By Dietrich Knauth (Reuters) -Washington has reached a $518 million settlement with drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc, ending a months-long trial over the companies’ alleged role in fueling the opioid epidemic in the state. McKesson will pay $197 million, while AmerisourceBergen and Cardinal will each contribute $160.5 million to the…
(Reuters) – Advanced Micro Devices Inc forecast second-quarter revenue above market expectations on Tuesday, betting on steady demand for its chips used in data centers and gaming consoles. A booming cloud computing market is fuelling strong sales of chips used in data centers, helping AMD overcome a weakness in its PC chip business, one of…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar slipped against a basket of currencies on Tuesday, as investors evaluated how much of the Federal Reserve’s expected move to hike rates this week and beyond was already priced in. The dollar index hit a 20-year high last week on expectations the U.S. central bank…
By Emma Farge GENEVA (Reuters) – The four main parties to negotiations on an intellectual property waiver for COVID-19 vaccines have prepared an “outcome document” for approval by the broader membership, the WTO said on Tuesday, with its chief hoping for a final deal by June. WTO director-general Ngozi Okonjo-Iweala, who has made vaccine equity…
By Nia Williams (Reuters) -Oil slipped 2% on Tuesday as demand worries due to China’s prolonged COVID-19 lockdowns outweighed support from a possible European oil embargo on Russia. Beijing, reporting dozens of new cases daily, is mass-testing residents to avert a lockdown similar to Shanghai’s over the past month. The capital’s restaurants were closed for…
By Mehnaz Yasmin (Reuters) – The cost to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup against default hit two-year highs on Monday on growing fears the U.S. Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession. Credit risks have worsened since the Ukraine crisis as some big U.S. banks…
PARIS (Reuters) – Most unions at U.S. e-commerce giant Amazon’s French arm rejected the company’s 2022 pay proposal on the final day of talks, but no immediate industrial action is planned, union representatives said. A group unions had proposed a 5% pay increase to compensate for a sharp rise in inflation in France. The company,…
By Ashitha Shivaprasad (Reuters) – Gold firmed on Tuesday, tracking a slight retreat in U.S. Treasury yields and dollar, while investors anticipated an aggressive interest rate hike from the U.S. Federal Reserve when it concludes a two-day policy meeting. Spot gold was up 0.3% to $1,869.08 per ounce by 1655 GMT. Prices had touched $1,849.90…
By Julia Payne LAGOS (Reuters) -Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said. Uche Orji, the head of NSIA, declined to comment on prices….
By Emma-Victoria Farr and Krystal Hu LONDON (Reuters) -German software firm SAP is working with investment bank Moelis & Co to sell its corporate learning software business Litmos as it seeks to streamline its operations and focus on cloud-based revenue, three sources told Reuters. The sale of California-based Litmos could fetch a valuation of more…
