business

Pharma stocks crater as investors brace for billions in heartburn drug litigation charges

Pharma stocks crater as investors brace for billions in heartburn drug litigation charges

Shares of GlaxoSmithKline, Sanofi and Haleon all sold off sharply this week, shedding tens of billions in market value, amid investor fear over potential US litigation charges focused on popular heartburn drug Zantac. This has been a known issue bubbling in the background for years but investor concern exploded this week in the lead-up to …

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China's factory inflation hits 17-month low, consumer prices speed up

China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to spur growth BEIJING, Aug …

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Breweries scramble for CO2 amid shortage: 'A scary situation'

Breweries scramble for CO2 amid shortage: ‘A scary situation’

A carbon dioxide shortage is causing problems for brewers. Bad news for beer drinkers. A carbon dioxide shortage is causing problems for brewers. CO2 is a key ingredient to make beer, and without it, some breweries are stopping production and cutting jobs. “I’m in daily texts, communication with my supplier,” said Jacob Landry, the owner …

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Elon Musk: US 'past peak inflation' after Tesla sells 90% of Bitcoin

Elon Musk: US ‘past peak inflation’ after Tesla sells 90% of Bitcoin

Bitcoin (BTC) is in short supply at Tesla, even as its CEO predicts that United States inflation has already peaked. Speaking at Tesla’s 2022 Annual Meeting of Stockholders on Aug. 5, Elon Musk predicted that an upcoming United States recession would only be “mild to moderate.” Musk on costs: “The trend is down” After recently …

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In Elon Musk vs Twitter, He Cites Company's Battle With Indian Government

In Elon Musk vs Twitter, He Cites Company’s Battle With Indian Government

Musk said that Twitter should follow the local law in India. (FILE) Washington: Tesla CEO Elon Musk, who is locked in a court battle with Twitter over a failed acquisition bid that Twitter now intends to force through, said that the social media giant jeopardized its third largest market by failing to disclose “risky” litigation …

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Futures: 'Soft Landing' Rally Faces Big Test;  Tesla Split OK’d

Futures: ‘Soft Landing’ Rally Faces Big Test; Tesla Split OK’d

Dow Jones futures were little changed Friday morning, along with S&P 500 futures and Nasdaq futures, with the July jobs report looming large. You’re here (TSLA) shareholders approved a 3-for-1 stock split Thursday evening. X The stock market rally closed mixed in a relatively quiet Thursday for the major indexes, but there were some big …

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Stock futures are flat as Wall Street takes a breather after Dow's 400-point rally

Stock futures are flat as Wall Street takes a breather after Dow’s 400-point rally

Bank of England announces largest interest rate hike in 27 years The Bank of England on Thursday hiked interest rates by half of a percentage point, the sixth consecutive increase and first bump of this size since 1997, in an effort to cool off inflation. Inflation in the UK is also at a 40-year high, …

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PayPal surges, Airbnb falls and more: Wednesday's 5 things to know

PayPal surges, Airbnb falls and more: Wednesday’s 5 things to know

FOX Business’ Madison Alworth talks to a NYC restaurant director on difficulties facing the restaurant industry and what business owners are facing throughout the country. Here are the key events taking place on Wednesday that could impact trading. PAYPAL: Shares were surging more than 10% in premarket trading. The online payments company has entered an …

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