By Brendan Pierson (Reuters) – Lawyers for a California man who says he developed a rare cancer from exposure to asbestos in Johnson & Johnson’s talc-based baby powder on Monday urged a jury to order the company to pay heavy punitive damages, calling its conduct negligent and “despicable.” “A reasonably careful corporation would not sell…
NEW YORK (Reuters) – Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. “Hedge funds surged in June, led by growth equity exposures and, specifically,…
(Reuters) – Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark’s “overconcentration.” Apple dropped 1.1%, leaving its market capitalization at $2.967 trillion. It closed above the $3 trillion threshold for the first time on June 30. Alphabet and…
(Reuters) – Canadian discount store chain Dollarama said on Monday its chief financial officer, J.P. Towner, would step down in the coming months to pursue another career opportunity. He became Dollarama’s finance head in March 2021, succeeding Michael Ross who stepped down after more than a decade with the company. Prior to taking up the…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms’ Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and…
(Reuters) – The U.S. Department of Justice (DOJ) is nearing a decision on whether to challenge private equity firm Thoma Bravo’s $2.3 billion buyout deal for ForgeRock Inc, Politico reported on Monday, citing four people with direct knowledge of the matter. The development comes months after ForgeRock said it had received notice from the DOJ…
By Josephine Walker WASHINGTON (Reuters) – Republican U.S. Army combat veteran Sam Brown on Monday launched a run for his party’s nomination to challenge Nevada Democratic U.S. Senator Jacky Rosen in 2024. Rosen’s is one of about eight competitive Senate seats that Democrats will need to defend next year if they are to hold their…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The shadow over Asian markets cast by China’s economic malaise continues to darken, but chinks of light are beginning to appear – ‘peak Fed’ is drawing closer, U.S. bond yields may be topping out, and…
By Andrius Sytas, Sabine Siebold and John Irish VILNIUS (Reuters) -NATO members sought to overcome divisions over how to put Ukraine on a path to membership on the eve of Tuesday’s start to a summit in Lithuania, apparently removing one hurdle to Kyiv joining the alliance. NATO Secretary General Jens Stoltenberg said he had put…
By Nelson Acosta HAVANA (Reuters) -Cuba on Monday accused the U.S. government of bearing “direct responsibility” for the protests that rocked the Caribbean island two years ago, marking the largest demonstrations since Fidel Castro’s 1959 revolution. “The United States has a direct responsibility for the disturbances of July 11 and 12, 2021,” the Communist Party-run…
