(Reuters) -Pot producer Canopy Growth said on Thursday it has completed the sale of its facility in Modesto, California as part of its divestitures to raise funding amid liquidity concerns. The sale, the fifth such deal since April 1, is part of Canopy’s ongoing efforts to improve liquidity by reining in costs through layoffs, exits…
(Reuters) – Social media company Snap Inc said on Thursday its subscription service, Snapchat+, hit 4 million members since its launch last year in June. Snapchat+ gives subscribers access to exclusive and pre-release features, and costs $3.99 a month. The company said paid users got a first look at new offerings such as Snapchat for…
By Foo Yun Chee BRUSSELS (Reuters) -Apple will on Friday seek to fend off a revised EU antitrust charge and possible hefty fine linked to claims it prevents music streaming companies such as Spotify from informing users of other buying options outside its App Store. The iPhone maker will set out its arguments to senior…
LONDON (Reuters) – Microsoft’s appeal against Britain’s veto of its $69 billion deal to buy Activision Blizzard will go ahead as planned at the end of July after the Competition Appeal Tribunal (CAT) rejected the antitrust regulator’s request for a delay. The Competition and Markets Authority, which blocked the takeover in April, wanted the hearing…
(Reuters) – The number of German firms pushed into insolvency rose in the first half of this year at the fastest pace in more than two decades due to the energy crisis, inflation and rising interest rates, a study by credit agency Creditreform showed on Thursday. There were 8,400 corporate insolvencies in Germany from January…
WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes fell more than expected in May, dropping to the lowest level in five months as a chronic shortage of houses on the market weighed on activity. The National Association of Realtors (NAR) said on Thursday that its Pending Home Sales Index, based on signed contracts,…
(Reuters) -Australian financial conglomerate Macquarie Group said on Thursday it would divest its U.S.-based port terminal operator Ceres Terminals, with a source familiar with the matter placing the deal value north of $900 million. Macquarie did not disclose any further details on the deal, and declined to comment on Reuters’ request seeking confirmation of the…
(Reuters) – Eli Lilly and Co said on Thursday it will acquire all the shares of Sigilon Therapeutics that it did not own to gain access to experimental cell therapies that can provide longer-term solutions for diabetes patients. A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of…
LONDON (Reuters) -The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union and their reform is seen by the insurance industry and by lawmakers who supported Britain’s exit…
By Padraic Halpin DUBLIN (Reuters) -The Federal Reserve will have to increase rates if prices growth moves away from target or inflation expectations start to move in “a difficult way”, Atlanta Federal Reserve President Raphael Bostic said, while adding that neither was happening right now. While Chair Jerome Powell said on Thursday that most Fed…
