systems Drop after Company Misses Expectations in Q2 and Gives a Downbeat Outlook

San Jose, California based VeriFone Systems saw its shares drop during the after hour trading to $21.98 or by 22.14percent on Tuesday following a weak guidance and a quarterly result that missed expectations.

 After the market closed, the electronic payments company reported its quarterly earnings of 47 cents a share missing the analysts' expectation of 52 cents a share. The quarterly revenue was reported as $526 million even that figure failed to keep up with analysts' estimates of $530.1 million.

Maori leader Sir Graham Latimer dies at the age of 90

Sir Graham Latimer, a prominent Maori leader and former National vice president, has passed away at the age of 90 years. Sir Latimerrecently suffered from Parkinson's disease.

Sir Latimer worked to advance Maori rights and address historic grievances in the country and achieved great success during his leadership. He worked with the New Zealand Maori Council for nearly 40 years and most of the time worked as the institution's president. He was also one of the three members of the Waitangi Tribunal.

Labour blames fewer police officials for increase in road accidents

The Labour has blamed few police officials on the roads due to funding cuts as a result for increase in the number of road accidents.

Eleven people died on the roads between Friday evening and Tuesday morning making it the highest Queen's Birthday weekend road toll since 1989. Napier MP Stuart Nash, Labour police spokesperson pointed out that the government has slashed road safety funding in the previous two years.

Plutonium from Japan Arrived in South Carolina, Trucked to the Savannah River Site

In spite of objections from Governor Nikki Haley, a shipment of deadly plutonium which is used as an ingredient in nuclear weapons arrived in South Carolina. The shipment from Japan which was carried in trucks to the Savannah River Site (SRS) near Aiken for storage will make the world safer says the government officials. It will be in safe hands and will prevent radioactive material being available to terrorists and rogue states.

Marwan Fawaz Nest’s New CEO has Selling Experience; Will Alphabet use His Skills to sell Nest Labs in Future?

Tony Fadell, who has a significant hand in developing hot selling products like the iPod and iPhone, stepped down as the CEO of Nest Labs, a division of Google's parent, Alphabet.

The problems with Fadell rose from the way how he managed Nest. There has been no new product added by the company which has created excitement in the market in recent times, since Google's purchase of Next in 2014 for $3.2 billion deal.

Motorbike rider dies after crashing with car on Harris Stin Huntly

A motorbike rider, who was travelling north-bound on Harris St in Huntly, has died after crashing into a car driving to the other side.

The police officials arrived at the scene eon Harris St, west of the Waikato River at 3pm on Monday. The officials said that the car driver was not hurt in the accident. The police officials have blocked the roads on Harris St and Glen Murray Rd and have placed diversions.

One man arrested following reports of shooting in Napier

Police officials have arrested one man after reports emerged of a shooting incidence at a property located on McGrath Street in Napier.

The incidence occurred on one side of the McGrath Street where a man was seen with blood on his face and a bandage round his head. Officials confirmed that a man was shot and a firearm was present. Neighbours had noted yelling and a "big drama" coming from the house on Monday before the police arrived at the scene.