Category: Reuters
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US FDA flags dosing risks from compounded versions of Novo’s weight-loss drug By Reuters
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(Reuters) – The U.S. Food and Drug Administration on Friday warned patients and doctors about dosing errors linked to combination versions of Novo Nordisk’s weight-loss and diabetes drugs. The health regulator said it had received reports of adverse events, some requiring hospitalization, that may have been linked to overdoses caused…
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USDOJ tells court to reject TikTok challenge to crackdown law By Reuters
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By David Shepardson The U.S. Justice Department late Friday asked a U.S. appeals court to dismiss legal challenges to a law requiring Chinese company ByteDance to divest TikTok’s U.S. assets by Jan. 19 or face a ban. “The serious national security threat posed by TikTok is real,” the department said.…
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US union and Apple reach tentative labor agreement By Reuters
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The International Association of Automated Workers’ Alliance of Retail Employees and Aerospace and Aviation Workers reached a tentative agreement with tech giant Apple Inc on Friday on improved work-life balance, wage increases and job security. Workers at Apple’s retail store in Towson, Maryland, are scheduled to vote on the interim…
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Debut of Bill Ackman’s new fund delayed but expected to proceed By Reuters
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By Svea Herbst Bayliss (Reuters) – The U.S. launch of billionaire investor Bill Ackman’s new Pershing Square USA fund has been delayed without giving a reason, the New York Stock Exchange said on Friday. The exchange said on its website late Friday that the initial public offering, which was expected…
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Debut of Bill Ackman’s new fund delayed but expected to proceed By Reuters
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By Svea Herbst Bayliss (Reuters) – The U.S. launch of billionaire investor Bill Ackman’s new Pershing Square USA fund has been delayed without giving a reason, the New York Stock Exchange said on Friday. The exchange said on its website late Friday that the initial public offering, which was expected…
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Blaze in Canadian tourist town still out of control but rain helping firefighters By Reuters
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By David Ljunggren OTTAWA (Reuters) – A massive wildfire that has destroyed about a third of the western Canadian tourist town of Jasper remains out of control but rain and cold weather are helping firefighters, authorities said on Friday. Jasper is located in the heart of Alberta’s mountainous Jasper National…
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US judge blocks latest version of labor department’s fiduciary rule By Reuters
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By Tom Hales WILMINGTON, Del. (Reuters) – A U.S. judge has blocked enforcement of a Labor Department rule that would have expanded the types of retirement advisers considered trustees, finding the rule arbitrary and in conflict with the law governing retirement plans. The rule was unveiled in April as the…
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Google to blame for slower YouTube speeds in Russia, says senior lawmaker By Reuters
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YouTube’s speed in Russia will drop sharply on desktop computers because of Google’s failure to update its equipment in Russia and its refusal to lift a ban on Russian media channels, a senior lawmaker close to the authorities said on Friday. Russia has criticized Alphabet Inc’s Google for removing YouTube…
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Spot work startup Timee shares pop 30% in Tokyo debut By Reuters
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TOKYO (Reuters) – Shares of Taimi, a startup that runs a platform that connects workers looking for side jobs with companies facing labor shortages, surged about 30 percent on Friday in its Tokyo stock market debut. The company’s shares opened at 1,850 yen, valuing the company at about $1.1 billion.…
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Spot work startup Timee shares pop 30% in Tokyo debut By Reuters
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TOKYO (Reuters) – Shares of Taimi, a startup that runs a platform that connects workers looking for side jobs with companies facing labor shortages, surged about 30 percent on Friday in its Tokyo stock market debut. The company’s shares opened at 1,850 yen, valuing the company at about $1.1 billion.…
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Canadian wildfire reaches Jasper, firefighters battle to protect oil pipeline By Reuters
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A wildfire reached the town of Jasper in the Canadian province of Alberta on Wednesday, authorities said, one of hundreds of blazes sweeping across the western provinces of Alberta and British Columbia, as firefighters struggle to save key facilities such as the Trans Mountain pipeline. Wildfires burning out of control…
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Wall Street rises as small caps advance, megacaps recover ground By Reuters
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By Lisa Pauline Matakal and David French (Reuters) – Wall Street’s main indexes rose on Thursday, a day after a sell-off led by technology stocks, as small-cap stocks and stronger-than-expected gross domestic product data provided support. Small-cap stocks rose 2.3%, on track to fully recoup Wednesday’s big losses. The Dow…
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Japanese officials quiet on forex as yen sharply rebounds By Reuters
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Written by Makiko Yamazaki RIO DE JANEIRO (Reuters) – Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda declined to comment on foreign exchange rates on Wednesday as the yen rose to its highest level against the dollar in more than two months. Asked about the yen’s recent…
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Stellantis triggers government scrutiny with Comau stake sale By Reuters
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MILAN (Reuters) – Automaker Stellantis will sell a majority stake in its robotics unit Comao to OneEquity Partners, the three companies said in a statement on Thursday, in a move aimed at supporting Comao’s expansion beyond the automotive sector. Financial details of the deal were not disclosed, but US private…
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India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says By Reuters
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MUMBAI (Reuters) – The Reserve Bank of India may allow the rupee to weaken slightly to ease a slightly elevated real effective exchange rate and keep the South Asian currency “competitive”, Bank of America Securities said in a note on Thursday. This “supports the government’s ambitions to attract large-scale manufacturing…
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Swiss private bank Julius Baer H1 profit drops 15% By Reuters
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ZURICH (Reuters) – Swiss private bank Julius Baer reported a 15 percent drop in profit in the first half of 2024 on Thursday, a turbulent period that saw its chief executive step down in the wake of the multi-million dollar Cigna debacle. The Zurich-based bank said adjusted net profit fell…
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BASIC bloc slams ‘leadership void’ on climate change, finance By Reuters
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By David Stanway SINGAPORE (Reuters) – Rich nations have left a “leadership vacuum” in climate policy and should provide trillions of dollars to help developing countries cut greenhouse gas emissions, the Group of 10 rich nations including Brazil, South Africa, India and China said late on Wednesday. Ministers from the…
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ANZ’s initial view of bond trading allegations has no evidence of manipulation By Reuters
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(Reuters) – ANZ, Australia’s fourth-biggest bank, said its initial assessment of a distressed bond sale sparked a regulatory investigation that concluded it did not engage in market manipulation, although the bank admitted to unacceptable errors in data reporting. Earlier this month, the company’s chief executive said ANZ planned to “get…
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Ford profit disappoints, stock falls 11% as quality issues dog automaker By Reuters
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By Nora Eckert and Nathan Gomez (Reuters) – Ford Motor Co reported a drop in second-quarter adjusted profit on Wednesday as the automaker continued to grapple with costly quality issues and an electric vehicle business that weighed on its bottom line, sending shares down 11% in after-hours trading. The Detroit…