By Richa Naidu and Chandini Monnappa (Reuters) -Consumer products giants including Unilever, Coca-Cola and Reckitt have shown they can raise prices to cope with higher costs, but investors told Reuters they want to see more innovation to drive dwindling sales volumes. Major consumer goods companies – from Nestle to P&G – have managed sharp rises…
(Reuters) – Drugmaker Mallinckrodt is talking to hedge funds about filing for bankruptcy and avoiding payments intended to help people addicted to opioids, the Wall Street Journal reported on Wednesday. Shares of the company rose 53.3% to 69 cents in afternoon trade. As part of a prearranged deal, Mallinckrodt will propose to write off about…
NEW YORK (Reuters) -Six people were injured in New York on Wednesday when the top portion of a construction crane caught fire and crashed into a Manhattan street during the morning rush hour, authorities said. Firefighters and rescue personnel arrived at the scene just as the crane fell, apparently responding to the blaze that had…
(Reuters) -OpenAI, Microsoft, Alphabet’s Google and Anthropic are launching a forum to support safe and responsible development of large machine-learning models, top industry leaders in artificial intelligence said on Wednesday. The group will focus on coordinating safety research and articulating best practices of what is called “frontier AI models” that exceed the capabilities present in…
By Valerie Insinna and Abhijith Ganapavaram (Reuters) -Boeing is lifting production of its bestselling 737 narrow-body jet, but executives said Wednesday that it will take time for its facilities to stabilize production, even as they set their sights on future rate boosts. Shares of the company rose 7%, at one point hitting a 1-1/2-year high…
(Reuters) -Dish Network said on Wednesday its unit Boost Infinite had partnered with Amazon.com to sell postpaid wireless plans through the e-commerce platform in the United States. The Boost Infinite Unlimited SIM kit will be available to Amazon Prime subscribers at $25 a month for unlimited talk, text and data services. Dish and Amazon did…
By Tatiana Bautzer and Pete Schroeder NEW YORK (Reuters) – U.S. banking giants may take up to four years to set aside profits to meet new capital rules, according to a report by Morgan Stanley. U.S. banking regulators will on Thursday unveil a sweeping proposal for stricter bank capital requirements known as the “Basel III…
By Sam Tobin and Michael Holden LONDON (Reuters) – A tearful Kevin Spacey said he was “humbled” after a jury in a London court found him not guilty on Wednesday of carrying out multiple sex assaults on four men. After 12 hours and 26 minutes of deliberation, the jury acquitted the Oscar-winning U.S. actor by…
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau shuffled his cabinet on Wednesday, appointing new heads at 30 of the 38 ministries, adding seven new faces. Here are details of the main announcements: WHO HAS A BIG NEW JOB? The most unexpected move saw Anita Anand switch from defense to the more low-profile job of…
(Reuters) – Visa disclosed on Wednesday it had received demands from the U.S. Department of Justice for additional documents and information over its debit card practices in the United States and competition with other payment networks. The civil investigative demands from the anti-trust division of the DoJ were made on May 2 and add to…
