(Reuters) -Eli Lilly has sent cease-and-desist letters to U.S. healthcare providers in recent days demanding they stop the promotion of copycat weight-loss drugs as the supply of its brand-name medicines improves, Bloomberg News reported on Wednesday. Lilly now considers the brand-name drugs to be available and said compounded drugs from state-licensed facilities should not be […]
Tech stocks in focus as investors eye latest filings from funds
NEW YORK (Reuters) – Investors are watching quarterly filings on Wednesday to get a glimpse at how some of the world’s biggest money managers were positioned at the end of the second quarter, a period marked by a series of record highs in the S&P 500 that preceded a more recent bout of turmoil in […]
Exclusive-J&J near disclosing support for talc settlement, sources say
By Mike Spector NEW YORK (Reuters) – Johnson & Johnson is preparing to unveil widespread support in coming days for a $6.48 billion offer to settle tens of thousands of legal actions alleging its Baby Powder and other talc products caused cancer, two people familiar with the matter said. The healthcare giant plans as soon […]
US consumer prices increase as expected in July
WASHINGTON (Reuters) – U.S. consumer prices rebounded as expected in July, but the trend remained consistent with subsiding inflation and did not change expectations that the Federal Reserve will cut interest rates next month. The consumer price index increased 0.2% last month after falling 0.1% in June, the Labor Department’s Bureau of Labor Statistics said […]
Commodities broker Marex plans more acquisitions; shares surge after results
By Eric Onstad LONDON (Reuters) – British-based commodities broker Marex Group is planning more acquisitions to diversify the company following a U.S. listing, its CEO told Reuters, in the wake of strong interim results that sent shares to a record high. Marex listed on the U.S. Nasdaq exchange in April with an initial public offering […]
Mexico cenbanker warns rise in headline inflation could hit other prices
MEXICO CITY (Reuters) – Mexican central bank deputy governor Jonathan Heath warned in an interview published on Wednesday that a recent rise in headline inflation could hit other prices, while cautioning that he viewed the monetary authority’s recent rate cut as premature. Heath, in an interview with local outlet El Universal, said he thought “it […]
UBS to sell Credit Suisse’s U.S. mortgage servicing business
ZURICH (Reuters) -UBS on Tuesday agreed to sell Credit Suisse’s U.S. mortgage servicing business, UBS Chief Financial Officer Todd Tuckner said on Wednesday, without naming the buyer. Tuckner, who was speaking on a call with analysts following publication of the bank’s latest results, said the transaction was expected to close in the first quarter of […]