By Mimosa Spencer PARIS (Reuters) -Cosmetics group L’Oreal beat expections for first-quarter sales growth on Tuesday, batting away concerns about lockdowns in China and inflation as consumers snapped up high-end beauty products in its key markets. “We are not even close to experiencing a luxury down-turn, we see many people that are affluent and even…
By Dietrich Knauth (Reuters) -Alabama on Tuesday reached $276 million in settlements with Johnson & Johnson, McKesson Corp and Endo International Plc, resolving claims that the companies fueled an opioid addiction crisis, the state attorney general said. Under the settlement, drug distributor McKesson will pay $141 million to the state, while drugmakers Johnson & Johnson…
(Reuters) – Alabama on Tuesday reached $276 million in settlements with Johnson & Johnson, McKesson Corp and Endo Pharmaceutical, resolving the state’s claims that the companies fueled an opioid addiction crisis, the state Attorney General said. (Reporting by Dietrich Knauth)
WASHINGTON (Reuters) – Generic drug maker Hikma Pharmaceuticals has won U.S. antitrust approval to buy Custopharm, Inc on condition that it divest an injectable steroid, the U.S. Federal Trade Commission said on Tuesday. Hikma, which makes anesthetics, pain medications, sedatives, neuromuscular agents and other drugs, announced the deal in September as a way for it…
Key Earnings You Must Watch Earnings season is upon us. Markets have been battered with cautious macro headlines over the past couple of months. Bears warn markets about rising rates, geopolitical turmoil, inflationary pressures, supply chain constraints, and weaker margins. These warnings have won the day as evident by the latest AAII data which saw…
By Ann Saphir (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Tuesday said the Fed could raise its policy target range to 2.25%-2.5% by year end and then take stock of the state of the economy, but if inflation remains high will likely need to hike rates further. “Probably we are going beyond neutral…
(Reuters) – Twitter Inc co-founder Jack Dorsey took aim at the social media company’s board in a series of tweets late on Monday as it weighs Elon Musk’s $43 billion takeover offer. Dorsey, who is also a Twitter board member, added to the chatter on the micro-blogging platform last week when he said that Twitter’s…
By Mathieu Rosemain PARIS (Reuters) – Two former bosses of Deliveroo were given suspended one-year prison sentences and fined 30,000 euros ($32,380) by a French court on Tuesday for abusing the freelance status of riders working for the British takeaway delivery platform. The company was also fined the maximum penalty of 375,000 euros and will…
By Tom Hals and Jessica DiNapoli (Reuters) – Twitter Inc’s board directors can lean on concerns about the fate of the social media platform under Elon Musk to rebuff him, but if they decide to explore a sale, price will override all other considerations, corporate governance experts said. The San Francisco-based company received a $43…
By Manas Mishra (Reuters) -Johnson & Johnson on Tuesday said it could no longer provide a forecast for sales of its COVID-19 vaccine, as vaccine hesitancy in low income countries paired with already low demand in higher income nations has led to a glut of supply. The company had earlier predicted as much as $3.5…
