(Reuters) – A coalition of cannabis firms, representing about 45% sales volume in California, on Tuesday started an effort to address credit issues that have plagued the state’s legal cannabis market. Cannabis operators including Kiva Sales & Service, Lowell Farms, Nabis, Sunderstorm launched Financial Stability for California Cannabis (FSCC) and issued a public letter in…
By Andreas Rinke and Michel Rose REYKJAVIK (Reuters) -Ways to hold Russia to account for its war against Ukraine, including keeping a tally of losses and damage inflicted by Moscow’s forces, were the focus of talks as European leaders met in Iceland on Tuesday for a two-day summit. German Chancellor Olaf Scholz, French President Emmanuel…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending appears to have increased solidly in April, with households boosting purchases at online retailers as well as spending more at restaurants and bars, signs of resilience in the face of growing headwinds to the economy. The economy’s improving fortunes were further bolstered by other data on…
By Nupur Anand and Niket Nishant NEW YORK (Reuters) – JPMorgan Chase & Co CEO Jamie Dimon said that it is “unlikely” that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank. “It [First Republic] will further help advance our wealth as well as other initiatives,” Dimon…
By Nupur Anand and Niket Nishant NEW YORK (Reuters) – JPMorgan Chase & Co CEO Jamie Dimon said that it is “unlikely” that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank. “It [First Republic] will further help advance our wealth as well as other initiatives,” Dimon…
UNITED NATIONS (Reuters) – Global economic growth is projected to be 2.3% in 2023, up 0.4 percentage points from a January forecast, and the prediction for 2024 has dropped 0.2 percentage points to 2.5%, according to a United Nations report released on Tuesday. “Despite this uptick, the growth rate is still well below the average…
By Sarah Young and David Milliken HOVE, England (Reuters) – Two workers glide between a computer screen and a stainless steel vat making face cream, a scientist in a white coat mixes a formula and a colleague sticks labels on bottles. Apart from the whir of machines, there is silence: this is “deep work time”…
By Eduardo Baptista and Yuvraj Malik (Reuters) – Search engine giant Baidu Inc beat first-quarter revenue and profit estimates on Tuesday as businesses spent more on advertising amid China’s post-COVID reopening, and said it was awaiting regulatory approval to launch its ChatGPT-like Ernie bot. Business momentum in China is building after it dropped most of…
DRESDEN, Germany (Reuters) – A German court on Tuesday sentenced five men to several years behind bars for their involvement in a jewel heist in 2019 at a museum in Dresden which houses one of Europe’s greatest art collections. The pieces stolen from the break-in at the Gruenes Gewoelbe (Green Vault) museum in Dresden contained…
(Reuters) – Comcast Corp will likely sell its 33% stake in streaming platform Hulu to Walt Disney Co early next year, CNBC reported on Tuesday, citing Comcast Chief Executive Brian Roberts. Disney said in 2019 it would take full control of Hulu in a deal with Comcast that ascribed a minimum equity value of $27.5…
