Author: Reuters
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US judge upholds Medicare drug price negotiation program
By Brendan Pierson (Reuters) -A federal judge in Delaware on Friday upheld a law that requires some drugmakers to negotiate prices with the U.S government’s Medicare health insurance program, rejecting a challenge by AstraZeneca to one of Democratic President Joe Biden’s signature initiatives. U.S. District Judge Colm Connolly’s decision comes the day before the British…
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As NYCB’s shares dive, options traders prepare for worse
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The latest knock to the shares of New York Community Bancorp sent traders in the options market looking for defensive positions with renewed gusto on Friday. New York Community Bancorp shares plunged 24% on Friday after it found “material weaknesses” in internal controls related to its loan…
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Europe’s STOXX 600 hits record high in strong start to March
By Ankika Biswas and Khushi Singh (Reuters) -Europe’s benchmark index hit a new record high on Friday propelled by rate-sensitive stocks, with investors continuing to cheer upbeat corporate earnings while looking past data that showed core prices remained stubbornly high. The pan-European STOXX 600 closed 0.6% up at an all-time high, logging its sixth straight…
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Exclusive-Musk’s Neuralink brain implant company cited by FDA over animal lab issues
By Marisa Taylor WASHINGTON (Reuters) – U.S. Food and Drug Administration inspectors found problems with record keeping and quality controls for animal experiments at Elon Musk’s Neuralink, less than a month after the startup said it was cleared to test its brain implants in humans, according to an agency report reviewed by Reuters. The inspectors…
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In risky space business, Intuitive Machines sets sights on second moon landing
By Joey Roulette WASHINGTON (Reuters) -Intuitive Machines and its space-cargo customers expect the company to emerge stronger from its problem-plagued moon landing this week, with improvements set for the company’s second lander after its first went where no private firm has gone before. The company’s Odysseus moon lander on Thursday ended its week-long mission near…
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WeightWatchers shares tumble as Oprah decides to exit board
By Bhanvi Satija (Reuters) -Shares of WW International, also known as WeightWatchers, took a pounding on Thursday as the company disclosed that celebrity shareholder Oprah Winfrey would exit its board later this year and donate her stock in the weight management firm. The exit of the media icon, who has been a board member since…
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New York AG opens probe into AT&T wireless outage
WASHINGTON (Reuters) – New York Attorney General Letitia James said Thursday her office is investigating the cause of last week’s AT&T wireless outage for up to 12 hours as well as the telecom firm’s response. The Federal Communications Commission is also investigating the Feb. 22 outage. AT&T said on Saturday it would provide $5…
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Bayer proposes Ubben for board seat, swaps consumer unit boss
By Ludwig Burger FRANKFURT (Reuters) – Germany’s Bayer has proposed that Jeffrey Ubben, one of Wall Street’s most prominent activist investors, be appointed as a non-executive director, it said on Thursday, as it announced a leadership change at its consumer products unit. The changeover comes as the diversified group faces a deluge of problems including…
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OPEC oil output rises by 90,000 bpd in February, survey finds
LONDON (Reuters) – The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced a new round of voluntary cuts on Nov. 30 to…
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Tesla must face race bias class action by 6,000 Black US workers
By Daniel Wiessner (Reuters) -A California state judge tentatively ruled that nearly 6,000 Black factory workers can sue Tesla as a group for the electric vehicle maker’s alleged failure to address rampant race discrimination and harassment at its Fremont plant. California Superior Court Judge Noel Wise in Oakland said in a written order issued on…