WASHINGTON (Reuters) -The U.S. Justice Department is in the early stages of drafting a potential antitrust complaint against Apple Inc, Politico reported on Friday, citing a person with direct knowledge of the matter. A Justice Department spokesperson declined to comment. Apple did not immediately respond to Reuters requests for comment. Politico reported the Justice Department…
WASHINGTON (AP) — The U.S. and China have reached a tentative agreement to allow U.S. regulators to inspect the audits of Chinese companies whose stocks are traded on U.S. exchanges. In a long-festering dispute, U.S. regulators have threatened to boot a number of Chinese companies off the New York Stock Exchange and Nasdaq if China…
By Daniel Trotta (Reuters) -Moderna sued Pfizer and its German partner BioNTech on Friday for patent infringement in the development of the first COVID-19 vaccine approved in the United States, alleging they copied technology that Moderna developed years before the pandemic. Pfizer shares fell nearly 1%, while BioNTech U.S.-listed shares were down about 1.5% and…
JACKSON HOLE, Wyoming (AP) — Federal Reserve Chair Jerome Powell delivered a stark warning Friday about the Fed’s determination to fight inflation with more sharp interest rate hikes: It will likely cause pain for Americans in the form of a weaker economy and job losses. The message landed with a thud on Wall Street, sending…
By Karen Brettell NEW YORK (Reuters) – The dollar index gained on Friday after Federal Reserve Chair Jerome Powell adopted a hawkish tone to battling inflation, but did not settle the debate on how large a rate increase is likely at the U.S. central bank’s September meeting. The U.S. economy will need tight monetary policy…
BERLIN (AP) — The German government is considering backtracking on plans for consumers to pay a surcharge on natural gas amid mounting criticism that the money could flow to highly profitable energy companies, officials said Friday. The surcharge of 2.4 euro cents per kilowatt hour was announced two weeks ago and could cost the average…
By Scott Murdoch, Xie Yu and Samuel Shen HONG KONG (Reuters) – Beijing and Washington took a major step on Friday towards ending a dispute that threatened to boot Chinese companies, including Alibaba, from U.S. stock exchanges, signing a pact to allow U.S. regulators vet accounting firms in China and Hong Kong. U.S. regulators long…
COVID-19 vaccine maker Moderna is suing Pfizer and the German drugmaker BioNTech, accusing its main competitors of copying Moderna’s technology in order to make their own vaccine. Moderna said Friday that Pfizer and BioNTech’s vaccine Comirnaty infringes on patents Moderna filed several years ago protecting the technology behind its preventive shot, Spikevax. The company filed…
By Bansari Mayur Kamdar and Devik Jain (Reuters) – The S&P 500 and the Nasdaq were subdued on Friday in early trading as investors were nervous about hawkish signals from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium amid fears of slowing economic growth. Powell’s speech at 10:00 a.m. ET will be…
As a child, Wendy Schmidt didn’t think about how the ocean intersected with human life. It was a nice place to go swimming, but it was mostly a murky, unknowable realm that didn’t have much to do with her day-to-day life. That outlook changed 15 years ago when she started sailing and learned to scuba…
