By David Shepardson WASHINGTON (Reuters) – The chair of a U.S. House committee on Thursday urged President Joe Biden to adopt expansive restrictions on outbound U.S. investment in China especially in key sectors likely to harm U.S. national security. Representative Mike Gallagher, a Republican who heads the select committee on China, wants the Biden administration…
(Reuters) – Walgreens Boots Alliance has sold some AmerisourceBergen Corp’s shares for proceeds of about $1.85 billion, the U.S. drugstore chain said on Thursday, further cutting its ownership in the drug distributor to about 16%. Walgreens said in a statement it would use the proceeds to pay down debt and for general corporate purposes. The…
(Reuters) – President Volodymyr Zelenskiy on Thursday decried “revolting” practices exposed during an audit of Ukraine’s military recruitment centres and pledged to fix the system by placing in charge people who understood the meaning of war. Zelenskiy has expressed indignation at corruption uncovered during the audit last month after a high-profile incident of wrongdoing came…
By Nupur Anand NEW YORK (Reuters) – Block Inc reported a rise in second-quarter revenue on Thursday as payment volumes at the fintech giant led by Jack Dorsey held up against a tough economic backdrop. The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year…
By Jorge Garcia MOJAVE NATIONAL PRESERVE, California (Reuters) -The largest wildfire in California so far this year has burned precious Joshua trees, a prominent cultural symbol once vital for indigenous people to weave into baskets and sandals and still an important part of the Mojave Desert ecosystem. The York Fire has burned around 94,000 acres…
By David Shepardson WASHINGTON (Reuters) -General Motors (GM) on Thursday said it expected to offer unionized workers higher wages, but granting the United Auto Workers’ (UAW) ambitious contract demands including large pay rises would hurt its ability to make sound business decisions. Company and union sources told Reuters the UAW was seeking at least a…
(Reuters) -Rare earths miner MP Materials posted a better-than-expected quarterly profit on Thursday and said it has started refining small amounts of the strategic metals in California. Rare earths are a grouping of 17 metals used to make magnets found in motors that turn electricity into motion. China is the world’s largest producer and consumer…
CARACAS (Reuters) – The Venezuelan bolivar weakened to 30 units per dollar, the central bank said on Thursday, marking the latest descent for the beleaguered local currency as the economy suffers one of the world’s highest inflation rates. Over the past seven months, the bolivar has depreciated by a third compared with the U.S. dollar,…
By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) -The chairman of a U.S. congressional committee on China held out the possibility on Thursday of subpoenas for executives from asset management firm BlackRock and index provider MSCI if they do not provide “fulsome” answers about investments in blacklisted Chinese companies. The House of Representatives select committee…
(Reuters) -The U.S. Centers for Disease Control and Prevention (CDC) said its advisory panel on Thursday recommended use of Sanofi and partner AstraZeneca’s antibody therapy to prevent respiratory syncytial virus (RSV) in infants and toddlers. The Advisory Committee on Immunization Practices unanimously recommended nirsevimab for preventing lower respiratory tract disease in newborns and infants below…
