Reuters US Business

By Divya Rajagopal and Akriti Sharma (Reuters) -Canada’s competition tribunal approved on Thursday Rogers Communications Inc’s C$20 billion ($14.77 billion) bid for Shaw Communications Inc, ending the companies’ 20-month-old dispute with the antitrust authority. The decision by the tribunal paves the way for closing the merger that would create the second largest telecom company in …

Canada competition tribunal rules in favor of $14.8 billion Rogers-Shaw deal Read More »

MOSCOW (Reuters) – Russia’s finance ministry on Friday said the maximum possible share of Chinese yuan in its National Wealth Fund (NWF) had been doubled to 60% as it restructures its rainy-day fund to reduce dependency on currencies from so-called “unfriendly” nations. The ministry said the permitted share of gold in the NWF would also …

Permitted share of China’s yuan in Russian wealth fund doubled to 60% -Finance Minister Read More »

By Echo Wang (Reuters) – Wall Street’s main indexes closed higher on Thursday, led by growth stocks in light trading, as U.S. unemployment data signaled the Federal Reserve’s interest rate hikes might be starting to dent labor market strength in its bid to fight inflation. All 11 S&P 500 sector indexes rose, with communication service …

Wall St ends firmer, growth stocks lead in thin trading Read More »

By Dietrich Knauth (Reuters) – A group of FTX customers from outside the United States have asked a U.S. bankruptcy judge to keep their names secret during the cryptocurrency exchange’s bankruptcy case, saying that revealing their identities could expose them to identity theft and other scams. Bankrupt companies typically reveal the names and amounts of …

FTX customers ask bankruptcy court to keep their names secret Read More »

(Reuters) -Canadian pipeline operator TC Energy Corp said on Thursday it had completed a controlled restart of its Keystone crude oil pipeline to Cushing, Oklahoma, safely returning the pipeline to service after a 21 day outage. “The Keystone Pipeline System is now operational to all delivery points,” the company said in a statement, while operating …

TC Energy says Keystone pipeline returns to service Read More »

By Jonathan Stempel NEW YORK (Reuters) -Novartis AG said on Wednesday it will pay $245 million to end antitrust litigation accusing the Swiss drugmaker of trying to delay the launch in the United States of generic versions of its Exforge hypertension drug. The settlements with so-called direct purchasers, indirect purchasers and retailers require approval by …

Novartis to pay $245 million to end antitrust cases over Exforge drug generics Read More »

(Reuters) – The process for repositioning airline crew and aircraft following storms that dramatically disrupted Southwest Airlines flights was “manual,” CEO Bob Jordan told reporters on a briefing call Thursday. Executives also said the airline would reimburse passengers whose travel was disrupted for full flight fare in addition to expenses including hotels, meals, rental cars …

Southwest says process to reposition airline crew, aircraft was “manual” Read More »

By Jonathan Stempel NEW YORK (Reuters) – Hershey Co has been sued by a consumer who accused the company of selling dark chocolate that contains harmful levels of lead and cadmium. In a proposed class action filed on Wednesday, Christopher Lazazzaro said he would not have bought or would have paid less for Hershey’s Special …

Hershey sued over chocolate containing heavy metals Read More »

(Reuters) – Senate Energy and Natural Resources Committee chair Joe Manchin on Thursday urged the U.S. Treasury to pause implementation of commercial and consumer electric vehicle tax credits. The U.S. Treasury on Thursday issued guidance that will allow automakers to take advantage of commercial vehicle tax credits for consumer leasing that do not have the …

Senator wants U.S. to pause implementation of new electric vehicle tax credits Read More »

(Reuters) – Gilead Sciences will buy all the remaining rights for an experimental cancer therapy, GS-1811, from Jounce Therapeutics for $67 million, the drugmaker said on Tuesday. The amended licensing deal will bolster Jounce’s cash resources in a challenging market for biotech companies. Shares of Jounce more than doubled to $1.68, while Gilead’s shares fell …

Gilead buys out rights to cancer therapy from Jounce for $67 million Read More »