By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden is using $1.5 trillion in new federal spending to continue his push to reshape the U.S. economy, redirect corporate profits and reverse a decades-old decline in the benefits that go to workers. With a new team of progressive-leaning economic advisers and a fiscal war chest…
By Bhanvi Satija and Patrick Wingrove (Reuters) -Eli Lilly and Co on Wednesday said it will cut list prices by 70% for its most commonly prescribed insulin products, Humalog and Humulin, beginning from the fourth quarter of this year. The Indianapolis-based drugmaker also will lower the price of its Lispro insulin injection to $25 a…
(Reuters) – Tesla Inc Chief Executive Elon Musk is expected to lay out details of affordable electric cars at the company’s Investor Day on Wednesday in Texas, where he will unveil the EV maker’s “Master Plan 3.” Musk said making an affordable car has been his “dream” since joining the company. While Tesla has jump-started…
By David Morgan WASHINGTON (Reuters) – The U.S. Senate will vote later on Wednesday on a Republican measure intended to prevent retirement plans from considering environmental, social and corporate governance, or ESG, issues in their investment decisions. The resolution, which passed the House of Representatives on Tuesday, would block President Joe Biden’s Labor Department from…
CHICAGO (Reuters) – Pilots at Delta Air Lines have ratified a new contract that includes over $7 billion in cumulative increases in pay and benefits over four years, their union said on Wednesday. The Air Line Pilots Association (ALPA) said that 78% of Delta pilots voted in favor of the contract. The new contract provides…
(Reuters) – Wall Street’s main indexes opened lower on Wednesday as Treasury yields rose on bets of more rate hikes by the Federal Reserve that offset optimism from strong China manufacturing data. The Dow Jones Industrial Average fell 0.33 points, or 0.00%, at the open to 32,656.37. The S&P 500 opened lower by 6.81 points,…
(Reuters) – Eli Lilly and Co said on Wednesday it would reduce prices by 70% for its most commonly prescribed forms of insulin. The U.S. drugmaker said the reduced prices for its branded insulin injections, Humalog and Humulin, will be effective from the fourth quarter of this year. Lilly also said it was cutting the…
By Sheila Dang (Reuters) – TikTok said on Wednesday it is developing a tool that will allow parents to prevent their teens from viewing content containing certain words or hashtags on the short-form video app, as the embattled company looks to shore up its public image. TikTok, owned by Chinese tech company ByteDance, is facing…
By Nell Mackenzie LONDON (Reuters) – Trend following hedge funds that outperformed rivals in 2022 will likely underperform this year, according to investors surveyed by BNP Paribas in a report published this week. The global survey of 185 investors in December and January also showed the investor community was undecided on putting money in hedge…
By Alex Lawler LONDON (Reuters) – Oil slipped on Wednesday, giving up an earlier gain, as signs of ample supply and rising U.S. crude inventories countered hopes for higher demand arising from a jump in manufacturing in top crude importer China. U.S. oil inventories rose by 6.2 million barrels in the week ended Feb. 24,…
