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(Reuters) -Livent Corp on Tuesday posted a better-than-expected quarterly profit and bolstered its 2022 revenue forecast as it benefited from higher demand for lithium used in electric-vehicle batteries, sending its shares surging 14%. The Philadelphia-based company now expects annual revenue of $755 million to $835 million from its previous forecast of $540 million to $600 …

Livent beats profit estimates, raises forecast on higher lithium demand Read More »

By Dietrich Knauth (Reuters) -Washington has reached a $518 million settlement with drug distributors McKesson Corp, AmerisourceBergen Corp and Cardinal Health Inc, ending a months-long trial over the companies’ alleged role in fueling the opioid epidemic in the state. McKesson will pay $197 million, while AmerisourceBergen and Cardinal will each contribute $160.5 million to the …

Opioid distributors reach $518 million settlement with Washington state Read More »

By Devik Jain and Echo Wang (Reuters) – Wall Street stocks ended higher on Tuesday after a choppy session in which each of the major indexes fluctuated between gains and losses as a key meeting of the Federal Reserve got under way. Investors picked up shares of financials and technology companies ahead of Wednesday’s expected …

Wall Street ends higher after choppy session ahead of Fed Read More »

(Reuters) – Foreign financial aid will ensure the stability of Ukraine’s central bank reserves as the country deals with the economic shock from the Russian invasion, central bank governor Kyrylo Shevchenko said late on Monday. The central bank’s international reserves fell to $26.8 billion as of beginning of May from $28.1 billion a month earlier. …

Ukraine’s foreign reserves resilient amid war shock – central bank head Read More »

A look at the day ahead in markets from Sujata Rao. First Sweden, now Australia. Two central banks that had said they saw no need for rate hikes until 2023 or 2024 have eaten humble pie in the space of a week. Australia on Tuesday hiked rates by 25bp to 0.35%, a larger hike than markets had …

Marketmind: Humble pie on central bankers’ menu Read More »

By Federica Urso (Reuters) – Sales of Green, Social and Sustainability (GSS) bonds in Europe could total 1.6 trillion euros ($1.68 trillion) by 2026, making up almost half of all new bond issuance in the region, according to a new report released on Tuesday. The study by PwC Luxembourg draws on the accounting firm’s forecasts …

European green, social, sustainable bond sales could reach 1.6 trln euros in 2026 – study Read More »

(Reuters) – Electric carmaker Rivian Automotive Inc will receive a total of $1.5 billion in state and local incentives and tax credits for the new electric vehicle assembly plant it plans to build in Georgia, the state and company said on Monday. The $5 billion plant is expected to employ some 7,500 workers once up …

Rivian to receive $1.5 billion incentive package for new Georgia assembly plant Read More »

By David French (Reuters) – Wall Street’s main indexes closed a seesaw session higher on Monday, as investors bought in to technology names in the last hour of trading amid bets they had been overly beaten down ahead of this week’s Federal Reserve meeting. The gathering of U.S. central bank policymakers is widely expected to …

Wall Street up before Fed meet as tech buying punctuates volatile trade Read More »

By David Shepardson WASHINGTON (Reuters) -The U.S. Senate Budget Committee will hold a hearing Thursday on Amazon.com Inc’s labor practices with a key union organizer after the panel’s chair urged the White House to end federal government contracts with the retail giant over accusations of “anti-union activity.” Senator Bernie Sanders said the panel will hear …

U.S. Senate panel to hold hearing with Amazon labor leader Read More »

By Jonathan Stempel (Reuters) – Activision Blizzard Inc shares rose on Monday after Warren Buffett said his company Berkshire Hathaway Inc had taken a 9.5% stake in the video game maker, which Microsoft Corp has agreed to buy for $68.7 billion. Buffett revealed the approximately $5.6 billion investment in Activision on Saturday at Berkshire’s annual …

Activision shares rise after Buffett reveals Berkshire’s 9.5% stake Read More »