(Reuters) -Pipeline and terminal operator Kinder Morgan on Wednesday posted lower-than-expected second-quarter revenue, hurt by lower commodity prices. Oil and gas prices came under pressure during the April-June quarter as rising interest rates in key economies and a slower-than-expected manufacturing and consumption recovery in China dented fuel demand. Energy output has yet not reached pre-pandemic…
(Reuters) – The U.S. has suspended federal funding to China’s Wuhan Institute of Virology (WIV) for failing to provide documentation related to concerns over biosafety protocol violations at the facility that has faced questions for years over the origins of the COVID-19 pandemic. The U.S. Department of Health and Human Services (HHS) also said it…
(Reuters) – Heritage-Crystal Clean said on Wednesday it has agreed to be acquired by private equity firm J.F. Lehman & Co for about $1.2 billion in cash, sending the waste management services company’s shares up 7.3% in extended trading. Heritage-Crystal, that provides parts cleaning and hazardous and non-hazardous waste services, said J.F. Lehman would pay…
By Brad Brooks (Reuters) -The president of Stanford University, one of the most prestigious U.S. schools, announced plans on Wednesday to resign his post after an independent review ordered by its board of trustees found flaws in his research as a neuroscientist. Marc Tessier-Lavigne said in a letter to the university community that he would…
By Chavi Mehta (Reuters) – Enterprise software provider IBM’s second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses cut tech spending. IT companies have warned of more pain as businesses striving to cut costs in the face of rising inflation snip…
WASHINGTON (Reuters) -Microsoft, which is seeking to wrap up its acquisition of game-maker Activision Blizzard, urged the U.S. Federal Trade Commission to withdraw a case against the deal that the agency had brought before an internal FTC judge, according to a motion posted to the FTC’s website on Wednesday. Microsoft and Activision on Wednesday extended…
By Hongji Kim and Phil Stewart PAJU, South Korea/WASHINGTON (Reuters) -U.S. officials scrambled on Wednesday to determine the fate of an American soldier who made an unauthorized crossing into North Korea, handing Washington a new crisis in its dealings with the nuclear-armed state. State Department spokesperson Matthew Miller told a regular briefing the Pentagon had…
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday lifted its full-year profit outlook after posting the highest ever quarterly earnings on booming demand for international travel. Its shares rose 2.4% in extended trading. Ticket sales at U.S. carriers are soaring despite rising living costs as consumers cut spending on goods in favor…
By Pete Schroeder and Chris Prentice WASHINGTON (Reuters) -The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering issues marks the latest blow for the…
By Crispian Balmer and Ryan Woo ROME/BEIJING (Reuters) – Italy put 23 cities on red alert as it reckoned with another day of scorching temperatures on Wednesday, with no sign of relief from the wave of extreme heat, wildfires and flooding that has wreaked havoc from the United States to China. The heat wave has…
