Valeant CEO tells U.S. Senate of regret over raising drug prices
WASHINGTON/NEW YORK (Reuters) – Activist investor William Ackman promised U.S. lawmakers on Wednesday that he will urge the board of Valeant Pharmaceuticals to reduce the high prices of four life-saving drugs that are now at the heart of two congressio…
Facebook plans new non-voting shares to keep Zuckerberg at helm
SAN FRANCISCO (Reuters) – Facebook announced on Wednesday it will create a new class of non-voting shares in a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media juggerna…
Fed’s ‘forward guidance’ shift leaves markets more wedded to data
WASHINGTON (Reuters) – Rising oil prices and a more stable Chinese economy allowed the Federal Reserve to shift its focus back to the home front on Wednesday, as it signaled that U.S. jobs and inflation data would determine whether it hiked interest ra…
After massive drop, is Apple cheap enough?
NEW YORK (Reuters) – If Apple could cash in the value it lost in the first minute of trading on Wednesday, it would be nearly enough to buy General Motors, Target or Caterpillar.
Mitsubishi says U.S. mileage ratings for its cars are correct
WASHINGTON (Reuters) – Mitsubishi Motors Corp, which has admitted manipulating fuel economy tests for mini-vehicles in Japan, on Wednesday said its vehicles for the model years 2013 to 2017 sold in the United States have correct mileage ratings.
Fed signals no rush to hike rates as economy hits soft patch
WASHINGTON (Reuters) – The Federal Reserve left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. economy.
Smaller tech stocks thrive even as large names get hammered
NEW YORK (Reuters) – The technology sector has taken it on the chin in recent days, after lukewarm-to-disappointing results from a range of bellwethers such as Apple, Alphabet and Microsoft, but stocks of smaller tech companies have managed to buck the…
Hotel chain Marriott’s quarterly revenue rises 7.4 percent
(Reuters) – Marriott International Inc’s revenue rose 7.4 percent in the first quarter, helped by higher room rates and occupancy at its hotels.
Wall Street ticks up as hawkish Fed fears ebb; Apple weighs
(Reuters) – U.S. stocks ended slightly higher on Wednesday after fears eased that the Federal Reserve would strongly signal it would raise interest rates in June, though a slump in Apple shares weighed on the Nasdaq index.
Oil jumps to 2016 highs as dollar drops on Fed decision
NEW YORK (Reuters) – Oil prices jumped about 3 percent on Wednesday, hitting new highs for 2016 as the dollar weakened after the Federal Reserve announced it would leave U.S. interest rates unchanged.
