ZURICH (Reuters) – The chairman of Swiss drugmaker Novartis expects Alcon to be valued at between $20 billion and $30 billion when the opthalmic devices unit is spun off to shareholders next year, he said in an interview with Finanz und Wirtschaft.
Indonesia’s state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia’s eastern-most province of Papua, Grasberg, the world’s second-largest copper mine, is owned and operated by Freeport Indonesia (PTFI), a subsidiary of U.S.-based Freeport McMoRan Copper & Gold Inc. (FCX.N). Global miner Rio Tinto has a joint venture with Freeport for a 40 per cent share of Grasberg’s production above specific levels until 2021, and 40 per cent of all production after 2021. …read more […]
LeBron James posted a video of himself jumping off a cliff while on a Caribbean vacation with his family. James told the Cleveland Cavaliers on Friday that he will not exercise his $35.6 million contract option for next season, making him an unrestricted free agent on Sunday when NBA teams can begin negotiations with players before signing them on July 6. By declining his option, James positioned himself to be able to choose where he’ll play next and Cleveland, his basketball home for 11 of the past 15 seasons, remains a strong possibility. …read more […]
(Reuters) – A Missouri appeals court on Friday threw out a $55 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using talc-based products, including J&J’s baby powder, citing a U.S. Supreme court ruling on where such cases can be brought.
Bitcoin’s meteoric rise last year had many observers calling it one of the biggest speculative manias in history. The cryptocurrency’s 2018 crash may help cement its place in the bubble record books. Down about 70 percent from its December high after sliding for a fourth straight day on Friday, Bitcoin is getting ever-closer to matching the Nasdaq Composite Index’s 78 percent peak-to-trough plunge after the U.S. dot-com bubble burst. …read more […]
BEIJING (Reuters) – Growth in China’s manufacturing sector slowed in June after a better-than-expected performance in May, official data showed, as escalating trade tensions with the United States fuel concerns about a slowdown in the world’s second-biggest economy.
Amazon wants you to deliver its packages for them. The online retailer launched a new program this week that helps people in the United States start their own businesses delivering Amazon packages. The move gives Amazon another way to ship its packages to shoppers besides relying on UPS, FedEx and other package delivery services. …read more […]
(Reuters) – General Motors Co warned on Friday that higher tariffs on imported vehicles under consideration by the Trump administration could cost jobs and lead to a “a smaller GM” while isolating U.S. businesses from the global market.
Comcast Corp said on Friday services interrupted by two separate incidents of fiber cuts at its network providers were being restored. Comcast said the two network providers were CenturyLink Inc and Zayo Group Holdings Inc. “While the CenturyLink network continues to operate normally, on June 29, we experienced two isolated fiber cuts in North Carolina affecting some customers that by themselves did not cause the issues experienced by other providers,” CenturyLink said. …read more […]
ABOARD AIR FORCE ONE (Reuters) – President Donald Trump said on Friday his administration’s investigation into whether to increase tariffs on cars from the European Union and other trading partners would be completed in three to four weeks.
SAN FRANCISCO (Reuters) – As Toys “R” Us Inc stores across the United States marked their final day in business on Friday, the bankrupt toy retailer posted a farewell message to customers on its website next to an image of its iconic Geoffrey the Giraffe mascot thanking them and urging them to “Play on!”
Your dog could cost more than your house. …read more […]
NEW YORK (Reuters) – Wall Street’s major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed.
WASHINGTON (Reuters) – This year’s Federal Reserve stress test results suggested a more flexible approach, a further sign the regulator’s new leadership is responding positively to a Wall Street push for pragmatic bank supervision, analysts and lawyers said.
(Reuters) – Apple Inc is rebuilding the widely used mapping application on its iPhones from the ground up with its own dataset, but Amsterdam-based TomTom NV will continue to be a data provider for Apple’s maps app, Cupertino, California-based Apple told Reuters on Friday.
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