By Brendan Pierson (Reuters) -Leading consulting firm McKinsey & Co has agreed to settle claims by hundreds of U.S. local governments and school districts around the country that it fueled an epidemic of opioid addiction through its work for bankrupt OxyContin maker Purdue Pharma LP and other drug companies. The deal was disclosed in a…
A bipartisan group of attorneys general is asking Albertsons to delay a $4 billion payout to its shareholders until they can complete a review of Kroger’s planned acquisition of the grocery chain. Kroger earlier this month announced it was paying $20 billion to buy Albertsons. The deal is expected to close in early 2024, if…
(Reuters) – Tobacco company Swedish Match AB on Thursday recommended that shareholders accept Marlboro maker Philip Morris International Inc’s raised buyout bid for the company. Although Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share earlier this month and called that its “best and final price”, it had been…
By Noele Illien, Oliver Hirt and John O’Donnell ZURICH (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards rich clients as the bank attempts to put years of scandals behind it, sending its shares sliding. Chairman Axel…
By Foo Yun Chee BRUSSELS (Reuters) – European anti-trust regulators are investigating Alphabet unit Google’s Google Play Store, the company said in a regulatory filing, a move that could expose the U.S. tech giant to another billion-euro fine. Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust fines following…
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) – The Biden administration expects to ink a deal with allies in the near-term to bring them on board with new U.S. rules curbing China’s access to sophisticated chipmaking tools, a senior Commerce Department official said on Thursday. This month, the Commerce Department published a sweeping set…
DETROIT (AP) — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service. She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn’t have any suitable vehicles. Or they’d demand she pay $3,000 to $6,000 above…
WASHINGTON (AP) — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve’s aggressive rate hikes intended to tame the nation’s stubbornly high inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate jumped to…
Elon Musk is telling Twitter advertisers he is buying the platform to “help humanity” and doesn’t want it to become a “free-for-all hellscape” where anything can be said with no consequences. The message to advertisers posted Thursday on Twitter came a day before Musk’s deadline for closing his $44 billion deal to buy the social-media…
By Tim Hepher PARIS (Reuters) – Airbus has unveiled a wider and longer cabin for its A350 in a battle for wide-body sales against Boeing – while quietly ditching the slogan on which it waged a fierce dispute over elbow space with its arch-rival a decade ago. The two planemakers routinely go head to head…
