LONDON, Sept 22- Confident it can crack the $300 billion U.S. clothing and shoes market where many other foreign retailers have failed, Britain's Primark is ready to raise its bet on the country by securing new sources of fast fashion in central America. Primark, whose trendy clothes at rock-bottom prices have taken UK shoppers by storm, opened in Boston in 2015 and...
*Advances in human biotech paved way for pet products. Sept 19- For Jessica Lescault there is no question that her 6- year old English bulldog "Moose" deserves cutting-edge biotechnology cancer treatment as much as any human patient. "Pets are your loved ones, pets should be your family, pets are not something you keep on a chain in the backyard," the intensive-care...
Sept 17- Oxycontin maker Purdue Pharma LP on Tuesday told a bankruptcy judge it hopes to broaden support for a proposed settlement of more than 2,600 lawsuits alleging that the company fueled the U.S. opioid crisis. Bankruptcy Judge Robert Drain in White Plains, New York that the case was an opportunity to end a "chaotic maelstrom" of litigation.
*Oil drops on report Trump weighed easing Iran sanctions. NEW YORK, Sept 11- A gauge of global equity markets climbed on Wednesday on signs of gradual progress in the trade war between the United States and China, while bond yields rose as investors remained unconvinced what stimulus measures the European Central Bank will provide at its meeting on Thursday.
*Oil drops on report Trump weighed easing Iran sanctions. NEW YORK, Sept 11- A gauge of global equity markets climbed on Wednesday, amid small signs of progress in the trade war between the United States and China, while bond yields rose as investors remained unsure what stimulus measures the European Central Bank will provide at its Thursday meeting.
Sept 6- Mallinckrodt plc said on Friday it had agreed to pay $24 million in cash to two counties in Ohio, to settle lawsuits related to an ongoing multidistrict opioid litigation in the United States. Last month, Endo International Plc agreed to pay $10 million and Allergan Plc agreed to pay $5 million to the same two Ohio counties, Cuyahoga and Summit, to avoid going...
NEW YORK/ TORONTO, Sept 4- Slowing global economies, the escalating trade war between Washington and Beijing and a warning sign of recession flashing in the U.S. Treasury market have all fed expectations the Federal Reserve is poised to lower rates at the close of its Sept. 17-18 meeting. John Williams, president of the hugely influential New York Federal Reserve,...
Aug 27- OxyContin maker Purdue Pharma LP and its owners, the Sackler family, are in discussion to settle more than 2,000 opioid lawsuits against the company for $10 billion to $12 billion, two people familiar with the matter said on Tuesday. Purdue is among several drugmakers and distributors that have been sued for fueling an opioid addiction crisis in the...
*U.S. to sell $41 bln 5- year notes, $18 bln FRN on Wednesday. NEW YORK, Aug 27- The U.S. yield curve inversion deepened on Tuesday to levels not seen since 2007, rekindling fears of a looming recession that spurred a sell-off on Wall Street and stoked even more safe-haven demand for government bonds. The Treasury Department sold its latest two-year, fixed-rate note...
Similarly Cleveland Fed Bank President Loretta Mester, whose directors joined those of New York, Boston, Atlanta, Richmond and Kansas City in wanting the discount rate to be left at its then-current 3%, said earlier this month that she opposed the Fed's July rate cut. Boston Fed President Eric Rosengren and Kansas City Fed President Esther George dissented...
DIRECTORS OF NEW YORK, BOSTON, CLEVELAND, ATLANTA, KANSAS CITY, RICHMOND FED BANKS WANTED NO CHANGE TO DISCOUNT RATE-MINUTES.
NORMAN, Okla./ BOSTON Aug 26- An Oklahoma judge on Monday ordered Johnson& Johnson to pay $572.1 million to the state for its part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum that was substantially less than investors had expected, driving up J&J's shares. "The expectation was this was going to be a $1.5 billion to $2 billion...
NORMAN, Okla., Aug 26- An Oklahoma judge on Monday found Johnson& Johnson liable for fueling an opioid epidemic in the state by deceptively marketing addictive painkillers, and ordered the drugmaker to pay $572.1 million. "The expectation was this was going to be a $1.5 billion to $2 billion fine," said Jared Holz, healthcare strategist for Jefferies.
Aug 25- Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle SA to Campbell Soup Co, has amassed a stake in Ray-Ban maker EssilorLuxottica SA, people familiar with the matter said on Sunday. Third Point, run by billionaire investor Daniel Loeb, is targeting EssilorLuxottica amid a power struggle inside the world's...
NEW YORK, Aug 23- The U.S. dollar dropped broadly on Friday after President Donald Trump ordered U.S. companies to start looking for an alternative to China after Beijing imposed more tariffs on American goods, further escalating tension between the world's two largest economies in a prolonged trade dispute. "Our great American companies are hereby ordered to...
JACKSON HOLE, Wyo., Aug 23- The Federal Reserve will "act as appropriate" to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump. The Fed chair, under pressure from Trump and markets to cut rates, characterized the U.S. economy as in a "favorable place" but...
Residents in the Boston metro area are more than happy to give away their cash to a range of charitable causes, according to data from Fidelity Charitable.
Aug 20- U.S. stocks eased on Tuesday after three sessions of strong gains, weighed by declines in financial companies, while better-than-expected results propped up retailer Home Depot. After a stormy start to the month on worsening trade tensions, the three main indexes have rebounded sharply, with the S&P 500 and the Nasdaq erasing last week's losses on signs...
After a stormy start to the month on worsening U.S.- China trade tensions, the three main indexes have rebounded sharply, with the S&P 500 and the Nasdaq erasing last week's losses on signs Germany and China are considering stimulus. A report late on Monday said White House officials are discussing the possibility of a temporary payroll tax cut in an effort to...
NEW YORK, Aug 19- General Electric Co intensified its defense of its accounting practices on Monday after investors questioned it about an unusual research report alleging GE failed to put aside money to cover $29 billion in potential insurance losses and improperly counted profit from subsidiary Baker Hughes. GE shocked investors in 2017 by saying it would...
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