By Leroy Leo (Reuters) – Eli Lilly and Co deferred its timeline to complete application for accelerated approval of its experimental Alzheimer’s drug, saying it expects such an approval to make little difference with Medicare’s limited coverage terms. Shares of Eli Lilly fell 2.6% to $244.21 on Thursday, after the drugmaker said it would complete …
Eli Lilly pushes back timeline for Alzheimer’s drug application Read More »
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Sarah Bloom Raskin, President Joe Biden’s pick to be the Fed’s top bank regulator, told U.S. lawmakers on Thursday that she believes banks need strict oversight, but that it is not her job to tell them how and where to lend. Raskin was repeatedly challenged by Republicans, …
Biden nominee Raskin vows Fed will monitor climate risk, not dictate lending Read More »
By Kirstin Ridley LONDON (Reuters) -KPMG has been sued for 1.3 billion pounds ($1.77 billion) by the liquidators of Carillion for missing “red flags” during audits of the construction giant, in one of the largest claims against one of the world’s top accountants. Britain’s Official Receiver, part of the Insolvency Service, which is liquidating the …
KPMG sued for $1.8 billion over Carillion audits Read More »
By Andy Bruce and David Milliken LONDON (Reuters) -The Bank of England raised interest rates to 0.5% on Thursday and nearly half its policymakers wanted a bigger increase to contain rampant price pressures, which the British central bank warned would push inflation above 7%. In a surprise split decision, four of the nine Monetary Policy …
BoE hikes rates to fight inflation, but not by enough for 4 officials Read More »
By Pratima Desai and Zandi Shabalala LONDON (Reuters) – Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs Phasing out internal combustion engine (ICE) cars in favour of electric vehicles is part of the energy transition and efforts to cut carbon …
Electric vehicles drive up nickel, cobalt and lithium prices Read More »
By Christopher Bing and Raphael Satter WASHINGTON (Reuters) – A flaw in Apple’s software exploited by Israeli surveillance firm NSO Group to break into iPhones in 2021 was simultaneously abused by a competing company, according to five people familiar with the matter. QuaDream, the sources said, is a smaller and lower profile Israeli firm that …
Exclusive-iPhone flaw exploited by second Israeli spy firm-sources Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week as COVID-19 infections subsided, suggesting that an anticipated slowdown in job growth in January was likely temporary. The second straight weekly decline reported by the Labor Department on Thursday partially unwound the recent …
U.S. weekly jobless claims decline further as Omicron wave subsides Read More »
NEW YORK (Reuters) -Short sellers in Meta Platforms Inc were poised to increase their potential 2022 gains to more than $2 billion with the stock’s plunge on Thursday after the Facebook owner’s weak forecast. With the stock down 22.3% to $247.75 in pre-market trading on Thursday, short sellers were up $1.72 billion in mark-to-market profits, …
Short sellers up $2 billion betting against Meta Platforms in 2022 – S3 Partners Read More »
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank finally acknowledged mounting inflation risks and even opened the door a crack to an interest rate increase this year, marking a remarkable policy turnaround for one of the world’s most dovish central banks. The ECB has long argued that high inflation will …
ECB opens door to 2022 rate hike in policy turnaround Read More »
By Aditi Sebastian and Ananya Mariam Rajesh (Reuters) -Estee Lauder Cos Inc raised its annual revenue and profit projections on Thursday as price hikes and a recovery in demand for its makeup products blunt the hit from surging costs. Sales of the cosmetics maker rose in every region in the last three months of 2021 …
Estee Lauder raises annual forecasts on recovering cosmetics demand Read More »
