By Raghav Mahobe and Leroy Leo (Reuters) – CVS Health Corp said on Wednesday it would pause its recent acquisition spree as it focuses on integrating purchases of healthcare service provider Signify Health and primary care provider Oak Street Health. CVS, which has a large retail pharmacy chain, and major health insurance and pharmacy benefit…
ZURICH (Reuters) -UBS Chief Executive Sergio Ermotti said on Wednesday that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June. Speaking at the Finanz ’23 conference in Zurich, Ermotti also repeated his bank’s line that all options were still on the table concerning Credit…
By Noele Illien ZURICH (Reuters) -UBS was considering the potential impact of buying struggling rival Credit Suisse as early as December, months before the takeover was hastily arranged by Swiss authorities in March, according to a regulatory filing. The filing with the U.S. Securities and Exchange Commission (SEC) also showed UBS concluded in February that…
(Reuters) – Britain’s competition watchdog said on Wednesday it was looking into Adobe Inc’s $20 billion buyout deal for cloud-based designer platform Figma to find if it could lead to “substantial lessening of competition” in the country. The move underlines regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition. UK Competition…
By Brendan O’Brien (Reuters) – New York has become the first U.S. state to pass legislation banning the use of natural gas for heating and cooking in some new buildings, a plan designed to reduce carbon emissions but opposed by industry groups as excessive and costly. Both the Democratic-led Assembly and Senate late on Tuesday…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector maintained a steady pace of growth in April as new orders increased amid a surge in exports, but businesses continued to face higher prices for inputs, indicating that inflation could remain elevated. Despite darkening clouds gathering over the economy as the lagged effects of higher…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -The World Bank’s board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, ushering in an Indian-born finance and development expert to revamp the lender to tackle climate change and other global crises. Banga, 63, was nominated for the post…
By Patricia Zengerle and David Shepardson WASHINGTON (Reuters) – U.S. Senate Democrats launched a renewed effort to stave off competition from China on Wednesday, planning legislation to boost the country’s ability to face up to the Asian powerhouse on issues from technology to security and threats to Taiwan. After passing a sweeping bill last year…
By Ananya Mariam Rajesh and Katherine Masters (Reuters) – Estee Lauder Cos Inc’s shares plunged on Wednesday after the cosmetics maker forecast weaker sales and profit for the year than previously estimated, blaming slow recovery at duty-free and travel destinations, especially in Asia. Global retailers have banked on improved demand out of Asia after China eased…
By Chris Prentice (Reuters) -Massachusetts’ highest court on Wednesday heard arguments on whether to revive a state fiduciary duty rule that was central to an enforcement action securities regulators filed against the online brokerage Robinhood. Lawyers for a Robinhood Markets Inc subsidiary and Massachusetts Secretary of State Bill Galvin argued before the state’s Supreme Judicial…
