WASHINGTON (Reuters) – The head of a trade group representing nearly all major automakers urged the U.S. Environmental Protection Agency to “ease up” on its aggressive proposal to sharply cut vehicle emissions through 2032, saying it could benefit China. Alliance for Automotive Innovation CEO John Bozzella said Monday the “EPA should ease up and reassess…
By Shristi Achar A and Noel Randewich (Reuters) – U.S. stocks rallied on Monday, putting the S&P 500 within striking distance of its highest close since April 2022, and Oracle hit a record high ahead of quarterly results as investors awaited inflation data and the Federal Reserve’s interest rate decision this week. Lifted by gains…
WASHINGTON (Reuters) – U.S. District Judge Leo Sorokin on Monday delayed the effective date of a permanent injunction after ruling American Airlines and JetBlue Airways must end their Northeast Alliance (NEA) they used to coordinate flights and pool revenue. Sorokin initially said the injunction would take effect June 20. He said Monday he would now…
By Rod Nickel WINNIPEG, Manitoba (Reuters) – Canadian biofuels producers are threatening to build their next projects in the United States to cash in on rich subsidies for clean fuel and stay competitive, a move that could cost Canada C$10 billion ($7.5 billion) of investment and undermine Prime Minister Justin Trudeau’s efforts to build a…
By Ludwig Burger (Reuters) -Novartis said it has agreed to acquire U.S. biotech firm Chinook Therapeutics for up to $3.5 billion to boost its late-stage drug development line-up, raising the stakes in the race for a rare kidney disease treatment. Seattle-based Chinook’s shareholders will receive $3.2 billion, or $40 per share, in cash under the…
(Reuters) – Biogen’s shares rose 2% on Monday as a unanimous backing of its Alzheimer’s drug by the U.S. health regulator’s advisers strengthened the case for a traditional approval with no major new safety warnings. The Food and Drug Administration’s advisory panel unanimously agreed that a late-stage trial of the drug Leqembi, developed with partner…
(Reuters) – Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity. The move comes amid renewed regulatory scrutiny at the world’s largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued…
(Reuters) – Catalent Inc on Monday posted a bigger-than-expected loss for the third quarter and cut its annual forecast for a second time, hurt by persistent production challenges at the contract drug manufacturer’s major facilities. The company will also amend its annual filing for 2022 to reflect a $26 million deduction caused by a revenue…
By Gus Trompiz PARIS (Reuters) – Record pig prices could have spurred farmers like Carole Joliff to expand their herd, but costly livestock regulations, flagging demand and spreading swine disease point instead to a long-term decline in the European Union, the world’s top pork exporter. “We’re flying blind,” Joliff, who farms in France’s pig-breeding heartland…
MADRID (Reuters) – Irish airline Ryanair is keen to buy the slots International Consolidated Airlines Group may be forced to dispose to get its planned acquisition of Air Europa approved by the European antitrust regulator, Cinco Dias newspaper reported on Monday. “We are following the process because we are interested in the possible liberation of…