By Davide Barbuscia CHICAGO (Reuters) – BlackRock has been buying U.S. Treasuries in anticipation of an economic slowdown and a protracted fight between the U.S. government and Congress around the debt limit, BlackRock Chief Investment Officer of Global Fixed Income Rick Rieder said on Wednesday. A U.S. debt default, though considered unlikely, would send financial…
SHANGHAI (Reuters) – Apple Inc and its Android rivals saw sales slide in the first quarter in China, research firm Canalys reported on Thursday, as consumers continued to tighten their belts following the lifting of COVID-19 restrictions. The iPhone maker was the top-selling brand over the first three months of the year, with 20% market…
By Sarah N. Lynch WASHINGTON (Reuters) -A jury on Wednesday convicted Grammy Award-winning rapper Prakazrel “Pras” Michel of The Fugees hip hop group on criminal charges that he conspired with a Malaysian financier to orchestrate a series of foreign lobbying campaigns aimed at influencing the U.S. government under two presidents. His conviction in federal court…
By Dawn Chmielewski and Lisa Richwine (Reuters) -Walt Disney Co sued Florida Republican Governor Ron DeSantis on Wednesday, asking a court to overturn state efforts to control Disney World and intensifying a battle between a global entertainment giant and a likely White House contender. In its lawsuit, Disney accused DeSantis and his supporters of illegally…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms Inc CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. Meta shares surged 12% in after hours trading, adding over $50 billion…
(Reuters) -Bristol Myers Squibb Co said on Wednesday CEO Giovanni Caforio will step down in November and be succeeded by Chief Commercialization Officer Christopher Boerner. Boerner, who has been CCO since 2018, was named chief operating officer until he takes the top job. He joined the company in 2015 and previously served in leadership roles…
(Reuters) -The U.S. health regulator on Wednesday approved Seres Therapeutics Inc’s pill for treating a type of bacterial infection, giving an easier and standardized option to patients who often have to rely on individual donors for fecal transplants. The drug, branded as Vowst, was approved for treating 18 years and older for recurrent Clostridioides difficile…
By Jacqueline Thomsen (Reuters) – Former U.S. appeals court judge and prominent conservative J. Michael Luttig on Wednesday said he believes U.S. Supreme Court justices should “be bound by higher standards of conduct” than lower-ranked federal judges, adding to calls for tighter high court ethics rules. “It’s the titular head of the judicial branch of…
By Trevor Hunnicutt and Nandita Bose WASHINGTON (Reuters) -U.S. President Joe Biden suggested on Wednesday that he could defeat Donald Trump again in a 2024 rematch, and warned the former Republican president was a threat to the country. One day after launching his re-election bid, Biden marked the occasion not on the campaign trail but…
By Stephen Nellis SANTA CLARA, California (Reuters) – Taiwan Semiconductor Manufacturing Co on Wednesday said it will release new software this year to help customers working on advanced computer chips for cars take advantage of its newest technologies more quickly. TSMC is the world’s biggest contract manufacturer of semiconductors. Many of the automotive industry’s biggest…
