(Reuters) – California’s attorney general on Thursday sued 3M Co, DuPont de Nemours Inc and several other companies to recoup the “staggering” clean-up costs from toxic pollutants known as “forever chemicals.” Attorney General Rob Bonta said the lawsuit followed a multiyear probe that found the companies marketed products containing polyfluoroalkyl and perfluoroalkyl substances (PFAS) for…
By Gertrude Chavez-Dreyfuss and Elizabeth Howcroft NEW YORK/LONDON (Reuters) – With major cryptocurrency exchange FTX on the brink of collapse, some investors are beginning to question the viability of a sector already bruised by the bitcoin bubble bursting and closures of key market players. Crypto markets have come under intense pressure this year, as rising…
WASHINGTON (AP) — Embattled vaping company Juul Labs announced hundreds of layoffs Thursday as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes. Juul said it has obtained new financing to stay in business and continue operations, which includes challenging plans by the Food and Drug Administration to ban its products….
NEW YORK (AP) — The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices. FTX had agreed earlier this week to sell itself to bigger rival Binance after experiencing…
MILAN (Reuters) – The Benetton family and U.S. investment fund Blackstone have secured Atlantia shares accounting for 62.2% of its capital as of Thursday, a day before the deadline for their takeover bid, Reuters calculations based on bourse data showed. Borsa Italiana said the take-up in the buyout offer for the Italian infrastructure group, which…
Biogen has picked former Sanofi CEO Christopher Viehbacher to become its next leader, as the drug developer continues to recover from its failed launch of the Alzheimer’s treatment Aduhelm. The company said Thursday that the 62-year-old Viehbacher will become president and CEO on Monday, replacing Michel Vounatsos. Biogen said in May that Vounatsos would leave…
Elon Musk warned Twitter employees Thursday to brace for “difficult times ahead” that might end with the collapse of the social media platform if they can’t find new ways of making money. Workers who survived last week’s mass layoffs are facing harsher work conditions and growing uncertainty about their ability to keep Twitter running safely…
(Reuters) – Juul Labs Inc has told employees on Thursday that it has stopped its bankruptcy preparations and is working on a cost-cutting program, the Wall Street Journal reported, citing company officials. The company also plans to lay off about 400 people and reduce its operating budget by 30% to 40%, the report added. Juul…
(Reuters) – FTX has approached Kraken as potential rescue partner, Axios reported on Thursday, citing two people familiar with the matter, just hours after Chief Executive Sam Bankman-Fried said he had launched an urgent push to raise funds. Bankman-Fried had earlier in the day said he was in talks with “a number of players” in…
By Michael S. Derby (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday the point where the central bank might pause on rate rises could be getting closer. “I am in the camp of wanting to get to what would clearly be a restrictive stance, somewhere north of four-ish, you know, four…
