By Deborah Mary Sophia and Hilary Russ (Reuters) -Starbucks Corp beat Wall Street estimates on Tuesday for quarterly profits, powered by a sharp recovery in business in China, but shares fell about 6% in after-hours trading after the company did not lift its 2023 guidance. With most of China’s COVID-19 curbs now scrapped, consumer mobility …
Starbucks profits beat on China recovery, shares dive on guidance Read More »
By Joseph White and Nathan Gomes (Reuters) -Ford Motor Co on Tuesday posted robust first-quarter revenue and profit, thanks to strong demand for trucks and SUVs, but issued a measured full-year outlook tempered by continued losses in its electric-vehicle unit. In a late briefing, Ford Chief Executive Officer Jim Farley said he hopes the company …
Ford’s profit rises on strong truck demand but EV outlook weighs Read More »
By Blake Brittain (Reuters) – Amgen Inc sued Novartis AG’s Sandoz in New Jersey federal court Monday, accusing Sandoz’s proposed versions of its multibillion-dollar bone-strengthening drugs Prolia and Xgeva of infringing several patents. Amgen asked the court to block Sandoz’s biosimilars of the drugs until its patents expire. One of the patents named in the …
Amgen sues Novartis to block generic osteoporosis, bone cancer drugs Read More »
By Jessica DiNapoli NEW YORK (Reuters) – Clorox Co is revamping its sales plans for its Kingsford grilling briquettes and pellets, staples at summer barbecues across the United States, after hiking prices and losing market share to competitors, an executive told Reuters on Tuesday. The Oakland, California-based company bumped up prices on Kingsford charcoal in …
Clorox rethinks strategy on Kingsford charcoal ahead of summer grilling season Read More »
By Brendan Pierson (Reuters) – A lawyer for a Florida prosecutor on Tuesday urged a federal appeals court to reinstate his client after the state’s Republican governor, Ron DeSantis, indefinitely suspended him over his pledge not to prosecute people seeking or providing abortions. “This governor punishes dissenting voices,” David A. O’Neil, a lawyer for suspended …
Florida prosecutor suspended by DeSantis over abortion seeks reinstatement by US court Read More »
By Medha Singh and Lisa Pauline Mattackal (Reuters) -Can inherently volatile cryptocurrencies become safe-havens? Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Ownership of digital currencies in Turkey was the highest in the …
Cryptoverse: Digital coins lure inflation-weary Argentines and Turks Read More »
(Reuters) – Morgan Stanley is looking to resolve more than a year long investigation by U.S. regulators into its block trading practices, the Wall Street bank said in a filing on Tuesday. The company is engaged in discussions with the enforcement division of the U.S. Securities and Exchange Commission (SEC) and the United States Attorney’s …
Morgan Stanley in talks to resolve probes into block trading practices – filing Read More »
PRISTINA (Reuters) -Leaders of Kosovo and Serbia failed to agree on how to lower tensions in Serb-majority areas in north Kosovo, EU foreign policy chief Josep Borrell said on Tuesday, warning that any further escalation could undermine the EU-backed deal on normalising ties. In March, Pristina and Belgrade verbally agreed to implement a Western-backed plan …
Kosovo, Serbia fail to agree on lowering tensions in north Kosovo, says EU policy chief Read More »
By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS (Reuters) – Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default. Instead, fixed income, which was …
Fund managers at Milken eye fixed income as stocks, real estate lose luster Read More »
By Dietrich Knauth (Reuters) – Bankrupt movie theater chain Cineworld received U.S. court approval on Tuesday to raise $2.26 billion as part of its exit from bankruptcy, after reaching a settlement with a minority faction of lenders that had opposed parts of the exit financing. Cineworld is aiming to emerge from Chapter 11 bankruptcy in …
Cineworld gets US court approval to raise $2.26 billion after bankruptcy Read More »
