Category: Business
-
Google-backed satellite to track global oil industry methane emissions
By Valerie Volcovici WASHINGTON (Reuters) – A new satellite backed by Alphabet Inc’s Google and the Environmental Defense Fund group will launch from California on Monday with a mission to pinpoint oil and gas industry methane emissions from space. The MethaneSAT sattelite will add to a growing fleet of spacecraft in orbit that are meant…
-
Apple hit with $2 billion EU antitrust fine in Spotify case, will appeal
By Foo Yun Chee BRUSSELS (Reuters) -Brussels on Monday fined Apple 1.84 billion euros ($2 billion) for thwarting competition from music streaming rivals via restrictions on its App Store, the iPhone maker’s first ever penalty for breaching EU rules. A basic penalty of 40 million euros was inflated by a huge lump sum included as…
-
Fed’s Bostic: No urgency to cut interest rates given US economy’s strength
By Howard Schneider WASHINGTON (Reuters) -The U.S. Federal Reserve is under no urgent pressure to cut interest rates given a “prospering” economy and job market, Atlanta Fed President Raphael Bostic said in remarks that highlighted the risk inflation may get stuck above the central bank’s 2% target or be sent even higher by “pent-up exuberance.”…
-
Timing is everything: Five questions for the ECB
By Dhara Ranasinghe and Stefano Rebaudo LONDON – The European Central Bank meets on Thursday, with markets eyeing any nudge towards an interest rate cut as inflation weakens. The ECB, expected to hold rates at a record 4%, is navigating a tricky path between keeping rates high long enough to contain inflation while not cutting…
-
Walgreens CEO says no plans to sell specialty pharmacy unit
(Reuters) -Walgreens Boots Alliance’s CEO rejected a media report, saying the company does not plan to sell specialty pharmacy unit Shields Health Solutions at least for now The pharmacy chain is instead looking for ways to drive “the most value” for the business, CEO Timothy Wentworth said at a conference on Monday. Bloomberg News reported…
-
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…
-
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…
-
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…
-
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…
-
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…