Raonic and Halep withdraw from Rio tennis over Zika

Wimbledon - All England Lawn Tennis & Croquet ClubWimbledon finalist Milos Raonic and women&;s world number five Simona Halep of Romania have pulled out from next month&039;s Rio Olympics due to fears over the Zika virus. The big-serving Raonic, who lost to Andy Murray in the men&039;s championship match at the All England Club on Sunday, was the first tennis player to pull out of the Aug 5-21 Olympics due to concerns over the mosquito-borne Zika virus.

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Herbalife to pay $200 million to FTC to avoid pyramid scheme label

An Herbalife logo is shown on a poster at a clinic in the Mission District in San FranciscoHerbalife Ltd said it would settle with the U.S. Federal Trade Commission for $200 million to avoid being labeled a pyramid scheme, a blow to hedge fund manager Bill Ackman who for years has been betting against the dietary supplements maker. Herbalife&;s shares were up 8 percent at $64.08 in premarket trading on Friday. Herbalife also said its board had cleared the way for billionaire investor Carl Icahn boost his stake in the company to up to 35 percent from a current 18.3 percent.

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Valeant says ex-CEO Pearson remains a significant shareholder

Pearson testifies about price spikes in decades-old pharmaceuticals before a hearing of the U.S. Senate Special Committee on Aging on Capitol Hill in Washington, U.S.Pearson, who was replaced by Joseph Papa in May, still holds more than 3.5 million shares – valued at more than $75 million based on Wednesday&;s close of $21.62. "While I trimmed my ownership position for personal reasons, I plan on holding my remaining shares until the company recovers and returns to being traded on fundamentals," Pearson said in a statement. Valeant said Pearson exercised options to sell about 4.4 million shares apart from selling about 411,000 shares in June and July.

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