Author: Press Room
© Reuters. FILE PHOTO: Bottles of prescription painkiller OxyContin, 40mg, 20mg and 15mg pills, made by Purdue Pharma L.D. sit on a counter at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File Photo By John Kruzel and Andrew Chung WASHINGTON (Reuters) -The U.S. Supreme Court on Monday grappled with a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from lawsuits over their role in the country’s opioid epidemic. Purdue’s owners under the settlement would receive immunity…
© Reuters. United Arab Emirates Minister of Industry and Advanced Technology and COP28 President Sultan Ahmed Al Jaber speaks during a press conference at the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 4, 2023. REUTERS/ By Gloria Dickie DUBAI (Reuters) – COP28 President Sultan Al Jaber defended his role in hosting this year’s U.N. climate summit on Monday and insisted he understood and respected the science of climate change. In a news conference, Al Jaber responded to a Dec. 3 report in the Guardian newspaper on comments he made last month on the phase-out of…
Ferguson Q1 2024 Earnings Preview
Gov. Doug Burgum of North Dakota, the wealthy former software executive who entered the presidential campaign in June hoping a back-to-basics appeal on the economy would propel him forward, dropped out of the race for the Republican nomination on Monday.Though his personal fortune could keep his campaign afloat, Mr. Burgum’s mild demeanor and resolute focus on three issues, the economy, energy and foreign policy, never caught on with a G.O.P. electorate steeped in the pugilistic flash of Donald J. Trump and the more visceral appeal of social issues.His base in tiny, remote North Dakota and a short political résumé had…
CLNKraneShares Key News Asian equities were mixed overnight as China underperformed. Health care was the worst-performing sector in Hong Kong overnight after contract research giant WuXi Biologics issued a negative medium-term growth outlook. The primary factors were the boom in COVID-related business coming to an end and less funding for smaller biotechnology companies due to higher interest rates. However, the company expects a recovery in the second half of 2024. Other contract manufacturers were also lower overnight. The company’s stock was halted for trading for the announcement. However, it is important to note that WuXi is one of the largest…
US President Joe Biden looks on during a meeting in the Oval Office of the White House in … [+] Washington, DC, on November 30, 2023. A temporary student loan forgiveness opportunity first announced by Biden last year is set to close in a few weeks. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)AFP via Getty Images A temporary federal student loan forgiveness program enacted by President Biden is about to hit a key cutoff date at the end of the month. Borrowers who need to take action in order to qualify for relief now…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Tensions in the Middle East are mounting as war rages in Gaza. There is, as always, potential for Israel’s enemies to threaten the vital Gulf shipping route through the Strait of Hormuz. This would put pressure on an oil price previously suffering little impact from the conflict.So far, maritime hostilities have been further west. Yemen’s Houthis, who are backed by Iran, attacked a US warship and three commercial vessels at the weekend. Western powers are protecting the Gulf with such assets as…
© Reuters. FILE PHOTO: SMBC Aviation Captial logo is seen displayed in this illustration taken, May 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo DUBLIN (Reuters) – The head of the world’s second largest aircraft leasing company SMBC Aviation Capital expects a shortage of new aircraft to continue until at least 2026 and possibly beyond. Aircraft manufacturers struggled to increase production after COVID-19 lockdowns and SMBC CEO Peter Barrett said recent engine difficulties have “significantly” exacerbated that challenge, notably the latest snag to hit RTX’s Pratt & Whitney Geared Turbofan (GTF) engines. Aicraft lessors are major buyers of aircraft. SMBC, which is owned…
© Reuters. United Rentals (URI) and Herc Holdings (HRI) cut at KeyBanc on moderating rental fundamentals KeyBanc Capital downgraded shares of United Rentals (NYSE:) and Herc Holdings (NYSE:) to Sector Weight from Overweight in a note Monday on moderating rental fundamentals. Analysts noted plateauing pricing in its proprietary spot rental rate scrapes and downward trends in other forward-looking nonresidential indicators. “To be clear, we maintain that the combination of secular reshoring trends and federal stimulus should support our industry thesis of the ‘big getting bigger at a faster pace,'” said the analysts. “We think that has been clearly reflected in…
© Reuters. FILE PHOTO: Estonian Navy conducts an undersea communications cable survey after a subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea was damaged, in the Gulf of Finland, October 10, 2023. Estonian Navy By Anne Kauranen HELSINKI (Reuters) – The navies of Britain, Finland and Estonia were practising subsea infrastructure protection in the Baltic Sea region on Monday together with the Finnish Border Guard, Finland’s Defence Forces said in a statement. In early October a gas pipeline linking Estonia and Finland was damaged along with three telecommunications cables in the area, which…