By Richard Francis (Reuters) -Cisco Systems Inc said on Wednesday a large backlog of products due to supply chain constraints has hit demand for new orders from customers, sending the company’s shares down 4% in extended trading. Cisco’s product orders fell 23% in the third quarter, even as the maker of routers, security services and…
By Tom Hals, Andrew Goudsward and Brendan Pierson (Reuters) -Federal appeals court judges on Wednesday appeared to express support for opponents of the abortion pill mifepristone to pursue their challenge to its U.S. approval, which has potentially far-reaching consequences for abortion access across the country. From the start of the high-stakes oral arguments before the…
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -The International Monetary Fund’s executive board on Wednesday approved a $3 billion, three-year loan program for Ghana, allowing for an immediate disbursement of about $600 million and a potential path out of the West African country’s worst economic crisis in a generation. The IMF said in…
By Aleksandra Michalska and Christine Kiernan NEW YORK (Reuters) – The world’s oldest and most complete Hebrew Bible sold for $38.1 million on Wednesday, Sotheby’s said, one of the highest prices ever for a book or document sold at auction. Wednesday’s winning bid for the Codex Sassoon was made via a donation by Alfred H….
By Jeff Mason and Kirsty Needham ABOARD AIR FORCE ONE/SYDNEY (Reuters) -U.S. President Joe Biden will arrange another summit of Pacific island leaders this year after the disappointment caused by his cancellation of a visit to Papua New Guinea due to the domestic debt ceiling crisis, his national security adviser said on Wednesday. Political analysts…
By Lisa Baertlein CHICAGO (Reuters) -The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted…
By Niket Nishant and Chibuike Oguh (Reuters) -Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp. Deposits at Western Alliance grew by more than $2 billion in the three months to May…
By Bernard Orr and Eduardo Baptista (Reuters) – China has intensified efforts to clean up the internet from false news and rumours, closing more than 100,000 online accounts over the past month that misrepresented news anchors and media agencies, its cyberspace regulator said. The Cyberspace Administration of China (CAC) launched a special campaign to clean…
By Kirsty Needham and David Brunnstrom SYDNEY/WASHINGTON (Reuters) – The United States and Palau agreed on Wednesday to renew a key strategic pact, part of U.S. efforts to shore up support among Pacific island states to counter competition from China, even as President Joe Biden called off a historic stop in the region. The two…
By Jody Godoy (Reuters) – Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes…
