FRANKFURT (Reuters) -Roche said it had abandoned certain drug development projects or acquisitions under consideration because of planned price cuts in best-selling prescription medicines in the United States. Speaking in a media call after the release of first-half results, CEO Thomas Schinecker said the Swiss group was not taking the lead on any legal action…
LONDON (Reuters) – Nestle will raise prices at a more moderate rate in the remainder of 2023, its CEO said on Thursday, as the company hit back at criticism that food manufacturers are charging more than they need to. Consumer goods companies have raised prices in the past two years in response to the impact…
By Kirsty Needham (Reuters) -U.S. Secretary of Defense Lloyd Austin said on Thursday during a visit to Papua New Guinea that the United States was not seeking a permanent base in the Pacific country but would boost the nation’s capability under a new defence agreement. Papua New Guinea (PNG) and the United States signed a…
By Richa Naidu LONDON (Reuters) -Nestle improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs. Nestle said it is narrowing its full-year organic sales growth guidance – which does not include the impact of currency movements…
PARIS (Reuters) – BNP Paribas is set to resolve a U.S. probe into employees’ use of unapproved messaging platforms, its mid-year earnings report showed on Thursday, which could see the French bank face a fine. The Securities and Exchange Commission (SEC) in 2021 began examining how Wall Street banks were keeping track of employees’ digital…
BEIJING (Reuters) – China will guide banks to boost credit in the consumer service industry, its financial regulator said on Thursday, as authorities seek to boost a flagging post-pandemic economic recovery. “Residents’ consumption capacity is insufficient and their willingness to spend is not strong, consumption of big-ticket items is weak,” an official from China’s National…
By Ariba Shahid KARACHI (Reuters) – Pakistan’s central bank will likely raise its key interest rate again on Monday to tackle persistently high inflation, giving in to pressure from the International Monetary Fund (IMF), analysts said. Pakistan must continue its monetary tightening cycle, the International Monetary Fund (IMF) said in a staff report earlier in…
By Gopal Sharma KATHMANDU (Reuters) – A Norwegian woman and her sherpa guide climbed Mount K2 in Pakistan on Thursday, their 14th highest mountain in just over three months, becoming the world’s fastest climbers to scale all peaks above 8,000 metre (26,246 feet) in the shortest time, an official of their Nepali organising company said….
By Shadia Nasralla, Ron Bousso and America Hernandez LONDON/PARIS (Reuters) -Shell and TotalEnergies reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia’s invasion of Ukraine but energy prices have dropped…
MADRID (Reuters) – Spain’s unemployment rate fell to 11.60%, a 15-year low, down from 13.26% three months earlier, data from the National Statistics Institute (INE) showed on Thursday. The unemployment rate had not been that low in Spain since the third quarter of 2008, when it was 11.23%, INE said. The number of people employed…
