By Blake Brittain (Reuters) – A Delaware jury on Friday ordered Illumina Inc to pay more than $333 million to a U.S. unit of Chinese genetic analysis company BGI Genomics after finding that Illumina’s DNA-sequencing systems infringed two patents. The jury also said Illumina infringed the patents willfully, and that three patents it had accused…
By Echo Wang (Reuters) – Wall Street ended lower on Friday amid concerns about rising Treasury yields and the prospect of more Fed rate hikes. “Ninety-five percent of the driver of the market right now is long-term interest rates,” said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. The Labor…
By Karen Brettell NEW YORK (Reuters) – The dollar slipped against a basket of currencies on Friday after two volatile days as investors focused on how aggressive the Federal Reserve might be in hiking rates as it tackles rising inflation. The dollar index hit a 20-year high overnight on safe-haven demand, following Thursday’s sharp stock…
(Refiling to reflect change of company name from Smith Travel Research Inc to STR in paragraph 6) By Doyinsola Oladipo (Reuters) -With more U.S. travelers expected to take to the skies and the roads this summer as COVID restrictions ease, unbridled demand will strain capacity in the leisure and travel industry and push prices even…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth increased more than expected in April as manufacturers boosted hiring, underscoring the economy’s strong fundamentals despite a decline in output in the first quarter. Though the Labor Department’s closely watched employment report on Friday showed a moderation in wage gains last month, wage price pressures are…
By Tina Bellon (Reuters) – Lyft Inc’s choice to stay on the narrow ride-hail road worries investors as its larger rival Uber Technologies Inc explores more profitable paths, such as becoming a food delivery giant during the pandemic. Lyft shares plummeted more than 30% on Wednesday after an earnings report made investors question whether it…
By Gabriel Araujo SAO PAULO (Reuters) -Brazilian miner Vale SA said on Friday it has signed a long-term deal with Tesla Inc to supply the U.S.-based electric vehicle maker with nickel from its Canadian operations. Vale did not provide financial details on the deal and did not say how long it will last. The Brazilian…
(Reuters) – The Federal Reserve will have to raise interest rates more aggressively and risk a recession if supply chain issues don’t begin to ebb, Minneapolis Fed President Neel Kashkari said on Friday, as he reiterated that policymakers are keenly watching how far rates will have to rise above the neutral level. “We know we…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve said Friday the U.S. banking system remains strong despite heightened volatility and geopolitical risk, but cautioned them against prime brokerage services that come with heightened risk. In its latest bank supervision report, the Fed offered an upbeat take on the strength of U.S. banks, noting…
By Chris Prentice and Kanishka Singh WASHINGTON (Reuters) -Nvidia Corporation has agreed to pay $5.5 million to settle civil charges that the technology firm did not properly disclose the impact of cryptomining on its gaming business, the U.S. Securities and Exchange Commission (SEC) said on Friday. In back-to-back quarters in fiscal 2018, Nvidia failed to…
