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July 11 (Reuters) - Sapphire Ventures plans to invest over $1 billion in AI enterprise startups, doubling down on the technology's adoption by companies across the world, its president Jai Das said at the Reuters MOMENTUM conference in Austin on Tuesday. The $1 billion in capital will come from Sapphire's existing funds, which have $10 billion under management and about $3 billion waiting to the deployed. The majority will be a direct investment in AI startups, while some capital will also go to early-stage AI-focused venture funds through its limited partner fund. Over $40 billion has been invested into AI startups in the past six months, accounting for nearly a quarter of overall startup funding, according to PitchBook data. With headquarters in Austin, Texas, Sapphire has invested in AI-powered enterprise startups including Clari and DataRobot.

Persons: Jai Das, it's, Sapphire, Das, Krystal Hu, David Evans, Deepa Babington Organizations: Sapphire Ventures, Thomson Locations: Austin, Austin , Texas

WASHINGTON, July 10 (Reuters) - A judge on Monday ordered Kansas to stop allowing transgender people to change the gender listed on their driver's licenses after a lawsuit filed by the state's Republican attorney general. Shawnee County District Court Judge Teresa Watson issued the temporary restraining order on Monday. Some states have banned teachers of younger children from discussing gender or sexuality, while conservative lawmakers have also proposed or passed laws restricting drag performances. In June, President Joe Biden warned of "ugly" attacks from "hysterical" people who he said were targeting LGBTQ+ Americans, especially transgender youth. Reporting by Kanishka Singh in Washington, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Laura Kelly, Kris Kobach, Teresa Watson, Kobach, Joe Biden, Kanishka Singh, Deepa Babington Organizations: Republican, Democratic, Kansas Department of Revenue, Defamation League, Thomson Locations: Kansas, Shawnee County, U.S, Washington

[1/8] Delayed travelers wait for air traffic to resume at Ronald Reagan Washington National Airport ahead of the July 4th holiday weekend in Arlington, Virginia, U.S., June 30, 2023. The AAA estimates do not include Thursday, June 29, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday weekend. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. Still, the airline has said it would be "on track" to restore operations for the holiday weekend when it expects 5 million people to fly with it.

Persons: Ronald Reagan, Evelyn Hockstein NEW, Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington, Jonathan Oatis Organizations: Ronald Reagan Washington National Airport, REUTERS, AAA, Federal Aviation Administration, U.S . Transportation Security Administration, FAA, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, United States, Washington, U.S . East Coast, Chicago, FlightAware, New York

The AAA estimates do not include Thursday, June 29th, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. The disruptions have left passengers fuming, with many United customers venting frustration on social media about long lines, delays in rebooking flights and misplaced luggage. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. American Airlines (AAL.O) expects nearly three million customers from Friday, June 30, through Tuesday, July 4, across more than 26,000 scheduled flights.

Persons: Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington Organizations: YORK, AAA, Federal Aviation Administration, FAA, Washington D.C, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: U.S, Washington, U.S . East Coast, Chicago, FlightAware, New York

☆ S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data
▼ + stars: | 2023-06-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Financials (.SPSY) led the gainers after the Federal Reserve's stress test showed U.S. lenders have adequate capital to weather an economic storm. Treasury yields rose, with 10-year yields touching their highest level since early March after economic reports painted a picture of a solid U.S. economy, promoting the "higher for longer" scenario with respect to restrictive monetary policy. The dollar touched a two-week high against a basket of world currencies as upbeat economic data provided cushion to the Fed to continue raising rates. Oil prices posted modest gains as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

Persons: Brendan McDermid, Russell, Michael Green, Joseph Sroka, Brent, Stephen Culp, Marc Jones, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Dow, Nasdaq, Management, Dow Jones, Reuters Graphics Reuters, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Atlanta, Spain, Asia, Pacific, Japan, London

☆ Jury acquits former Florida deputy of failing to protect students in Parkland school shooting
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

June 29 (Reuters) - A Florida jury on Thursday acquitted a former sheriff's deputy accused of failing to protect students during the 2018 mass shooting at Parkland's Marjory Stoneman Douglas High School. After the verdict, Peterson told reporters at the courthouse that he would like to talk to the parents of students who lost their lives in the shooting. Peterson was armed but never went inside while the shooting was underway, according to the Broward County Sheriff's Office and surveillance video. A jury in October spared Nikolas Cruz, the gunman in the Parkland shooting, from the death penalty, instead calling for life in prison without possibility of parole. In May, the United States marked the one-year anniversary of the deadliest U.S. school shooting in nearly a decade, in which a gunman in Uvalde, Texas, killed 19 children and two teachers and injured 17 others.

Persons: Parkland's Marjory Stoneman, Scot Peterson, Peterson, Tony Montalto, Gina, Montalto, Nikolas Cruz, Julia Harte, Deepa Babington Organizations: Parkland's, Parkland's Marjory Stoneman Douglas High School, Broward State Attorney’s Office, Broward County Sheriff's Office, Police, Texas Department of Public Safety, Thomson Locations: Florida, Broward County, Parkland, United States, Uvalde , Texas

WASHINGTON, June 29 (Reuters) - The International Monetary Fund's executive board on Thursday completed its first review of Ukraine's $15.6 billion loan program, allowing Kyiv to immediately withdraw $890 million for budget support as it mounts a major offensive against Russia's invasion. The IMF said Ukrainian authorities have made "strong progress" toward meeting reform commitments under "challenging conditions," meeting quantitative performance criteria through April and structural benchmarks through June. IMF Ukraine mission chief Gavin Gray told reporters the IMF is continuing to study the social, environmental and economic impacts of the destruction of the Kakhovka Dam earlier this month, which caused widespread flooding in southern Ukraine. The IMF expects to carry out its next review of Ukraine's program in late November or early December, the official added. Gray said Ukrainian authorities also needed to continue work on strengthening governance and fighting corruption, with new legislation passed by the end of September.

Persons: Kristalina Georgieva, Georgieva, Gavin Gray, Gray, David Lawder, Andrea Shalal, Leslie Adler, Deepa Babington, Richard Chang Organizations: Monetary Fund's, IMF, Thomson Locations: Kyiv, Ukraine, IMF Ukraine

REUTERS/Evelyn Hockstein/File PhotoWILMINGTON, Delaware, June 29 (Reuters) - A prominent U.S. lawsuit to ban the abortion pill mifepristone has focused on the drug's safety and approval process. Skop and 10 other doctors submitted their testimony when the case began in November. She said she was harmed by the FDA expanding access to the pill because she has treated dozens of women at her hospital's emergency room with mifepristone complications. Erin Hawley, an attorney with the Alliance Defending Freedom legal organization representing the plaintiffs, said abortion sets the case apart. In the abortion pill case, the two initial court rulings found harm to Skop and other doctors was "impending" because the mifepristone label says the treatment may be unsuccessful in up 7% of women.

Persons: Evelyn Hockstein, mifepristone, Ingrid Skop, Roe, Wade, Skop, doesn’t, Leah Litman, Erin Hawley, Hawley, Matthew Kacsmaryk, Samuel Alito's, Danco, Tom Hals, Amy Stevens, Deepa Babington Organizations: Alamo Women's, REUTERS, U.S . Food, Drug Administration, Supreme, FDA, University of Michigan Law School, Alliance Defending, Alliance for Hippocratic, District, Appeals, U.S, Fifth, Amnesty International, Danco Laboratories, Thomson Locations: Carbondale , Illinois, U.S, WILMINGTON , Delaware, Texas, America, Amarillo , Texas, Amarillo, New Orleans, Louisiana, United States, Wilmington , Delaware

☆ Ethiopia asks to join BRICS bloc of emerging economies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Ethiopia, one of Africa's fastest-growing economies, has asked to join the BRICS bloc of emerging markets, the foreign ministry said on Thursday. The term BRIC was coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the rise of Brazil, Russia, India and China. South Africa joined in 2010. Ethiopia will continue to work with international institutions that can protect its interests, he said. BRICS countries account for more than 40% of the world's population and about 26% of the global economy.

Persons: Goldman Sachs, Jim O'Neill, Meles Alem, Vladimir Putin, Hereward Holland, Deepa Babington Organizations: International Monetary Fund, West ., Thomson Locations: Ethiopia, Brazil, Russia, India, China, South Africa, ENA, Africa, Argentina, West, West . South Africa

Banks' commercial real estate portfolios performed better than expected, showing $65 billion in losses or 8.8% of average loan losses, slightly down on last year's 9.8%, the Fed said. "Some may ask how all the banks can get a regulatory thumbs-up when the industry just went through a period of turmoil. The test assesses whether banks would stay above the required minimum 4.5% capital ratio. The average capital ratio for the 23 banks was 10.1%, the Fed said. That compares with 9.7% last year, when the central bank tested 34 lenders against a slightly easier scenario.

Persons: Morgan Stanley, Goldman Sachs, Charles Schwab, Michael Barr, ” Barr, Banks, Barr, Lindsey Johnson, Dennis Kelleher, Ian Katz, Pete Schroeder, Caroline Valetkevich, Deepa Babington, Stephen Coates Organizations: Federal, JPMorgan Chase, Bank of America, Citigroup, Charles Schwab Corp, Deutsche Bank's, Financial Corp, U.S . Bancorp, Valley Bank, Wells, JPMorgan, Industry, Consumer Bankers Association, U.S, Treasury, T Bank, PNC Financial, Citizens Financial, Better, Fed, Capital Alpha Partners, Thomson Locations: Big U.S, Wells Fargo, U.S

Companies Amazon.com Inc FollowJune 28 (Reuters) - A U.S. judge has dismissed a lawsuit against Amazon.com Inc (AMZN.O) brought by the parents of two teenagers who committed suicide by consuming sodium nitrite they bought on the online retailer's platform. "Kristine and Ethan's fates were undisputedly tragic, but the court can only conclude that they necessarily knew the dangers of bodily injury and death associated with ingesting sodium nitrite," Robart wrote. "There are no household uses for sodium nitrite and no consumer, let alone children, could reasonably know how lethal it was," she said. "In Washington State it is against the law to aid in suicide and that's exactly what Amazon did." The case is McCarthy et al v Amazon.com Inc, U.S. District Court, Western District of Washington, No.

Persons: James Robart, Ethan McCarthy, Kristine Jónsson, McCarthy, Robart, Kristine, Carrie Goldberg, Jonathan Stempel, Deepa Babington Organizations: Amazon.com Inc, District, Amazon, Police, Western District of Washington, Thomson Locations: U.S, Seattle, Washington, Hilliard , Ohio, Milton , West Virginia, Washington State, Western District, New York

Banks typically provide research to clients as part of a broader offering of services, but that changed when the European Union introduced the Markets in Financial Instruments Directive (MiFID) II laws in 2018 to improve transparency. "It took about a year for us to become compliant to MiFID II laws -- it was a long, intense process," said Candace Browning, head of BofA Global Research. U.S. financial firms were initially given an exemption by the U.S. Securities and Exchange Commission, which expires on July 3. "Companies continue to face challenges complying with the MiFID II unbundling requirement and U.S. law," said Joe Corcoran, SIFMA's managing director and associate general counsel for capital markets. 'EXPENSIVE AND COMPLICATED' In Europe, asset managers under MiFID II are not allowed to pay for research through broker commissions on trading -- instead, investors are billed separately by banks for research.

Persons: Banks, Candace Browning, Joe Corcoran, SIFMA's, SIFMA, MiFID, Michael Eastwood, Jefferies, Jesse Forster, BofA, salespeople, Browning, Forster, Russell Sacks, Nupur Anand, Lananh Nguyen, Deepa Babington Organizations: YORK, Bank of America Corp, Jefferies Financial, European Union, Financial, BofA Global, U.S . Securities, Exchange Commission, Securities Industry, Financial Markets Association, SEC, Jefferies, Coalition, King, Spalding, Thomson Locations: Europe, U.S, Greenwich, Coalition Greenwich, New York

OTTAWA, June 28 (Reuters) - Debris from the tourist submersible destroyed in an implosion that killed the five people aboard were recovered along with presumed human remains and brought ashore on Wednesday for examination, the U.S. Coast Guard said. U.S. medical professionals also "will conduct a formal analysis of presumed human remains that have been carefully recovered within the wreckage at the site of the incident," the Coast Guard statement added. Footage also showed a shattered piece of the Titan's hull and machinery with dangling wires being taken off the ship at St. John's, where the expedition to the Titanic had begun. [1/6]A view of the Horizon Arctic ship, as salvaged pieces of the Titan submersible from OceanGate Expeditions are returned, in St. John's harbour, Newfoundland, Canada June 28, 2023. Among the dead was Stockton Rush, the submersible pilot and CEO of U.S.-based OceanGate Expeditions, which owned and operated the Titan.

Persons: David Hiscock, Hamish Harding, Shahzada Dawood, Paul, Henri Nargeolet, OceanGate, Ismail Shakil, Steve Gorman, Deepa Babington, Leslie Adler Organizations: OTTAWA, U.S . Coast Guard, Canadian, Coast Guard, Guard, Canadian Broadcast Corp, OceanGate Expeditions, REUTERS, Canada's Transportation, Stockton Rush, Expeditions, Thomson Locations: St, John's, Newfoundland, Canada, U.S, North, British, Ottawa, Los Angeles

The company, Marion Biotech, bought the ingredient — propylene glycol (PG) — from trader Maya Chemtech India, as reported by Reuters. "Marion bought commercial-grade propylene glycol," said a second source, an investigator, who declined to be named while the inquiry is ongoing. International standards allow only trace amounts of EG and DEG in pharmaceutical-grade propylene glycol. The toxins were found in cough syrups exported to Gambia by the other Indian company, Maiden Pharmaceuticals. India made it mandatory for companies to have their cough syrups tested before export from June.

Persons: Marion, Deepak Sharma, Max, Vijay Kumar, Tuhin Bhattacharya, Mool Singh, Atul Rawat, Jaya Jain, Sachin Jain, Rohan Gupta, syrups, Maiden, Saurabh Sharma, Krishna, Jennifer Rigby, Olzhas, Sara Ledwith, Michele Gershberg, Deepa Babington Organizations: Reuters, Marion Biotech, Indian, EG, World Health Organization, Authorities, . Police, Marion, Court, Maya, Maiden Pharmaceuticals, WHO, Thomson Locations: DELHI, Uzbekistan, India, Delhi, Marion, Uttar Pradesh, Allahabad, Gambia, Indonesia, London, Almaty

☆ Pieces of shattered Titanic submersible brought ashore in Canada
▼ + stars: | 2023-06-28 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

OTTAWA, June 28 (Reuters) - A Canadian-flagged ship on Wednesday brought ashore debris from the Titan submersible that imploded while on a voyage to the century-old wreck of the Titanic earlier this month, killing all five people on board. [1/5]A view of the Horizon Arctic ship, as salvaged pieces of the Titan submersible from OceanGate Expeditions are returned, in St. John's harbour, Newfoundland, Canada June 28, 2023. The deep-sea submersible operated by OceanGate Expeditions was discovered in pieces on the seabed some 1,600 feet (488 meters) from the bow of the Titanic by a robotic diving vehicle last week, ending a multinational five-day search for survivors. "Our team has successfully completed off-shore operations, but is still on mission and will be in the process of demobilization from the Horizon Arctic this morning," Pelagic Research, which operates the robotic vehicle, said in a statement. Footage also showed a shattered part of the hull and machinery with dangling wires being taken off the ship at St. John's, where the expedition to the Titanic had set off from.

Persons: Hamish Harding, Shahzada Dawood, Paul, Henri Nargeolet, David Hiscock, Ismail Shakil, Deepa Babington Organizations: OTTAWA, Titan, Canadian Broadcast Corporation, OceanGate Expeditions, Stockton Rush, REUTERS, Thomson Locations: John's, Newfoundland, British, Pakistani, St, Canada, Ottawa

Oanda analyst Craig Erlam said prices were mainly at the mercy of "the ever-changing expectations for interest rates". European Central Bank President Christine Lagarde said on Tuesday that stubbornly high inflation will require the bank to avoid declaring an end to rate hikes. Higher interest rates can weigh on economic activity and oil demand. But the upbeat data suggested the Federal Reserve will likely have to continue raising interest rates to slow demand in the overall economy. The U.S. central bank, which has raised its policy rate by 500 basis points since March 2022, signaled this month that two additional rate hikes were warranted this year.

Persons: Brent, Craig Erlam, Christine Lagarde, Phil Flynn, Wagner, PVM's Tamas Varga, Saudi Arabia's, Li Qiang, Stephanie Kelly, Shadia Nasralla, Trixie Yap, Jan Harvey, David Goodman, Ed Osmond, Deepa Babington, Mark Heinrich Our Organizations: Brent, . West Texas, European Central Bank, Price Futures, Reserve, American Petroleum Institute, Reuters, Saudi, Thomson Locations: contango, Europe, United States, U.S, Russia, China

☆ Wall Street rallies, dollar softens after solid economic data
▼ + stars: | 2023-06-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - U.S. stocks moved sharply higher in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors' risk appetite. "The economic data today was particularly strong," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Emerging market stocks rose 0.58%. U.S. Treasury yields edged higher as solid economic data calmed recession jitters. Crude prices slid after U.S. economic indicators surprised to the upside, ahead of energy demand data expected later in the session.

Persons: Brendan McDermid, Thomas Martin, Martin, Jerome Powell's, Christine Lagarde, Lagarde, Brent, Stephen Culp, Elizabeth Howcroft, Chizu Nomiyama, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, GLOBALT Investments, Financial, European Central Bank, ECB, Dow Jones, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Atlanta, China, Asia, Pacific, Japan, London

☆ Bankman-Fried loses bid to toss criminal charges over FTX's collapse
▼ + stars: | 2023-06-27 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

NEW YORK, June 27 (Reuters) - A U.S. judge on Tuesday denied Sam Bankman-Fried's bid to have criminal charges against him thrown out, paving the way for the founder of now-bankrupt cryptocurrency exchange FTX to face trial starting Oct. 2. In May, Bankman-Fried asked U.S. District Judge Lewis Kaplan to dismiss at least 11 of the 13 fraud and conspiracy charges he faced. "The arguments are either moot or without merit," Kaplan wrote in a ruling on Thursday. A spokesman for Bankman-Fried did not immediately respond to a request for comment. Reporting by Luc Cohen in New York, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Deepa Babington Organizations: YORK, Federal, Alameda Research, U.S, District, Supreme, Thomson Locations: U.S, Manhattan, FTX, Bahamas, United States, New York

[1/6] A general view of the Bank of America financial center in New York City, U.S., June 26, 2023. REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - Bank of America Corp (BAC.N) is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co (JPM.N). Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans. The openings will give BofA a retail presence in 39 states, compared with JPMorgan, the largest U.S. lender, which has branches in 49 states. Holly O'Neill, Bank of America's president of retail banking, said last month that she expects good performance for the unit in the second quarter.

Persons: Brendan McDermid, Brian Moynihan, Moynihan, Aron Levine, Holly O'Neill, Saeed Azhar, Lananh Nguyen, Deepa Babington Organizations: Bank of America, REUTERS, Bank of America Corp, JPMorgan Chase &, JPMorgan, Federal Reserve, Consumer, CNN, Reuters, Bank of, Thomson Locations: New York City, U.S, Nebraska , Wisconsin , Alabama, Louisiana, Louisville, Milwaukee, New Orleans

The central bank on Wednesday will release the results of its bank "stress tests" which assess how much capital banks would need to withstand a severe economic downturn. The annual exercise, introduced following the 2007-2009 financial crisis, is integral to banks' capital planning, dictating how much cash they can return to shareholders via dividends and share buybacks. Despite the turmoil, and the exam being the hardest in years, bank analysts and executives expect the 23 lenders being tested will show capital in excess of regulatory minimums. While that will not affect capital, it will be used to assess potentially employing multiple scenarios in future stress test exercises. "In an environment of ever-changing risks, stress tests can quickly lose their relevance if their assumptions and scenarios remain static," said Barr in December.

Persons: Nick Zieminski WASHINGTON, JPMorgan Chase, Goldman, Morgan Stanley, jitters, Wells, Jefferies, Randal Quarles, Michael Barr, Barr, Pete Schroeder, Michelle Price, Deepa Babington Organizations: Citibank, REUTERS, Big U.S, Bank, U.S, Treasury, Citigroup Inc, Bank of America, JPMorgan, Goldman Sachs, Capital, U.S . Bancorp, Citizens, Fed, Bank Policy Institute, RBC, Thomson Locations: Jackson, Queens, New York City, U.S, Big, Silicon, Wells Fargo, Washington

WASHINGTON, June 26 (Reuters) - President Joe Biden on Monday said a brief uprising by Russian mercenaries against the Kremlin was part of a struggle within the Russian system and that the United States and its allies were not involved in it. "We made clear we were not involved, we had nothing to do with this," Biden said in his first comments on the uprising by Wagner mercenaries that fizzled over the weekend. The Biden administration would not address a widely held perception in Washington that the uprising showed that Russian President Vladimir Putin has been weakened by his 16-month war against Ukraine. The White House said Biden also consulted on Monday with Italian Prime Minister Giorgia Meloni about the situation. Kirby said the United States does not know the parameters of the deal reached between Putin and Prigozhin that ended the uprising.

Persons: Joe Biden, Biden, Wagner, John Kirby, Sergei Lavrov, Yevgeny Prigozhin's, Vladimir Putin, Matt Miller, Putin's, Yevgeny Prigozhin, Putin, Volodymyr Zelenskiy, Giorgia Meloni, It's, Kirby, We're, Jeff Mason, Steve Holland, Simon Lewis, Jonathan Landay, Phil Stewart, Kanishka Singh, Trevor Hunnicutt, Humeyra Pamuk, Mark Porter, Alistair Bell, Alex Richardson, Deepa Babington, Sandra Maler Organizations: Kremlin, Ukraine, White House, TASS, U.S ., Ukraine . State, NATO, Italian, Putin, Reuters, Thomson Locations: Russian, United States, Russia, Moscow, U.S, Washington, Ukraine, United

Pfizer CEO Albert Bourla has said an obesity pill could eventually be a $10-billion-a-year product for Pfizer. Truist Securities analyst Robyn Karnauskas said Lilly is now ahead in the race for a once-a-day obesity pill. Pfizer said last month that danuglipron helped patients lose weight on par with Novo Nordisk's (NOVOb.CO) Ozempic in a mid-stage study that tested it in patients with Type 2 diabetes. None of the patients in the lotiglipron trials reported liver-related symptoms or side effects, there was no evidence of liver failure and none required treatment, Pfizer said. Liver enzyme elevations observed in lotiglipron trials have not been seen in patients enrolled in danuglipron trials, the company added.

Persons: Albert Bourla, Eli Lilly, LLY.N, Robyn Karnauskas, Lilly, Pfizer, danuglipron, Manas Mishra, Leroy Leo, Michael Erman, Pooja Desai, Jason Neely, Deepa Babington Organizations: Pfizer Inc, Pfizer, NYSE Arca Pharmaceutical, Truist Securities, Novo Nordisk's, Thomson Locations: United States, Bengaluru, New Jersey

☆ Lilly experimental 'triple G' obesity drug leads to 24.2% weight loss in trial
▼ + stars: | 2023-06-26 | by ( Deena Beasley | ) www.reuters.com time to read: +2 min

Companies Eli Lilly and Co FollowJune 26 (Reuters) - Eli Lilly (LLY.N) on Monday said a mid-stage trial of its next-generation obesity drug candidate "triple G" showed that it led to weight loss of up to 24.2% after 48 weeks, surpassing results seen with other weight loss drugs. Lilly's Mounjaro, which is awaiting U.S. regulatory approval for treatment of obesity, targets GLP-1 as well as a second obesity-related hormone called GIP. Retatrutide targets GLP-1, GIP and the body's receptors for a third hormone, glucagon. Given the three targets, Lilly has nicknamed the drug triple G.The company reported last year that a trial of Mounjaro in people who were obese or overweight found it led to weight loss of 22.5% after 72 weeks. Lilly is conducting longer-duration phase 3 trials of retatrutide to see if weight loss might be further improved.

Persons: Eli Lilly, Lilly's, Lilly, ” Dan Skovronsky, Deena Beasley, Deepa Babington, Cynthia Osterman Organizations: American Diabetes Association, New England, of Medicine, Thomson Locations: San Diego

☆ Ambitious plans for US-India technology sharing face hurdles
▼ + stars: | 2023-06-23 | by ( David Brunnstrom | ) www.reuters.com time to read: +5 min

Standing in the way are strict U.S. rules governing export of defense technology, including International Traffic in Arms Regulations (ITAR). Ely Ratner, assistant secretary of defense for Indo-Pacific affairs, has stressed the need to break down barriers to technology sharing with allies and partners, including India. But one congressional aide said efforts to speed technology sharing with India would face "an uphill battle" both in the U.S. Congress and at the U.S. State Department, where officials have a specific obligation to protect U.S. technology. "There are concerns about (technology sharing) in the Australia context and there would be more concerns in the India context," he said. Rick Rossow, an India expert at Washington's Center for Strategic and International Studies, said approval processes for advanced defense technology transfer were "onerous but not impossible."

Persons: Joe Biden, Narendra Modi, Elizabeth Frantz WASHINGTON, Biden, Ely Ratner, Democrat Mark Warner, Republican John Cornyn, Bill Greenwalt, Greenwalt, ITAR, Rick Rossow, David Brunnstrom, Mike Stone, Patricia Zengerle, Don Durfee, Deepa Babington Organizations: India's, White, REUTERS, United, Indian, General Electric Co, Center, New, New American Security, TECH, U.S . Senate India Caucus, Democrat, Republican, U.S . Congress, U.S . State Department, Pentagon, GE, State Department, U.S . Missile Technology Control, Washington's Center, Strategic, International Studies, Thomson Locations: Washington , U.S, United States, India, New Delhi, Asia, U.S, Britain, Australia, New American, Russia, Ukraine, Delhi

☆ Morning Bid: Another round of rate hikes, macro data on tap
▼ + stars: | 2023-06-22 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +2 min

Asian markets will be waking up to a jolt of central bank rate hikes and looking ahead to a big round of macro data on Friday. The Bank of England surprised many investors on Thursday by raising interest rates by a bigger-than-expected half a percentage point, lifting its main interest rate to 5%, the highest since 2008. England wasn't alone: The Swiss National Bank raised its policy rate and signaled more tightening was likely, while Norway's central bank raised its key policy rate to a 15-year high. In the U.S., Federal Reserve Chair Jerome Powell told a Congressional hearing that the central bank would move interest rates at a "careful pace" from here after pausing hikes at its last meeting. The mood could shift on Friday, as data will give a glimpse into how much central bank tightening is weighing on global growth.

Persons: Lewis Krauskopf, England wasn't, Jerome Powell, Deepa Babington Organizations: Bank of England, Swiss National Bank, Reuters Graphics Reuters, Nasdaq, U.S, Global, Japan CPI, Singapore CPI, Reuters, Thomson Locations: Lewis, U.S, England, Europe, United States, Japan, Malaysia, Singapore

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