(Reuters) -Johnson & Johnson sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block a program that gives the Medicare government health insurance plan the power to negotiate lower drug prices. The pharmaceutical industry says the drug price negotiation program under President Joe Biden’s signature Inflation Reduction Act law will curtail profits…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June, with a…
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed more than 1% on Tuesday after China said it will act to support economic growth in the world’s biggest oil importer and on expectations the U.S. Federal Reserve will stop raising interest rates soon and a forecast decline in U.S. output. Brent futures rose $1.13, or…
By Pratyush Thakur and Mike Stone (Reuters) -U.S. weapons maker Lockheed Martin on Tuesday raised its annual profit and sales outlook as conflicts such as the war in Ukraine stoked demand for military equipment. But shares of the company were down around 2.5% over continued supply chain concerns and F-35 deliveries. Defense companies in the…
By Jonathan Stempel (Reuters) -U.S. regulators on Tuesday announced a nationwide crackdown to stop companies from inundating people with billions of unwanted and illegal robocalls and telemarketing calls. The crackdown, known as Operation Stop Scam Calls, involves the U.S. Federal Trade Commission (FTC) and 101 other federal and state law enforcement authorities, including the attorneys…
By Blake Brittain (Reuters) – Yum Brands’ Taco Bell prevailed on Tuesday in its self-described bid to “liberate” the phrase “Taco Tuesday,” as competing fast-food chain Taco John’s told the U.S. Patent and Trademark Office (USPTO) it would abandon its federal “Taco Tuesday” trademark. Taco Bell had asked the USPTO in May to cancel the…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose less than expected in June as receipts at service stations and building material stores declined, but consumers boosted or maintained spending elsewhere, which likely kept the economy on a solid growth path in the second quarter. Overall, the mixed report from the Commerce Department on…
By Jeffrey Dastin (Reuters) – Microsoft on Tuesday said it would charge at least 53% more to access new artificial intelligence features in its widely used office software, in a glimpse at the windfall it hopes to reap from the technology. The company also said it would make a more secure version of its Bing…
WASHINGTON (Reuters) – Twenty-two Republican lawmakers urged the Federal Trade Commission to drop its fight against Microsoft’s deal to buy video game maker Activision Blizzard, calling it “an example of the FTC’s rejection of sound antitrust policy.” The lawmakers, all members of the Republican-controlled House of Representatives, in a letter sent on Monday to FTC…
By Mimosa Spencer (Reuters) -Kering has named managing director Jean-Francois Palus as Gucci’s new CEO and president for a transitional period, part of a management reshuffle at the top ranks of the French luxury goods group aimed at restoring momentum at its star label. Marco Bizzarri, who has led Gucci since 2015, will leave the…
