By Brendan Pierson (Reuters) – Drugmakers GSK Plc, Pfizer Inc, Sanofi SA and Boehringer Ingelheim on Tuesday defeated thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. The ruling by U.S. District Judge Robin Rosenberg in West Palm Beach, Florida,…
By David French and Ankika Biswas (Reuters) – Wall Street benchmarks tumbled again on Tuesday, with the S&P 500 on course for a fourth straight decline, as uncertainty around the direction of Federal Reserve rate hikes and further talk of a looming recession weighed on skittish investors. Among the biggest drags on the S&P was…
By Ismail Shakil OTTAWA (Reuters) – Canada’s exports rose in October, largely driven by pharmaceutical products, while imports were also up, largely as a result of a depreciation of the Canadian dollar, data showed on Tuesday. The country’s trade surplus with the world grew to C$1.21 billion ($888.53 million) in October, Statistics Canada said, slightly…
By Clara Denina and Helen Reid LONDON (Reuters) -London-listed Glencore cut 2023 production guidance across all the commodities it mines, missing consensus estimates and sending its shares sharply lower on Tuesday. The miner and trader expects to produce 1.04 million tonnes of copper next year, down from 1.06 million this year and much lower than…
(Reuters) -AMC Networks said its chief executive officer had stepped down, less than three months after taking over the role, and that it would cut about 20% of its U.S. workforce as it faces industry pressures and a challenging economy. Shares of the cable TV network, home to hit shows such as “Mad Men” and…
By Shashwat Chauhan (Reuters) -Canada’s main stock index fell to near one-week lows on Tuesday, dragged down by technology and cannabis stocks, while investors remained wary ahead of an interest rate decision from the Bank of Canada (BoC) this week. At 10:32 a.m. ET (1532 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down…
(Reuters) -Italian fashion group Prada confirmed on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer to ease a transition at the helm to the next generation of the founding family. Current CEO Patrizio Bertelli, 76, will be appointed chairman of the luxury company at annual shareholder meeting…
By Devik Jain and Ankika Biswas (Reuters) -U.S. stock indexes were set for a subdued open on Tuesday following a selloff on fears the Federal Reserve could persist with interest rate hikes for longer, while focus shifted to Georgia runoff election that could decide the fate of the Senate. All three major indexes closed at…
By Jan Schwartz HAMBURG (Reuters) – Volkswagen’s CEO will outline a new software and vehicle platform strategy to the carmaker’s supervisory board on Dec. 15 as he tries to turn his predecessor’s vision into deliverable goals, three company sources told Reuters. Oliver Blume, who took the helm in September, has been developing the plans with…
WASHINGTON (Reuters) – United Airlines Chief Executive Scott Kirby said a tentative contract agreement between rival Delta Air Lines and its pilots union would set an industry pattern. “It’s a rich contract but I think the really good news is it means we’ll all get deals done essentially on the same terms and can move…
