Author: IA PressRoom

© Reuters. Investing.com – The U.S. dollar traded largely unchanged Monday in the early European session, near multi-week lows as traders seem reluctant to take news positions at the start of a week that includes a policy-setting meeting by the Federal Reserve. At 02:55 ET (06:55 GMT), the , which tracks the greenback against a basket of six other currencies, traded flat at 103.153, having dropped nearly 0.5% last week, its worst weekly fall since mid-April. Traders keep wary eye on economic data The dollar retreated last week after data showed that the number of Americans filing for unemployment benefits…

Andy Feng/iStock Editorial via Getty Images On the heels of Q1 losses and tepid sales as the price war in China intensified and demand weakened, Nio (NYSE:NIO) will lower prices for all its models and end free battery swapping services to new buyers, Reuters reported. The Chinese automaker will cut prices by 30K yuan ($4.2K) for all models from June 12, including its revamped ES6 and ES8 SUVs. Also, it will no longer provide free battery swapping services to buyers who place deposits on Monday and beyond, the report added. This contrasts Nio’s (NIO) earlier stance when Tesla slashed prices…

Reddit users are going on a 48-hour blackout starting today, June 12. As of publish time, 7,266 subreddits are taking part in the blackout, but the number is rising. Twenty-four subreddits with more than 20 million users a piece are currently affected. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Reddit users are going on a 48-hour blackout starting today, June 12, and it’s affecting some of the site’s most popular subreddits.The blackout comes after Reddit announced on May 31 that it would be introducing new…

© Reuters. FILE PHOTO: A passerby walks past an electric monitor displaying various countries’ stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato By Ankur Banerjee SINGAPORE (Reuters) – Asian shares stalled in cautious trading on Monday as investors braced for central bank decisions in Europe, Japan and the United States this week, along with U.S. inflation data that will likely influence the Federal Reserve’s monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.07% higher at 521.24, having touched a more than one-month peak of 521.94 earlier in the session. The index…

© Reuters. FILE PHOTO: The company’s logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo By Ludwig Burger (Reuters) -Novartis said on Monday it agreed to acquire Seattle-based biotech firm Chinook Therapeutics for up to $3.5 billion to boost its late-stage drug development line-up with a new treatment for a rare severe kidney disease. The transaction, in the form of a merger of a newly formed Novartis subsidiary and Chinook, is expected to close in the second half of 2023, the Swiss drugmaker said in…

By Mauro Orru Novartis agreed to acquire clinical-stage biopharmaceutical company Chinook Therapeutics for up to $3.5 billion, in a deal that will expand its portfolio of kidney disease treatments. The Swiss pharmaceutical company said Monday that it would merge Seattle, Washington-based Chinook Therapeutics with a newly formed Novartis subsidiary, with holders of Chinook common stock receiving $3.2 billion in cash, plus a contingent value right of up to $300 million. The deal will hand Novartis exposure to Chinook’s pipeline for kidney disease treatments. These include atrasentan and zigakibart to treat Immunoglobulin A Nephropathy, a rare kidney disease that affects mostly…

Our top story today is on UBS, which has drawn up a list of nearly two dozen “red lines” that prohibit Credit Suisse bankers from a range of activities in an effort to lower risk as it prepares to take over its ailing rival as early as today.Banned activities include taking on clients from high-risk countries such as Libya, Russia, Sudan and Venezuela and launching new products without approval from UBS managers, according to people with knowledge of the measures. Ukrainian politicians and state-owned enterprises will also be blocked to prevent potential money laundering.“We are worried about ‘cultural contamination’,” UBS…

© Reuters. FILE PHOTO: FILE PHOTO: European Central Bank (ECB) headquarters building is seen in Frankfurt, Germany, March 7, 2018. REUTERS/Ralph Orlowski By Yoruk Bahceli and Stefano Rebaudo (Reuters) – Another quarter percentage-point rate hike from the European Central Bank looks like a done deal on Thursday, but the key question for markets is how many more will follow. Euro area inflation fell faster than expected in May and the bloc’s economy is in recession, boosting the case for the fastest hiking cycle in the ECB’s 25-year history to end soon. “Everything is finally going in the right direction for…

© Reuters. FILE PHOTO: The Ahold Delhaize logo is seen at the company’s headquarters in Zaandam, Netherlands August 23, 2018. REUTERS/Eva Plevier By Jessica DiNapoli NEW YORK (Reuters) – Ahold Delhaize has hit “roughly half” its goal to grow revenue from businesses beyond grocery stores to 1 billion euros by 2025, CEO Frans Muller told Reuters, an effort focused on selling ads on its supermarkets’ websites and monetising insights on consumer data. Grocers like Ahold Delhaize are building ventures that sell online advertising to consumer goods companies, including the ability for their brands to appear first in shoppers’ searches or…

Story highlights NEW: “I have no excuse for what I have done,” Radel says NEW: He says he grew up with a mom who struggled with alcoholism He pleads guilty to misdemeanor cocaine possession, gets a year of probation Authorities say he bought 3.5 grams of cocaine from an undercover officer last month CNN  —  Calling his drug possession conviction a “wake-up call,” U.S. Rep. Trey Radel says he is taking a leave of absence for an unspecified time and will enter an in-patient drug treatment program. “I have no excuse for what I have done. I have let down…