By Timothy Gardner and Brendan O’Brien WASHINGTON (Reuters) -The U.S. imposed sanctions on Thursday against a network that smuggles Iranian oil disguised as Iraqi oil, and on a Hezbollah-controlled financial institution, the Treasury Department said. A network of companies run by Iraqi-British national Salim Ahmed Said has been buying and shipping billions of dollars worth…
(Reuters) -AstraZeneca is in talks with Summit Therapeutics to license an experimental lung-cancer drug under a deal worth as much as $15 billion, Bloomberg News reported on Thursday, citing people familiar with the matter. Shares of Summit Therapeutics surged 9.7% to $25.81 in morning trade. The Menlo Park, California-based drug developer did not immediately respond…
By Helen Reid LONDON (Reuters) -A trade deal announced by the U.S. and Vietnam creates new question marks for sportswear and clothing retailers like Nike and Adidas that source shoes and clothes from factories in the Southeast Asian country, industry experts said on Thursday. The U.S. will impose a 20% tariff on many imports from…
By Foo Yun Chee BRUSSELS (Reuters) -The two co-chief executives of Universal Music Group’s Virgin Music Group on Thursday pushed back against critics of its $775 million acquisition of Downtown Music, saying the deal would create a company providing a wide range of services to independent labels. The European Commission is currently reviewing the deal…
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By Trevor Hunnicutt and Khanh Vu WASHINGTON/HANOI (Reuters) -The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports. Vietnamese goods will now face a 20% tariff and any trans-shipments…
By Akash Sriram (Reuters) -Tesla is headed for another year of shrinking sales after it posted a second straight drop in quarterly deliveries, dragged down by CEO Elon Musk’s right-wing political stances and an aging vehicle line-up that has turned off some buyers. The automaker now needs to deliver over one million vehicles in the…
By Ted Hesson WASHINGTON (Reuters) -The major tax-cut and spending bill that Republicans hope to bring to final passage in the U.S. House of Representatives this week would devote an unprecedented $170 billion to immigration enforcement, according to an analysis by the pro-immigration American Immigration Council and a Reuters review of the bill text. DETENTION…
(Reuters) -Microsoft will lay off nearly 4% of its workforce, the company said on Wednesday, in the latest job cuts as the tech giant looks to rein in costs amid hefty investments in artificial intelligence infrastructure. The company, which had about 228,000 employees worldwide as of June 2024, had announced layoffs in May, affecting around…
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