By Dietrich Knauth NEW YORK (Reuters) – The lead negotiators for Johnson & Johnson’s proposed $8.9 billion settlement of thousands of talc lawsuits faced intense questioning in U.S. bankruptcy court on Wednesday about how much support the company has for the deal. During a multi-day court hearing in Trenton, New Jersey, attorneys for plaintiffs alleging…
(Reuters) – The Russian rouble weakened past 87 against the dollar to a 15-month low on Thursday, hampered by domestic political risk concerns after an aborted mutiny over the weekend, with market uncertainty fuelling demand for safe-haven assets. By 0823 GMT, the rouble was 0.7% weaker against the dollar at 86.96 <RUBUTSTN=MCX> having hit 87.47,…
(Reuters) – Germany’s BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday. “From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the…
(Corrects day in first paragraph to Thursday) (Reuters) – British cinema chain operator Cineworld Group said on Thursday that a U.S. court had approved its debt restructuring plan. The company, which filed for Chapter 11 protection in the U.S. last year, said it continued to expect to emerge out of bankruptcy in July. The proposed…
By Stephen Nellis and Karen Freifeld (Reuters) – U.S. officials are considering tightening an export control rule designed to slow the flow of artificial intelligence chips to China by clamping down on the amount of computing power the chips can have, according to two people familiar with the matter. The Biden administration last October issued…
(Reuters) – China has ramped up its effort to slow the depreciation of the yuan against the dollar this week and market participants widely believe that the People’s Bank of China (PBOC) may follow up with more policy measures if the weakness persists. The PBOC set stronger-than-expected midpoint fixing rates this week and state banks…
(Reuters) – Spain’s consumer prices rose 1.9% year-on-year in June, their slowest increase since March 2021, preliminary data from the National Statistics Institute (INE) showed on Thursday. Spain is the first among the euro zone’s large economies to have inflation fall below 2%, the European Central Bank’s target, the Economy Ministry said in a statement….
SYDNEY (Reuters) – New Zealand passed a law on Thursday guaranteeing bank deposits up to NZ$100,000 ($60,770), a move it said would strengthen and protect its financial system. The Deposit Takers Bill will cover some 93% of all depositors in New Zealand in banks, credit unions, building societies and finance companies, Finance Minister Grant Robertson…
MILAN (Reuters) -More than three-quarters of the population in Lombardy, Italy’s largest and most industrialized region, banked online last year, compared with the national average of 63%, the Bank of Italy said on Wednesday. Digital banking in Lombardy has grown 20 percentage points since 2015, the central bank said in a report on the region’s…
TOKYO (Reuters) – Japanese automaker Toyota Motor on Thursday reported a 10% jump in global sales for May from a year earlier, benefiting from growth at home and other key markets on a recovery in the supply of chips and other parts. The company sold 838,478 vehicles globally last month, including its luxury car brand…
