(Reuters) – The US Federal Trade Commission (FTC) is expected to file a lawsuit as early as Tuesday to block Amgen Inc’s $27.8 billion deal to buy Horizon Therapeutics PLC, a person familiar with the matter told Reuters. Last year, Amgen agreed to buy Horizon to strengthen its rare diseases drugs portfolio and said it…
SYDNEY (Reuters) – A measure of Australian consumer sentiment fell in May after a surprise hike in interest rates by the Reserve Bank of Australia (RBA) and a “mildly disappointing” federal budget clouded the outlook for family finances and the economy. The Westpac-Melbourne Institute index of consumer sentiment out on Tuesday slid 7.9% in May…
By Tom Hals WILMINGTON, Delaware (Reuters) -The U.S. Virgin Islands has subpoenaed Tesla Inc CEO Elon Musk for documents in its lawsuit accusing JPMorgan Chase & Co of helping enable sexual abuses by late sex offender Jeffrey Epstein. The subpoena, issued on April 28, came to light on Monday in a request by the Virgin…
By Carolina Mandl SAO PAULO (Reuters) -Bridgewater Associates, one of the world’s largest hedge funds, sold U.S. bank stocks in the first quarter as the collapse of regional lenders rattled investors, according to regulatory filings. The firm, founded by billionaire Ray Dalio, exited positions in five U.S. banking giants: JPMorgan & Co, Bank of America…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. A barrage of Chinese economic data on Tuesday will give investors a clearer picture of whether their growing fears over the health of Asia’s largest economy lately are justified. If the April snapshots of retail sales, urban investment…
(Reuters) – British electric vehicle start-up Arrival SA said on Monday it had $130 million in cash and cash equivalents at the end of March, down nearly 37% from the end of December. The company, which did not provide any details on first-quarter results in its earnings release, said it has built three vans at…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Greg Becker, former CEO of failed lender Silicon Valley Bank, apologized in congressional testimony for its “devastating” collapse while citing rising interest rates and mounting withdrawal requests as key causes of its demise. The bank was responsive to regulator concerns about its risk management and working to…
By Joey Roulette WASHINGTON (Reuters) – Elon Musk’s SpaceX has tapped NASA’s former human spaceflight boss Kathy Lueders to help oversee development of the company’s moon and Mars rocket called Starship, a person familiar with the hire said on Monday. Lueders, the second former NASA human spaceflight chief to retire and move to SpaceX in…
Raphael Bostic, the president of the Federal Reserve Bank of Atlanta, said Monday he does not expect any interest-rate cuts this year because inflation is likely to be stickier than those in markets believe, and if anything “we may have to go up”. “The appropriate policy is really just to wait and see how much…
By Foo Yun Chee BRUSSELS (Reuters) -Microsoft Corp gained EU antitrust approval for its $69 billion acquisition of Activision on Monday, in a significant boost that could prompt Chinese and Korean regulators to follow suit despite a British veto of the deal. The U.S. software giant still faces a battle to clinch a deal. It…
