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(Reuters) -Salesforce Inc on Wednesday forecast first-quarter revenue above Wall Street estimates as pandemic-induced migration to hybrid-work models boosts demand, sending the cloud-based software provider’s shares up 10% after markets. The company also said it will increase its share repurchase program to $20 billion. Salesforce’s newly launched products as well as the Customer 360 platform and …

Salesforce forecasts upbeat quarterly revenue on cloud boost Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 and Nasdaq fell for a second straight session on Wednesday as Treasury yields jumped after manufacturing data indicated inflation is likely to remain stubbornly high, while comments from Federal Reserve policymakers supported a hawkish policy stance. The yield on 10-year notes topped 4% for the …

S&P, Nasdaq weak as manufacturing stokes Fed concerns Read More »

By Chibuike Oguh NEW YORK (Reuters) – Blackstone Inc said on Wednesday it had blocked investors from cashing out their investments at its $71 billion real estate income trust (BREIT) as the private equity firm continues to grapple with a flurry of redemption requests. BREIT said it fulfilled redemption requests of $1.4 billion in February, …

Blackstone blocked investor withdrawals from $71 billion REIT in February Read More »

By Bhanvi Satija and Patrick Wingrove (Reuters) -Eli Lilly and Co on Wednesday said it will cut list prices by 70% for its most commonly prescribed insulin products, Humalog and Humulin, beginning from the fourth quarter of this year, a move that could help millions of Americans afford their medicine. The Indianapolis-based drugmaker also will …

Lilly to cut some list prices by 70% and offer $25 insulin Read More »

(Reuters) – A panel of outside advisers to the U.S. health regulator on Wednesday backed GSK Plc’s respiratory syncytial virus (RSV) vaccine, setting it up for a race with rival Pfizer to become the first approved U.S. shot against the disease.      The Food and Drug Administration’s (FDA) advisory committee voted unanimously in favor of the …

GSK catches up with Pfizer in RSV vaccine race after FDA panel’s backing Read More »

By Tom Hals WILMINGTON, Delaware (Reuters) -McDonald’s Corp’s board cannot be sued for allowing former CEO Steve Easterbrook to keep tens of millions of dollars when the restaurant chain fired him for having a relationship with an employee, a Delaware judge ruled on Wednesday. The directors acted in good faith in 2019 when they fired …

Lawsuit dismissed over McDonald’s board’s severance pay to fired CEO Read More »

MEXICO CITY (Reuters) -Tesla Inc. will create up to 6,000 jobs at its first Mexican factory and is considering producing batteries in the center of the country as the electric vehicle maker eyes further investment, senior Mexican officials said on Wednesday. Mexico said on Tuesday Tesla had chosen the northern state of Nuevo Leon for …

Tesla plans 6,000 jobs in Mexico and eyes more investment, government says Read More »

(Reuters) -Alphabet Inc’s self-driving technology unit, Waymo, laid off 137 employees, in its second round of job cuts this year, the firm told Reuters on Wednesday, bringing total cuts for the year to 8% of its workforce. Waymo has eliminated some engineering roles as part of the cuts to “focus on commercial success,” the company …

Alphabet’s Waymo cuts more than 100 jobs in second round of layoffs Read More »

(Reuters) -Construction equipment maker Caterpillar Inc said on Wednesday it reached a tentative six-year labor agreement with a union that represents workers at its four facilities, possibly fending off a strike. Union workers had threatened to strike for wage increases, improved safety measures and better healthcare benefits once the existing six-year labor contract expires. The …

Caterpillar reaches tentative deal with union, averting possible strike Read More »

ZURICH (Reuters) -Credit Suisse on Wednesday said its Head of Personal & Business Banking, Anke Bridge Haux, is to leave the bank. Haux, who has been with the Swiss bank for 15 years, is to take on a new role as CEO of the Swiss arm of LGT Bank in November. Credit Suisse’s current chief …

Credit Suisse personal & business banking boss Haux to leave Read More »