BOGOTA (Reuters) – The Colombian unit of bank BBVA has issued ordinary shares worth 877 billion pesos ($218 million), the Colombian stock exchange said in a statement on Tuesday. The Colombian unit issued 3.24 billion shares at a price of 270 pesos each in an initial tranche, the statement said, adding that a further 152.7 […]
Banking industry loses challenge to CFPB small business loan rule
By Nate Raymond (Reuters) – A federal judge on Monday rejected a banking industry-backed challenge to a rule adopted by the U.S. Consumer Financial Protection Bureau that requires lenders to gather demographic data on small business borrowers. U.S. District Judge Randy Crane in McAllen, Texas, had blocked the agency from enforcing the rule nationwide after […]
Chipotle denied raises to unionized workers, US labor agency says
By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue […]
China’s Sinopec posts 2.6% rise in first-half profit
(Corrects to show that Sinopec H1 profit rose 2.6%, not 2.7%; Removes reference to figures based on Chinese standards.) BEIJING (Reuters) -China’s Sinopec posted a 2.6% rise in net profit for the first half of the year, it said on Sunday, as rising oil prices boosted income. China Petroleum & Chemical Corp as Sinopec is […]
Apple targets Sept. 10 debut for new iPhones, AirPods and watches, Bloomberg News reports
(Reuters) – Apple is planning its biggest product launch event of the year on Sept. 10, during which it will unveil the latest iPhones, watches and AirPods, Bloomberg News reported on Friday, citing people familiar with the situation. The company is making preparations for that date, even though the timing has not yet been announced, […]
Eli Lilly Alzheimer’s drug to be blocked for use by NHS, The Telegraph reports
(Reuters) -Eli Lilly’s treatment for early Alzheimer’s is expected to be blocked for use by Britain’s National Health Service (NHS), the Telegraph reported on Friday. The drug donanemab would be rejected by the National Institute for Health and Care Excellence(NICE), which decides what drugs are available on the NHS, the newspaper reported citing insiders. The […]
Microsoft to host cybersecurity summit after CrowdStrike-induced IT outage
(Reuters) -Microsoft said on Friday it would hold a summit in September on improving cybersecurity systems, after a faulty update from CrowdStrike caused a global IT outage last month. The conference marks the first big step by Microsoft to address the issues that affected nearly 8.5 million Windows devices on July 19, disrupting operations across […]
Perplexity AI to launch ads on search platform by fourth quarter
(Reuters) – Nvidia and Jeff Bezos-backed Perplexity AI said on Thursday that it plans to introduce advertising on its artificial intelligence-powered search platform by the fourth quarter. Last month, the AI startup launched a program for publishers with an initial batch of partners, including TIME, Der Spiegel, and Fortune, in which it plans to share […]
Bristol-Myers Squibb-backed Zenas BioPharma files for US IPO
(Reuters) – Bristol-Myers Squibb-backed Zenas BioPharma has filed to go public in the United States, a regulatory filing showed on Thursday, underscoring improving investor appetite for new listings. The U.S. initial public offering market is in the early innings of a recovery on hopes of potential interest-rate cuts and lower market volatility. Zenas BioPharma, an […]
Analysis-Walmart tears up China online strategy with JD.com stake sale
By Siddharth Cavale NEW YORK (Reuters) – Walmart’s stake in Chinese e-commerce firm JD.com was once central to its China strategy. Now it is tearing up that playbook by unloading itsĀ entire $3.74 billion stake in one of China’s biggest online retailers, in another example of the volatile nature of its relationship with China. The unshackling […]