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(Reuters) -Biotech company Roivant Sciences is in talks to sell an experimental drug to treat inflammatory bowel diseases, including ulcerative colitis and Crohn’s disease, to Roche in a deal that could be valued at more than $7 billion, the Wall Street Journal reported on Thursday. The sale of the drug could be announced in the …

Roivant in talks to sell bowel disease drug to Roche in over $7 billion deal – WSJ Read More »

(This story has been corrected to read Blackstone, not BlackRock, in paragraphs 8 and 12) By Lewis Jackson SYDNEY (Reuters) – An Australian real estate investment trust (REIT) has limited how much investors can withdraw from one of its largest office funds citing challenging property conditions, in the latest sign of trouble for the embattled …

Major Australian REIT limits withdrawals from unlisted office fund Read More »

By Jody Godoy (Reuters) -Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon …

Ripple Labs notches landmark win in SEC case over XRP cryptocurrency Read More »

By Chibuike Oguh NEW YORK (Reuters) – Shares of Coinbase Global Inc surged by nearly 25% on Thursday, ahead of other cryptocurrency and blockchain-related companies, following a landmark legal victory in a closely-watched lawsuit involving blockchain company Ripple Labs Inc. A U.S. District Judge ruled on Thursday that Ripple Labs did not violate federal securities …

Coinbase leads crypto stock gains after Ripple Labs’ legal victory Read More »

By Joseph White DETROIT (Reuters) – United Auto Workers President Shawn Fain is not a shouter. When he addresses union members in Facebook videos, or appears in public, he rarely raises his voice. But what Fain tells UAW members and the language he uses to frame the union’s goals represent the most aggressive challenge in …

A US auto union president who accepts ‘no limits’ Read More »

By Luc Cohen and Hannah Lang NEW YORK (Reuters) – Alex Mashinsky, founder and former CEO of bankrupt cryptocurrency lender Celsius Network, pleaded not guilty Thursday to U.S. fraud charges that he misled customers and artificially inflated the value of his company’s propriety crypto token. Three federal regulatory agencies also sued Mashinsky and Celsius in …

Founder of crypto lender Celsius Network pleads not guilty to fraud charges Read More »

By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines CEO Ed Bastian on Thursday said travel has become the topmost priority for consumers, but capacity constraints at U.S. carriers will not let them catch up with demand for an “extended period of time,” helping sustain the post-pandemic travel boom. His comments came hours after the …

Delta says travel boom is here to stay, raises earnings forecast Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks extended recent gains to end higher on Thursday, with the Nasdaq rising more than 1% for a second straight day, as data showed the annual increase in U.S. producer inflation was the smallest in nearly three years. The data provided more evidence that inflation pressures were …

Wall St ends up, extends recent gains on cooling US inflation Read More »

(Reuters) – AI startup Nomic has raised $17 million in a new funding round from investors led by Coatue, the companies told Reuters. The investment valued New York-based Nomic AI, a team of four at the time, at $100 million, showing continued interest from VCs to bet on small teams building popular AI products. Contrary …

Open-source AI model creator Nomic raises $17 million led by Coatue Read More »

By Michael S. Derby and Ann Saphir (Reuters) -St. Louis Federal Reserve President James Bullard, a leading hawk at the U.S. central bank who pushed for aggressive interest rate hikes to curb high inflation, will leave the Fed regional bank next month to join Purdue University’s business school. Bullard, who has led the St. Louis …

Fed hawk Bullard steps down to be dean at business school in Indiana Read More »