By Granth Vanaik and Katherine Masters (Reuters) -Levi Strauss & Co cut its annual profit forecast on Thursday, in a sign that higher costs were weighing on the denim clothing maker’s margins as it struggles with falling sales at its wholesale channels in North America. Shares of the company fell about 6% in extended trading,…
By Fergal Smith TORONTO (Reuters) -The Canadian dock workers strike is another factor for the Bank of Canada (BoC) to consider ahead of its policy announcement next week because the longer it drags on, the greater the risk of supply-chain disruptions that fuel inflation, economists said. Some 7,500 dock workers went on strike on Saturday…
By David Shepardson WASHINGTON (Reuters) -A group of 25 Republican state attorneys general on Thursday urged President Joe Biden’s administration to abandon plans to sharply cut vehicle tailpipe emissions, while a group of Democratic counterparts from 20 states urged more stringent requirements. The Environmental Protection Agency in April proposed new 2027-2032 vehicle standards that would…
(Reuters) – Concordia said on Thursday it had acquired all the shares it was permitted to acquire of Rothschild & Co, paving the way for the Rothschild family’s holding company to open an offer to take the investment bank private. Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share. The…
By Deena Beasley The U.S. Food and Drug Administration on Thursday granted standard approval to Eisai and Biogen’s Leqembi for patients with Alzheimer’s disease. The FDA decision is expected to trigger broader coverage of the $26,500-a-year drug by the U.S. government’s Medicare health plan for people aged 65 and older. Leqembi was granted “accelerated” FDA…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set for a torrid end to the week on Friday as another spike up in U.S. bond yields and the prospect of interest rates being kept higher for longer triggered waves of…
(Corrects grammar in first paragraph) By Katie Paul NEW YORK (Reuters) -Meta Platforms on Wednesday launched a direct challenge to Twitter with Threads, garnering millions of users in hours as it sought to take advantage of its rival’s much-weakened state after a series of chaotic decisions from owner Elon Musk. Those quick to join the…
By Rajesh Kumar Singh and Diane Bartz CHICAGO/WASHINGTON (Reuters) – JetBlue Airways’ decision to abandon its alliance with American Airlines has improved its chances in the trial over a $3.8 billion deal to buy Spirit Airlines, but may not be enough to hand it a victory, antitrust experts said. In its lawsuit filed in March…
By Jonathan Stempel (Reuters) – A federal judge said Rivian Automotive must face a lawsuit claiming it defrauded shareholders during and after its blockbuster 2021 initial public offering by concealing that had underpriced its electric vehicles, leading to unpopular price hikes. U.S. District Judge Josephine Staton in Los Angeles said shareholders could try to prove…
(Reuters) – Bausch + Lomb acquired Johnson & Johnson’s eye and contact lens drops brand Blink for $106.5 million, marking its second deal in two weeks to bolster the contact lens maker’s portfolio of eye care products. J&J’s Blink portfolio of over-the-counter drugs include several eye drops and contact lens rewetting drops that are used…
