BEIJING (Reuters) – China’s factory-gate prices showed an annual fall for a second month in November while consumer inflation slowed, indicating weak activity and soft demand in an economy that has been held back by tough pandemic controls. Analysts said they expected the government to keep interest rates low and take measures to boost confidence….
(Reuters) -Walgreens Boots Alliance has sold some AmerisourceBergen Corp’s shares for proceeds of $1 billion, the U.S. drugstore chain said on Thursday, further cutting its ownership in the drug distributor, by 3% to about 17%. Walgreens, which will remain AmerisourceBergen’ largest shareholder, said it would use the proceeds to pay down debt and to fund…
By David Morgan (Reuters) -House Financial Services Committee Chairwoman Maxine Waters told Reuters on Thursday that she is prepared to subpoena FTX founder Sam Bankman-Fried if he does not agree to appear before the panel next week and she is working out the best way to do it. “We’ve made it clear that we want…
BEIJING (Reuters) – China’s factory gate prices showed an annual fall for a second month in November, amid soft domestic demand and sliding commodity prices, and consumer inflation slowed, indicating weak economic activity in November. The producer price index (PPI) was down 1.3% on a year earlier, unchanged from an annual contraction seen in October,…
(Reuters) -Apple supplier Foxconn’s founder Terry Gou had warned China that the government’s zero-COVID stance would threaten the position of the world’s second-largest economy in the global supply chain, the Wall Street Journal reported. The appeal, sent by Gou in a letter more than a month ago, played a major role in convincing China’s leadership…
(Reuters) – Canada’s TC Energy Corp shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade. The 622,000 barrel-per-day pipeline is a critical artery shipping heavy Canadian…
OTTAWA (Reuters) – The Royal Canadian Mounted Police (RCMP) has suspended a communications equipment contract that was awarded to a company with links to the Chinese government, a spokesperson for Canadian Public Safety Minister Marco Mendicino confirmed on Thursday. Radio-Canada reported on Wednesday that Ottawa had awarded a contract worth about C$550,000 ($404,950) for a…
By Herbert Lash NEW YORK (Reuters) -World stocks rose and oil prices initially rebounded on Thursday on hopes that China’s easing of its anti-COVID-19 measures will help restore global supply chains and curb inflation. China’s shift in policy, announced on Wednesday, would allow the country’s economy to pick up pace, state media CCTV quoted Premier…
By Diane Bartz WASHINGTON (Reuters) – The Biden administration filed a complaint on Thursday aimed at blocking tech giant Microsoft’s $69 billion bid to buy “Call of Duty” games maker Activision, over concerns the deal would deny rivals access to popular games. Microsoft, which owns the Xbox, said in January 2022 that it would buy…
Federal regulators opened their campaign to block Facebook parent Meta’s acquisition of a virtual-reality company Thursday in a San Jose, California, courtroom. In a landmark legal challenge to a Big Tech merger, the Federal Trade Commission has sued to prevent Meta’s acquisition of Within Unlimited and its fitness app Supernatural, asserting it would hurt competition…
