By Bhanvi Satija and Sriparna Roy (Reuters) -The U.S. Food and Drug Administration (FDA) on Wednesday approved French drugmaker Ipsen’s drug for a rare bone disorder, making it the first treatment available to patients with the condition that causes abnormal bone growth. The company said its drug, Sohonos, was approved in adults and pediatric patients…
(Reuters) -Networking equipment maker Cisco Systems’ CEO talked up market share wins and artificial intelligence (AI) opportunities, as he moved to allay fears over slowing growth after a disappointing annual revenue forecast. The remarks helped the company’s shares reverse course in extended trading to rise more than 2% on Wednesday. But the stock has underperformed…
By Saeed Azhar and Noel Randewich NEW YORK (Reuters) – Wall Street ended lower on Wednesday after the Federal Reserve’s minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting. The minutes of the Fed’s July monetary policy meeting showed most policymakers continue to prioritize the…
By Matt Tracy WASHINGTON (Reuters) – The credit quality of U.S. middle market collateralized loan obligations (CLOs), major sources of debt funding for mid-sized companies, has worsened only slightly even as the overall risk of late payments by these companies has increased, according to Moody’s. The new data suggests that despite increasingly challenging liquidity conditions…
By Greg Roumeliotis and Emma-Victoria Farr (Reuters) -ArcelorMittal SA, the world’s second-largest steelmaker, is considering a potential offer for U.S. Steel Corp, three people familiar with the matter said on Wednesday. The combination would reverse ArcelorMittal’s retreat from the United States as a production base after it sold most of its operations to Cleveland-Cliffs Inc…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian market sentiment on Thursday will again be a mix of caution and nervousness, with familiar roots: a supercharged dollar and rising U.S. bond yields, tightening financial conditions, and deepening concern over China. Wall Street’s…
By Walter Bianchi, Jorge Otaola and Lucinda Elliott BUENOS AIRES (Reuters) – Confidence in Argentina’s peso plumbed new depths on Wednesday as the currency slid to 780 pesos per dollar in the popular black market, where savers are willing to pay more than twice the official rate now pegged at 350 pesos per greenback. The…
By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -Federal Reserve officials were divided over the need for more interest rate hikes at the U.S. central bank’s July 25-26 meeting, with “some participants” citing the risks to the economy of pushing rates too far even as “most” policymakers continued to prioritize the battle against inflation,…
By Danielle Broadway LOS ANGELES (Reuters) – After three months of walking the picket lines, striking Hollywood writers expressed optimism on Wednesday about the reopening of contract talks with major studios and the possibility they could be back at work in weeks. Details of the latest proposal from the Alliance of Motion Picture and Television…
By Helen Reid LONDON (Reuters) -H&M is investigating 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, it told Reuters, just weeks after top rival Zara-owner Inditex said it was phasing out purchases from the Southeast Asian country. A British-based human rights advocacy group tracked 156 cases…
