SEATTLE (AP) — Months into a complex trial over their role in flooding Washington with highly addictive painkillers, the nation’s three largest opioid distributors agreed Tuesday to pay the state $518 million, with the vast majority being directed toward easing the addiction epidemic. Attorney General Bob Ferguson announced the deal, noting that it’s worth tens…
Starbucks’ sales climbed to record levels in its fiscal second quarter, but its profits took a hit from climbing labor costs. And those costs are set to grow even higher in the coming months as Starbucks introduces new pay raises and other benefits to improve its employee experience __ and head off a growing unionization…
By Praveen Paramasivam and Hilary Russ (Reuters) -Starbucks Corp suspended its guidance for the rest of its fiscal year on Tuesday as sales growth missed Wall Street targets due to China’s tough COVID-19 curbs. Comparable sales in China, where the chain has rapidly expanded in recent years to tap rising coffee consumption, declined 23%, overshadowing…
By David Shepardson WASHINGTON (Reuters) -U.S. Vice President Kamala Harris will host a White House meeting on Thursday with organizers from unions seeking to represent workers at Amazon.com Inc, Starbucks and other employers. The meeting will include Christian Smalls, who heads the Amazon Labor Union, and other grassroots organizers from Starbucks/SEIU, United Paizo Workers/CWA, Baltimore…
By Svea Herbst-Bayliss BOSTON (Reuters) – Bank of America ranked as the top financial adviser to companies targeted by activist investors in 2021, vaulting past three rivals to claim the top spot, according to Refinitiv data published on Tuesday. During 2021, Bank of America advised on 35 campaigns, up from 28 reported for the previous…
By Dietrich Knauth (Reuters) -Washington has reached a $518 million settlement with drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc, ending a months-long trial over the companies’ alleged role in fueling the opioid epidemic in the state. McKesson will pay $197 million, while AmerisourceBergen and Cardinal will each contribute $160.5 million to the…
(Reuters) – Advanced Micro Devices Inc forecast second-quarter revenue above market expectations on Tuesday, betting on steady demand for its chips used in data centers and gaming consoles. A booming cloud computing market is fuelling strong sales of chips used in data centers, helping AMD overcome a weakness in its PC chip business, one of…
SALT LAKE CITY (AP) — U.S. officials announced what they called extraordinary steps on Tuesday to keep hundreds of billions of gallons of water stored in a reservoir on the Utah-Arizona line to prevent it from shrinking more amid prolonged drought and climate change. The U.S. Bureau of Reclamation plans to hold back about 480,000…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar slipped against a basket of currencies on Tuesday, as investors evaluated how much of the Federal Reserve’s expected move to hike rates this week and beyond was already priced in. The dollar index hit a 20-year high last week on expectations the U.S. central bank…
By Emma Farge GENEVA (Reuters) – The four main parties to negotiations on an intellectual property waiver for COVID-19 vaccines have prepared an “outcome document” for approval by the broader membership, the WTO said on Tuesday, with its chief hoping for a final deal by June. WTO director-general Ngozi Okonjo-Iweala, who has made vaccine equity…
