By Jonathan Stempel NEW YORK (Reuters) -Walgreens has settled charges by New York Attorney General Letitia James that it grossly inflated prices on at least 20 infant formula products after a recall by Abbott Labs (NYSE:ABT) led to a nationwide shortage in early 2022. The largest U.S. pharmacy chain did not admit or deny wrongdoing...
By Marc Jones LONDON (Reuters) -Paris\' \"lean\" Olympics are unlikely to do any lasting damage to France\'s finances, thanks to 95% of its venues either already being built or needing only minor refurbishment, credit rating agency S&P Global estimated in a report on Monday. The near 9 billion euro, or $10 billion, budget to host...
-- J.P. Morgan analysts encouraged investors to adopt a defensive stance towards stock markets, citing \"early signs of exhaustion” in a recent risk-on rally and the growing risk of a sharp correction in equities. While analysts noted that investor optimism remained high over a “better-than-goldilocks” outcome for the economy, market positioning now appeared skewed towards...
U.S. cryptocurrency exchange Coinbase experienced technical issues on Tuesday for a few hours as Bitcoin surged to an all-time high of $69,000. On Wednesday Asia time Bitcoin was trading down 7% at $63,000. In response to these issues, Coinbase continued to update and reassure its users throughout the recent outage: “We are aware that some...
By David Shepardson WASHINGTON (Reuters) -U.S. District Judge Adrienne Nelson on Monday set Aug. 26 as the start of a hearing on the Federal Trade Commission\'s bid for a preliminary injunction to block supermarket chain Kroger (NYSE:KR)\'s $24.6 billion deal to buy smaller rival Albertsons (NYSE:ACI). The FTC sued last month to block the deal...
Bitcoin price is climbing over 4% to hit $66,300 during the Asian session on Wednesday. This surge reflects growing investor confidence and forecasts a bullish trend in the cryptocurrency market. As Bitcoin navigates through varying degrees of volatility, its price prediction becomes a focal point for traders eyeing the digital asset’s future potential. Amidst this...
(Reuters) -Blackwells Capital said on Monday Walt Disney (NYSE:DIS) failed to tell shareholders that ValueAct Capital Management had invested more than $350 million of the U.S. entertainment giant\'s pension fund assets, creating a conflict of interest. \"ValueAct\'s management of Disney\'s pension funds is not disclosed anywhere in any of the referenced communications,\" Blackwells Chief Investment...
By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg said on Monday he expected Boeing (NYSE:BA) to cooperate in investigations by the Justice Department and National Transportation Safety Board into the Alaska Airlines 737 MAX 9 mid-air emergency on Jan. 5. \"We respect the independence of DOJ and NTSB doing their own work, but...
BlackRock’s Bitcoin ETF, IBIT, has shattered another record for daily inflows, absorbing $788.3 million from investors Tuesday alone. All that money goes straight into buying more Bitcoin (BTC), which the company holds with Coinbase and uses to directly back its shares. Less than two months after launch, BlackRock has now absorbed over $9.1 billion in...
(Reuters) -New York Community Bancorp (NASDAQ:CTBI) said on Monday it had closed the $1 billion capital infusion deal that was agreed last week with an investor group and plans to submit one-for-three reverse stock split of its common stock to shareholders. Joseph Otting, former Comptroller of the Currency in the Donald Trump administration, was named...