(Reuters) -The U.S. Federal Trade Commission is investigating whether baby-formula makers colluded on bids for attractive state contracts, the Wall Street Journal reported on Wednesday. The FTC is looking into whether Abbott Laboratories and other formula manufacturers have “engaged in collusion or coordination with any other market participant regarding the bidding”, the WSJ report said,…
By Samia Nakhoul and Aziz El Yaakoubi (Reuters) – Once labelled a pariah, Saudi Crown Prince Mohammed bin Salman took centre stage as master of ceremonies last week when Arab states readmitted Syria to the Arab League, signaling to Washington who calls the regional shots. His effusive greeting of President Bashar al-Assad at the Arab…
By Sam Nussey TOKYO (Reuters) – Sony Group Corp said on Wednesday that its status as an independent provider of content to streaming services is paying off at a time when platform operators are coming under pressure to demonstrate profitability. “Our decision years ago to stay out of the crowded general streaming space and instead…
By David Shepardson WASHINGTON (Reuters) -The U.S. needs to invest more in aviation safety technology solutions after a series of close-call runway incidents this year, the head of the U.S. National Transportation Safety Board said on Tuesday. The NTSB is investigating six runway incursion events since January including some that could have been catastrophic. Technology…
By Josh Ye HONG KONG (Reuters) – China’s Lenovo Group Ltd on Wednesday reported a 24% fall in revenue for the January-March quarter, meeting market expectations, as demand for personal computers (PCs) continued to slump. The world’s largest PC maker said fourth-quarter revenue was $12.63 billion, down 24% from the same period a year earlier…
A look at the day ahead in European and global markets from Kevin Buckland Britain gets a read on how much inflation is receding under the weight of 450 basis points of hikes since December 2021, when rates were near zero. The consensus call is for a retreat to 8.2% for April, ostensibly much less…
By Soo-hyang Choi SEOUL (Reuters) – South Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as China, a U.S. public filing showed. In March, the U.S. commerce department proposed rules to prevent China and other countries it deems…
By Davide Barbuscia NEW YORK (Reuters) – Wall Street’s focus is turning to at-risk U.S. Treasury debt payments as the deadline to raise the government’s $31.4 trillion borrowing limit or risk default ticks closer. U.S. Treasury Secretary Janet Yellen on Sunday said June 1 remained a “hard deadline” for raising the federal debt limit, with…
By John McCrank NEW YORK (Reuters) – U.S. money market fund assets hit a new record of $5.8 trillion this week as yield-hungry investors continued to turn to the short-term debt securities – a stark contrast to the 2011 debt- ceiling standoff when there were large outflows from the funds. Money market mutual funds –…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government is expected to fund part of its spending for childcare measures by issuing additional bonds over a period of roughly two years, the Yomiuri newspaper reported, raising concerns about an already high public debt burden. The plan will be included in the government’s long-term…
