Reuters US Business

By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks finished lower on Tuesday, breaking a three-session string of record closing highs, as Federal Reserve Chair Jerome Powell said the U.S. central bank needs to balance inflation concerns with a weakening job market in its coming interest rate decisions. The Nasdaq led declines, with shares of Nvidia falling 2.8% …

Wall Street indexes end lower as investors weigh Powell comments Read More »

(Reuters) -The U.S. Food and Drug Administration has declined to approve a higher-dose version of Biogen’s drug for a rare genetic disorder that causes progressive muscle weakness, citing the need for updated technical information in the application, the company said on Tuesday. Biogen said the FDA requested revisions to the Chemistry Manufacturing and Controls module …

US FDA declines to approve higher dose of Biogen’s genetic disorder drug Read More »

By Sriparna Roy (Reuters) -Kenvue’s shares climbed 6% on Tuesday, rebounding from a record low hit in the previous session, as analysts pointed to the lack of new scientific evidence from the White House to support President Donald Trump linking the drugmaker’s popular pain reliever Tylenol to autism. Trump on Monday linked autism to childhood …

Tylenol-maker Kenvue shares bounce back, Trump claims face pushback Read More »

By Harshita Mary Varghese and Zaheer Kachwala (Reuters) -Walt Disney should shut down the ABC network rather than sell it and transfer the channel’s content to its streaming platforms to lower regulatory risks and unlock higher valuation, brokerage Needham wrote in a client note on Tuesday. The recent “FCC intervention has made owning broadcasting licenses …

Disney should shut down ABC and transfer content to streaming, brokerage says Read More »

By Promit Mukherjee and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem on Tuesday expressed concern about President Donald Trump’s attempts to pressure the U.S. Federal Reserve, saying his actions had started to hit financial markets. In his first observations on Trump’s efforts to influence Fed decision making, Macklem said the impact could …

Bank of Canada head expresses concern about Trump’s Fed actions Read More »

By Ernest Scheyder and Jarrett Renshaw (Reuters) -The Trump administration is seeking an equity stake of as much as 10% in Lithium Americas as it renegotiates terms of the company’s $2.26 billion Energy Department loan for its Thacker Pass lithium project with General Motors, two people familiar with the discussions told Reuters. The proposed stake …

Exclusive-Trump wants piece of company in charge of America’s biggest lithium mine Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -Activist investor Scott Ferguson is joining the board of Performance Food Group, the company said on Tuesday, at a time the hedge fund is urging the food distributor to consider merging with rival US Foods Holding. Less than five weeks ago, Ferguson’s Sachem Head Capital Management nominated four director …

Performance Food settles with Sachem Head, hands seat to Ferguson Read More »

(This story has been refiled to correct the headline) By Ernest Scheyder and Jarrett Renshaw (Reuters) -United States Antimony Corporation said on Tuesday it has secured a sole-source, five-year contract worth up to $245 million from the U.S. Defense Logistics Agency to supply antimony metal ingots for the defense stockpile. The new contract underscores a …

US Antimony Corp wins $245 million Pentagon contract to build defense stockpile Read More »

By Marianna Parraga HOUSTON (Reuters) -U.S. oil major Chevron is only able to export about half the crude its joint ventures produce in Venezuela with the latest rules laid out by Washington, three sources close to the matter said. The Treasury Department in late July issued a restricted authorization allowing Chevron to operate in the …

Exclusive-Chevron exports of Venezuelan oil halved under new US authorization, sources say Read More »

By Laila Kearney NEW YORK (Reuters) -Major U.S. electric utility Exelon plans to step up its push to own power plants in its Mid-Atlantic service area next year, where electricity bills are spiking in the face of rising demand and new supplies are slow to be added, CEO Calvin Butler told Reuters this week.  Exelon’s effort …

Exelon to intensify push to own Mid-Atlantic power plants, CEO says Read More »