(Reuters) -Beverage giants Coca-Cola Co and PepsiCo Inc are under preliminary investigation by the U.S. Federal Trade Commission (FTC) over potential price discrimination in the soft drink market, Politico reported on Monday citing sources. The pricing strategies of both companies are being scrutinized under the Robinson-Patman Act, the report said. The U.S. antitrust law prevents…
By Arathy Somasekhar (Reuters) – Oil prices were little changed on Tuesday, giving up some of the gains from the previous session, as traders awaited clarity on the Federal Reserve’s plans for rate hikes to gauge the impact on the economy and fuel demand. Fed policymakers say fresh inflation data out later this week will…
(Reuters) – Beverage giants Coca-Cola Co and PepsiCo Inc are under preliminary investigation by the Federal Trade Commission (FTC) over potential price discrimination in the soft drink market, Politico reported on Monday citing sources. (Reporting by Shivani Tanna in Bengaluru; Editing by Sherry Jacob-Phillips)
By David Shepardson WASHINGTON (Reuters) -New Jersey and Ohio said on Monday they were joining other states in banning use of the popular video app TikTok on government-owned and managed devices. New Jersey Governor Phil Murphy, a Democrat, said in addition to banning the short-video app owned by Chinese technology conglomerate ByteDance from state devices…
By Shadia Nasralla LONDON (Reuters) -Capricorn Energy said on Monday it was ready to add “a number” of people put forward by activist investor Palliser to its board while it pursues a merger with Israel’s NewMed that some of its shareholders oppose. Palliser, which is Capricorn’s third-biggest shareholder and has spoken out against the proposed…
SHANGHAI (Reuters) – Prospective Tesla Inc buyers in China are waiting longer for certain versions of its Model Y car, suggesting the electric-vehicle maker’s decision to cut prices is stoking demand in its second-largest market. Tesla cut prices by 6% to 13.5% on Friday, bringing some of its auto prices to near BYD’s best-selling models…
(Reuters) – Novavax Inc said on Monday its longtime chief executive officer, Stanley Erck, would retire and be succeeded by industry veteran John Jacobs, at a time when the COVID-19 vaccine maker looks to catch up with larger rivals. Novavax shares were up about 5% in premarket trade. Jacobs takes over the role effective Jan….
By Leroy Leo and Aditya Samal (Reuters) – Johnson & Johnson will look for opportunities to merge with or acquire firms that add value to its focus areas of eye care, surgical robots, orthopedics and cardiovascular products, the company’s Chief Executive Officer Joaquin Duato said on Monday. The healthcare giant is in the process of…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Monday after China’s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes…
By Gabriel Araujo and Karin Strohecker SAO PAULO/LONDON (Reuters) -Brazilian equities were higher in choppy trade on Monday, a day after thousands of supporters of former President Jair Bolsonaro stormed government buildings in the capital, echoing the Jan. 6, 2021, insurrection in Washington. The Brazilian real weakened roughly 0.55% against the dollar in spot trading,…
