By Andrea Shalal WASHINGTON (Reuters) -A top White House economist on Tuesday said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. Heather Boushey, a member of the White House Council of Economic Advisers,…
By Sheila Dang (Reuters) -TikTok said on Tuesday its head of U.S. trust and safety, Eric Han, will depart the company on May 12, leaving the popular short-form video app without a key executive as it fights the threat of a ban in the U.S. TikTok, which is owned by Chinese tech company ByteDance, has…
(Reuters) – Ukrainian President Volodymyr Zelenskiy told the Washington Post in an interview published on Tuesday that the White House did not inform him about a leak of secret U.S. documents that grabbed attention around the world last month. “I did not receive information from the White House or the Pentagon beforehand,” Zelenskiy was quoted…
By Caroline Valetkevitch NEW YORK (Reuters) – Major U.S. stock indexes fell more than 1% each on Tuesday as regional bank shares tumbled on renewed fears over the financial system and as investors tried to gauge how much longer the Federal Reserve may need to hike interest rates. The Fed is expected to announce Wednesday…
By Blake Brittain (Reuters) – Vanda Pharmaceuticals Inc has sued the federal government in Washington, D.C., federal court over accusations that the U.S. Food and Drug Administration passed trade secrets about its schizophrenia drug Fanapt and sleep-disorder medication Hetlioz to generic competitors. In a complaint made public Tuesday, Vanda said the agency disclosed confidential details…
By Blake Brittain (Reuters) – Amgen Inc sued Novartis AG’s Sandoz in New Jersey federal court Monday, accusing Sandoz’s proposed versions of its multibillion-dollar bone-strengthening drugs Prolia and Xgeva of infringing several patents. Amgen asked the court to block Sandoz’s biosimilars of the drugs until its patents expire. One of the patents named in the…
By Jessica DiNapoli NEW YORK (Reuters) – Clorox Co is revamping its sales plans for its Kingsford grilling briquettes and pellets, staples at summer barbecues across the United States, after hiking prices and losing market share to competitors, an executive told Reuters on Tuesday. The Oakland, California-based company bumped up prices on Kingsford charcoal in…
By Brendan Pierson (Reuters) – A lawyer for a Florida prosecutor on Tuesday urged a federal appeals court to reinstate his client after the state’s Republican governor, Ron DeSantis, indefinitely suspended him over his pledge not to prosecute people seeking or providing abortions. “This governor punishes dissenting voices,” David A. O’Neil, a lawyer for suspended…
(Reuters) – Morgan Stanley is looking to resolve more than a year long investigation by U.S. regulators into its block trading practices, the Wall Street bank said in a filing on Tuesday. The company is engaged in discussions with the enforcement division of the U.S. Securities and Exchange Commission (SEC) and the United States Attorney’s…
By Dietrich Knauth (Reuters) – Bankrupt movie theater chain Cineworld received U.S. court approval on Tuesday to raise $2.26 billion as part of its exit from bankruptcy, after reaching a settlement with a minority faction of lenders that had opposed parts of the exit financing. Cineworld is aiming to emerge from Chapter 11 bankruptcy in…
