By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk countersued Twitter Inc on Friday, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase, although the lawsuit was filed confidentially. Alt…
Death toll climbs to 16 in Kentucky floods, triggered by epic rainfall
By Brendan O’Brien (Reuters) -The death toll in eastern Kentucky rose to 16 on Friday as flooding unleashed by “epic” torrential rainfall swept through homes, washed out roads and pushed rivers and streams over their banks, state authorities said, warn…
California can’t impose ‘sprawling’ enviro regulations on Tribes’ casino plans
By Barbara Grzincic (Reuters) – California cannot seek environmental concessions from five Native American Tribes during negotiations to renew their contracts to operate “Las Vegas style” casinos, a federal appeals court held. The 9th U.S. Circuit Cour…
Big oil’s Q2 profits hit record $50 billion – with BP yet to come
By Ron Bousso LONDON (Reuters) – Big Oil has never had it so good, and its immediate priority is rewarding shareholders. The world’s largest energy companies, including TotalEnergies, Exxon Mobil and Chevron are ramping up buyback programmes despite cr…
Fed’s aggressive rate-hike path bolstered by new inflation, wage data
By Ann Saphir and Howard Schneider (Reuters) – Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the U.S. central bank will let up on what’s so far been its most aggressive set of inte…
Tide maker P&G misses earnings, forecasts lower growth as consumers ‘scrimp’
By Uday Sampath Kumar and Jessica DiNapoli (Reuters) -Procter & Gamble Co delivered quarterly earnings that missed estimates on Friday and forecast lower sales growth, citing surging transportation and commodity costs, consumer cutbacks and retailer re…
Detentions loom over Egypt’s political dialogue
By Aidan Lewis and Farah Saafan CAIRO (Reuters) – After nine years of sweeping crackdowns on dissent, Egypt is set to launch a carefully choreographed political dialogue, but the main Islamist opposition movement is excluded and critics say a parallel …
Tight U.S. labor market keeps upward pressure on wages; inflation heats up
By Lucia Mutikani WASHINGTON (Reuters) – U.S. labor costs increased strongly in the second quarter as a tight jobs market boosted wage growth, which could keep inflation elevated and give the Federal Reserve cover to continue its aggressive interest ra…
AbbVie to pay up to $2.37 billion to settle U.S. opioid claims
By Manas Mishra and Brendan Pierson (Reuters) -AbbVie Inc has agreed to pay up to $2.37 billion to resolve thousands of U.S. lawsuits against its Allergan unit over the marketing of opioid painkillers, state officials announced on Friday. If finalized,…
Pope again asks for forgiveness as tour ends in Canada’s north
By Rod Nickel and Philip Pullella IQALUIT, Nunavut (Reuters) -Pope Francis again asked for forgiveness after meeting on Friday with residential school survivors in the Arctic territory of Nunavut, the last stop in his six-day visit to Canada to apologi…