By Jennifer Rigby DUBLIN (Reuters) – Weight loss drug Wegovy has transformed the obesity market and pharmaceutical companies with existing treatments are hoping the resulting demand will boost demand for their older, less effective but cheaper, drugs. A weekly injection of Wegovy, which was launched in the U.S. in June 2021, leads to an average…
By Lewis Krauskopf NEW YORK (Reuters) – Strategists at some of Wall Street’s biggest banks are sounding increasingly worried about potential market fallout from the standoff over raising the U.S. debt ceiling, even as stocks continue grinding higher. The S&P 500 is up more than 9% this year and stands around its highest point since…
By Krystal Hu and Manya Saini (Reuters) -SoftBank Investment Advisers, which manages two Vision Funds, is exploring launching a private credit strategy that provides debt or debt-like structured financing for late-stage tech startups, people familiar with the matter told Reuters. The fund aims to offer liquidity options to tech startups, including some of SoftBank’s own…
By Chris Taylor NEW YORK (Reuters) – As any fan of spy thrillers knows, there is only one place to put your really valuable stuff: A safe deposit box. But even if you are not Jason Bourne – who needs somewhere to store his multiple passports, guns, and stacks of foreign cash – safe deposit…
By Kirsty Needham SYDNEY (Reuters) – Papua New Guinea (PNG) will not be used as a base for “war to be launched”, and a defence agreement with the United States prohibited “offensive military operations”, its prime minister said on Tuesday. U.S. Secretary of State Antony Blinken said on Monday a defence cooperation deal signed with…
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) said on Monday it fined LATAM Airlines Group SA $1 million after the airline and affiliates routinely failed to provide timely refunds to passengers for U.S. flights. The department said since March 2020, it received more than 750 complaints alleging LATAM, the biggest carrier in…
By Daniel Trotta and Brad Brooks (Reuters) -Seven U.S. states that depend on the overused Colorado River on Monday reached agreement to cut consumption and help save a river that provides drinking water for 40 million people and irrigation for some of the country’s most bountiful farmland. Arizona, California and Nevada will reduce intake by…
By Saeed Azhar and Shreyashi Sanyal NEW YORK (Reuters) – Wall Street finished mixed on Monday, with the Nasdaq helped by gains in Alphabet and Meta Platforms, while the S&P 500 ended near flat as investors refrained from big bets ahead of a fresh round of talks about raising the U.S. debt ceiling. U.S. President…
(Reuters) – Russia’s Foreign Ministry said on Monday that Group of Seven nuclear “rhetoric” has the sole aim of exerting psychological, military and political pressure on Moscow and Beijing. In the first ever communiqué on nuclear disarmament issued at the G7 summit last week, the group called on Russia and China to show greater transparency…
By Joyce Lee SEOUL (Reuters) -China’s ban on the use of U.S.-based Micron Technology’s chips in certain sectors, announced on Sunday, is a stark reminder of risks facing the global chip industry as it braces for escalating Sino-U.S. trade tensions. China’s move against Micron, the biggest U.S. memory chipmaker, was widely seen as retaliation for…
