By Sinéad Carew and Bansari Mayur Kamdar (Reuters) -Wall Street three major indexes all retreated more than 1% on Tuesday, with weakness in megacap growth companies such as Apple Inc and the chip sector weighing most on the Nasdaq ahead of this week’s crop of economic data and remarks from Federal Reserve Chair Jerome Powell. …
Tech-heavy Nasdaq leads Wall Street lower as megacaps, chips slide Read More »
By Nate Raymond (Reuters) – A former owner of a Massachusetts compounding pharmacy whose mold-tainted drugs sparked a deadly U.S. fungal meningitis outbreak in 2012 has pleaded no contest to involuntary manslaughter charges over the deaths of 11 Michigan residents. The plea by Barry Cadden, the former president of New England Compounding Center, was announced …
Pharmacy exec in plea deal in Michigan over 2012 meningitis outbreak deaths Read More »
By Daniel Wiessner (Reuters) – Major U.S. business groups on Tuesday filed the latest lawsuit challenging a Biden administration rule that would make it more difficult for companies to treat some workers as independent contractors rather than employees. The groups including the U.S. Chamber of Commerce, the country’s largest business lobby, said in a complaint …
US trade groups sue over Biden rule on ‘gig’ work, contracting Read More »
By Brendan Pierson (Reuters) – The latest trial over claims that Johnson & Johnson’s talc products cause cancer ended in a mistrial on Tuesday, as a Florida state court jury said it could not agree on a verdict. The lawsuit was brought by Bob Sugarman, who said that J&J’s talc-based baby powder led his wife …
(Reuters) -Nordstrom forecast annual revenue and profit largely below Wall Street expectations on Tuesday, signaling a slower-than-expected rebound in demand even as consumers see some relief from easing inflationary pressures. The department store chain’s shares fell about 4% after the bell. With costs related to healthcare, restaurants and housing at elevated levels, Nordstrom joins peer …
Nordstrom’s weak 2024 forecasts overshadow strong holiday-quarter sales Read More »
By Jonathan Stempel NEW YORK (Reuters) – New York Attorney General Letitia James sued the cash advance provider Yellowstone Capital for $1.4 billion on Tuesday, saying it ran a large-scale predatory lending operation that charged “sky-high” interest rates on fraudulent loans. The complaint accused Yellowstone, now known as Delta Bridge Funding or Cloudfund, of falsely …
By Jonathan Stempel NEW YORK (Reuters) – A unit of Warren Buffett’s Berkshire Hathaway was added on Monday to a lawsuit accusing the National Association of Realtors and several brokerages of conspiring to keep real estate commissions artificially high nationwide. The complaint filed in a Kansas City, Missouri federal court adds Berkshire Hathaway Energy as …
Berkshire unit added to lawsuit over inflated real estate commissions Read More »
(Reuters) – Colombian financial conglomerate Grupo Aval posted a year-over-year rise in net profit in the fourth quarter, a securities filing showed on Tuesday, as their investment portfolio experienced positive returns in line with positive financial markets performance. Net profit came in at 82.9 billion Colombian pesos ($21.03 million), in the October through December period. …
(Reuters) -Global office rental firm IWG reported a 34% jump in annual core profit on Tuesday amid robust demand for its flexible working spaces, but remained “cautious” in its outlook, sending the shares down about 5% in early trading. Landlords have seen gradual growth in office space utilisation since mid-2023 as tenants wind back pandemic-linked …
Office rental firm IWG cautious on outlook after profit jumps 34% Read More »
(Reuters) -Four former top Twitter executives, including former CEO Parag Agrawal, have sued Elon Musk for over $128 million in combined unpaid severance, according to a lawsuit filed on Monday. The lawsuit, filed in federal court in San Francisco, is the latest in a series of legal challenges the billionaire faces after he acquired the …
Former Twitter execs sue Elon Musk for over $128 million in severance Read More »
