Reuters US Business

By Dietrich Knauth NEW YORK (Reuters) – The lead negotiators for Johnson & Johnson’s proposed $8.9 billion settlement of thousands of talc lawsuits faced intense questioning in U.S. bankruptcy court on Wednesday about how much support the company has for the deal. During a multi-day court hearing in Trenton, New Jersey, attorneys for plaintiffs alleging …

Cancer plaintiffs drill down on J&J’s support for $8.9 billion talc deal Read More »

(Corrects day in first paragraph to Thursday) (Reuters) – British cinema chain operator Cineworld Group said on Thursday that a U.S. court had approved its debt restructuring plan. The company, which filed for Chapter 11 protection in the U.S. last year, said it continued to expect to emerge out of bankruptcy in July. The proposed …

US court approves Cineworld’s restructuring plan Read More »

By Jose Luis Gonzalez and Steve Gorman TRUTH OR CONSEQUENCES, New Mexico (Reuters) – A twin-fuselage jet stood ready on Thursday to carry a Virgin Galactic rocket plane with a three-man crew from Italy into the New Mexico sky for a high-altitude launch of the company’s first flight of paying customers to the edge of …

Virgin Galactic rocket plane poised for first commercial flight to edge of space Read More »

(Reuters) – China has ramped up its effort to slow the depreciation of the yuan against the dollar this week and market participants widely believe that the People’s Bank of China (PBOC) may follow up with more policy measures if the weakness persists. The PBOC set stronger-than-expected midpoint fixing rates this week and state banks …

Factbox-Policy measures China’s central bank could use to stem yuan weakness Read More »

(Reuters) -Binance’s European banking partner Paysafe Payment Solutions said on Thursday it will cease offering its embedded wallet solution to the U.S. cryptocurrency exchange across the European Economic Area (EEA) from Sept. 25. “Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few …

Binance’s European banking partner Paysafe to withdraw support Read More »

By Jack Queen (Reuters) – The Canadian Broadcasting Corporation (CBC) must face a defamation lawsuit by a U.S. charity alleging the publicly funded news outlet repeatedly aired false claims that it deceived its donors, a Washington, D.C., federal judge has ruled. U.S. District Judge Randolph D. Moss on Tuesday rejected the CBC’s bid to dismiss …

Canadian Broadcasting Corp must face WE Charity defamation lawsuit, U.S. court rules Read More »

By Matt Tracy (Reuters) – SL Green Realty Corp drew interest from several investors, including from the Middle East and Asia, for its 245 Park Ave office tower in Manhattan before striking a deal with Japanese real estate developer Mori Trust, a source familiar with the matter said. As part of the deal, which assigns …

SL Green’s Park Ave tower stake drew interest from several investors -source Read More »

By Lisa Baertlein LOS ANGELES (Reuters) – The union representing roughly 340,000 U.S. drivers, package handlers and loaders at United Parcel Service on Wednesday demanded that UPS make its “last, best, and final offer no later than June 30.” The International Brotherhood of Teamsters said it walked away from the national bargaining table in Washington, …

US Teamsters demand final contract offer from UPS Read More »

By Pete Schroeder WASHINGTON (Reuters) – Big U.S. banks sailed through the Federal Reserve’s annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook. The Fed’s “stress test” exercise showed lenders, including JPMorgan Chase, Bank of America, Citigroup, Wells …

US banks shrug off turmoil to ace Fed’s annual health checks Read More »