By Manya Saini and Anirban Sen (Reuters) – South Korea-based personal products maker Amorepacific Corp will buy Natural Alchemy LLC, which operates the luxury beauty brand Tata Harper, as part of a strategic push to tap into the growing North American market. Vermont-based Tata Harper, which was launched in 2010 by Tata Harper and her…
By Brendan Pierson (Reuters) – Two U.S. military veterans on Thursday sued 3M Co to block its planned spinoff of its healthcare business, which they called an illegal attempt to avoid compensating veterans for hearing damage caused by the company’s military-issue earplugs. The veterans said in a lawsuit in federal court in Pensacola, Florida, that…
By John McCrank NEW YORK (Reuters) -The dollar index vaulted to a 20-year high on Thursday, and notched a 24-year peak against the rate-sensitive Japanese yen, after U.S. data showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation. The U.S. currency firmed after a government report…
By Paul Sandle and Radhika Anilkumar LONDON (Reuters) -Britain’s antitrust regulator said Microsoft Corp’s $69 billion acquisition of “Call of Duty” maker Activision Blizzard could harm competition in gaming consoles, subscription services and cloud gaming, and it needed to be investigated in depth. The Competition and Markets Authority (CMA) said on Thursday the deal, the…
WASHINGTON (AP) — Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it. The government is expected to report that employers added 300,000 jobs last month,…
By David Shepardson WASHINGTON (Reuters) – General Motors’ startup unit Cruise LLC said Thursday it had recalled and updated software in 80 self-driving vehicles after a June crash in San Francisco that left two people injured. Federal regulators said the recalled software could “incorrectly predict” an oncoming vehicle’s path. Cruise said it had determined this…
MEXICO CITY (Reuters) – Remittances to Mexico reached a new record high in July as Mexican families received $5.3 billion from abroad, an annual increase of 16.5%, data from the Mexican central bank showed on Thursday. Mexican President Andres Manuel Lopez Obrador has been a strong supporter of remittances in the midst of an economic…
By Akash Sriram (Reuters) -Nvidia Corp said on Thursday the U.S. government has allowed exports needed to complete the development of its flagship artificial intelligence chip, a day after it disclosed that Washington had restricted shipments of two chips to China. The curbs on exports of Nvidia’s H100 chips and A100 chips – designed to…
BERLIN (Reuters) – Luxury sportscar maker Porsche AG said on Thursday its supervisory board intends to appoint Sajjad Khan, a former chief technology officer at rival Mercedes-Benz, to the company’s executive board with a focus on Car-IT. The move comes as Volkswagen-owned Porsche gears up for a market listing. Khan, 48, worked for Mercedes-Benz for…
Two biopharmaceutical companies will give $5 million and $500,000, respectively, to nonprofit organizations in the United States and abroad that are responding to the growing monkeypox outbreak. The pledges come as the early philanthropic response to the disease, which disproportionately affects LGBTQ people, has been fairly muted compared with the early days of COVID-19. Gilead…
