By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Charles Evans said Tuesday that he’s “comfortable” with a round of rate hikes this year that includes two 50 basis-point increases and reaches a neutral setting by year end, but he does not see the need for bigger hikes. “We should be looking for clear…
NEW YORK (Reuters) -Asset management firm T. Rowe Price plans to close to new investors its Emerging Europe Fund starting from May 9, it said in a regulatory filing this week, after marking the fund’s Russian securities down to zero last month. The $30 million fund, which invests at least 80% of its assets in…
By David French (Reuters) – The three main Wall Street benchmarks had their best days in over a month on Tuesday, with the Nasdaq closing up 2.2%, as investors responded to positive earnings and dovish comments from two U.S. Federal Reserve officials on interest rate rises. Johnson & Johnson advanced 3.1% to a second record…
By Dawn Chmielewski (Reuters) -Global streaming giant Netflix Inc on Tuesday reported losing subscribers for the first time in more than a decade and predicted more contraction in the second quarter, a rare miss for a company that has been a reliable growth engine for investors. Netflix lost 200,000 subscribers in its first quarter, falling…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar surged on Tuesday to a 20-year high against the Japanese yen, underpinned by the divergence in monetary policy between a Federal Reserve determined to keep a lid on soaring inflation and a Bank of Japan that has kept interest rates ultra-low. The greenback hit 128.97 yen,…
By Mimosa Spencer PARIS (Reuters) -Cosmetics group L’Oreal beat expections for first-quarter sales growth on Tuesday, batting away concerns about lockdowns in China and inflation as consumers snapped up high-end beauty products in its key markets. “We are not even close to experiencing a luxury down-turn, we see many people that are affluent and even…
By Dietrich Knauth (Reuters) -Alabama on Tuesday reached $276 million in settlements with Johnson & Johnson, McKesson Corp and Endo International Plc, resolving claims that the companies fueled an opioid addiction crisis, the state attorney general said. Under the settlement, drug distributor McKesson will pay $141 million to the state, while drugmakers Johnson & Johnson…
(Reuters) – Alabama on Tuesday reached $276 million in settlements with Johnson & Johnson, McKesson Corp and Endo Pharmaceutical, resolving the state’s claims that the companies fueled an opioid addiction crisis, the state Attorney General said. (Reporting by Dietrich Knauth)
WASHINGTON (Reuters) – Generic drug maker Hikma Pharmaceuticals has won U.S. antitrust approval to buy Custopharm, Inc on condition that it divest an injectable steroid, the U.S. Federal Trade Commission said on Tuesday. Hikma, which makes anesthetics, pain medications, sedatives, neuromuscular agents and other drugs, announced the deal in September as a way for it…
By Ann Saphir (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Tuesday said the Fed could raise its policy target range to 2.25%-2.5% by year end and then take stock of the state of the economy, but if inflation remains high will likely need to hike rates further. “Probably we are going beyond neutral…
