By Kanishka Singh WASHINGTON (Reuters) -President Joe Biden on Friday signed into law the U.S. defense policy bill that authorizes a record $886 billion in annual military spending and policies such as aid for Ukraine and push-back against China in the Indo-Pacific. The National Defense Authorization Act, or NDAA, passed Congress last week. The Democratic-controlled…
By Scott DiSavino NEW YORK (Reuters) – Oil prices eased on Friday ahead of the long Christmas holiday weekend on expectations Angola could increase output after leaving OPEC, but rose for the week on positive U.S. economic news and worries Houthi ship attacks would boost supply costs. Brent futures fell 32 cents, or 0.4%, to…
By Savyata Mishra and Aishwarya Venugopal (Reuters) – Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker…
By Michael Erman and Manas Mishra (Reuters) -Bristol Myers Squibb on Friday agreed to buy Karuna Therapeutics for $14 billion, gaining a promising new type of antipsychotic medicine to help power growth as patents on its older therapies expire later this decade. Karuna’s experimental schizophrenia drug, called KarXT, should drive sales through the late 2020s…
LONDON (Reuters) – Global investors put a record $1.3 trillion into cash in 2023, according to a report from Bank of America and data provider EPFR on Friday. They also pumped a record $177 billion into U.S. Treasuries this year, though on a weekly basis the U.S. government bonds are in their third weekly outflow,…
By Siyi Liu and Dominique Patton BEIJING (Reuters) – This Dec. 21 story has been corrected to clarify that the ban was on the export of technology to make rare earth magnets and that the ban on technology to extract and separate critical materials was already in place, in paragraphs 1 and 6. It also…
