By Brendan Pierson NEW YORK (Reuters) -E-cigarette maker Juul Labs Inc agreed on Wednesday to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it unlawfully marketed its addictive products to minors. The deal, which also included Colorado, Illinois,…
(Reuters) -Economists at Goldman Sachs no longer expect the U.S. Federal Reserve to raise interest rates in June, according to a research note published on Wednesday following data that showed consumer prices cooled faster than expected in March. Goldman Sachs had previously expected consecutive rate hikes at the Fed’s May and June meetings. Economists led…
TORONTO (Reuters) – Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank left its key interest rate on hold at a 15-year high of 4.50%. MACKLEM ON NEEDING A PERIOD OF WEAK GROWTH “I would remind…
CHENGDU, China (Reuters) -Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sports utility vehicle, as it targeted a premium market in China that has been dominated by German automakers. The Geely-owned brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Europe without saying…
(Reuters) -Alphabet Inc’s self-driving technology unit Waymo said on Wednesday that some of its vehicles in San Francisco encountered dense fog and briefly pulled over to the side of the road. The incident, which occurred at around 6.00 a.m. Pacific Time on Tuesday, impeded some traffic movement before the cars moved out of the area…
By Karen Brettell NEW YORK (Reuters) – The dollar dropped sharply on Wednesday after data showed that U.S. consumer prices rose less than expected in March, possibly reducing the odds that the Federal Reserve will continue to hike interest rates. The Consumer Price Index (CPI) rose by 0.1% in March, below economists’ expectations for a…
(Reuters) – U.S. industrial and software firm Emerson Electric Co on Wednesday said it would buy measurement equipment maker NI Corp for $60 per share in cash, giving the deal an equity value of $8.2 billion. The deal represents a premium of 14.11% to National’s last close on Tuesday. Texas-based NI, formerly known as National…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -China is expected to drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor nations, removing a major roadblock to debt relief, a source familiar with the plans said. The development is expected at a high-level sovereign debt…
By Ahmad Ghaddar (Reuters) -Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2%, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or…
(Reuters) -Mercedes-Benz Group sales rose moderately in the first quarter of the year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday. Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%. The firm saw the biggest sales plunge in the rest of the world…
