By Arathy Somasekhar HOUSTON (Reuters) -Oil dropped by more than 1.5% on Monday after weaker than expected Chinese economic growth raised doubts over the strength of demand in the world’s second biggest oil consumer, and a partial restart of halted Libyan output also pressured prices. China’s gross domestic product (GDP) grew 6.3% year-on-year in the…
By Sam Tobin and Paul Sandle LONDON (Reuters) -Microsoft’s appeal against Britain’s block on its $69 billion takeover of Activision Blizzard was formally paused by a London tribunal on Monday, to give the parties more time to resolve the dispute. Microsoft, Activision and Britain’s competition regulator, the Competition and Markets Authority (CMA), had all asked…
By Tom Hals WILMINGTON, Delaware (Reuters) -Tesla Inc’s directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla…
By Michael S. Derby (Reuters) – Americans are increasingly getting shot down when they seek out loans, new data from the New York Fed, released Monday, said. The bank reported that in June, across a number of fronts, credit was the hardest to get in years, with fewer people seeking out loans, at least for…
By David Shepardson WASHINGTON (Reuters) – The White House on Monday urged Republicans who control the House of Representatives to drop a provision in aviation legislation that would let airlines advertise the price of tickets without including government fees and taxes and to include new consumer protections for passengers. The House is set to vote…
(Reuters) – An AMC Entertainment Holdings Inc. shareholder sued the theater chain in Delaware court on Monday, saying AMC is late in holding its annual meeting where shareholders elect members of the company’s board. Individual shareholder Kevin Barnes said in the lawsuit that AMC is required by its corporate bylaws to hold a meeting each…
By Julie Steenhuysen CHICAGO (Reuters) – An experimental Alzheimer’s disease drug developed by Acumen Pharmaceuticals targeting a novel form of the toxic protein beta amyloid in the brain passed an early safety test and will advance to a larger trial, the company said on Sunday. The drug, ACI193, was well tolerated in the first trial…
By Blake Brittain (Reuters) – Tesla sued Australian company Cap-XX in Texas federal court on Friday, claiming its supercapacitors used for storing energy in electric-vehicle batteries infringe two U.S. patents owned by a Tesla subsidiary. Tesla CEO Elon Musk pledged in 2014 not to “initiate patent lawsuits against anyone who, in good faith, wants to…
By Valerie Volcovici and David Stanway BEIJING (Reuters) -This week’s visit by U.S. climate envoy John Kerry to China after years of diplomatic disruptions could boost cooperation between the world’s two biggest greenhouse gas polluters on the key issue of methane emissions. Kerry arrived in Beijing on Sunday for talks aimed at reviving efforts by…
By Daphne Psaledakis and Anna Voitenko WASHINGTON/KYIV (Reuters) -U.S. aid chief Samantha Power on Monday announced more than $500 million in humanitarian assistance during a visit to Ukraine, where the United Nations says some 17 million people need help following Russia’s invasion. She made the aid announcement, first reported by Reuters, at the State Emergency…
