WASHINGTON (Reuters) – U.S. business activity accelerated to an 11-month high in April, according to a survey on Friday, which was at odds with growing signs that the economy was in danger of slipping into recession as higher interest rates cool demand. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the…
By Deena Beasley and Julie Steenhuysen (Reuters) – Eli Lilly and Co expects the U.S. Medicare health plan to back down from strict coverage limits on new Alzheimer’s drugs as more evidence emerges in coming weeks showing that clearing amyloid brain plaques can help patients, a company executive told Reuters. Lilly plans to release results…
(Reuters) – Chile, the world’s second largest lithium producer, said it plans to transfer control of the production of the mineral essential for electric vehicle (EV) batteries to a new state-owned company. Here are key facts about lithium and EVs: WHAT IS LITHIUM? The silvery-white element is the lightest metal and highly reactive, giving it…
N’DJANEMA (Reuters) – Chad has recalled its ambassador to neighbouring Cameroon in the latest escalation of a dispute over the sale by Exxon Mobil of its oil assets in both countries to Savannah Energy. Chad said in a statement late on Thursday that the president of the landlocked Central African state decided to recall its…
PARIS (Reuters) – French Finance Minister Bruno Le Maire pledged on Friday to take action against food retailers if they do not pass on lower wholesale prices to consumers struggling to cope with the rising cost of living. Global wholesale food prices have been falling but French food retailers and their suppliers agreed a 10%…
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a second week to hit an over nine-month high of $586.41 billion for the week ended April 14, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $1.65 billion from the previous week. Reserves had gone up by $6.3…
BEIJING (Reuters) – China’s ruling Communist Party has passed guidance for promoting the development of private firms, state media said on Friday, signalling more steps to reinvigorate a sector hurt by a round of regulatory curbs. China will optimise the development environment for the private sector and will remove institutional barriers that prevent firms from…
A look at the day ahead in U.S. and global markets from Mike Dolan The signal is still lost in an awful lot of noise. Just when it looked like signs of a recessionary downturn were finally emerging in U.S. economic and earnings updates, European business seems to have picked up considerable steam this month…
(Reuters) – U.S. bond funds suffered big outflows in the week to April 19 on expectations that the Federal Reserve would continue to hike interest rates to tackle inflationary pressures. Refinitiv Lipper data showed $3.1 billion worth of net selling from U.S. bond funds after two weeks of inflows. Fund flows: U.S. domiciled equities, bonds…
BERLIN (Reuters) – Nestle and private equity firm PAI Partners have agreed to set up a joint venture for Nestle’s frozen pizza business in Europe, the Swiss company said on Friday, adding financial details were not disclosed. Nestle’s pizza business across Europe has an annual turnover of around CHF 400 million ($448.38 million), it said….
