LONDON/PARIS (Reuters) – Shares of GSK and Sanofi surged in early trading on Wednesday, following the dismissal of thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer. The ruling on Tuesday by U.S. District Judge Robin Rosenberg in West Palm Beach, Florida, knocked out about 50,000 claims in federal court, although it…
By Trixie Sher Li Yap SINGAPORE (Reuters) – Oil futures were little changed in Asia on Wednesday as hopes of improved Chinese demand offset uncertainty about how a Western cap on Russian oil prices would play out, keeping markets on edge after a sharp fall in the previous session. Brent crude futures edged up 3…
By Lewis Jackson SYDNEY (Reuters) – Major regional airlines say they expect to continue scheduled flights with New Zealand, which is beginning to ration jet fuel after a recent shipment failed government tests. Airlines are being told that jet fuel supplies at the country’s largest airport in Auckland will be throttled to 75% of planned…
By Byron Kaye SYDNEY (Reuters) -An Australian court fined Uber Technologies Inc A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides. The penalty was less than a regulator wanted. The Australian arm of the U.S. ride-sharing app broke consumer law by misleading customers with…
By David Lawder and Timothy Gardner WASHINGTON (Reuters) – When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike. But keeping Russian oil on the market and…
TAIPEI (Reuters) – Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple its planned investment at its new Arizona plant to $40 billion. TSMC’s Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the…
(Reuters) – CMA CGM on Wednesday said it would buy Global Container Terminals Inc’s (GCT) two terminals in the Port of New York and New Jersey as it eyes further expansion in the United States. Bloomberg had first reported on Tuesday that CMA CGM was nearing a deal to acquire two GCT terminals in a…
By Foo Yun Chee and Chavi Mehta BRUSSELS/BANGALORE (Reuters) -Meta will only be able to run advertising based on personal data with users’ consent, according to a confidential EU privacy watchdog decision, a person familiar with the matter said on Tuesday, in a blow to the U.S. social network. The Irish data protection agency, which…
NEW YORK (Reuters) – BlackRock Inc Chief Financial Officer Gary Shedlin said on Tuesday the firm is tightening its belt in terms of hiring and general expenses. Shedlin said other than critical hires, the company has frozen hiring. “We’re trying to be a little more prudent,” he said during a financial conference hosted by Goldman…
STOCKHOLM (Reuters) – Swedbank said on Tuesday it would grow average annual income by 3 percentage points more than costs as it looked to boost returns on equity by 2025, driven by a normalised interest rate environment and rising lending volumes and commissions. The Swedish bank also said it expected to have generated around 300…
