By Jason Lange WASHINGTON (Reuters) -The U.S. government could fall behind on its bills next month – and even default on its debt – if Congress doesn’t raise a $31.4 trillion cap on government borrowing, a failure that could trigger economic calamity and panic on global financial markets. What follows is a timeline showing how…
WASHINGTON (Reuters) – The U.S. Treasury said on Tuesday it is asking other federal agencies for greater clarity and communication on the payments they expect to make and receive in the coming days to more accurately forecast when the government will run short of cash without an increase in the federal debt ceiling. A Treasury…
By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked…
By Jonathan Stempel (Reuters) – Abbott Laboratories persuaded a federal judge to dismiss some claims in nationwide litigation over recalled baby formula. In a decision on Monday, U.S. District Judge Matthew Kennelly in Chicago dismissed claims by parents pursuing only “economic loss” claims related to Similac and other formula that they said had a “substantial…
(Reuters) -Activist investor TCS Capital Management on Tuesday urged Yelp Inc to either explore a sale or a merger with online-services company Angi Inc, sending shares of the service-recommendation site 10% higher in premarket trading. Yelp is “shockingly undervalued” and could be sold for more than twice its share price, said TCS Capital, one of…
By Svea Herbst-Bayliss NEW YORK (Reuters) – One of Diversified Healthcare Trust’s (DHC) largest shareholders is opposing the real estate investment trust’s merger with Office Properties Income Trust (OPI), saying the deal undervalues the REIT by 90% and there are better alternatives to an all-share deal. Flat Footed LLC, which holds a 7.4% stake, said…
CHICAGO (Reuters) – The judge who will decide if Amgen can go forward with its $27.8 billion purchase of Horizon Therapeutics on Tuesday said he was considering an evidentiary hearing on the matter in September. Judge John Kness said he would likely take about four weeks after the hearing ends to make a ruling. The…
(Refile to change “customer” to “consumer services” in last paragraph) By Chibuike Oguh NEW YORK (Reuters) -Private equity firm GTCR LLC has raised its largest fund ever, collecting $11.5 billion from investors to acquire companies that span the technology, healthcare, financial and consumer services sectors, it told Reuters on Tuesday. The milestone defies fundraising challenges…
By Clara Denina and Helen Reid LONDON (Reuters) – Mining firms lag far behind other sectors on female representation in top leadership, data released on Tuesday showed. S&P Global Commodity Insights’ figures highlight the industry’s struggle to improve gender equity, with women filling just 12.1% of the highest-ranking executive positions across more than 2,000 publicly-listed…
WASHINGTON (Reuters) – The United States called for the immediate release of detained Wall Street Journal reporter Evan Gershkovich on Tuesday after Russia’s security service sought to extend his detention. “He shouldn’t be detained at all. Journalism is not a crime. He needs to be released immediately,” White House national security spokesman John Kirby told…
