DIRS.INFO The most relevant business & tech news

☆ Alnylam gives up on expanded use of heart-disease drug in US after FDA declines approval
▼ + stars: | 2023-10-09 | by ( Mariam E Sunny | ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The FDA, in 2019, approved Pfizer's (PFE.N) oral drug tafamidis, sold under the brand names Vyndaqel and Vyndamax, to treat transthyretin amyloid cardiomyopathy in the United States. Alnylam said it will focus on another drug candidate, vutrisiran, an under-the-skin injection in late-stage trials to treat ATTR amyloidosis-related cardiomyopathy. Branded as Amvuttra, vutrisiran is also approved in the U.S. to treat nerve damage in adult patients with hereditary ATTR amyloidosis. William Blair analyst Myles Minter estimates peak U.S. sales of $2.2 billion for vutrisiran as an ATTR cardiomyopathy treatment.

Persons: Andrew Kelly, patisiran, ATTR amyloidosis, Alnylam, Luca Issi, ATTR, William Blair, Myles Minter, Mariam Sunny, Pooja Desai Organizations: Food and Drug Administration, FDA, REUTERS, Alnylam Pharmaceuticals, RBC, Thomson Locations: White Oak , Maryland, U.S, Massachusetts, United States, Bengaluru

☆ Corona beer-maker Constellation Brands lifts profit forecast on higher pricing
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

Bottles of the beer, Corona, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 5 (Reuters) - Constellation Brands (STZ.N) raised its annual profit target on Thursday after topping sales expectations for the second quarter, riding on higher prices and strong demand for its beers and spirits. Constellation, like peer Brown-Forman (BFb.N), has benefited from increasing prices in a bid to offset steeper input costs. The company now expects fiscal 2024 comparable earnings per share between $12.00 and $12.20, as against its previous forecast of profit between $11.70 and $12.00 per share. Constellation's quarterly sales rose 7%, to $2.84 billion, compared with analysts' average estimate of $2.82 billion, as per IBES data from LSEG.

Persons: Lucy Nicholson, Brown, Forman, Juveria Tabassum, Pooja Desai Organizations: Constellation Brands Inc, REUTERS, Constellation Brands, LSEG, Thomson Locations: Corona, Los Angeles , California, U.S

☆ Corona beer maker Constellation Brands bets on higher pricing to lift profit view
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Bottles of the beer, Corona, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 5 (Reuters) - Constellation Brands (STZ.N) raised its annual profit target on Thursday after higher prices and strong demand for its beers and spirits drove a sales and profit beat in the second quarter. Alcohol producers such as Constellation and peer Brown-Forman (BFb.N) have benefited from increasing prices, helping offset steeper raw material costs. Constellation also raised the annual sales forecast for its beer business. Constellation now expects fiscal 2024 comparable earnings per share between $12.00 and $12.20, as against its previous forecast of profit between $11.70 and $12.00 per share.

Persons: Lucy Nicholson, Brown, Forman, Kim Crawford, Busch, Bud Light, Bump Williams, Garrett Nelson, Juveria Tabassum, Pooja Desai Organizations: Constellation Brands Inc, REUTERS, Constellation Brands, Constellation, Modelo Especial, Corona, Modelo, Anheuser, LSEG, Thomson Locations: Corona, Los Angeles , California, U.S, Rochester , New York

☆ ChatGPT users can now browse internet, OpenAI says
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

OpenAI and ChatGPT logos are seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 27 (Reuters) - ChatGPT users will now be able to surf the web, Microsoft-backed (MSFT.O) OpenAI said on Wednesday, expanding the data the viral chatbot can access beyond its earlier September 2021 cutoff. The artificial intelligence startup said its latest browsing feature would allow websites to control how ChatGPT can interact with them. "Browsing is available to Plus and Enterprise users today, and we'll expand to all users soon. OpenAI had earlier tested a feature that allowed users to access the latest information through the Bing search engine within its premium ChatGPT Plus offering.

Persons: Dado Ruvic, OpenAI, Bing, Siri, ChatGPT, Samrhitha, Devika Syamnath, Pooja Desai Organizations: REUTERS, Microsoft, Enterprise, Twitter, Bing, Thomson Locations: OpenAI, Bengaluru

☆ Peloton zooms after striking global deal with yoga wear maker Lululemon
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSept 27 (Reuters) - Peloton Interactive (PTON.O) and Lululemon Athletica (LULU.O) said on Wednesday they had entered into a five-year global partnership, sending Peloton's shares up 16.7% in aftermarket trading. Under the deal, Peloton would become the exclusive digital fitness content provider for the apparel maker, developing all content for Lululemon Studio beginning early 2024. The fitness platform provider, once a pandemic darling, has taken a series of measures to cut costs. Shares of Peloton's rival Xponential Fitness (XPOF.N) pared some gains on the news of the company's deal with Lululemon and were last up 3.6% after the bell. Lululemon also said it would discontinue selling its Studio Mirror - an interactive "smart fitness" device that features live, on-demand workouts - which has seen lackluster demand in recent months.

Persons: Carlo Allegri, Lululemon, Shivansh, Pooja Desai Organizations: REUTERS, Lululemon Studio, Lululemon, Thomson Locations: Manhattan, New York City, U.S, Bengaluru

☆ Google's 25-year journey from dorm to internet dominance
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

The logo of Google is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsSept 26 (Reuters) - More than 25 years ago, two students at Stanford University brainstormed in their dormitory and came up with an idea - to create an internet search engine that would organize web pages and also rank them. Initially called BackRub, the startup grew into one of the world's most valuable and influential companies, Google. Google's products, including Gmail and search, are now used by billions and its co-founders, Larry Page and Sergey Brin, rank among the richest people in the world. Here are some milestones in the history of the tech giant, whose parent is now known as Alphabet:Reporting by Chavi Mehta, Arsheeya Bajwa, Yuvraj Malik, Samrhitha Arunasalam and Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Larry Page, Sergey Brin, Chavi Mehta, Arsheeya Bajwa, Yuvraj Malik, Samrhitha, Jaspreet Singh, Pooja Desai Organizations: Google, Viva Technology, Porte de, REUTERS, Stanford University brainstormed, Gmail, Thomson Locations: Porte, Paris, France, Bengaluru

☆ India's Byju's to merge businesses, slash around 5,500 jobs – ET
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

People walk past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsSept 26 (Reuters) - Indian education firm Byju's plans to cut around 5,500 jobs to decrease costs amid a restructuring of its business, the Economic Times reported on Tuesday. The firm, valued at $22 billion last year, has experienced a series of business setbacks, including its auditor and board members quitting. In the last few months, it has also been negotiating the repayment of a $1.2 billion loan. (This story has been corrected to change Arjun Mohan's designation to say CEO of Byju's India business, not the company, in paragraph 2)Reporting by Shivani Tanna in Bengaluru; Editing by Pooja Desai私たちの行動規範：トムソン・ロイター「信頼の原則」

Persons: Adnan Abidi, Arjun Mohan, Byju's, Arjun, Shivani Tanna, Pooja Desai 私 Organizations: Education Technology, REUTERS, Economic Times Locations: New Delhi, India, Bengaluru

☆ Bezos's Blue Origin names former Amazon executive as CEO -internal email
▼ + stars: | 2023-09-25 | by ( Joey Roulette | ) www.reuters.com time to read: +3 min

REUTERS/Joe Skipper/File photo Acquire Licensing RightsSept 25 (Reuters) - The chief executive officer of Jeff Bezos's space company Blue Origin, Bob Smith, will step down at the end of the year to be replaced by former Amazon executive Dave Limp, who ran products such as Kindle, according to emails seen by Reuters. Limp, a former senior vice president at Amazon who led the company's consumer devices unit, will become Blue Origin's CEO on Dec. 4, an email from Bezos, Blue Origin's founder, said. "Jeff and I have been discussing my plan for months," Smith told employees in an email sent Monday. He added he would remain with the company until Jan. 2 "to ensure a smooth transition with the new CEO." Limp, a more than 13-year veteran of Amazon, had overseen some of Amazon's well-known consumer devices, such as Echo products.

Persons: Jeff Bezos, Blue, Bob Smith, Bezos, Joe Skipper, Jeff Bezos's, Dave Limp, Jeff, Smith, Limp, Elon, New Glenn, Joey Roulette, Pooja Desai, Sonali Paul Organizations: Billionaire, Blue Origin's, REUTERS, Amazon, Reuters, Blue, SpaceX's, NASA, Honeywell Aerospace, SpaceX, Boeing, Lockheed, United Launch Alliance, Thomson Locations: Van Horn , Texas, U.S, New

☆ Canadian union Unifor names GM its second bargaining target among Detroit Three
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 25 (Reuters) - Canadian union Unifor announced General Motors (GM.N) as its second bargaining target in contract talks with the Detroit Three on Monday, a day after ratifying a new three-year contract with Ford Motor (F.N). Unifor had set Ford as the first target for a pattern agreement in its contract discussions with the Detroit Three in Canada. Talks with GM are set to begin on Tuesday, Sept. 26, the union said. The Canadian operations of the Detroit Three are much smaller than their U.S. setups, but the three automakers each has critical factories in Canada.

Persons: Rebecca Cook, Unifor, Ford, Shivansh, Pooja Desai Organizations: General Motors, REUTERS, Detroit, Ford Motor, Ford, Ford of, GM, United Auto Workers, UAW, Thomson Locations: Detroit , Michigan, U.S, Canada, Ford of Canada, United States, Bengaluru

☆ Workers with Canadian union Unifor vote in favor of Ford contract
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: 1 min

Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowSept 24 (Reuters) - Canadian labor union Unifor said on Sunday its members had voted to ratify a new contract with Ford Motor (F.N), a relief for the Detroit automaker locked in a separate tussle with its U.S. union over demands for better pay and benefits in the country. Reporting by Nathan Gomes and Mrinmay Dey in Bengaluru Editing by Pooja Desai and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfgang Rattay, Unifor, Nathan Gomes, Mrinmay Dey, Pooja Desai, Matthew Lewis Organizations: REUTERS, Ford, Ford Motor, Detroit, Thomson Locations: Frankfurt, Germany, Bengaluru

☆ Rupert Murdoch's 2023 pay at Fox swells 24% to $22.9 million
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Media mogul Rupert Murdoch leaves his home in London, Britain March 4, 2016. Murdoch wed former supermodel Jerry Hall in a low-key ceremony in central London on Friday, the fourth marriage for the media mogul. REUTERS/Stefan Wermuth/File Photo Acquire Licensing RightsCompanies Fox Corp FollowNews Corp FollowSept 22 (Reuters) - Fox Corp's (FOXA.O) former chairman Rupert Murdoch's total compensation for 2023 climbed more than 24% to $22.9 million, a regulatory filing showed on Friday. At Fox, his 2023 compensation includes an annual base salary of $5 million and about $7.6 million in stock awards and options. Lachlan's compensation at Fox stands at $21.8 million for 2023, little changed from last year's $21.7 million.

Persons: Rupert Murdoch, Murdoch, Jerry Hall, Stefan Wermuth, Fox, Rupert Murdoch's, Lachlan Murdoch, Tony Abbott, Peggy Johnson, Deborah Sophia, Pooja Desai Organizations: Companies Fox Corp, News Corp, Fox, Tony Abbott AC, Thomson Locations: London, Britain, Bengaluru

Effective Oct. 1, Amazon was planning to impose a new 2% fee on every sale by third-party sellers that ship their products themselves, according to media reports in August. "After careful consideration, we've made the decision not to implement this program fee to ensure seller sentiment related to the fee does not impact program participation," an Amazon spokesperson told Reuters. The reversal in Amazon's plans comes when the company is facing a potential lawsuit from the U.S. Federal Trade Commission. The FTC is expected to file a lawsuit against Amazon later this month after the company did not offer concessions to settle antitrust claims, the Wall Street Journal reported. Amazon has been criticized for allegedly favoring its own products over those from outside sellers on its platform.

Persons: we've, Trump, Deborah Sophia, Pooja Desai Organizations: Amazon, Reuters, U.S . Federal Trade Commission, Bloomberg, FTC, Wall Street Journal, Thomson Locations: Bengaluru

The move suggests the company is taking a more cautious approach to how much money it can charge online sellers, the Bloomberg report said. Effective Oct. 1, Amazon was planning to impose a new 2% fee on every sale by third-party sellers that ship their products themselves, according to media reports in August. The FTC is expected to file a lawsuit against Amazon later this month after the company did not offer concessions to settle antitrust claims, the Wall Street Journal reported. The FTC began probing the company during the Trump administration, when it also launched investigations into other tech majors. Amazon has been criticized for allegedly favoring its own products over those from outside sellers on its platform.

Persons: Pascal Rossignol, Trump, Deborah Sophia, Pooja Desai Organizations: REUTERS, Bloomberg, U.S . Federal Trade Commission, FTC, Amazon, Wall Street Journal, Thomson Locations: Bengaluru

☆ MGM says its hotels, casinos 'operating normally' after cyberattack
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File Photo Acquire Licensing RightsSept 20 (Reuters) - MGM Resorts (MGM.N) said on Wednesday that all its hotels and casinos were "operating normally" after it shut down some of its computer systems over cybersecurity issues earlier this month. "Mobile Check-In and Digital Keys are currently unavailable," MGM said on its website. Several security analysts have drawn attention to Scattered Spider over the past year for its social engineering tactics. Last week, the hacking group said it took six terabytes of data from the systems of multi-billion-dollar casino operators MGM Resorts and Caesars Entertainment (CZR.O), as both companies probed the breaches.

Persons: Bridget Bennett, Jefferies, Priyamvada, Pooja Desai Organizations: MGM, MGM Resorts, REUTERS, Reuters, Caesars Entertainment, Thomson Locations: Las Vegas , Nevada, U.S, Macau, Las Vegas, Bengaluru

☆ Australian regulator sues crypto exchange for design, distribution failures
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Sept 21 (Reuters) - Australia's corporate regulator said on Thursday it had initiated civil proceedings against Bit Trade Pty Ltd, provider of the Kraken crypto exchange to Australian customers, for failing to comply with design and distribution obligations for its margin trading product. The design and distribution obligations (DDO) require firms to design financial products that meet the needs of consumers and distribute them in a targeted manner. Bit Trade's margin trading product is a credit facility as it provides customers credit to buy and sell certain crypto assets on the Kraken exchange, ASIC said. It said at least 1,160 customers had used the margin trading product, incurring a total loss of about A$12.95 million ($8.35 million) since DDO began in October 2021. ($1 = 1.5516 Australian dollars)Reporting by Himanshi Akhand in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: DDO, Sarah Court, Himanshi, Pooja Desai Organizations: Bit Trade, Ltd, Australian Securities and Investments Commission, Thomson Locations: Bengaluru

☆ Musk's Neuralink to start human trial of brain implant for paralysis patients
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Neuralink logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 19 (Reuters) - Billionaire entrepreneur Elon Musk's brain-chip startup Neuralink said on Tuesday it has received approval from an independent review board to begin recruitment for the first human trial of its brain implant for paralysis patients. It is not known how many patients the FDA ultimately approved. Musk has grand ambitions for Neuralink, saying it would facilitate speedy surgical insertions of its chip devices to treat conditions like obesity, autism, depression and schizophrenia. Reporting by Mariam Sunny in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon, Dado Ruvic, Elon Musk's, Neuralink, Musk, Mariam Sunny, Pooja Desai Organizations: REUTERS, Billionaire, U.S . Food, Drug Administration, FDA, BCI, Thomson Locations: Bengaluru

☆ Maker of MDMA-assisted PTSD treatment to seek US regulatory nod
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

A woman retrieves items from the rubble of her destroyed home after a wildfire came through the area in Talent, Oregon, Oregon, U.S. September 21, 2020. PTSD is a disorder caused by very stressful events and can significantly disrupt patients' lives. While PTSD is commonly associated with combat, civilians are not immune to it. Psychoactive ingredients, whether derived from cannabis, LSD or magic mushrooms, have long captivated mental health researchers in their quest for treatments. MAPS, founded in 1986, said it hopes the MDMA-assisted therapy will be approved next year and inspire other researchers studying therapeutic psychedelics.

Persons: Jim Urquhart, Manas Mishra, Pooja Desai Organizations: REUTERS, Multidisciplinary Association for Psychedelic Studies, U.S . Food, Drug Administration, Thomson Locations: Talent , Oregon , Oregon, U.S, United States, Bengaluru

Prime Minister Justin Trudeau said on Thursday he had invited the heads of Canada's five largest grocery chains, including Sobeys (EMPa.TO), Metro (MRU.TO) and Loblaw (L.TO), to Ottawa next week to discuss how they planned to control sky-rocketing food prices. Trudeau's move comes when governments across the globe, especially in Europe, have expressed concern over soaring food prices as they seek to address a cost-of-living crisis that has intensified after the pandemic subsided and since the Russia-Ukraine war began. However, after a similar move from the French government in June, analysts were skeptical about Trudeau's warning. They argued it was a "political" tactic and might be ineffective in lowering lingering food inflation. "Both PM Justin Trudeau and François-Philippe Champagne (Canada's industry minister) spoke tough about this topic and it is difficult to envision what teeth they have to hold grocers accountable," said Ben Jang, portfolio manager at Nikola Wealth.

Persons: Justin Trudeau, Trudeau's, François, Philippe Champagne, Ben Jang, Michael Ashley Schulman, Allan Small, Granth Vanaik, Pooja Desai Organizations: Metro, Loblaw, Nikola Wealth, Running, Capital Advisors, iA, Wealth, Carrefour, Lipton, Nestle, PepsiCo, Unilever, Thomson Locations: Ottawa, Europe, Russia, Ukraine, Bengaluru

☆ US House panel asks Hawaiian Electric CEO to testify in wildfire probe
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

The shells of burned houses and buildings are left after wildfires driven by high winds burned across most of the town in Lahaina, Maui, Hawaii, U.S. August 11, 2023. Hawai'i Department of Land and Natural Resources/Handout via REUTERS/File Photo Acquire Licensing RightsCompanies Hawaiian Electric Industries Inc FollowSept 14 (Reuters) - The U.S. House Energy and Commerce Committee on Thursday asked utility company Hawaiian Electric (HE.N) CEO Shelee Kimura to testify at a hearing investigating the causes of the wildfire that killed at least 115 people and razed the historic town of Lahaina. Along with Kimura, the committee also summoned officials of the Hawaii Public Utilities Commission and the Hawai’i State Energy Office. Last month, the panel sent letters to Hawaiian Electric as well as state utility officials, seeking information about the wildfires. Reporting by Mrinalika Roy and Sourasis Bose in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Shelee Kimura, Kimura, Mrinalika Roy, Sourasis Bose, Pooja Desai Organizations: Hawai'i Department of Land, Natural Resources, REUTERS, Hawaiian Electric Industries, U.S . House Energy, Commerce, Electric, Hawaii Public Utilities Commission, Hawai’i, Energy Office, Thomson Locations: Lahaina, Maui, Hawaii, U.S, Washington, United States, Bengaluru

☆ EY rolls out AI-powered platform after $1.4 bln tech investment
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

The EY company logo is seen at their headquarters in London, Britain, April 16 2023. The EY.ai platform has AI-embedded versions of the firm's products like the data management product EY Fabric, which is used by 60,000 clients, the company said. Every business is considering how it will be integrated into operations and its impact on the future," EY Global Chairman and CEO Carmine Di Sibio said. EY said it plans to train its staff in the technology and will release a large-language model (LLM) called EY.ai EYQ. Reporting by Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Nicholls, EY, Carmine Di Sibio, Thomson, Jaspreet Singh, Pooja Desai Organizations: REUTERS, KPMG, Accenture, Dell, SAP, Thomson Reuters, Reuters News, Thomson Locations: London, Britain, Bengaluru

☆ Meta to expand WhatsApp Channels to more than 150 countries
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. The wider rollout is happening months after WhatsApp Channels was launched in Colombia and Singapore, in June. On WhatsApp, channels are separate from chats and followers are not visible to each other. Meta said users will be able to see recommended WhatsApp Channels based on region and popularity. WhatsApp Channels will be available globally in the coming weeks and months.

Persons: Yves Herman, Instagram, Meta, Zaheer Kachwala, Pooja Desai Organizations: REUTERS, Meta, Thomson Locations: Brussels, Belgium, Colombia, Singapore, Bengaluru

☆ FDA warns CVS, others against selling unapproved eye products
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 12 (Reuters) - The U.S. Food and Drug Administration on Tuesday warned eight companies, including pharmacy giants CVS Health Corp (CVS.N) and Walgreens Boots Alliance (WBA.O), against manufacturing or marketing unapproved eye products. Some of the these eye products were labeled to contain silver, the FDA said, adding that long-term use of drugs containing silver can cause some areas of the skin and other body tissues, including in the eye, to permanently turn gray or blue-gray. CVS and Walgreens said they have stopped the sale of the unapproved eye drops, and that customers who purchased these products could return them for a full refund. The FDA warned that failure to correct the violations may result in legal action, including product seizure and court orders requiring the companies to stop manufacturing and distributing an unapproved product.

Persons: Dado Ruvic, Similasan, Leroy Leo, Mariam Sunny, Christy Santhosh, Pooja Desai, Maju Samuel Organizations: CVS, REUTERS, U.S . Food, Drug Administration, CVS Health Corp, Walgreens Boots Alliance, FDA, Walgreens, Reuters, Thomson Locations: U.S, Swiss, Bengaluru

☆ Chevron buys world's biggest hydrogen storage plant in Utah
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

HOUSTON, Sept 12 (Reuters) - U.S. oil major Chevron Corp (CVX.N) on Tuesday said it has acquired a majority stake in the world's largest proposed storage facility for hydrogen from renewable energy. U.S. majors Chevron and Exxon Mobil (XOM.N) are rushing to lower production costs and bring scale to the technology as part of their lower carbon fuel strategy. Chevron wants to develop "a large-scale, hydrogen platform that provides affordable, reliable, ever-cleaner energy,” said Austin Knight, vice president of hydrogen, Chevron New Energies. Hydrogen can also be used to store energy and used to adjust seasonal supply and demand needs in power grids. It is spending an average of $1.25 billion per year through 2028 to reduce its own emissions and expand lower carbon fuels including hydrogen.

Persons: ”, Austin Knight, Sabrina Valle, Sourasis Bose, Pooja Desai, Sharon Singleton Organizations: Chevron Corp, Chevron, Exxon Mobil, ACES, Haddington Ventures, U.S . Department of Energy, Mitsubishi Power Americas, Magnum, International Energy, Hydrogen, Thomson Locations: ACES Delta, Haddington, Delta, Utah, Chevron, Houston, Bengaluru

☆ Kroger settles opioid case, posts net loss on related charge
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Kroger logo is displayed in this illustration taken September 5, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 8 (Reuters) - Kroger (KR.N) reported a quarterly net loss on Friday as the U.S. retailer took a $1.4 billion charge related to a nationwide opioid settlement, sending its shares down as much as 3% in premarket trading. Shares of the supermarket chain, which is merging with smaller rival Albertsons (ACI.N) in a $25-billion deal, were down 1.8% in premarket trade, after its quarterly same-store sales missed market expectations. The Cincinnati, Ohio-based company posted a 1% rise in same-store sales for the second quarter. Reporting by Juveria Tabassum and Savyata Mishra; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Juveria Tabassum, Savyata Mishra, Pooja Desai Organizations: Kroger, REUTERS, Albertsons, Walmart, Thomson Locations: U.S, Cincinnati , Ohio

Sept 8 (Reuters) - Kroger (KR.N) on Friday said it would pay up to $1.2 billion to U.S. states and subdivisions and $36 million to Native American tribes to settle the majority of opioid claims brought against the company by the states and Native American Tribes. Reporting by Juveria Tabassum; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Juveria Tabassum, Pooja Desai Organizations: Kroger, Tribes, Thomson Locations: U.S

Search resuls for: "Pooja Desai"

25 mentions found