By Jody Godoy and Mariam Sunny (Reuters) -The U.S. Federal Trade Commission is planning to sue UnitedHealth, Cigna and CVS Health over their tactics as middlemen in negotiating prices for drugs including insulin, a person familiar with the matter said on Wednesday. The three companies own the largest pharmacy benefit managers, or PBMs, which are …
US FTC to sue drug middlemen over insulin prices, source says Read More »
(Reuters) -Google parent Alphabet decided not to pursue a takeover of online marketing software company HubSpot weeks ago, a person familiar with the matter said on Wednesday. The talks between Alphabet and HubSpot never progressed to due diligence and fell apart shortly after the companies held initial discussions on a potential deal, the source said, …
Google parent Alphabet walked away from HubSpot deal weeks ago, source says Read More »
By Kanishka Singh WASHINGTON (Reuters) -The former CEO of healthcare software company SCWorx Corp was found guilty of investor fraud for falsely stating the company was becoming a major supplier of COVID-19 rapid tests early in the pandemic, the U.S. Justice Department said on Wednesday. The Justice Department said in a statement that a federal …
Former CEO of SCWorx Corp convicted of securities fraud over COVID tests Read More »
By Svea Herbst-Bayliss NEW YORK (Reuters) – Bill Ackman’s firm Pershing Square Capital Management will put $500 million into its new U.S.-listed investment holding company, the hedge fund manager said in a presentation on Wednesday. Pershing Square USA Ltd, which will trade on the New York Stock Exchange under the symbol PSUS, could raise as …
Ackman says his firm will put $500 million into Pershing Square USA Read More »
WASHINGTON (Reuters) -U.S. bank regulators fined Citigroup $136 million for failing to make adequate progress fixing data management issues the agencies identified in 2020, the Federal Reserve announced on Wednesday. The joint enforcement action from the Fed and Office of the Comptroller of the Currency (OCC) relates to “insufficient progress” Citi has made fixing data …
US regulators fine Citi $136 million for failing to address longstanding data issues Read More »
MILAN (Reuters) – Decision makers should pursue aggressive policies to bring climate change under control if they want to avoid losses in the value of global stocks that could top 50%, think-tank EDHEC-Risk Climate Impact warned in a 74-page paper published on Wednesday. WHY IT’S IMPORTANT The report aims to show investors how physical climate …
Aggressive climate action needed to preserve stocks’ value, paper says Read More »
BERLIN (Reuters) – German premium carmaker BMW on Wednesday said its second-quarter sales fell by 1.3% year-on-year to 618,826 vehicles. In its key market China, sales were 4.7% lower at 188,495 vehicles. In BMW’s home market Germany, sales dropped by 11.5% to 68,351 cars, while in the United States, they were up 1.7%, rising to …
By Arathy Somasekhar, Georgina McCartney and Laila Kearney HOUSTON (Reuters) -Oil and gas companies in Texas restarted some operations on Tuesday after Hurricane Beryl lashed the state with 80-mph (129-kph) winds, while some facilities sustained damage and power had not been fully restored. Beryl’s impact on oil and gas production was expected to be limited. …
Oil companies try to restore Texas operations after Storm Beryl Read More »
By Dietrich Knauth NEW YORK (Reuters) -Purdue Pharma on Tuesday received U.S. court approval for a 60-day freeze on lawsuits against its owners, members of the wealthy Sackler family, in its first court appearance since a landmark Supreme Court ruling upended its bankruptcy settlement. U.S. Bankruptcy Judge Sean Lane granted an injunction at a court …
Purdue Pharma secures litigation ceasefire after US Supreme Court ruling Read More »
(Reuters) -Chipotle Mexican Grill said on Tuesday that Jack Hartung, its long time veteran, would be stepping down and retiring from his role as finance chief of the company effective March 31. Adam Rymer, who has been with Chipotle for 15 years and most recently served as its vice president of finance, would be succeeding …
Chipotle Mexican Grill’s CFO Hartung to retire next year Read More »
