By Blake Brittain (Reuters) – Unilever’s “I Can’t Believe It’s Not Butter!” spray is governed by different U.S. Food and Drug Administration regulations than butter and similar products, a U.S. appeals court ruled Tuesday, defeating a long-running false advertising class action. A split 9th Circuit Court of Appeals rejected claims that Unilever based its zero-fat,…
(Reuters) -Western Alliance Bancorp on Tuesday posted stronger-than-expected earnings and said its deposits had stabilized after the March banking crisis, news that boosted its shares and other U.S. regional banks in after-hours trading. The lender said total deposits fell 11.3% to $47.6 billion in the first quarter from the previous three months, but deposits steadied late…
(Reuters) – Australian financial services firm AMP Ltd said on Wednesday net cash outflows for its flagship Australian wealth management business were 30% lower in the March quarter, while the banking unit’s credit quality remained strong. AMP Bank’s loan book grew over the first quarter compared with the previous three months, while lending margins were…
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices were little changed on Tuesday as upbeat economic data in No. 2 oil consumer China offset concerns that possible increases in U.S. interest rates could dampen growth in the top consuming country. Brent crude settled 1 cent, or 0.01%, higher at $84.77 a barrel, while West Texas…
By Lewis Krauskopf, Sruthi Shankar and Ankika Biswas (Reuters) – The S&P 500 eked out a slim gain on Tuesday after strength in some big technology stocks countered disappointing quarterly reports from Johnson & Johnson and Goldman Sachs as first-quarter earnings season kicked into gear. The Dow and Nasdaq ended with fractional declines on the…
By Dawn Chmielewski (Reuters) -Netflix Inc is winding down its DVD-by-mail business, the company said in a blog post on Tuesday, ending the service it started around 25 years ago. The company said its DVD rental business had been shrinking and it will not be able to continue to offer quality service. Netflix will ship…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Whisper it, but Wednesday could be a pretty quiet day in Asia after Wall Street closed little changed on Tuesday and with Malaysian trade and Australian leading indicators the only potential market-moving releases on the regional data calendar….
(Reuters) – WeWork Inc said on Tuesday that it had received a non-compliance notice from the New York Stock Exchange, as its stock traded below $1 over a 30 day period. The notice will not result in immediate de-listing and the company will have six months to regain compliance, the flexible workspace provider said. Debt-laden…
By John McCrank and Chris Prentice (Reuters) – The head of the U.S. Securities and Exchange Commission came under fire on Tuesday from Republican lawmakers who said the agency was stifling financial innovation by rushing the pace of rulemaking in areas such as climate change risks and unclear rules on cryptocurrencies. SEC Chair Gary Gensler…
LONDON (Reuters) – WhatsApp and other messaging services have united to oppose Britain’s plan to force tech companies to break end-to-end encryption in private messages in its proposed internet safety legislation. Meta-owned WhatsApp, Signal and five other apps signed an open letter saying the law could give an “unelected official the power to weaken the…
