(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…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to continued labor market strength. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 239,000 for the week ended June 25, the Labor Department said on Thursday. Economists polled by Reuters had forecast 265,000…
By Manya Saini (Reuters) -U.S. bank stocks rose in premarket trading on Thursday after the Federal Reserve’s stress test showed the lenders have adequate capital to survive an economic slump even though analysts doubted if that would lead to higher returns for shareholders. The test showed the average capital ratio for the 23 banks was…
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…
By Brenda Goh SHANGHAI (Reuters) -Geopolitics and the national security concerns of some countries are threatening the globalisation of the world’s chip industry and its future growth, the chairman and acting CEO of memory chipmaker Yangtze Memory Technologies (YMTC) said on Thursday. Chen Nanxiang said in a speech at the opening ceremony of the Semicon…
By Amruta Khandekar and Matteo Allievi (Reuters) -European shares were muted on Thursday as hawkish signals from a slew of major central bankers offset a boost from H&M, after the Swedish retailer posted a stronger-than-expected quarterly profit. The pan-European STOXX 600 index was broadly unchanged at 456.34 by 0829 GMT, paring some early gains. The…
By Marie Mannes STOCKHOLM (Reuters) -H&M shares hit a 16-month high on Thursday after its second-quarter profit beat estimates, with its summer collection doing well as warmer weather arrives in Europe. Shares in the world’s second-biggest fashion retailer jumped 10% to hit their highest level since February 2022. Analysts said the results showed cost-cutting was…
(Reuters) – With U.S. inflation well above the Federal Reserve’s 2% goal and a labor market that’s still very tight, most of the central bank’s policymakers expect they will need to raise interest rates at least twice more by year’s end, Fed Chair Jerome Powell said on Thursday. In remarks prepared for delivery to a…
(Reuters) -Renault raised on Thursday its financial outlook for full-year 2023 following the success of its new launches, in particular of SUV Austral and Dacia Jogger models. The French car maker, which has been engaged for several years in a deep restructuring and a strategic repositioning to restore its margins, said it is now aiming…
By Raphael Satter WASHINGTON (Reuters) -The U.S. Department of Health and Human Services (HHS) was among those affected by a wide-ranging hack centered on a piece of software called MOVEit Transfer, a source at HHS said on Wednesday. “While no HHS systems or networks were compromised, attackers gained access to data by exploiting the vulnerability…
