(This Aug. 15 story has been corrected to say that the cost target is $50 at cell level and less than $100 at pack level in paragraph 7) By Paul Lienert (Reuters) – Our Next Energy, the Michigan-based electric vehicle battery startup, said its new Aries II battery pack is capable of providing 350 miles…
(Reuters) – Insured property losses from the wildfire that ravaged the resort town of Lahaina in Hawaii last week are estimated to be about $3.2 billion, catastrophe modeling firm Karen Clark & Company (KCC) said on Wednesday. The inferno killed at least 106 people after racing from grasslands outside town into Lahaina last Tuesday. The…
(This Aug. 12 story has been corrected to state that ICER’s final analysis was that Zolgensma was cost effective at a price of $1.1 million to $1.9 million in paragraph 27) By Deena Beasley LOS ANGELES (Reuters) – Baby Ben Kutschke was diagnosed at three months with spinal muscular atrophy, a rare inherited disorder which…
(Reuters) -Visa is under fresh investigation by the U.S. Department of Justice over allegations it is charging retailers more for not using the payment firm’s proprietary tokenization technology, Bloomberg News reported on Wednesday, citing people familiar with the matter. The DOJ’s antitrust probe against Visa, which began in early 2021, is investigating if the company…
By Milana Vinn (Reuters) – Jefferies has hired Credit Suisse investment banker Jon Gegenheimer in its latest efforts to boost its U.S. technology dealmaking franchise, according to people familiar with the matter. Gegenheimer, who was a managing director at Credit Suisse and is based in San Francisco, will report to Cameron Lester and Jason Greenberg,…
By Carolina Mandl NEW YORK (Reuters) – Global hedge funds “aggressively” sold Chinese stocks amid heightened concerns over the country’s property sector and a weak batch of economic data, a Goldman Sachs report on Tuesday showed. All types of stocks were sold in early August, but A-shares, those listed in the domestic stock market, led…
SHANGHAI (Reuters) -Anxious Chinese retail investors are bombarding listed companies with questions about their exposure to Zhongrong International Trust Co after missed payments by the trust company triggered fears of contagion across the country’s financial system. Investors had submitted more than 100 questions to dozens of Shanghai- and Shenzhen-listed companies via investor relation platforms asking…
By Alexander Marrow (Reuters) – The Russian rouble strengthened past 95 to the dollar on Wednesday, one day after the central bank hiked interest rates to 12% at an emergency meeting and amid speculation over what other steps Russia may take to prop up its struggling currency. Tuesday’s extraordinary rate meeting and 350-basis-point key rate…
WASHINGTON (Reuters) – The office of the U.S. Trade Representative on Wednesday said it was pleased with a World Trade Organization panel report that it said recognized the United States’ section 232 actions on steel and aluminum are security measures and rejected China’s arguments. “The United States is pleased with the World Trade Organization (WTO)…
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) – Bridgewater Associates’ flagship fund had a bearish view on U.S. stocks in late July just as a rally that saw the benchmark S&P 500 soar this year was about to lose steam, according to a presentation to investors seen by Reuters. The July 25 investor…
