By Davide Barbuscia NEW YORK (Reuters) -Fitch downgraded the U.S. credit rating due to fiscal concerns, a deterioration in U.S governance, as well as political polarization reflected partly by the Jan. 6 insurrection, Richard Francis, a senior director at Fitch Ratings, told Reuters on Wednesday. In a move that took investors by surprise, Fitch downgraded…
By Blake Brittain (Reuters) -British biopharmaceutical giant GSK sued Pfizer in a U.S. court on Wednesday, alleging that Pfizer’s respiratory syncytial virus (RSV) vaccine Abrysvo violates GSK’s patent rights in its rival RSV shot Arexvy. In the lawsuit brought in federal court in Delaware, GSK said New York-based Pfizer’s vaccine infringes four of its patents…
(Reuters) – Global firms from consumer goods giant Unilever to automaker Nissan and machinery maker Caterpillar have warned of slowing earnings in China as the world’s second-largest economy loses its post-pandemic bounce. The rebound has been limited to a handful of sectors such as travel, dining and luxury goods, driving double-digit China sales growth for…
(Reuters) – Creditors led by Apollo Global Management Inc are nearing a deal to provide Yellow Corp with fresh cash during a coming bankruptcy, Bloomberg News reported, citing people familiar with the matter. Shares of Yellow were up 78% at $3.14 in afternoon trade. The U.S. asset manager, which owns most of one of Yellow’s…
JERUSALEM (Reuters) – Israel’s Defense Ministry said on Wednesday that the United States has approved the sale of a co-developed missile defense system to Finland. The ministry said that having received the green light from Washington, Israel can complete the sale of the advanced air-defense system David’s Sling to Finland in a 316 million euros…
By Jarrett Renshaw, Stephanie Kelly and Leah Douglas (Reuters) – The Biden administration is divided over whether to grant a request from the U.S. biofuel industry that would make it easier for sustainable aviation fuel made from corn-based ethanol to qualify for subsidies under the White House’s signature climate law, according to two sources familiar…
PARIS (Reuters) -Airbus has won an order from Wizz Air for 75 additional A321neo aircraft, the European planemaker said on Wednesday. The “firm contract” signed by the companies takes Wizz Air’s total orders for the A321neo to 434 aircraft, Airbus said in a statement. Jet orders are booming and plane manufacturers are racing to boost…
By Linda Pasquini and Helen Reid (Reuters) – Hugo Boss raised its sales and profit outlook on Wednesday as a brand revamp and marketing push helped the German fashion house overcome sluggish sector-wide demand in China and the United States. The premium fashion group has shown resilience in slowing U.S. and European markets while boosting…
MOSCOW (Reuters) – Russia’s economy grew 5.3% in June year on year, the economy ministry said on Wednesday, after an increase of 5.4% in May. Seasonally adjusted gross domestic product (GDP) edged up 0.04% year on year in June, after an increase of 1.4% in the previous month, the ministry said. (Reporting by Reuters)
By Alexander Marrow (Reuters) – The Russian rouble tumbled over 2% to a more than 16-month low past 94 against the dollar on Wednesday, pressured by political risk, falling oil prices and concerns the finance ministry may switch to foreign currency purchases this month. By 1609 GMT, the rouble was 2% weaker against the dollar…
