By Dietrich Knauth NEW YORK (Reuters) -Purdue Pharma and its Sackler family owners have reached a new $7.4 billion settlement to resolve thousands of lawsuits alleging that the pain medication OxyContin caused a widespread opioid addiction crisis in the U.S., several state attorneys general said Thursday. The settlement was announced nearly seven months after the…
By Stephen Nellis and Anna Tong SAN FRANCISCO (Reuters) – – This week’s announcement by President Donald Trump of a massive private-sector investment to build more AI data centers casts a spotlight on a relatively small and nimble class of cloud computing firms positioned to play a bigger role in the tech sector. On Tuesday,…
By Nate Raymond (Reuters) – The U.S. Supreme Court cleared the way on Thursday for the enforcement of an anti-money laundering federal law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S. Treasury Department. The justices put on hold a nationwide injunction issued on Dec. 3 by a…
By Catarina Demony LONDON (Reuters) – One of Britain’s biggest anti-racism organisations, Stand Up to Racism, said on Wednesday its Facebook page had been shut down for allegedly breaching the social media platform’s community standards on impersonation, though it was later reinstated. Facebook’s owner, Meta Platforms, said the page had been removed in error and…
By Echo Wang, Curtis Williams and David French (Reuters) – Venture Global LNG was forced to nearly halve the valuation it is seeking in its U.S. initial public offering (IPO) after investors balked at the company’s estimated long-term profit for liquefying gas for export, investors told Reuters. The company is the second-largest exporter of liquefied…
By Hyunjoo Jin and Stephen Nellis SEOUL/SAN FRANCISCO (Reuters) – Samsung Electronics on Wednesday unveiled its newest flagship smartphone, powered by Qualcomm’s chips and Google’s artificial-intelligence model, hoping its upgraded AI features can reinvigorate sales and fend off Apple and Chinese rivals. Samsung was faster than Apple in launching an AI-powered smartphone but failed to…
(Reuters) – E-commerce giant Amazon.com is exiting its operations in Quebec, leading to the loss of about 1,700 full-time jobs, a company spokesperson said on Wednesday. The online retailer will phase out operations across seven sites in the province — the only location in Canada with unionized Amazon employees — over the next two months….
By Melanie Burton and Ernest Scheyder (Reuters) – U.S. President Donald Trump’s rollback of electric vehicle targets may temporarily slow demand for lithium and other critical minerals, but is unlikely to hamper the mining industry amid surging global EV demand, analysts and industry leaders said. Trump on Tuesday revoked predecessor Joe Biden’s 2021 executive order…
(Reuters) – Toronto-Dominion Bank is aiming to sell about $9 billion of residential mortgage loans in order to modify its balance sheet to comply with a new cap imposed by the U.S. regulators, Bloomberg News reported on Tuesday. This is a part of the plea agreement the Canadian lender reached last year with the government…
(Reuters) – TikTok CEO Shou Zi Chew said on Friday he wants to thank U.S. President-elect Donald Trump for his commitment to work with the company and find a solution that keeps the app available in the United States. The company has until Sunday, Jan. 19, to cut ties with its China-based parent ByteDance or…
