President Joe Biden is preparing to announce that he will formally block Nippon Steel’s proposed $14.9 billion acquisition of U.S. Steel, according to three people with knowledge of the matter. ... Read More
Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.... Read More
A federal judge in Texas on Tuesday struck down the Federal Trade Commission’s ban on noncompete agreements, finding that the agency exceeded its authority with a rule that would have voided contracts that bar workers from moving to rival employers.... Read More
Grocery giant Kroger sued the Federal Trade Commission on Monday, challenging an administrative proceeding meant to block its proposed $24.6 billion merger with rival Albertsons. The lawsuit contends the regulator’s challenge in administrative court is...... Read More
Circle K operator Alimentation Couche-Tard Inc. made a proposal to take over much larger rival and 7-Eleven owner Seven & i Holdings Co., in what would be the biggest foreign takeover of a Japanese company. A merger would create the world’s top operator of...... Read More
Reckitt Benckiser Group Plc said sales will be affected by a tornado that struck a warehouse in Mount Vernon, where it stores products and raw ingredients for its baby formula business. The consumer goods company said the third-party warehouse has not...... Read More
The PepsiCo factory that sparked a massive recall for its Quaker Oats brand came after the company let salmonella fester at the facility for as long as four years, according to regulators. Quaker Oats shut down its plant in Danville, Illinois in April.... Read More
Employers added 272,000 jobs in May, shooting past expectations in a sign of a booming labor market that continues to defy economists’ predictions of a slowdown. However, the unemployment rate ticked up to 4%, ending a historic 27-month streak of...... Read More
Eli Lilly & Co.’s Mounjaro is being recommended for weight loss for some UK patients with obesity, in draft guidance that could see the National Health Service offer a rival drug to Novo Nordisk A/S’s hit treatment Wegovy. Patients with a body mass index of...... Read More
Tesla settled another case linking a passenger’s death with an alleged vehicle design defect, records show, the second time in less than two months that the automaker has avoided a jury trial just days before it was set to begin. The lawsuit alleged that a...... Read More
