Reuters US Business

By Brendan Pierson NEW YORK (Reuters) -E-cigarette maker Juul Labs Inc agreed on Wednesday to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it unlawfully marketed its addictive products to minors. The deal, which also included Colorado, Illinois, …

Juul to pay $462 million to six US states, D.C. over youth addiction claims Read More »

By Patrick Wingrove (Reuters) -Novavax Inc cut about $50 million in costs in the first quarter of 2023 and plans to slash more, Chief Executive John Jacobs said in an interview on Wednesday. “We’re looking at everything from buildings, leases, land, headcount, and contractors, every aspect of our company and the way we work,” he …

Novavax cut $50 million in costs, plans to slash more, CEO says Read More »

By Ann Saphir (Reuters) – Directors at four of the 12 Federal Reserve regional banks did not want the quarter-percentage-point interest rate increase that the U.S. central bank delivered in March, but it was unclear whether they preferred a pause or a bigger hike, the Fed indicated in a footnote to the minutes from that …

Four Fed bank boards wanted different policy decision ahead of March hike Read More »

By Lisa Baertlein LOS ANGELES (Reuters) -The International Brotherhood of Teamsters union on Wednesday said it would not begin national contract negotiations with United Parcel Service as planned next week unless regional supplemental contracts are completed. The largest private-sector labor negotiations covering some 340,000 Teamsters-represented workers at UPS are scheduled to begin on Monday, April …

Teamsters to UPS: No national talks until regional contracts are finished Read More »

NEW YORK, April 12 (Reuters) – Short interest on the New York Stock Exchange rose 2.0 percent in late March, the exchange said on Wednesday. As of March 31, short interest rose to about 16.178 billion shares, compared with 15.868 billion shares as of March 15. Investors who sell securities short borrow shares and then …

NYSE short interest rose 2.0 percent in late March Read More »

By Bianca Flowers (Reuters) – Colorado farmers will be able to legally fix their own equipment next year, with manufacturers like Deere & Co obliged to provide them with manuals for diagnostic software and other aids, under a measure passed by legislators in the first U.S. state to approve such a law. The Consumer Right …

Colorado passes first US right to repair legislation for farmers Read More »

By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended lower on Wednesday after minutes from the Federal Reserve’s March policy meeting revealed concern among several members of the Federal Open Markets Committee (FOMC) regarding the regional bank liquidity crisis. The minutes followed a cooler-than-expected inflation report which belied stickier underlying data and cemented the …

Wall Street closes lower after Fed minutes, inflation data Read More »

By Jody Godoy and Helen Coster (Reuters) – A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits. Shareholder Robert Schwarz alleged in the lawsuit filed in …

Fox shareholder sues Rupert Murdoch, other directors over 2020 election coverage Read More »

(Reuters) -Deutsche Bank is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany’s biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations …

Deutsche Bank says cutting risks from Russian IT operations Read More »

By David Shepardson WASHINGTON (Reuters) -A major U.S. transport union on Tuesday opposed a request by Alphabet Inc’s self-driving unit Waymo and autonomous driving technology company Aurora Innovation Inc for an exemption from rules on warning devices for large semi-trucks, citing safety issues. The Federal Motor Carrier Safety Administration (FMCSA) said last month it received …

US union opposes driverless trucks waiver for Waymo, Aurora Read More »