By Dietrich Knauth (Reuters) – Defunct talc supplier Whittaker, Clark & Daniels has filed for Chapter 11 bankruptcy, citing on Thursday a “deluge” of lawsuits alleging that its talc products caused asbestos exposure and cancer. Whittaker operated one of the largest talc and industrial compound supply and distribution businesses in the U.S. in the 1970s…
By Brad Brooks (Reuters) -A white woman whose discredited accusations against Black teenager Emmett Till led to his lynching in 1955 has died in Louisiana, according to a coroner’s report. Till’s murder in Mississippi helped ignite the Civil Rights movement, in part because his mother held an open-casket funeral, with a photo of her son’s…
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – The tech-heavy Nasdaq led a Wall Street rally on Thursday as a strong quarterly report from Facebook parent Meta Platforms Inc overshadowed concerns over slowing U.S. economic growth. Shares in Meta closed up 13.9% after touching their highest level in more than a year after…
By Sheila Dang (Reuters) -Snap Inc on Thursday missed analyst expectations for quarterly revenue as changes to its advertising platform hurt demand for ads, and warned results in the next quarter could fall below Wall Street’s targets. Shares of Snap tumbled 19% in after-market trading. The Santa Monica, California-based company, which owns photo messaging app…
By Vansh Agarwal (Reuters) -Pinterest Inc forecast second-quarter revenue growth below Wall Street estimates on Thursday, as the image-sharing platform grapples with a pullback in advertising spending, sending its shares down 13% in trading after the bell. While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain. Shares of…
By Luc Cohen NEW YORK (Reuters) – A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison on Thursday for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, 36, of Fernandina Beach, Florida, pleaded…
By Deena Beasley (Reuters) -Amgen Inc on Thursday reported lower first-quarter profit as expenses rose and a 2% increase in sales of its own drugs was offset by lower revenue from its deal to manufacture COVID-19 antibody treatments for Eli Lilly and Co. Amgen reported revenue of $6.11 billion for the quarter, down 2% from…
WASHINGTON (Reuters) – The Senate Judiciary Committee called on U.S. Supreme Court Justice John Roberts to provide details about the top court’s ethics practices, the panel’s chairman said on Thursday after the chief justice declined to attend a hearing on reports that raised questions about potential conflicts of interest. Roberts has declined a request to…
By Sheila Dang (Reuters) -Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc. Following a pandemic-led spending bonanza by advertisers who wanted to reach customers online, ad sales-reliant…
By Stephanie Kelly NEW YORK (Reuters) – The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the Inflation Reduction Act, arguing such provisions are crucial to meeting U.S. climate goals. The campaign reflects the ethanol industry’s desire to expand into aviation following…
