ZURICH (Reuters) – Novartis AG plans to ask the U.S. Supreme court to uphold the validity of a patent it holds on the dosing regimen for multiple sclerosis drug Gilenya after suffering a setback in a federal appeals court ruling, the Swiss drugmaker said on Wednesday. The ruling meant HEC Pharma and other drugmakers would…
By Isabel Kua SINGAPORE (Reuters) – Oil prices ticked up on Wednesday on supply concerns, but expectations of another aggressive U.S. interest rate hike capped gains amid investor concerns it could lead to a recession and hurt fuel demand. Brent crude futures rose 11 cents, or 0.1%, to $90.73 a barrel by 0415 GMT after…
WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession. The Fed’s move boosted…
By Kevin Buckland TOKYO (Reuters) – Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve later in the day. Japan’s Nikkei dropped 1.26% and touched a two-week low. Australia’s benchmark share index slid 1.35% and South Korea’s Kospi fell…
NEW YORK (AP) — Water.org announced a $1 billion plan Tuesday to help 100 million people in Africa, Asia and Latin America get lasting access to water and sanitation. The Water.org Water & Climate Fund, unveiled at the Clinton Global Initiative conference in New York, plans to use $50 million in philanthropic money to create…
The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China’s slowing economy. The Manila, Philippines-based lending agency revised its estimate for growth in developing Asian economies to 4.3%, down from an earlier forecast of 5.2%. Growth in 2023…
(Reuters) – Planemaker Boeing Co said on Tuesday it plans to cut about 150 finance jobs in the United States this year to simplify its corporate structure and focus more resources into manufacturing and product development. The company will reduce staffing in its information technology and finance departments, Boeing said in an emailed statement to…
ANCHORAGE, Alaska (AP) — Nearly every single Alaskan got a financial windfall amounting to more than $3,000 Tuesday, the day the state began distributing payments from Alaska’s investment fund that has been seeded with money from the state’s oil riches. The payments, officially called the Permanent Fund Dividend or the PFD locally, amounted to $2,622…
By Sameer Manekar (Reuters) – Australia’s Link Administration said on Wednesday Britain’s financial regulator may fine a UK unit 50 million pounds ($56.86 million) in addition to potential 306.1 million pounds in redress over its management of a now defunct fund. The potential fine and redress payment casts doubts over the share registry firm’s nine-month-long…
By Dawn Chmielewski and Paresh Dave LOS ANGELES (Reuters) -YouTube unveiled a new way for creators to make money on short-form video, as it faces intensifying competition from TikTok. The Google-owned streaming service announced Tuesday that it would introduce advertising on its video feature Shorts and give video creators 45% of the revenue. That compares…
