Business & Finance News
British drugmaker Indivior Plc lost nearly three-quarters of its share value on Wednesday and former parent Reckitt Benckiser also fell following U.S. criminal charges accusing Indivior of illegally increasing prescriptions for its opioid addiction treatment Suboxone.
U.S. grain trader Archer Daniels Midland Co said on Wednesday it will seek voluntary early retirements by some North American employees and may eliminate individual jobs as part of a restructuring of specific areas.
Chief executives of some of the largest U.S. banks faced off with the House Financial Services committee for the first time since the financial crisis on Wednesday armed with the healthy balance sheets, but lawmakers grilled executives more on social issues than business fundamentals.
Prosecutors are planning to file criminal charges against Brazil’s miner Vale SA and its employees over the collapse of a mine-waste dam in January that killed hundreds of people, the Wall Street Journal reported, citing the lead investigator.
Tech stocks led Wall Street slightly higher on Wednesday, with investors largely shrugging off benign U.S. inflation data and unsurprising minutes from the Federal Reserve’s March meeting.
U.S. grain trader Archer Daniels Midland Co said on Wednesday it will open a voluntary retirement window for North American employees and may eliminate individual positions as part of restructuring of specific areas.
Oil futures climbed more than 1 percent on Wednesday after U.S. data showing a deep decline in gasoline stocks overrode a rise in crude inventories to 17-month highs, and as an OPEC report showed further tightening of Venezuela’s crude supply.
The euro rose and world stock markets edged higher on Wednesday amid tame U.S. inflation data and as the European Central Bank left its ultra-easy policy stance unchanged but warned that economic risks remained to the downside.
The wife of ousted Nissan boss Carlos Ghosn returned to Japan on Wednesday and intends to testify to Tokyo prosecutors, a source close to her entourage said, days after she left the country to seek help from the French government.
Chief executive officers of some of America’s largest banks, including JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc, on Wednesday testified before Congress, where they were grilled on a wide range topics.
The U.S. federal government posted a $147 billion budget deficit in March, according to data released on Wednesday by the Treasury Department.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday that U.S.-China trade talks continue to make progress and the two sides have basically settled on a mechanism to enforce any agreement reached.
Airbnb’s decision not to go ahead with excluding Jewish settlements in the West Bank from its accommodation listings Palestinian condemnation on Wednesday and accusations that it was helping to perpetuate Israeli occupation.
Saudi Aramco said on Wednesday that it raised $12 billion from its debut international bond issue, which was split into five tranches. The bonds have maturities ranging from three to 30 years.
Chief executives of some of the largest U.S. banks appeared before Congress on Wednesday, giving lawmakers their first opportunity to grill the lenders since the 2007-2009 financial crisis.
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