(Reuters) – Shares in Johnson & Johnson were down 4.1% on Monday and looked set for their biggest one-day percentage loss since June 2020 after a U.S. judge shot down its second attempt to resolve tens of thousands of talc-related lawsuits. Johnson & Johnson has now failed twice to resolve talc suits by offloading the …
J&J shares on track for biggest daily drop in 3 years on talc setback Read More »
By Dietrich Knauth NEW YORK (Reuters) – The U.S. Department of Justice on Friday asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits. An appeals court rejected a proposed delay earlier this week, ruling that Purdue may proceed with a bankruptcy …
US asks Supreme Court to delay Purdue Pharma bankruptcy settlement Read More »
(Reuters) – The U.S. Securities and Exchange Commission (SEC) had asked Coinbase to stop trading in all cryptocurrencies except bitcoin before suing the cryptocurrency platform in June, the Financial Times reported on Monday, citing CEO Brian Armstrong. “We really didn’t have a choice at that point. Delisting every asset other than bitcoin, which by the …
Before suing Coinbase, SEC asked it to trade only in bitcoin -FT Read More »
By Nicholas P. Brown (Reuters) – Warner Bros’ “Barbie” showed no signs of slowing down in its second weekend at the box office, and was set to haul in $93 million in ticket sales Friday through Sunday, according to estimates from media analytics firm Comscore. Director Greta Gerwig’s take on “Barbie” – the year’s No. …
‘Barbenheimer’ box office sales keep rolling in second weekend Read More »
By Giulio Piovaccari MILAN (Reuters) – Lamborghini could sell 10,000 cars this year for the first time, its CEO said, as the luxury sports carmaker reported a rise in profit and revenues for the first half. The Italian brand, a subsidiary of Germany’s Volkswagen, sold 5,341 cars between January and June, up 4.9% on the …
Lamborghini could hit 10,000 sales this year, CEO says Read More »
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) – Markets have high hopes for a soft landing for the economy, with bonds and equities rallying. Yet a sharp drawdown in the excess savings created by COVID-19 could be a curve ball that slams into bullish sentiment. The cash piles households built up during the lockdowns …
Analysis-Dwindling excess savings could scupper markets’ soft-landing hopes Read More »
By Nicholas P. Brown (Reuters) – A giant, glowing X marks the San Francisco spot where Elon Musk says he plans to keep his company, the messaging platform X, formerly known as Twitter. But city officials and some residents are unhappy with the display. On Friday, the company erected an “X” logo on the roof …
Musk draws heat from San Francisco over giant X logo Read More »
By David Randall NEW YORK (Reuters) -A resilient U.S. economy and expectations of a nearing peak in the Federal Reserve’s monetary policy tightening cycle are emboldening stock investors, even as worries persist over rising valuations and the potential for inflation to rebound. The S&P 500 is up nearly 19% this year after gaining around 1% …
Hopes of ‘Goldilocks’ economy, rate peak buoy US stocks Read More »
(Corrects to remove erroneous Refinitiv Instrument Code) (Reuters) -Cryptocurrency exchange Kraken said on Sunday that issues with cryptocurrency Ethereum’s funding gateway have been resolved. “All systems operational,” Kraken said on its status page, without giving details on what caused the issue. Kraken had said early on Sunday that it was investigating an issue with the …
Kraken says all systems operational after issue with Ethereum funding gateway Read More »
DUBAI (Reuters) – Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10% stake in Brazil’s base metals company Vale, it said in a bourse statement on Sunday, as part of a strategy to invest in global mining assets. Ma’aden, through Manara, its joint venture established with the Public Investment Fund, on …
Saudi Arabia’s Ma’aden to acquire 10% of Brazil base metals firm – statement Read More »
