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Eli Lilly to invest $5 billion in new Virginia plant as pharma braces for tariffs

16 Sep 2025

By Sneha S K (Reuters) – Eli Lilly said on Tuesday it will invest $5 billion to build a manufacturing facility in Virginia, part of the drugmaker’s broader $27 billion plan to build four facilities across the United States over the next five years. The investment marks Lilly’s latest push to boost domestic drug production …

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Charlie Javice deserves 12 years prison for defrauding JPMorgan, US says

16 Sep 2025

By Jonathan Stempel NEW YORK (Reuters) -Charlie Javice, the entrepreneur convicted for defrauding JPMorgan Chase into buying her college financial aid startup Frank for $175 million, should spend 12 years in prison for her crimes, U.S. prosecutors said. In a filing late Monday night in Manhattan federal court, prosecutors said Javice’s fraud reflected “her personal …

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Fed for now avoids shock to independence after Cook ruling; Miran sworn in as governor

16 Sep 2025

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The U.S. Federal Reserve began a two-day meeting on Tuesday with a new governor on leave from the Trump administration joining the deliberations and a second policymaker at the table still facing efforts by President Donald Trump to oust her. The unusual circumstances, both historic in …

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Air Canada says flight attendants’ union requested cancellation of mediation

16 Sep 2025

(Reuters) -Air Canada said on Tuesday the union representing its flight attendants has requested a cancellation of mediation after members voted against a wage agreement earlier this month. “On Friday, September 12, 2025, CUPE asked to dispense with the mediation process and have the wage component proceed directly to arbitration,” Air Canada said. The carrier …

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Chevron, Israeli pipeline operator to kickstart new gas pipeline to Egypt

16 Sep 2025

By Shadia Nasralla and Stephanie Kelly LONDON (Reuters) – Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday. Nitzana would ease an energy crisis in Egypt, which …

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US to consider new national security tariffs on auto parts

16 Sep 2025

By David Shepardson WASHINGTON (Reuters) -The U.S. Commerce Department said Tuesday it will consider industry requests to impose tariffs on additional imported auto parts in the coming weeks on national security grounds. In May, Trump imposed 25% auto tariffs on more than $460 billion worth of imports of vehicles and auto parts annually, but has …

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MGX co-invests with Silver Lake in Altera acquisition

16 Sep 2025

DUBAI (Reuters) -MGX, an Abu Dhabi artificial intelligence investment firm and partner of Silver Lake, said on Tuesday it has joined the buyout group in acquiring a majority stake in California programmable chip business Altera, leaving Intel with a 49% holding. The size of MGX’s investment was not disclosed. “Altera provides a foundational platform for …

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US business inventories increase moderately in July

16 Sep 2025

WASHINGTON(Reuters) -U.S. business inventories increased marginally in July amid a surge in sales, government data showed. Inventories rose 0.2% after advancing by the same margin in June, the Commerce Department’s Census Bureau said on Tuesday. Inventories are a key component of gross domestic product and one of the most volatile. They increased 1.5% year-on-year. Inventories …

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Disney, Universal, Warner Bros Discovery sue China’s MiniMax for copyright infringement

16 Sep 2025

(Reuters) – Walt Disney, Comcast’s Universal and Warner Bros Discovery have jointly filed a copyright lawsuit against China’s MiniMax alleging that its image- and video-generating service Hailuo AI was built from intellectual property stolen from the three major Hollywood studios.  The suit, filed in the district court in California on Tuesday, claims MiniMax “audaciously” used the …

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