BUSINESS DIGEST || Business class for entrepreneurs is today

Business workshop

YOUNGSTOWN

The Greater Warren-Youngstown Urban League and the Ohio Development Service Agency, through its Minority Business Assistance Center, in conjunction with the Mahoning Valley Economic Development Corp. will provide a free business class and workshop, “Establish and Grow: Legal Advice for the Small Business Owner” for existing and budding entrepreneurs from 5:30 to 7:30 p.m. today at the Public Library of Youngstown & Mahoning County, 305 Wick Ave.

The event will assist business owners in developing and understanding the business world, and to discuss ideas on how to increase the current market share through applying business principles to daily operations and planning cycles.

Give Hope campaign raises $137,000

GRAND RAPIDS, MICH.

Family Christian, the world’s largest Christian-focused retailer, through its “Give Hope” Campaign has raised more than $137,000 to help individuals in need.

The “Give Hope” campaign launched late last year with the goal of providing education, food and water to those without proper access.

Key partnerships include: Back2Back Ministries: $25,532 will provide orphan care in Monterrey Mexico; Pray America: $69,923 will provide famine relief to feed more than 9,000 individuals for up to 40 days; and World Vision: $42,387 will provide clean water for one year to more than 11,500 people.

Genentech, OSI to pay $67M over drug allegations

SAN FRANCISCO

Federal prosecutors in San Francisco say Genentech and OSI Pharmaceuticals have agreed to pay $67 million to settle allegations they misled doctors about the effectiveness of a cancer drug.

The U.S. attorney’s office in Northern California announced the settlement Monday. It came in a whistleblower lawsuit over the drug Tarceva.

The pharmaceutical companies were accused of making misleading statements about Tarceva between January 2006 and December 2011.

According to a lawsuit, there was little evidence the drug was effective to treat certain lung cancer patients unless they never smoked or had a particular mutation.

Neither company acknowledged wrongdoing

US T-bill rates fall

WASHINGTON

Interest rates on short-term Treasury bills fell in Monday’s auction to their lowest levels in three weeks.

The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.285 percent, down from 0.340 percent last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.430 percent, down from 0.475 percent last week.

The three-month rate was the lowest since those bills averaged 0.275 percent on May 16. The six-month rate was the lowest since those bills averaged 0.370 percent, also on May 16.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0.67 percent last week from 0.68 percent the previous week.

Staff/wire reports