Reuters US Business

NEW YORK (Reuters) – Pfizer on Tuesday appealed a federal judge’s refusal to award the drugmaker $75.2 million from a more than decade-old insider trading settlement involving billionaire Steven A. Cohen’s former hedge fund, SAC Capital Management. The money was left over from SAC’s $602 million settlement in March 2013 with the U.S. Securities and …

Pfizer appeals denial of $75 million claim in SEC case against Cohen hedge fund Read More »

By Kalea Hall and Nora Eckert DETROIT (Reuters) -Chuck Browning, who has been a prominent leader in the United Auto Workers union and negotiated its deals with Ford Motor, is retiring, according to three sources familiar with the matter. Browning announced his retirement on Tuesday at a meeting of local union leaders in Chattanooga, Tennessee. …

Longtime UAW union officer to retire, sources say Read More »

(Reuters) – Asset manager BlackRock’s senior executive Mark Wiedman, who was touted to be a potential successor to CEO Larry Fink, is departing the firm, said two sources familiar with the matter. Wiedman will leave in the spring, said the sources, speaking on the condition of anonymity. One of the sources said Wiedman is leaving …

BlackRock executive Mark Wiedman to leave firm, sources say Read More »

BUENOS AIRES (Reuters) -Argentina’s central bank will slow the rate of the local peso’s devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation. Beginning in February, the rate, known as the crawling peg, will slow to 1% per month from …

Argentina slows peso crawling peg as inflation eases Read More »

By Nicole Jao and Shariq Khan NEW YORK (Reuters) -Colonial Pipeline, the largest U.S. fuel pipeline operator, said on Tuesday that the main artery moving gasoline from the U.S. Gulf Coast to the East Coast has been shut since Monday night due to a potential spill in Paulding County, Georgia. Line 1 was temporarily shut …

Colonial Pipeline shuts main gasoline artery after potential gasoline spill Read More »

By Ahmed Aboulenein and Amina Niasse WASHINGTON (Reuters) -The nation’s three largest pharmacy benefit managers have significantly marked up the prices of certain medicines, including for heart disease, cancer and HIV, at their affiliated pharmacies, the U.S. Federal Trade Commission said on Tuesday. From 2017 to 2022, the companies — UnitedHealth Group’s Optum, CVS Health’s …

US FTC finds major pharmacy benefit managers inflated drug prices for $7.3 billion gain Read More »

By Shariq Khan NEW YORK (Reuters) -Oil prices will be under pressure over the next two years as global production growth outpaces demand, the U.S. Energy Information Administration said on Tuesday in its Short-Term Energy Outlook report. Many analysts expect an oversupplied oil market this year, after demand growth slowed sharply in 2024 in the …

EIA expects oil prices to be under pressure from oversupply in 2025, 2026 Read More »