Category: Business
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Novo Nordisk confident of amycretin obesity drug launch this decade
By Maggie Fick and Jacob Gronholt-Pedersen BAGSVAERD, Denmark (Reuters) -Novo Nordisk is very comfortable it will be able to launch the pill version of its experimental weight loss drug amycretin this decade, the drugmaker’s head of development told Reuters on Friday, a day after it announced strong early trial data on it. “I never commit…
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Novo valuation surpasses Tesla on experimental obesity drug data
By Jacob Gronholt-Pedersen and Maggie Fick COPENHAGEN (Reuters) -Novo Nordisk on Thursday surpassed Tesla Inc in market valuation after the maker of the popular weight-loss drug Wegovy announced positive early trial data for a highly anticipated new obesity drug. Shares surged more than 8% to record highs, shooting Novo Nordisk up in global rankings to…
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Fed’s Powell: “Not far” from confidence needed to cut rates
By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank was “not far” from gaining the confidence it needs in falling inflation to begin cutting interest rates. “I think we are in the right place,” Powell said of the current stance of monetary policy in a hearing before…
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Powell says Fed not “remotely close” to a central bank digital currency
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell significantly downplayed the possibility of the central bank issuing its own digital currency, and said if it ever came to pass, the government would play a limited role. Testifying before Congress Thursday, Powell said policymakers were “nowhere near” taking action on adopting such a…
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Boeing discloses names of 737 MAX employees after NTSB chair faults cooperation
By David Shepardson WASHINGTON (Reuters) -Boeing on Wednesday provided U.S. regulators with the names of employees on its 737 MAX door team after lawmakers and a federal safety official sharply criticized the planemaker’s failure to do so at a Senate hearing. National Transportation Safety Board Chair Jennifer Homendy had said earlier on Wednesday that Boeing…
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House lawmaker says US ByteDance investors should urge China to allow TikTok sale
By David Shepardson WASHINGTON (Reuters) -A U.S. House Republican leading a legislative push to force China’s ByteDance to divest TikTok in the United States or face a ban says American investors should urge China to allow a sale. Representative Mike Gallagher, who chairs a House panel on China, introduced legislation on Tuesday with Representative Raja…
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Institutional investors may help bitcoin sustain new heights
By Hannah Lang, Suzanne McGee (Reuters) -As traditional institutions pour money into bitcoin, the cryptocurrency’s latest meteoric rally to a record high may have more legs than in 2021, experts say. The world’s largest cryptocurrency, notorious for its volatility, touched $69,202 on Tuesday, driven by excitement over new U.S. spot bitcoin exchange-traded funds (ETFs) and…
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Apple tweaks changes to comply with EU tech rules after criticism
By Foo Yun Chee BRUSSELS (Reuters) – Apple has modified some of its proposals to comply with landmark EU tech rules after criticism from app developers, including dropping a demand that those who want to create alternative app marketplaces must have a stand-by letter of credit. The company and five other tech giants have to…
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Factbox-The ‘Volcano group’ claiming the arson near Tesla’s German plant
BERLIN (Reuters) – A far-left militant group calling itself “Vulkangruppe Tesla Abschalten”, or “Volcano group shutting down Tesla”, has claimed responsibility for the suspected arson attack on a power pylon near Tesla’s car factory outside Berlin on Tuesday. The attack resulted in a production halt that is expected to last several days. In a letter…
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Gold carried to record high on wave of momentum with focus on US rates
By Polina Devitt and Ashitha Shivaprasad LONDON (Reuters) – Gold hit a record high on Tuesday, with growing expectation of U.S. monetary easing and continued geopolitical risk buoying activity from momentum-driven funds which could propel the precious metal further. A wider robust fundamental backdrop added support, including strong physical demand in Asia and central bank…