British American Tobacco under criminal probe by U.S. regulators: The Times

(Reuters) – Lucky Strike cigarette maker British American Tobacco (BATS.L) is under criminal investigation by U.S. regulators over suspected sanctions-busting, The Times reported bit.ly/2ydR5Wm on Tuesday. The Department of Justice (DoJ) and the Office of Foreign Assets Control, a financial intelligence and enforcement agency that is part of the U.S. Treasury department, are investigating BAT for “suspicions of breach of […]

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Asia shares seen higher but economic woes may cap gains

NEW YORK (Reuters) – Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global economy for months are likely to temper investor confidence. E-Mini futures for the S&P 500 ESc1 nudged 0.3% higher, while Nikkei futures NKc1 pointed to an opening gain of about 70 […]

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Wall Street slides as investors brace for dour earnings

(Reuters) – U.S. stock markets slipped in subdued trading on Monday after a strong rally last week, as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic. The S&P banking subsector .SPXBK shed 3.8% despite a rise in Treasury yields, as JPMorgan Chase & Co (JPM.N) and Wells Fargo & […]

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Honeywell borrows further $1.5 billion

(Reuters) – Honeywell International Inc (HON.N) said on Friday it had entered into a $1.5 billion loan agreement to be used for general corporate purposes. The 364-day Credit Agreement was signed with Citibank (C.N) and JPMorgan Chase (JPM.N), Honeywell said in a filing, adding that the loan does not does not restrict its ability to pay dividend. The agreement comes […]

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Johnson & Johnson abandons deal for Takeda's TachoSil surgical patch

WASHINGTON (Reuters) – Johnson & Johnson (JNJ.N) said on Friday it abandoned plans to buy Takeda Pharmaceutical’s surgical patch product TachoSil, citing regulatory issues. Takeda (4502.T), Japan’s biggest drugmaker, announced the sale of TachoSil, a surgical patch to control bleeding, to Johnson & Johnson’s subsidiary Ethicon for $400 million last May. “Ethicon and Takeda have mutually decided to terminate the […]

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Saudi, Russia work oil cut deal in G20 talks, seek U.S. participation

DUBAI/MOSCOW (Reuters) – Top oil nations were finalising a deal at G20 talks on Friday for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion’s share and signs the United States might take unprecedented moves to help. Riyadh, Moscow and its allies, which make up the informal OPEC+ group, had […]

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Coronavirus-hit airlines in push for divisive route subsidies

PARIS (Reuters) – Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds. Route subsidies feature on a list of financial support requests circulated among airline members of the International Air Transport Association (IATA) and […]

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Saudi, Russia seek to finalise oil cuts in G20 talks, want U.S. involved

DUBAI/MOSCOW (Reuters) – Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%. The plan for cuts top the agenda for Friday’s video conference of energy ministers from the Group […]

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Global oil output cuts held hostage to standoff

DUBAI/MOSCOW (Reuters) – Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has encouraged global cooperation to bolster an […]

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Coronavirus: ‘Unscrupulous sellers’ still flogging items for 24 times their normal price

The government is facing calls to introduce price controls on essential items sold online after eBay and Amazon were accused of failing to stop profiteering during the coronavirus pandemic. Consumer group Which? said the two companies were “failing to prevent some unscrupulous sellers” posting items on their sites despite removing hundreds of thousands of rogue listings. Prime Minister Boris Johnson […]

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