New York City sues drug companies over opioid epidemic
NEW YORK (Reuters) – New York City on Tuesday sued eight companies that make or distribute prescription opioids, blaming them for fuelling a deadly epidemic afflicting the most populous U.S. city.
Trump’s pick to head FDIC vows to address non-bank licenses ‘hold-up’
WASHINGTON (Reuters) – President Donald Trump’s pick to lead a key U.S. banking regulator vowed on Tuesday to address the “hold-up” in issuance of special lending licenses, potentially paving the way for companies like Wal-Mart Stores and fintech firms…
NYSE sees no need to ‘bend over backwards’ to woo Aramco IPO
DAVOS, Switzerland (Reuters) – The New York Stock Exchange took a swipe on Tuesday at its London rival in their battle to attract the foreign listing of shares in oil giant Saudi Aramco, saying it didn’t need to “bend over backwards” to lure what could…
U.S. appeals court decertifies class action in Hyundai fuel economy settlement
NEW YORK (Reuters) – A U.S. appeals court on Tuesday overturned a lower court’s decision to grant class certification to car owners who settled with Hyundai Motors and its Kia affiliate over the fuel efficiency of its vehicles.
S&P, Nasdaq lifted by strong earnings from Netflix
(Reuters) – The S&P and the Nasdaq rose on Tuesday as upbeat earnings from Netflix spurred gains for the highly-valued technology sector, while the Dow came under pressure from declines in Johnson & Johnson and Procter & Gamble.
FDIC nominee says will address “hold-up” in non-bank licenses
WASHINGTON (Reuters) – President Donald Trump’s pick to lead one of the country’s key banking regulators said on Tuesday she would move to address the “hold-up” in the issuance of a special license that would potentially allow non-banks such as fintech…
Crunch time for NAFTA as negotiators open Montreal round of talks
MONTREAL (Reuters) – U.S., Canadian and Mexican negotiators opened a key week-long round of talks to modernize NAFTA on Tuesday amid persistent concerns the Trump administration is preparing to walk away from the trade deal, a move that could roil fina…
JPMorgan rolls out $20 billion investment plan after tax gains
(Reuters) – JPMorgan Chase & Co unveiled a $20 billion investment plan on Tuesday to hike wages, hire more, open new branches and expand its business as it takes advantage of sweeping changes to the U.S. tax law and a more favorable regulatory environment.
P&G second quarter beats, but margins worry investors
(Reuters) – The world’s largest consumer goods maker Procter & Gamble Co reported better-than-expected sales and profit for its second quarter on Tuesday, but investors focused on a drop in gross margins, sending its shares down 2 percent.
J&J takes $13.6 billion charge related to new U.S. tax law
(Reuters) – Healthcare conglomerate Johnson & Johnson on Tuesday took a $13.6-billion charge related to the new U.S. tax law and plans to bring back billions of dollars from overseas immediately.
