Reuters US Business

By Bart H. Meijer AMSTERDAM (Reuters) -Dutch health technology company Philips said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks. The company rocked investors last year by recalling millions of breathing devices and ventilators used to treat sleep apnea, because foam used to dampen …

Philips says tests on recalled products show limited health risks Read More »

By Supantha Mukherjee and Alexander Marrow STOCKHOLM/MOSCOW (Reuters) – When telecoms gear makers Nokia and Ericsson leave Russia at the end of the year, their departure could steadily cripple the country’s mobile networks over the long-term, setting off a deterioration in communication for everyday Russians. Five senior telecoms executives and other industry sources said Russian …

Russian mobile calls, internet seen deteriorating after Nokia, Ericsson leave Read More »

By Alexander Marrow MOSCOW (Reuters) -The rouble plunged to its weakest level since early May past 70 against the dollar on Wednesday, extending weekly losses with fears over sanctions on Russian oil and gas spooking the market. By 0713 GMT, the rouble was down 2.1% against the dollar at 70.31, after hitting 70.6775 earlier. It …

Rouble slumps past 70 vs dollar for first time since May Read More »

(Reuters) -Nike Inc beat Wall Street estimates for quarterly revenue on Tuesday, helped by persistent demand for its sneakers and sportswear in North America and Europe. Shares of the company rose marginally in extended trading. Nike reported a 30% jump in its largest market, North America, helping offset a sales slump in China after COVID-related …

Nike beats estimates for revenue on resilient sportswear demand Read More »

(Reuters) – FedEx Corp reported a sharp drop in adjusted income on Tuesday, as soft holiday season delivery demand outpaced the company’s efforts to shelter profits with cost cuts. Memphis, Tennessee-based FedEx said adjusted profit fell to $815 million, or $3.18 per share, from $1.3 billion, or $4.83 per share, for the fiscal second quarter …

FedEx profit drops as demand swoon outpaces cost cuts Read More »

By Rod Nickel and Kavya Guduru (Reuters) -TC Energy Corp has submitted its plan to restart the Keystone pipeline to U.S. regulators, a source familiar with the matter said on Tuesday, nearly two weeks after the line ruptured in the worst oil spill in the United States in nine years. The 622,000 barrel-per-day (bpd) pipeline …

TC Energy has submitted plan to restart Keystone oil pipeline after spill – source Read More »

By Sinéad Carew and Sruthi Shankar (Reuters) – The S&P 500 closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields added pressure after the Bank of Japan’s (BoJ) surprise tweak of its monetary policy. Fears about the economic impact of the Federal Reserve’s …

S&P 500 closes slightly higher after four-day sell off Read More »

By Michael S. Derby NEW YORK (Reuters) – New data from the Cleveland Federal Reserve tracking housing sector inflation suggests one of the key drivers of soaring prices could be less of a problem going forward. The bank said in a report released on Monday that it had launched new indexes tracking rental price changes …

New Cleveland Fed data points to easing shelter inflation outlook Read More »

WASHINGTON (Reuters) – BioTelemetry Inc. and its subsidiary CardioNet LLC have agreed to pay $44.9 million to resolve allegations that they knowingly submitted claims to Medicare, TRICARE, the Veterans Health Administration and the Federal Employee Health Benefits Program for heart monitoring tests that were performed, in part, outside the United States, the U.S. Justice Department …

Cardiac monitoring firms to pay more than $44 million to resolve allegations of false claims act violations -U.S. Read More »