By Jessica DiNapoli NEW YORK (Reuters) -Perrigo Company PLC, which makes store-brand baby formulas for retailers, including Walmart Inc and Amazon.com Inc, expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview. The Biden administration this week has come under increasing pressure to…
By Carolina Mandl SAO PAULO (Reuters) – Credit Suisse Group AG said on Friday in a statement its chairman Axel Lehmann “clearly endorsed” the bank’s Chief Executive Officer Thomas Gottstein and that nothing had changed in this regard, following a Bloomberg story that it was considering a replacement. (Reporting by Carolina Mandl, Editing by Rosalba…
(Reuters) – A federal judge on Friday ordered food consumer companies Kraft Heinz and Mondelez International pay a $16 million fine as part of a settlement with the U.S. Commodity Futures Trading Commission, the agency said. The CFTC said in 2015 it had filed a complaint against the companies alleging manipulation and attempted manipulation of…
By Jessica DiNapoli NEW YORK (Reuters) -Perrigo Company PLC, which makes store-brand baby formulas for retailers including Walmart Inc and Amazon.com Inc expects shortages and heightened demand to last for the “balance of the year,” said CEO Murray Kessler in an interview with Reuters. Perrigo’s formula manufacturing facilities in Ohio and Vermont are now running…
By Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) – Big Oil has enjoyed an easier ride at shareholder meetings so far this year compared with last year’s punishing run of hostile investor votes tied to climate concerns, as those issues have been eclipsed by tight oil supplies. Major oil companies have handily defeated several high-profile…
NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: BITCOIN The price of bitcoin dropped to…
MEXICO CITY (AP) — No item is more essential to Mexican dinner tables than the corn tortilla. But the burst of inflation that is engulfing Latin America and the rest of the world means that people like Alicia García, a cleaner at a restaurant in Mexico City, have had to cut back. Months ago, García,…
(Reuters) -Abbott Laboratories said on Friday it has air shipped millions of cans of infant formula powder into the United States from its facility in Ireland to address shortages here as it tries to reopen its Michigan manufacturing plant. The company said in a blog https://www.abbott.com/corpnewsroom/nutrition-health-and-wellness/abbott-update-on-powder-formula-recall.html it was shipping infant formula produced at its Cootehill,…
By Nivedita Balu and Kenneth Li (Reuters) -Elon Musk tweeted on Friday that his $44-billion cash deal for Twitter Inc was “temporarily on hold” while he waits for the social media company to provide data on the proportion of its fake accounts. Twitter shares initially fell more than 20% in premarket trading, but after Musk,…
LONDON (Reuters) – Elon Musk on Friday put his $44-billion deal for Twitter Inc temporarily on hold, sending the social media company’s shares some 20% lower in pre-market trading and on the Frankfurt stock exchange. Below are analysts’ reactions to the announcement. PETER TUZ, PRESIDENT, CHASE INVESTMENT COUNSEL, CHARLOTTESVILLE, VIRGINIA “I consider the Musk/Twitter episode…
