By Dietrich Knauth (Reuters) – Defunct talc supplier Whittaker, Clark & Daniels has filed for Chapter 11 bankruptcy, citing on Thursday a “deluge” of lawsuits alleging that its talc products caused asbestos exposure and cancer. Whittaker operated one of the largest talc and industrial compound supply and distribution businesses in the U.S. in the 1970s…
By Ismail Shakil OTTAWA (Reuters) – Canada’s Senate on Thursday passed the government’s online streaming legislation after a 10-month debate over a law that will force firms like Netflix and Alphabet Inc-owned YouTube to offer more Canadian content. Bill C-11, or the Online Streaming Act, cleared the unelected upper chamber of the Canadian parliament with…
By Brad Brooks (Reuters) -A white woman whose discredited accusations against Black teenager Emmett Till led to his lynching in 1955 has died in Louisiana, according to a coroner’s report. Till’s murder in Mississippi helped ignite the Civil Rights movement, in part because his mother held an open-casket funeral, with a photo of her son’s…
By Granth Vanaik (Reuters) -Mondelez International Inc on Thursday raised its annual forecasts on steady demand for its chocolates and biscuits despite price hikes. Packaged food makers have been raising prices to protect profit margins from higher costs, but have seen little opposition from inflation-hit consumers who continue to prefer chocolates and snacks over private-label…
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – The tech-heavy Nasdaq led a Wall Street rally on Thursday as a strong quarterly report from Facebook parent Meta Platforms Inc overshadowed concerns over slowing U.S. economic growth. Shares in Meta closed up 13.9% after touching their highest level in more than a year after…
By Sheila Dang (Reuters) -Snap Inc on Thursday missed analyst expectations for quarterly revenue as changes to its advertising platform hurt demand for ads, and warned results in the next quarter could fall below Wall Street’s targets. Shares of Snap tumbled 19% in after-market trading. The Santa Monica, California-based company, which owns photo messaging app…
By Vansh Agarwal (Reuters) -Pinterest Inc forecast second-quarter revenue growth below Wall Street estimates on Thursday, as the image-sharing platform grapples with a pullback in advertising spending, sending its shares down 13% in trading after the bell. While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain. Shares of…
By Michelle Nichols UNITED NATIONS (Reuters) -The U.N. Security Council unanimously condemned on Thursday a Taliban administration ban on Afghan women working for the United Nations in Afghanistan and called on Taliban leaders to “swiftly reverse” a crackdown on the rights of women and girls. The resolution – drafted by the United Arab Emirates and…
By Luc Cohen NEW YORK (Reuters) – A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison on Thursday for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, 36, of Fernandina Beach, Florida, pleaded…
By Deena Beasley (Reuters) -Amgen Inc on Thursday reported lower first-quarter profit as expenses rose and a 2% increase in sales of its own drugs was offset by lower revenue from its deal to manufacture COVID-19 antibody treatments for Eli Lilly and Co. Amgen reported revenue of $6.11 billion for the quarter, down 2% from…
