(Reuters) – Whirlpool Corp reported a 29.5% slide in quarterly profit on Monday as persistent inflation hit consumer spending, weakening demand for its washing machines and kitchen appliances. Shares of the home appliances maker dropped nearly 2% after the bell. Consumers are cutting back on discretionary spending as a series of interest-rate hikes over the…
NEW YORK (Reuters) – Drugmaker Pfizer Inc said over 30 drugs, including injections of painkiller fentanyl and anesthetic lidocaine, may see supply disruption after a tornado destroyed a warehouse at its Rocky Mount, North Carolina, plant last week. The company sent a letter late last week to its hospital customers saying it had identified around…
By Raphael Satter WASHINGTON (Reuters) -The FBI improperly conducted warrantless searches for information about a U.S. senator and two state officials, a U.S. intelligence agency revealed on Friday, as lawmakers are weighing whether to renew the surveillance power that makes such searches possible. The names of the U.S. senator, the state senator and the state…
By Blake Brittain (Reuters) -Alphabet’s Google violated a software developer’s patent rights with its remote-streaming technology and must pay $338.7 million in damages, a federal jury in Waco, Texas decided on Friday. The jury found that Google’s Chromecast and other devices infringe patents owned by Touchstream Technologies related to streaming videos from one screen to…
By Foo Yun Chee (Reuters) -Adobe’s $20 billion bid for cloud-based designer platform Figma will face a full-scale EU antitrust investigation following EU regulators’ preliminary review, people familiar with the matter said on Monday. The move underscores antitrust watchdogs’ wariness of tech deals where bigger companies may acquire rival start-ups to shut them down. An…
By Samrhitha A and David Shepardson (Reuters) – AT&T investors will watch out on Wednesday for comments from top management on the telecom firm’s financial and legal liability for the lead-clad cables it abandoned decades ago that may have contaminated soil and water sources across the United States. The $100-billion company last week said lead-clad…
By Ellen Zhang and Kevin Yao BEIJING (Reuters) -China’s top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand, signalling more stimulus steps. The world’s second-largest economy grew at a frail pace in the second quarter as demand weakened at home and…
By Kanishka Singh WASHINGTON (Reuters) – U.S. President Joe Biden would veto Republican-backed defense, health and agriculture spending bills if he were presented with them, the White House said on Monday, alleging House of Representatives Speaker Kevin McCarthy was backing away from spending levels agreed to in a debt-limit deal. McCarthy and House Republicans were…
By Ted Hesson WASHINGTON (Reuters) – The U.S. Department of Justice intends to take legal action over floating barriers installed by the state of Texas in the Rio Grande River that blocks migrants crossing from Mexico, according to a DOJ letter to top Texas officials. The letter sent on Thursday to Republican Governor Greg Abbott…
By Mrinmay Dey and Michelle Conlin (Reuters) -Twitter Inc owner Elon Musk on Sunday signaled he would do more to take the social media company in a new direction with a rebranding that will replace its well-known blue bird logo with an X after acknowledging advertisers have been slow to return. The change, which was…
