WASHINGTON (Reuters) – Senate Majority Leader Chuck Schumer said senators will consider legislation to bolster the Biden administration’s ability to crackdown on popular video sharing app TikTok as they craft wide-ranging legislation to address Chinese threats. In March, Senators Mark Warner and John Thune joined by 24 other senators proposed the Restrict Act to grant…
COPENHAGEN (Reuters) – Danish brewer Carlsberg has reached a settlement with German authorities and agreed to pay a 50 million-euro ($55 million) fine over the alleged formation of a cartel more than a decade ago. It said it refuted the allegations but had settled in order to focus on its core business of brewing beer….
By Raghav Mahobe and Leroy Leo (Reuters) – CVS Health Corp said on Wednesday it would pause its recent acquisition spree as it focuses on integrating purchases of healthcare service provider Signify Health and primary care provider Oak Street Health. CVS, which has a large retail pharmacy chain, and major health insurance and pharmacy benefit…
By Alexander Ratz, Sarah Marsh and Valerie Volcovici BERLIN (Reuters) – U.S. climate envoy John Kerry said on Wednesday China has invited him to visit “in the near term” for talks on averting a global climate change crisis even as diplomatic relations between the world’s two biggest greenhouse gas emitters remain tense. The United States…
ZURICH (Reuters) -UBS Chief Executive Sergio Ermotti said on Wednesday that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June. Speaking at the Finanz ’23 conference in Zurich, Ermotti also repeated his bank’s line that all options were still on the table concerning Credit…
By Noele Illien ZURICH (Reuters) -UBS was considering the potential impact of buying struggling rival Credit Suisse as early as December, months before the takeover was hastily arranged by Swiss authorities in March, according to a regulatory filing. The filing with the U.S. Securities and Exchange Commission (SEC) also showed UBS concluded in February that…
(Reuters) – Britain’s competition watchdog said on Wednesday it was looking into Adobe Inc’s $20 billion buyout deal for cloud-based designer platform Figma to find if it could lead to “substantial lessening of competition” in the country. The move underlines regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition. UK Competition…
By Brendan O’Brien (Reuters) – New York has become the first U.S. state to pass legislation banning the use of natural gas for heating and cooking in some new buildings, a plan designed to reduce carbon emissions but opposed by industry groups as excessive and costly. Both the Democratic-led Assembly and Senate late on Tuesday…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated. Despite darkening clouds gathering over the economy as the lagged effects of higher…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -The World Bank’s board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, ushering in an Indian-born finance and development expert to revamp the lender to tackle climate change and other global crises. Banga, 63, was nominated for the post…
