US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in … Read more

As Musk focuses on Twitter, his $56 billion Tesla pay goes to trial

WILMINGTON, Del., Nov 7 (Reuters) – As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. Tesla (TSLA.O) shareholder is seeking to rescind Musk’s 2018 … Read more

US grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) snapped up Albertsons Cos Inc (ACI.N) in a $25 billion deal on Friday, creating a US grocery behemoth to better compete with leader Walmart Inc (WMT.N) on prices while bracing for potential antitrust roadblocks. The mega merger between the No. 1 and 2 standalone grocers in the United … Read more

Newly-launched US drugs head toward record-high prices in 2022

Median annual price for new US drugs this year is $257,000 Eight of 13 drugs launched in 2022 priced over $200,000 per year Some drugmakers disclose less information on pricing Aug 15 (Reuters) – Drugmakers are launching new medicines at record-high prices this year, a Reuters analysis has found, highlighting their pricing power even as … Read more

Exxon, Chevron post blowout earnings, oil majors bet on buybacks

High prices, margins lift majors to best quarters in history Exxon earnings surpass previous record set in 2012 July 29 (Reuters) – The two largest US oil companies, Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for … Read more

Is 3M earplug bankruptcy the beginning of the end of mass tort CDMs?

law firms Related documents (Reuters) – The biggest multidistrict litigation in US history is “broken beyond repair” — stuffed with hundreds of thousands of unvetted and quite possibly unwarranted claims, distorted beyond reason by plaintiffs lawyers’ advertising and tainted by erroneous evidentiary rulings that made bellwether trial verdicts a useless indicator of defendants’ true exposure. … Read more