Reuters US Business

By Yadarisa Shabong (Reuters) -AstraZeneca said on Friday its Alexion unit had agreed to buy U.S. drugmaker Pfizer’s early-stage rare disease gene therapy portfolio for up to $1 billion, plus royalties on sales, as the British drugmaker bets on new genetic therapies. The British company also said Sharon Barr, head of research and development at …

AstraZeneca’s rare disease arm in $1 billion deal for Pfizer gene therapies Read More »

FRANKFURT (Reuters) – Big euro zone firms are recording stagnating activity levels and see no improvement in the current quarter with risks tilted towards even more negative outcomes, the European Central Bank said on Friday based on a survey of large firms. The survey adds to an already gloomy picture with a raft of indicators …

Euro zone firms see stagnating activity ahead: ECB survey Read More »

FRANKFURT (Reuters) – Core inflation in the euro zone will come down more slowly than previously thought as wage growth is seen picking up in a tight labour market, a European Central Bank survey showed on Friday. The latest Survey of Professional Forecasters (SPF) was presented to ECB policymakers this week as they decided to …

ECB survey points to stickier underlying inflation Read More »

MEXICO CITY (Reuters) -Walmart’s Mexico unit on Thursday posted a 5% year-on-year rise in its second-quarter net profit, boosted by slightly higher sales. Walmart de Mexico, the biggest retailer in Mexico, posted a net profit of 11.44 billion pesos ($668 million). Quarterly revenue at the chain rose 9.25% from the year-ago period to reach 213.724 …

Walmart in Mexico posts slightly higher profit amid sales uptick Read More »

By Dietrich Knauth NEW YORK (Reuters) -Bankrupt Lordstown Motors must face trial over a rival carmaker’s claim that Lordstown vehicles include stolen technology, a U.S. judge ruled Thursday, dealing a blow to the company’s hopes for a quick bankruptcy sale. The automaker, named after the Ohio town where it is based, filed for bankruptcy in …

Lordstown Motors stalls on the road to a quick bankruptcy sale Read More »

(Reuters) – T-Mobile US topped Wall Street expectations for quarterly wireless subscriber additions on Thursday, as cost-conscious customers flocked to its cheaper plans and superior 5G services in a highly competitive market. The U.S. wireless carrier has been taking the lion’s share of subscribers in the last three quarters, thanks to its discounted bundles and …

T-Mobile posts highest Q2 subscriber adds in eight years, beating estimates Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -Shares of home and kitchen product maker Tupperware extended their sharp, unexplained gains on Thursday, rising more than 50% and putting the stock up nearly 350% during the last five trading days despite recent concerns about its business. The manufacturer’s stock rose as high as $3.75, its highest level …

Tupperware’s stock extends recent rally, up 350% in 5 trading days Read More »

(Reuters) – Ticketmaster parent Live Nation Entertainment beat Wall Street estimates for second-quarter revenue on Thursday, helped by high prices of concert tickets and pent-up demand after the pandemic. Surging demand for long-awaited tours by artists like Taylor Swift and Beyonce has driven up ticket prices, with supply falling short at times despite the addition …

Ticketmaster parent Live Nation’s revenue surges on red-hot concert demand Read More »

(Reuters) – Singapore’s Keppel Corp on Thursday posted a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine unit and strong performance from the infrastructure business. Net profit for the first-half ending June 30 rose to S$3.63 billion ($2.75 billion) from last year’s …

Singapore’s Keppel logs over seven-fold jump in first-half profit Read More »