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As the market widely anticipates the U.S. Federal Reserve to hike interest rates by another 75 basis points this week, several parts of the U.S. Treasury yield curve point to an upcoming recession. The U.S. central bank has hiked interest Read more
Eli Lilly and Co on Tuesday forecast its annual profit and revenue below estimates, as a stronger dollar piled more pressure on the drugmaker struggling with lower insulin prices and generic competition for its cancer drug. The company’s shares fell Read more
Dollar General Corp (DG.N), one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of baiting shoppers with low prices on store shelves, only to then charge more at the register. Citing inflationary Read more
Argo AI, the now shut self-driving technology unit of Ford (F.N) and Volkswagen (VOWG_p.DE), will lay off 78 employees in Austin on Tuesday, according to a notice to the Texas Workforce Commission. The Pittsburg-based Argo AI earlier this year commenced Read more
Infant formula manufacturer Perrigo Company Plc (PRGO.N) said on Tuesday it is buying the Good Start brand and a Wisconsin plant that makes the product from Nestle SA (NESN.S), as U.S. retailers recover from shortages of the good. The deal Read more
Alphabet Inc’s (GOOGL.O) Google is pausing the enforcement of a policy that requires app developers in India to use its proprietary billing system for selling digital goods, following a ruling by the country’s antitrust body. Google had previously set an Read more
The European Central Bank should start shrinking its oversized pile of government debt at the start of next year, Bundesbank President Joachim Nagel told a German newspaper, outlining an ambitious timetable for reducing an 8.8-trillion-euro balance sheet. With inflation running Read more