(Reuters) -Illumina Inc cut annual profit forecast, in a sign that a funding crunch among its biotech and pharmaceutical clients is expected to weigh on sales for its genetic testing tools and diagnostics products. Shares were down nearly 6% in extended trading on Wednesday. Rising interest rates have squeezed funding for drug development and research…
By Matthew Lewis (Reuters) -Robbie Robertson, the guitarist and main songwriter in The Band, the Canadian-American group known for songs including “The Weight” and “The Night They Drove Old Dixie Down,” has died at the age of 80, his manager said on Wednesday. Robertson, who left his Toronto home at age 16 to pursue his…
By Gabrielle Tétrault-Farber and Leroy Leo (Reuters) -The World Health Organization on Wednesday classified the EG.5 coronavirus strain circulating in the United States and China as a “variant of interest” but said it did not seem to pose more of a threat to public health than other variants. The fast-spreading variant, the most prevalent in…
By Dietrich Knauth NEW YORK (Reuters) -Bankrupt trucking company Yellow Corp will not seek court approval to borrow $142.5 million from private equity firm Apollo Global Management as planned on Wednesday, instead seeking time to explore alternate loan offers, an attorney for the company said. Yellow has received similar-sized loan offers from MFN Partners, an…
By Ross Kerber (Reuters) – Boards of S&P 500 companies made recruiting directors with financial expertise their top priority over the past year, slowing boardroom gains for minorities, according to a new report. Out of 388 new directors added by the top U.S. corporations, 36% self-identified as Black, Hispanic or other racial or ethnic minorities,…
By Kanishka Singh (Reuters) -Canada said on Wednesday that an opposition Canadian legislator with family in Hong Kong had been targeted in an online disinformation operation and said China most likely played a role. In a statement, the Canadian foreign ministry said the target was Michael Chong, a member of the opposition Conservative party, a…
By Herbert Lash NEW YORK (Reuters) -Global stocks slipped on Wednesday, a day before the release of key U.S. inflation data, while the dollar eased after data showed the Chinese economy slipped into deflation last month. Wall Street traded lower on investor caution a day before the Consumer Price Index report for June. Some analysts…
BlackRock’s (NYSE: BLK) recent short interest surge, up by 15.32% since the last report, has caught the attention of market observers. The company disclosed holding 2.11 million shares sold short, constituting about 1.43% of the total tradable shares. This volume of short positions, when considered against trading activity, implies an average of 3.23 days required…
By Zeba Siddiqui SAN FRANCISCO (Reuters) – The White House on Wednesday said it had launched a multimillion-dollar cyber contest to spur use of artificial intelligence (AI) to find and fix security flaws in U.S. government infrastructure, in the face of growing use of the technology by hackers for malicious purposes. “Cybersecurity is a race…
(Reuters) – Wynn Resorts on Wednesday reported second-quarter results above Wall Street estimates as strength in its Las Vegas and Macau properties drove growth in gaming, dining and hotel bookings. The casino operator saw an accelerated recovery in visitors to Macau in the quarter ended June, while a post-pandemic revenue surge in Las Vegas continued….
