Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
Officials remained firmly committed to a "patient" policy stance at their meeting earlier this month.The Fedread more
The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for...Politicsread more
AHMEDABAD, India, NEW DELHI, May 10 (Reuters) - PepsiCo Inc has formally withdrawn lawsuits against Indian farmers that the snack food and drinks maker had accused of infringing its patent by cultivating a potato variety, the company and the growers said on Friday.
PepsiCo had sued nine farmers for cultivating the FC5 potato variety, grown exclusively for its popular Lay's potato chips. The FC5 variety has a lower moisture content required to make snacks such as potato chips.
Soon after suing the farmers, PepsiCo came under political pressure from Prime Minister Narendra Modi's ruling Bharatiya Janata Party (BJP) and some of its allies who asked the U.S. company to withdraw lawsuits against potato farmers, who come from Gujarat, Modi's home state ruled by the BJP.
Bowing to pressure, PepsiCo on May 2 agreed to take its lawsuits back.
"It's a victory for us, but PepsiCo's decision to file lawsuits against the farmers has sullied their reputation and the company now must apologise," Anand Yagnik, the potato growers' lawyer told a news conference in Ahmedabad, the business hub of Gujarat.
The submission made in the court to withdraw lawsuits against the farmers "is in sync with its publicly stated position," a PepsiCo spokesman said. (Reporting by Amit Dave in AHMEDABAD and Mayank Bhardwaj in NEW DELHI Editing by Martin Howell and Louise Heavens)