(Corrects designation of Boerner in paragraph 2) (Reuters) -Bristol Myers Squibb Co said on Wednesday CEO Giovanni Caforio, who has been in the role since 2015, has decided to step down from his position. Chief Commercialization Officer Christopher Boerner will take up the role from Nov. 1. He was previously head of international markets and…
By Granth Vanaik (Reuters) -Mattel Inc posted a bigger-than-expected loss for the first quarter on Wednesday as it grappled with higher costs and retailers cutting back on orders. Consumer companies have been struggling with supply chain issues as well as higher labor and raw material costs, which led Mattel to raise prices for toys and…
By Richa Naidu LONDON (Reuters) -Reckitt Benckiser has named company insider Kris Licht as CEO designate to succeed Nicandro Durante, taking the helm by the end of the year after a transition period. Licht, who has served as president of Reckitt’s health business and as chief customer officer since July 2020, will be appointed to…
(Corrects dateline, day in paragraph 1, typo in headline) (Reuters) – Raymond James Financial Inc missed Wall Street estimates for second-quarter profit on Wednesday as a prolonged dealmaking slump weighed on the investment bank and brokerage’s mainstay business. Investment banking revenue fell 36% to $145 million from a year earlier. Dealmaking was at a virtual…
By Brendan Pierson (Reuters) -President Joe Biden’s administration on Wednesday urged a U.S. appeals court to overrule a conservative Texas-based judge’s order that would essentially ban the abortion pill mifepristone by suspending the drug’s federal regulatory approval in a legal challenge by abortion opponents. The U.S. Justice Department, in a filing to the New Orleans-based…
WASHINGTON (Reuters) – If U.S. President Joe Biden were to be presented with Republican House of Representatives Speaker Kevin McCarthy’s spending and debt bill, he would veto it, the White House said on Tuesday. McCarthy floated a plan last week that would pair $4.5 trillion in spending cuts with a $1.5 trillion increase in the…
(Reuters) – C.H. Robinson Worldwide Inc missed Wall Street expectations for quarterly sales and profit on Wednesday, as the logistics company grapples with falling freight demand against the backdrop of an uncertain economy. The global logistics industry has weathered faltering shipment volumes in the last few quarters, as high inflation and fears of an impending…
MALINDI, Kenya (Reuters) – Stephen Mwiti was too distraught to go identify the bodies of his wife and six children among the corpses of dozens of cult members recovered from Shakahola forest and brought to a mortuary in Kenya’s coastal town of Malindi on Wednesday. “My children are gone. The children who have been rescued,…
By Tim Reid (Reuters) – Former Republican Arkansas Governor Asa Hutchinson formally launched his 2024 presidential bid on Wednesday, in a speech that portrayed himself as a more moderate alternative to party frontrunner Donald Trump. Hutchinson, 72, who’s bid is considered a long-shot, had already broken with Trump this year after the Republican former president’s…
By Blake Brittain (Reuters) – French luxury fashion house Hermès International SCA has settled a lawsuit brought by Skechers USA Inc that claimed Hermès sneakers infringed Skechers’ patent rights, according to a Wednesday filing in Manhattan federal court. The filing said the two sides signed a confidential settlement agreement on Monday. Representatives for the companies…
