SILVER SPRING, Md. (AP) — Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop 5o date on Wednesday as the famously volatile crypto market weathers yet another slump. Coinbase reported a $430 million net loss in the first quarter, or $1.98 per share, on declining sales…
(Reuters) -Abbott Laboratories said on Wednesday it could restart production of infant formula at its troubled Michigan facility within two weeks. The company in February recalled some baby formulas, including certain Similac products, made at the plant in Sturgis after complaints about bacterial infections in infants who had consumed the products. Abbott will restart production…
(Reuters) – The Dallas Federal Reserve on Wednesday named Lorie Logan as its next president, filling the vacancy left by Robert Kaplan’s resignation last fall after an outcry over the ethics of his active stocks trading during the coronavirus pandemic. Logan, an executive vice president at the New York Fed and the manager of the…
(Reuters) – Russia’s economy will begin stabilising in its “new equilibrium” closer to the end of this year after beginning to go through a structural transformation in the second and third quarters, the central bank said in a report on Wednesday. “Although monetary policy conditions have changed significantly, price stability remains the unconditional priority of…
By Eric M. Johnson and Aishwarya Nair SEATTLE (Reuters) – Boeing Co said on Wednesday it would study an equity raise after unlocking deliveries of its 787 and returning its cash-cow 737 MAX to service in China, but flagged supply chain risks amid broader certification and industrial problems. Resuming deliveries of 787 Dreamliners and clearing…
By Manas Mishra (Reuters) – Pfizer Inc’s $11.6 billion deal for migraine specialist Biohaven Pharmaceutical has kindled expectations on Wall Street that it may usher in more buyouts as cash-flush drugmakers look to snap up beaten-down smaller biotechs. The deal, announced on Tuesday, is the biggest in the sector so far this year and ends…
ZURICH (Reuters) – Insurer Axa and consumer goods group Unilever plan to invest 100 million euros each into a new 1 billion euro ($1.06 billion) regenerative agriculture fund to be managed by Tikehau Capital, the three groups said on Wednesday. The companies each aim to invest 100 million euros into the fund. They said they…
LONDON (AP) — Google said Wednesday that it struck licensing deals with 300 news publishers in Europe in its latest effort to comply with a recently introduced European Union copyright law. The tech giant signed the agreements with national, local and specialist news publications in Germany, Hungary, France, Austria, the Netherlands and Ireland and said…
By Eric M. Johnson and Aishwarya Nair SEATTLE (Reuters) -Boeing Co said on Wednesday that supply chain disruptions slowed production and deliveries of its 737 MAX cash-cow narrowbody plane in recent weeks, but it does not see its overall plan for the year being disrupted. The U.S. planemaker also said China was close to clearing…
By Gabriel Araujo and Andre Romani SAO PAULO (Reuters) -Brazilian carrier Gol Linhas Aereas Inteligentes SA and Colombia’s Avianca said on Wednesday they were combining under the roof of a common holding company, signaling a move toward post-pandemic Latin American airline consolidation. The holding company, called Abra Group, will be jointly controlled by the principal…
