Reuters US Business

By Dietrich Knauth (Reuters) -CVS Health Corp and Walmart Inc have agreed to pay $147.5 million to settle West Virginia’s claims over their alleged roles in the state’s opioid crisis, state attorney general Patrick Morrisey said Tuesday. CVS agreed to pay $82.5 million and Walmart agreed to pay approximately $65 million, according to the state. …

CVS, Walmart reach $147.5 million opioid settlement with West Virginia Read More »

By David Shepardson (Reuters) – United Airlines removed 25 of its Boeing 777-200 airplanes from service this week after discovering it had failed to perform required inspections on the wing leading-edge panels. The Federal Aviation Administration (FAA) said the airline had disclosed the issue to the agency after an internal audit and proposed a plan …

United cancels some flights after failing to perform some Boeing 777 inspections – FAA Read More »

By Kannaki Deka and Noel Randewich (Reuters) -Ford Motor Co’s stock tumbled over 12% on Tuesday in its deepest one-day decline in over a decade after the automaker said inflation-related costs would be $1 billion more than expected in the current quarter and that parts shortages had delayed deliveries. The stock ended at $13.09, making …

Ford stock has biggest daily drop since 2011 after inflation warning Read More »

By David French (Reuters) – Wall Street ended Tuesday lower as the eve of a U.S. Federal Reserve meeting expected to bring another large interest rate hike brought further evidence of the impact on corporate America from the inflation that the U.S. central bank wants to tame. The benchmark S&P 500 index has dropped 19.1% …

Wall Street falls as Fed, Ford forecasts, give fright Read More »

(Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf The Federal Reserve’s highly anticipated policy decision arrives later on Wednesday, with markets bracing for another big dose of tightening. The lead-up to the U.S. central bank event has been bumpy and could spell more volatility for Asian markets in the …

Here comes the main course Read More »

By Jonathan Stempel (Reuters) – McDonald’s Corp has been ordered by a U.S. judge to defend against media entrepreneur Byron Allen’s $10 billion lawsuit accusing the fast-food chain of “racial stereotyping” by not advertising with Black-owned media. In a decision on Friday, U.S. District Judge Fernando Olguin in Los Angeles said Allen could try to …

McDonald’s ordered to face Byron Allen’s $10 billion discrimination lawsuit Read More »

By Herbert Lash NEW YORK (Reuters) -The yield on two-year U.S. Treasury notes, a rough gauge of interest rate expectations, rose to almost a 15-year high on Tuesday, a day before the Federal Reserve is likely to hike rates by 75 basis points as it continues to fight inflation. The two-year is highly sensitive to …

U.S. two-year yield at almost 15-year high before Fed meeting Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The Bank of Canada on Tuesday said inflation remained “too high” even as data showed price pressures were easing off peak levels, and pledged to continue to do whatever was needed to bring it back to target. Deputy Governor Paul Beaudry, speaking to university students in …

Bank of Canada: inflation is still too high, but moving in the right direction Read More »

By Darya Korsunskaya MOSCOW (Reuters) – Russia’s economy was on track to expand by 5%-6% in 2022 had Western sanctions not derailed growth for years and ushered in a period of technological stagnation, Russian economy veteran Oleg Vyugin told Reuters. Vyugin said there had been no catastrophe, with the sweeping sanctions imposed against Moscow over …

No catastrophe, but sanctions on Moscow are working, says Russian economy veteran Read More »