Stocks

Biopharmaceutical company fined for misleading investors

A Colorado-based biopharmaceutical company has been penalized more than $20 million for misleading investors about the efficacy of a lung cancer drug under development before raising $300 million in a public stock offering.

Business Highlights

___ Trade war escalates as China announces tariffs on US imports BEIJING (AP) — China announces retaliatory tax increases on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals.