By Chris Prentice and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) -U.S. stocks were mixed and European shares ended nearly flat on Thursday as investors balanced mixed earnings reports and economic data, while the pound retreated from mid-September highs. Oil prices extended their rally on optimism over record U.S. crude exports. The U.S. dollar gained against major currencies….
By Brendan Pierson (Reuters) -Leading consulting firm McKinsey & Co has agreed to settle claims by hundreds of U.S. local governments and school districts around the country that it fueled an epidemic of opioid addiction through its work for bankrupt OxyContin maker Purdue Pharma LP and other drug companies. The deal was disclosed in a…
(Reuters) – Tobacco company Swedish Match AB on Thursday recommended that shareholders accept Marlboro maker Philip Morris International Inc’s raised buyout bid for the company. Although Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share earlier this month and called that its “best and final price”, it had been…
By Noele Illien, Oliver Hirt and John O’Donnell ZURICH (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards rich clients as the bank attempts to put years of scandals behind it, sending its shares sliding. Chairman Axel…
By Foo Yun Chee BRUSSELS (Reuters) – European anti-trust regulators are investigating Alphabet unit Google’s Google Play Store, the company said in a regulatory filing, a move that could expose the U.S. tech giant to another billion-euro fine. Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust fines following…
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) – The Biden administration expects to ink a deal with allies in the near-term to bring them on board with new U.S. rules curbing China’s access to sophisticated chipmaking tools, a senior Commerce Department official said on Thursday. This month, the Commerce Department published a sweeping set…
By Tim Hepher PARIS (Reuters) – Airbus has unveiled a wider and longer cabin for its A350 in a battle for wide-body sales against Boeing – while quietly ditching the slogan on which it waged a fierce dispute over elbow space with its arch-rival a decade ago. The two planemakers routinely go head to head…
By John McCrank NEW YORK (Reuters) – The euro briefly fell back below parity with the dollar on Thursday after the European Central Bank (ECB) raised interest rates, and U.S. data showed that the world’s biggest economy rebounded more than expected in the third quarter. The ECB raised its deposit rate by 75 basis points…
(Reuters) – S&P 500 e-minis futures jumped on Thursday, gaining sharply as data showed slightly better-than-expected U.S. economic growth in the third quarter, with a key inflation metric down from the prior quarter. Gross domestic product increased at a 2.6% annualized rate last quarter, the U.S. Commerce Department said in its advance GDP estimate, ending…
By Michael Erman (Reuters) -Merck & Co on Thursday posted better-than-expected sales and profit in the third quarter on a strong performance by its blockbuster cancer immunotherapy drug Keytruda and human papillomavirus vaccine Gardasil. Shares rose 2.6% in premarket trading as the drugmaker also raised its annual forecasts for sales and profit despite headwinds created…
