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…
By Patrick Wingrove (Reuters) -Eli Lilly said it has begun selling vials of the smallest, starter dose of its popular weight-loss drug Zepbound in the United States for $399 for a month on its direct-to-consumer website to try to increase supplies in the marketplace. Zepbound is typically sold in auto-injector pens, but with vials Lilly…
By Max A. Cherney SAN FRANCISCO (Reuters) – The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated workforce, risk-averse culture and lagging artificial intelligence strategy, according to three sources familiar with the matter. Lip-Bu Tan, a…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker. Options pricing shows that traders anticipate a move of around 9.8% in the company’s shares…
NEW YORK (Reuters) – The Bank of New York Mellon has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday. BNY repeatedly failed to correctly report at least 5…
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…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management, which now holds voting power over roughly 9.7% of Southwest Airlines, is telling investors the company needs new outside leadership for a “better future,” but it is also ready to press ahead with a planned proxy fight. In a letter to shareholders, the hedge fund is…
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting,…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September. In highly anticipated comments before the Jackson Hole Economic Symposium, Powell said “the time has come” to lower the Fed…
(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,…
