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Drugmaker Bristol-Myers Squibb announced Thursday a billion deal to buy Celgene, in one of the biggest mergers in pharmaceutical industry history.The deal, which still needs the approval of shareholders and regulators, will be paid with a combination of stock and cash. Bristol-Myers is the result of a 1989 merger of two companies that traced their roots back to the 19th century, and is the eighth largest US drugmaker, with annual revenue of .8 billion in 2017. Celgene is the ninth largest with revenue of billion.The combined company could become the fourth largest pharmaceutical company in the United States.Shares of Bristol-Myers ( 663

Economists are split on whether there will be a recession in the next few years.Many of them say if there is one, it won't be driven by the housing market like last time.However, the housing market still plays a key role in a healthy economy, so experts are watching a few things closely, including supply and demand and home values.Experts predict older Americans will flood the market by putting 21 million homes up for sale over the next 20 years.But some economists say market forces could decimate demand by then.And with low demand, sellers will be forced to lower their prices in order to sell.Experts say the whole process could create a housing bubble, and then, burst it.Experts are also watching subprime lending. That’s when lenders let people with bad credit borrow money.Critics argue those loans are more likely to go into default, especially if there’s any hiccup in the economy.Subprime lending is much lower today than it was before the last housing crisis, but some experts say those rates are still too high.Experts do say new lending standards could prevent mortgages that helped create the crisis. 1131

Clean-up efforts continue in the California desert after two earthquakes hit in less than two days.In Ridgecrest, a city about three hours east of Los Angeles, the Spirit gas station is out big bucks. The owner says the earthquakes cost him about a 0,000 in lost products and damages.As some look to rebuild, others are looking to relocate.“As soon as we get a trailer, we are driving out the door,” says Ridecrest resident George Berz. After the recent earthquakes, Berz and his family say living in Ridgecrest isn’t worth the risk. Now, they’re packing up and moving to Seattle. Before they go, however, they shared surveillance video capturing the terrifying moments when the tremors hit.“The ground is going up and down, left and right,” Berz says. “I was losing my footing as I was running.”It’s been days since the 6.4 and 7.1-magnitude earthquakes hit, and the city is still feeling the impact. Several city street lights are still out and people need help just getting the essentials. Cheri Watkins came to the American Red Cross Shelter for water. The California native has lived through many earthquakes and now says enough is enough. “The first one on the fourth didn’t scare me,” she says. “But now, I’m tired of the shaking.” For some, those aftershocks have created a sense of insecurity. After the earthquakes, Kristen Honeywell moved her family outside of her house and into these tents on the front yard. “I think it’s just a security in a way,” she says. 1488

Despite outbreaks of flu, tuberculosis and chicken pox, US Customs and Border Protection refuses to tell the public how many migrants in detention facilities have contagious diseases.Doctors have long been concerned that these congested settings are breeding grounds for serious illnesses."They create facilities that encourage the spread of infectious agents," said 379

Celebration and pride turned into tragedy for a small city in Alabama after gunfire erupted during a high school graduation party.One person was killed and eight others were wounded at a community center in Atmore, near the Florida border, early Saturday.Witnesses say a fight broke out between two women during a graduation party for Escambia County High School's seniors. As people were trying to separate the two women, police said, gunshots were fired inside that hit several people.Atmore Police Chief Chuck Brooks told CNN officers responded to a 911 call for shots fired at the community center around 2 a.m. Saturday. Once officers got to the scene, shots were still being fired and police found one man dead in the center's cafeteria. The shooting was at a former middle school transformed into a community center, police said.The eight wounded people were taken to a local hospital for treatment.The suspects fled the scene and are still at large, Brooks said.The high school's principal, Dennis Fuqua, said in a statement Saturday the community "felt the pangs of tragedy due to the acts of violence that have left several of our past and present students injured.""It is unfortunate that the event at the community center has tainted the success our seniors and football team felt, but we love our Blue Devil Family and will continue to pray for wisdom and healing," Fuqua said. 1402

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