By Ludwig Burger (Reuters) -Novartis said it has agreed to acquire U.S. biotech firm Chinook Therapeutics for up to $3.5 billion to boost its late-stage drug development line-up, raising the stakes in the race for a rare kidney disease treatment. Seattle-based Chinook’s shareholders will receive $3.2 billion, or $40 per share, in cash under the…
(Reuters) – U.S. President Joe Biden’s picks for Federal Reserve Vice Chair and to fill one vacant Fed Board seat will appear before the Senate Banking Committee on June 21 for a nomination hearing, according to an email from the committee chair Sherrod Brown. The panel will also consider the renomination of Fed Governor Lisa…
By Renju Jose SYDNEY (Reuters) -A man was charged with dangerous driving on Monday after at least 10 wedding guests were killed when the bus they were travelling in crashed at a roundabout in Australia’s worst bus accident in almost 30 years, police said. Twenty-five people were injured in the accident around 11:30 p.m. (1330…
By Sybille de La Hamaide PARIS (Reuters) – French Finance Minister Bruno Le Maire said last week he had secured a pledge from 75 top food companies to cut prices on hundreds of products next month to reflect a fall in raw material costs. Supply disruptions exacerbated by Russia’s invasion of Ukraine last year boosted…
By Hamza Ibrahim KANO, Nigeria (Reuters) – In a small factory in Nigeria’s northern Kano city, Muhammad Khamis Umar stares at stacks of plastic products that have not been sold for over a week since new President Bola Tinubu scrapped a fuel subsidy, sharply driving up the cost of petrol. Most of Umar’s customers came…
By John Kruzel WASHINGTON(Reuters) – The U.S. Supreme Court on Monday declined to decide whether requiring criminal defendants to pay a fixed amount of cash bail to secure their release from jail before trial violates the U.S. Constitution. The justices turned away an appeal by Bradley Hester of a lower court’s ruling that upheld Cullman…
By Michael S. Derby NEW YORK (Reuters) – Americans’ expectations for inflation a year from now fell to the lowest level in two years, even as those same households said they expected more challenging financial times looming ahead, a New York Fed report on Monday said. In its May Survey of Consumer Expectations report, the…
By Clara Denina LONDON (Reuters) -Glencore on Monday offered to buy Teck Resources’ steelmaking coal business as a standalone unit, after the Canadian miner twice rebuffed its $22.5 billon offer to combine the two companies. Teck Resources said on June 6 it had received several proposals for its coal business, as it reworks a plan…
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp launched on Monday the long-awaited listing of its hydrogen division Nucera, suggesting its new chief executive intends to waste no time in reviving the fortunes of the embattled conglomerate. Thyssenkrupp Nucera, a 66:34 joint venture with Italy’s De Nora, is targeting proceeds of up to 600…
(Reuters) – Biogen’s shares rose 2% on Monday as a unanimous backing of its Alzheimer’s drug by the U.S. health regulator’s advisers strengthened the case for a traditional approval with no major new safety warnings. The Food and Drug Administration’s advisory panel unanimously agreed that a late-stage trial of the drug Leqembi, developed with partner…
