WASHINGTON (Reuters) – The New York Federal Reserve said on Monday its barometer of manufacturing activity in New York State increased for the first time in five months in April as measures of new orders and shipments surged. The regional Fed’s “Empire State” index on current business conditions jumped 35.4 points to a reading of…
(Reuters) – Merck & Co expects a research-and-development charge of about $10.3 billion, or $4 per share, this year as the drugmaker accounts its deal for Prometheus Biosciences Inc as an asset acquisition, CFO Caroline Litchfield said. The deal is expected to hit Merck’s profit by 25 cents per share in the first 12 months,…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear a bid by Sanofi SA to revive its antitrust lawsuit accusing rival pharmaceutical company Viatris Inc of illegally monopolizing the market with its EpiPen auto-injector, a device used to treat severe allergic reactions. The justices turned away Sanofi’s appeal of a…
By Stephen Nellis (Reuters) – Adobe Inc on Monday said it plans to introduce new artificial intelligence (AI) features into its video editing software used by the film and television industries. The tools will let video editors do things like change the lighting in a shot from midday to sunset or generate background music just…
By Andrew Chung WASHINGTON (Reuters) – An evangelical Christian former mail carrier’s fight with the U.S. Postal Service over his refusal to work on Sundays gives the Supreme Court another chance to widen religious rights but also has led to a debate over whether religious people are more legally deserving than others to weekend days…
By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear Novartis Pharmaceuticals Corp’s bid to revive a key patent on its blockbuster multiple sclerosis drug Gilenya that was invalidated amid a legal dispute with China’s HEC Pharm Co Ltd. The justices turned away an appeal by Novartis of a lower court’s…
By Carolina Mandl NEW YORK (Reuters) – Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report. Managers decided to sell Chinese equities amid heightened geopolitical tensions between the world’s second largest…
(Reuters) – State Street Corp reported a first-quarter profit on Monday that missed analysts’ estimates, hurt by a fall in fee income due to the recent U.S. banking crisis, sending the company’s shares down 10% in premarket trading. The collapse of two regional lenders in the United States last month shook investor confidence, raised liquidity…
(Reuters) – State Street Corp reported a first-quarter profit on Monday that missed analysts’ estimates, hurt by a fall in fee income due to the recent U.S. banking crisis, sending the company’s shares down 10% in premarket trading. The collapse of two regional lenders in the United States last month shook investor confidence, raised liquidity…
By Sruthi Shankar and Ankika Biswas (Reuters) -U.S. stock index futures were flat on Monday as investors awaited more bank earnings and views from Federal Reserve policymakers that could shape expectations around when the central bank will pause its monetary policy tightening. Wall Street closed lower on Friday after mixed economic data appeared to affirm…
