By Manya Saini (Reuters) -PayPal’s shares fell 5% on Friday after comments from a European Union lawmaker raised concerns that payments firms could get swept up in escalating trade tensions and potential tariffs between the U.S. and Europe. Uncertainty over tariffs and mounting trade actions have unsettled global markets, causing volatility, straining supply chains and…
By Milana Vinn, Dan Catchpole and Mike Stone (Reuters) – Several private equity firms and at least one aerospace supplier are among the remaining bidders competing to buy Boeing’s Jeppesen navigation unit for more than $8 billion, according to people familiar with the matter. Boeing is expected to invite bids for Jeppesen from the suitors…
By Jonathan Stempel (Reuters) -A federal judge ordered a Johnson & Johnson unit on Friday to pay the U.S. government $1.64 billion after a jury found it liable in a whistleblower lawsuit for illegally promoting the HIV drugs Prezista and Intelence. U.S. District Judge Zahid Quraishi in Trenton, New Jersey, ordered the drugmaker’s Janssen unit…
By Maggie Fick and Lucy Raitano LONDON (Reuters) -Novo Nordisk shares have fallen 25% so far in March and are on track for their biggest monthly drop since July 2002, as investor worries intensify that the obesity drug market pioneer has lost its edge over U.S. rival Eli Lilly. The Danish drugmaker’s launch of weight-loss…
By Echo Wang (Reuters) -CoreWeave plans to reduce the size of its U.S. initial public offering and price its shares below the indicated range, a person familiar with the matter told Reuters on Thursday, dampening expectations that the listing would boost investor appetite for IPOs. The Nvidia-backed cloud services provider is now looking to sell…
LONDON (Reuters) – E-commerce platform TikTok Shop said it will launch to users in France, Germany, and Italy on Monday, expanding its reach further into Europe even as TikTok faces being shut down in the U.S. if Chinese owner ByteDance does not find an American buyer. The shopping arm of social media app TikTok has…
By Carolina Mandl NEW YORK (Reuters) -Hedge funds are increasingly betting against stocks, with Nvidia, Advanced Micro Devices and Tesla as their top three shorts placed on Wednesday, a Morgan Stanley note showed on Thursday. Wednesday was the third largest day of single stock selling by hedge funds this year, according to the bank’s institutional…
(Reuters) -Microsoft has abandoned data center projects set to use 2 gigawatts of electricity in the U.S. and Europe in the last six months due to an oversupply relative to its current demand forecast, TD Cowen analysts said on Wednesday. The tech giant’s withdrawal from new capacity leasing was largely led by the decision not…
By Foo Yun Chee BRUSSELS (Reuters) – Coca Cola bottlers were raided by EU antitrust regulators earlier this month, a person with direct knowledge of the matter said. The European Commission announced the raids on non-alcoholic drinks companies in several EU countries on March 10 but did not name them. It cited concerns about possible…
By Jaspreet Singh (Reuters) – Elon Musk-owned social media platform X is poised for the company’s first year of advertising revenue growth since its acquisition by the billionaire in 2022, data from research firm Emarketer showed on Wednesday. Brands are returning to X at a time when Musk’s influence has grown in the Trump administration,…
