By Zaheer Kachwala and Stephen Nellis (Reuters) -Chipmaker ON Semiconductor Corp on Monday forecast third-quarter revenue above market estimates on optimism that strong demand from the automotive sector will offset broader weakness in the semiconductor industry. Shares of the Arizona-based company were up more than 3.4% to $108.68 by midday after gaining 68.5% so far…
By Gram Slattery ROCHESTER, New Hampshire (Reuters) – U.S. Republican presidential candidate Ron DeSantis took an aggressive swipe at China, railed against what he described as corporate bailouts, and said he would rein in the Federal Reserve in an economic policy speech on Monday. The speech contained relatively few new concrete policy proposals, but underlined…
By Dietrich Knauth NEW YORK (Reuters) – The U.S. Department of Justice on Friday asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits. An appeals court rejected a proposed delay earlier this week, ruling that Purdue may proceed with a bankruptcy…
(Reuters) – The U.S. National Institutes of Health (NIH) said on Monday that it had launched mid-stage clinical trials to test at least four treatments, including Pfizer’s Paxlovid, in patients with symptoms of long COVID. The studies are designed to evaluate multiple therapies, where the first part of trial will test a longer dosing regimen…
AMSTERDAM (Reuters) – A burning car carrier off the Dutch coast has been towed to a new location away from shipping lanes as part of an operation to salvage the ship, the Dutch public works and water management ministry and local media said on Monday. The freighter, which was travelling from Germany to Egypt when…
By Jonathan Stempel NEW YORK (Reuters) -The U.S. Securities and Exchange Commission has charged online entrepreneur Richard Heart with illegally raising more than $1 billion in three unregistered cryptocurrency offerings, and defrauding investors out of $12.1 million to buy luxuries including the world’s largest black diamond. In a complaint filed on Monday in Brooklyn federal…
(Reuters) – Archer Aviation shares jumped as much as 33% on Monday after the air taxi maker entered into a deal to provide up to six of its “Midnight” aircraft to the U.S. Air Force. The deal, worth up to $142 million, includes delivery of vertical takeoff and landing (eVTOL) aircraft, pilot training, development of…
By Giuseppe Fonte and Antonella Cinelli ROME (Reuters) -Italy’s economy performed surprisingly poorly in the second quarter, data showed on Monday, offering an uncomfortable outlook for Prime Minister Giorgia Meloni as her government tries to tackle the negative impact of high inflation. Gross domestic product (GDP) contracted by 0.3% on a quarterly basis between April…
MILAN (Reuters) – Pirelli investors on Monday approved a new board for the tyremaker, giving it a new three-year governance set-up after the Italian government last month took steps to curb the influence of the company’s leading Chinese investor. Andrea Casaluci, previously General Manager Operations, has been promoted to CEO, Pirelli said in a statement….
(Reuters) – The U.S. government said on Monday it would trial a new payment program for people who provide dementia care coordination services for patients covered by the Medicare health plan. The program includes services such as personalized assessments, care plans for patients as well as 24/7 access to a support line. Medicare said the…
