By Brendan Pierson (Reuters) – Swiss drugmaker Novartis AG has agreed to pay $30 million to settle claims by health plans and consumers that it schemed to delay the U.S. launch of generic competition for its Exforge hypertension drug. In a motion filed in Manhattan federal court Wednesday, lawyers for the plaintiffs said the proposed…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Top U.S. banking regulators issued a fresh warning to banks to be on guard for any liquidity risks from cryptocurrency-related clients, cautioning some of their deposits could prove volatile. In a joint statement issued Thursday, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried was hit with new criminal charges on Thursday, in an expanded indictment accusing the founder of the now-bankrupt FTX cryptocurrency exchange of conspiring to make more than 300 illegal political donations. Bankman-Fried now faces 12 criminal charges, including four for fraud and eight for…
By Chibuike Oguh NEW YORK (Reuters) – Blackstone Inc, the world’s largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters. Blackstone has amassed about $5 billion for the…
By Chibuike Oguh NEW YORK (Reuters) – Global equities were lower while crude oil edged up as traders braced for higher interest rates after economic data that continues to show the strength of the U.S. economy and validates the Federal Reserve’s tight monetary policy stance. A U.S. Labor Department report on Thursday showed that new…
NEW YORK (Reuters) – Sam Bankman-Fried and his co-conspirators made more than 300 illegal political donations in the United States, according to a new indictment against the FTX cryptocurrency exchange founder unsealed on Thursday in Manhattan federal court. The donations, totaling tens of millions of dollars, were unlawful because they were attributed to a “straw…
By Timothy Aeppel NEW PHILADELPHIA, Ohio (Reuters) – A 77-year-old factory in a hard-luck Ohio town sputtered into high gear to produce a new line of electric garbage trucks. A short drive away, construction began on a $20 billion plant that will take pizza-sized silicon wafers and make them into computer chips used in everything…
By David Lawder and Andrea Shalal BENGALURU/WASHINGTON (Reuters) -The United States intends to “quickly” nominate a candidate for the World Bank presidency who is committed to the lender’s poverty reduction mission as well as lending reforms to fight climate change and other global challenges, U.S. Treasury Secretary Janet Yellen said on Thursday. At a news…
(Reuters) – Alibaba Group Holding Ltd reported better-than-expected quarterly revenue on Thursday, as the Chinese e-commerce giant benefited from the country easing COVID-19 curbs. The company has weathered a weak economy in China, which only last December lifted its zero-Covid policy after three years. Revenue rose 2% to 247.76 billion yuan ($35.92 billion) for the…
By David Lawder BENGALURU (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday the United States would resume discussions with China on economic issues “at an appropriate time” but is continuing to warn Beijing of the consequences of violating U.S. sanctions on Russia. At a news conference ahead of a G20 financial leaders meeting in…
