Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Investors are stepping up pressure on companies to end the production and use of hazardous “forever chemicals” amid concerns over increasing litigation and regulatory scrutiny.More than 50 investment firms representing $10tn in assets will write on Wednesday to the world’s biggest producers of perfluoroalkyl and polyfluoroalkyl substances, known as PFAS, to demand a “time-bound phaseout plan”, increased transparency on production and greater investment in safer alternatives. This is the third year that investors such as LGIM, Aviva Investors, BNP Paribas Asset Management, Nordea and…
© Reuters. Biogen logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration (Corrects paragraphs 1 in Nov 8 story to say Biogen (NASDAQ:) cut profit forecast due to costs related to a deal, not the launch of its Alzheimer’s drug) (Reuters) -Biogen cut its annual profit forecast below Wall Street expectations on Wednesday, on higher expenses related to the recent acquisition of rare disease drugmaker Reata Pharmaceuticals (NASDAQ:). The company had said in July it would cut about 1,000 jobs, or 11% of its workforce, to lower elevated costs compared to rivals and focus on higher-growth…
© Reuters JPMorgan CEO Jamie Dimon signals inflation might not subside quickly Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:), expressed concerns about persistent inflation and the overreaction to short-term financial data in a recent interview. Speaking on El Financiero Bloomberg TV, Dimon warned that inflation might not subside quickly. The Federal Reserve is right to have paused hikes for now but “they might have to do a little bit more.” Dimon’s comments followed an unexpected cooling in consumer-price increases, which sparked optimism that the Fed’s anti-inflation efforts are effective. For over a year, Dimon has cautioned about major…
Avicanna Non-GAAP EPS of -$0.01, revenue of $6.27M
The U.S. Department of Defense confirmed Tuesday that it has intelligence suggesting Hamas is using hospitals in Gaza to conceal and support military operations and hold hostages.The confirmation comes a day after Israel Defense Forces spokesperson Rear Adm. Daniel Hagari shared a video showing a shaft leading into the ground with electrical wires that went down about 20 meters, and into a tunnel.The tunnel Hagari shared footage of led from the house of a senior terrorist to a bulletproof and explosive-proof door, showing “clear evidence” that the tunnels were connected to the Rantisi hospital that Hamas used as a base.ISRAELI…
“Green is good” has been the big business mantra for a while now. However, the corporate love affair with the idea is currently being put to the test. It’s going to take a renewed focus on hard data and quantifiable metrics to get things back on track. (Photo by Cancan Chu/GettyImages)Getty Images After a long courtship phase around all things sustainability and environmental, social and governance (ESG), where companies worked hard to burnish their sustainability credentials and portray the best versions of themselves in slick sustainability reports, advertisements and press releases, investors, customers and now regulators have stepped in and…
Federal prisoner Donovan Davis believes he is being held in prison because of discrimination and his … [+] value to the prison (Coleman Satellite Prison Camp)Getty Images Donovan Davis Jr. is a prisoner at FCI Coleman Satellite Federal Prison Camp and is expected to be released from the Federal Bureau of Prisons (BOP) on December 3, 2028. He was sentenced to 17 years in prison after he was found guilty by a jury on May 14, 2015 on one count of conspiracy to commit mail/wire fraud, one count of mail fraud, six counts of wire fraud and eight counts of…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Google chief executive Sundar Pichai took to the witness stand on Tuesday for the second time in a month, testifying in a trial over whether the company uses its popular app store to stifle competition and extract excessive fees.Epic Games, the maker of the popular Fortnite game, has argued in its lawsuit that Google has set up a thicket of contractual and technical restrictions around its Android operating system that in effect made its Play Store the only channel where users can…
© Reuters. Pedestrians walk past an electronic board displaying Nikkei share average, outside a brokerage in Tokyo, Japan, October 31, 2023. REUTERS/Kim Kyung-Hoon/File Photo By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets open on Wednesday with stocks, risk assets and investor sentiment around the world soaring after cooling U.S. inflation data on Tuesday looked to close the door on more rate hikes and pave the way for the fabled economic ‘soft landing’. Some of Tuesday’s U.S. market moves were eye-popping – two- and five-year bond yields…
© Reuters. Charter Communications settles SEC charges for $25 million over unauthorized stock buybacks Charter Communications (NASDAQ:) has settled with the U.S. Securities and Exchange Commission (SEC), agreeing to a $25 million payment over charges concerning unauthorized stock buybacks, the regulator said today. Between 2017 and 2021, Charter implemented a provision altering the amount and timing of stock repurchases after the plans took effect, which ran afoul of the SEC rules for such plans. These provisions were part of nine separate pre-approved trading programs across this four-year period. The SEC’s order highlighted that while Charter’s board had permitted specific buybacks…