Reuters US Business

By Douglas Gillison (Reuters) – Nearly 170 former employees of California’s failed First Republic Bank have sued the U.S. Federal Deposit Insurance Corporation (FDIC), alleging that the regulator is improperly holding up at least $150 million in retirement funds, a plaintiffs’ attorney said on Monday. The lawsuit marks the latest fallout for the FDIC from …

Former First Republic workers sue FDIC over withheld retirement pay Read More »

By Akash Sriram, Chavi Mehta and Krystal Hu (Reuters) -Adobe on Monday shelved its $20 billion deal for cloud-based designer platform Figma, pointing to “no clear path” for antitrust approvals in Europe and the UK for what would have been among the biggest buyouts of a software startup. The cash-and-stock deal, announced in September last …

Adobe shelves $20 billion Figma deal after hitting regulatory roadblocks Read More »

By Clark Mindock (Reuters) – A jury in Washington state on Monday ordered Bayer’s Monsanto to pay $857 million to former students and parent volunteers of a school northeast of Seattle who claimed chemicals made by the company called polychlorinated biphenyls, or PCBs, leaked from light fixtures and got them sick, according to an attorney …

Monsanto hit with $857M verdict over PCBs in Washington state school Read More »

By Anna Tong Artificial intelligence company OpenAI laid out a framework to address safety in its most advanced models, including allowing the board to reverse safety decisions, according to a plan published on its website Monday. Microsoft-backed OpenAI will only deploy its latest technology if it is deemed safe in specific areas such as cybersecurity …

OpenAI outlines AI safety plan, allowing board to reverse decisions Read More »

By Yousef Saba DUBAI (Reuters) -BlackRock has agreed to invest up to $400 million in Dubai-based decarbonisation company Positive Zero through a diversified infrastructure fund, Positive Zero said in a statement on Monday. The investment will help Positive Zero, a decentralised decarbonisation infrastructure business, with its goal of boosting energy transition projects in Gulf countries, …

BlackRock to invest up to $400 million in Dubai decarbonisation firm Positive Zero Read More »

(Reuters) -Consumer goods giant Unilever on Monday said it would sell Elida Beauty, its non-core beauty and personal care division, to U.S. private equity firm Yellow Wood Partners. The financial terms of the deal, expected to be completed in mid-2024, were not disclosed. Elida’s portfolio comprises of more than 20 beauty and personal care brands …

Unilever to sell Q-Tips maker Elida Beauty to Yellow Wood Read More »

(Reuters) – Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices. “We still look for range-bound prices and only moderate price volatility in 2024. Elevated spare capacity to handle tightening …

Goldman cuts 2024 Brent price forecast on strong US supply Read More »

By Matt Tracy (Reuters) – Some investors are predicting an increase in corporate bond issuance in the New Year, after bond yields slid last week, opening the door for companies to refinance existing debt or issue new debt at lower costs. Total U.S. investment-grade corporate debt issuance in 2023 is expected to be similar to …

US corporate bond issuance seen increasing after yields slide Read More »

(Reuters) -Gene sequencing company Illumina said on Sunday it will divest cancer diagnostic test maker Grail after the companies battled both U.S. and European antitrust enforcers for more than two years and faced fierce opposition from activist investor Carl Icahn. The divestiture will be executed through a third-party sale or capital markets transaction, San Diego-based …

Illumina to divest cancer test maker Grail after antitrust battles Read More »