(Reuters) -U.S. drugmaker Eli Lilly said on Wednesday it will invest $4.5 billion to create a new center in Indiana that will focus on developing new ways to manufacture its drugs and increasing production of experimental medicines used in clinical studies. Lilly and Danish rival Novo Nordisk are market leaders for a class of weight-loss…
By Trevor Hunnicutt and Jasper Ward WASHINGTON (Reuters) – U.S. President Joe Biden said on Wednesday that he does not support strikes on Iran’s nuclear sites in response to its missile attack against Israel. “We’ll be discussing with the Israelis what they’re going to do, but all seven of us (G7 nations) agree that they…
(Reuters) – Bristol Myers Squibb won the dismissal on Monday of a $6.4 billion lawsuit claiming it cheated former Celgene shareholders by delaying federal approval for the cancer drug Breyanzi and two other drugs developed by Celgene. U.S. District Judge Jesse Furman in Manhattan said UMB Bank was never properly appointed trustee for shareholders owning…
By Howard Schneider NASHVILLE, Tennessee (Reuters) – The U.S. economy seems poised for a continued slowdown in inflation that will allow the Federal Reserve to cut its benchmark interest rate and “over time” reach a level that is no longer holding back activity, Fed Chair Jerome Powell said on Monday in remarks that showed no…
By Akash Sriram and Abhirup Roy (Reuters) – Tesla is expected to report an 8% jump in third-quarter deliveries of its electric vehicles on Wednesday, Wall Street estimates show, driven by extended incentives and lucrative financing plans in the world’s largest auto market, China. Responding to sluggish Chinese spending amid flagging economic growth and rising…
(Reuters) -AT&T said on Monday it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for the telecom operator. AT&T, which acquired DirecTV in 2015, signed a joint-venture agreement with TPG in 2021, in which the private equity…
By Milana Vinn and David French (Reuters) – Buyout firm TPG has emerged as the frontrunner to pick up a minority stake worth $2 billion in Creative Planning, in a deal that could value the wealth management firm at more than $15 billion, people familiar with the matter said on Saturday. The deal would mark…
By Haripriya Suresh and Praveen Paramasivam BENGALURU (Reuters) – Indian authorities are set to begin a forensic investigation into the cause of a fire that broke out on Saturday at a Tata Electronics factory that makes components for Apple iPhones, a Tamil Nadu state official said on Sunday. The factory, for which Sunday was a…
By Suzanne McGee (Reuters) – Assets in actively managed exchange-traded funds (ETFs) worldwide hit a record $1 trillion at the end of August, according to data provider ETFGI, boosted by easier regulations and a wave of product innovation. Active ETFs seek to outperform the indexes they are benchmarked to, including the S&P 500, the Nasdaq…
SHANGHAI (Reuters) – Chinese Foreign Minister Wang Yi said the U.S. deployment of intermediate-range missiles in the Philippines “undermines regional peace and stability”, the foreign ministry said on Sunday. Speaking to South Korean Foreign Minister Cho Tae-yul in New York on Saturday, Wang also called for avoiding “war or chaos on the Korean Peninsula”, the…
