U.S. senator expresses concern about ag tech mergers
WASHINGTON (Reuters) – Two major mergers in agricultural technology and seeds could hurt competition in the industry and make it harder for smaller companies to compete, Senator Charles Grassley, chairman of the Senate Judiciary Committee, wrote in a l…
Ex-Insys employees plead not guilty in U.S. drug-kickback case
NEW YORK (Reuters) – Two former Insys Therapeutics Inc employees pleaded not guilty on Wednesday to charges that they engaged in a scheme to pay doctors kickbacks including speaker fees to prescribe a drug containing the opioid fentanyl.
VW’s key plant hit by parts shortage in supplier row
BERLIN (Reuters) – Volkswagen said on Wednesday production at its largest factory had been curtailed in some areas because of a supplies shortage caused by a parts maker refusing to keep to delivery commitments.
U.S. judge suggests Apollo, TPG pay into Caesars reorganization
CHICAGO (Reuters) – A U.S. judge on Wednesday suggested the casino operating unit of Caesars Entertainment Corp (CEC) ask its parent’s private equity sponsors for money to fund a plan to exit its contentious $18 billion bankruptcy.
Target says low demand for Apple products hurts electronics sales
(Reuters) – Target Corp reported a drop in demand for Apple Inc’s products that hurt the retail chain’s electronics sales in the second quarter, but said it is working with the iPhone maker to capitalize on new product launches during the second half.
Oil up fifth day on U.S. stock draws; Saudi output threatens rally
NEW YORK (Reuters) – Oil’s rally extended for a fifth day on Wednesday, helped by a weaker dollar and an unexpected drawdown in U.S. crude and gasoline but traders said the run up may not last, pointing to galloping Saudi output and technical factors.
Fed policymakers divided over whether to raise rates soon: minutes
WASHINGTON (Reuters) – Federal Reserve policymakers agree that more economic data is needed before raising interest rates, although some see a need to tighten policy soon, according to the minutes from the U.S. central bank’s July 26-27 policy meeting….
Monsanto gives Bayer limited access to its books: sources
FRANKFURT (Reuters) – U.S. seed company Monsanto has given German suitor Bayer AG limited access to its books after turning down a sweetened $64 billion takeover offer last month, two sources familiar with the situation told Reuters.
Ex-Wall Street banker convicted for giving father insider tips
NEW YORK (Reuters) – An ex-Wall Street investment banker was convicted on Wednesday of engaging in insider trading by tipping his father off to unannounced healthcare mergers, a victory for prosecutors after an appellate ruling made it harder to pursue…
Lowe’s sales miss estimates as short spring hurts
(Reuters) – Home improvement chain Lowe’s Cos Inc reported a lower-than-expected quarterly profit and cut its full-year earnings forecast, hurt by a shorter spring in the northern United States and fewer big-ticket purchases at its stores.
