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Walgreens Contributed to San Francisco Opioid Crisis
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Walgreens Contributed to San Francisco Opioid Crisis

By JULIET WILLIAMS, Associated PressSAN FRANCISCO (AP) — A federal judge ruled Wednesday that Walgreens can be held responsible for contributing to San Francisco's opioid crisis for over-dispensing highly addictive drugs for years without proper oversight and failing to identify and report suspicious orders as required by law.San Francisco City Attorney David Chiu said the pharmacy chain “continually violated what they were required to do under the federal Controlled Substances Act,” failing to track opioid prescriptions, preventing pharmacists from vetting prescriptions and “nor did they see the many red flags of physicians and others who were dramatically over-prescribing.”“Pharmacists were pressured to fill, fill, fill," he said, “and as a result, Walgreens filled our streets with op...
European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps
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European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps

(Reuters) -European shares edged lower on Wednesday on losses in technology stocks ahead of key inflation data from the United States, while gains in supermarket major Ahold Delhaize kept declines in check.The pan-European STOXX 600 index dipped 0.1%, tracking a second straight session of losses after a strong start to the week.A higher-than-expected U.S. Consumer Price Index report for July could spook markets after a surprisingly robust hiring report last week. Markets are expecting a high chance of a 75 basis point interest rate hike by the Federal Reserve next month as the U.S. central bank remains focused on taming decades-high inflation."Markets seem to be going into today's all-important U.S. CPI a little on the apprehensive side," Deutsche Bank strategist Jim Reid wrote."It's ce...
Asian Shares Track Wall Street Losses Ahead of U.S. Inflation Data
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Asian Shares Track Wall Street Losses Ahead of U.S. Inflation Data

(Reuters) - Asian shares fell and the dollar steadied on Wednesday as investors waited for a key U.S. report on inflation to provide hints to the Federal Reserve's plans for future monetary tightening.The Consumer Price Index (CPI) report will be released later today, with markets watching for signs that inflation eased in July despite last week's unexpectedly strong U.S. jobs numbers.MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.51%, while Japan's Nikkei extended losses from the previous day and was down 0.65%.South Korea's KOSPI lost 0.64%, Australia's AXJO dropped 0.12%, and Taiwan's TAIEX fell 0.70%."I don’t think that we are through the bear market woods yet – recession risks loom and I don’t think the Fed is done with its aggressive belt tightening," said David...
Elon Musk’s Tech Allies Miffed About Twitter Subpoenas
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Elon Musk’s Tech Allies Miffed About Twitter Subpoenas

SAN FRANCISCO (AP) — Elon Musk’s wealthy high tech allies don’t seem too happy about receiving subpoenas from Twitter as part of the company’s legal battle with the Tesla CEO.San Francisco-based Twitter is suing Musk in Delaware in an attempt to get him to complete his $44 billion acquisition of the social media company, a deal Musk is trying to get out of. According to a report from The Washington Post, Twitter’s legal team on Monday asked for information about a host of tech investors and entrepreneurs connected to Musk in a wide-ranging subpoena. Twitter declined to comment.According to the Post, the subpoena includes “extensive requests for communications, including 'checklists, timelines, presentations, decks, organizational calls, meetings, notes, recordings' related to the deal’s...
Citigroup Plans 500 Hires for New Wealth Unit
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Citigroup Plans 500 Hires for New Wealth Unit

(Reuters) - Citigroup Inc is planning to hire 500 employees over the next three years for a new wealth division, Bloomberg News reported on Tuesday, citing an interview with the segment's global head.Naz Vahid told Bloomberg the new unit, called Wealth at Work, would cater to junior employees at private equity offices and accounting firms, betting those clients will someday join the ranks of the ultra wealthy and maintain their relationship with Citigroup.The bank did not immediately respond to a Reuters request for comment.(Reporting by Niket Nishant in Bengaluru)Copyright 2022 Thomson Reuters. Source link
Yen Recovery Continues on Lower U.S. Yields; Markets on Edge Over Pelosi
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Yen Recovery Continues on Lower U.S. Yields; Markets on Edge Over Pelosi

HONG KONG (Reuters) - The dollar continued its decline on Tuesday, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies.The greenback fell as low as 130.595 yen in early trading, its lowest since June 6, and was last down 0.55%, leaving it down 4% in the past four sessions."Its the same old story with the yen being very sensitive to the gap between U.S. and Japanese government bond yields. Of course Japanese ones aren't moving because ...
Asian Shares Mixed on US Rally, China Economic Growth Woes
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Asian Shares Mixed on US Rally, China Economic Growth Woes

By YURI KAGEYAMA, AP Business WriterTOKYO (AP) — Asian shares were mixed Friday, as Chinese shares sank after leaders acknowledged the official 5.5% growth target for this year won't be met.Investors appear to have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after the Commerce Department reported the U.S. economy contracted at a 0.9% annual pace in the last quarter. That followed a 1.6% year-on-year drop in the first quarter.Investors were also cautiously eyeing regional tensions over China’s stance on Taiwan after President Joe Biden and China’s Xi Jinping spoke for more than two hours on Thursday. China left no doubt it blames the U.S. for a deteriorating relationship, but the White House said call's aim was to ...
China Will Keep Forex Market Steady in H2
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China Will Keep Forex Market Steady in H2

BEIJING (Reuters) - China will keep its foreign exchange markets steady in the second half of this year and will safeguard the country's economic and financial security, the foreign exchange regulator said on Friday.China will also improve capital management of foreign investors' investments in the domestic bond market and strengthen risk supervision and risk response of cross-border capital flows, the State Administration of Foreign Exchange said in a statement after a meeting on foreign exchange management operations.(Reporting by Beijing Newsroom; Editing by Jacqueline Wong)Copyright 2022 Thomson Reuters. Source link
2nd State in Mexico Begins Avocado Exports to U.S. Market
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2nd State in Mexico Begins Avocado Exports to U.S. Market

By MARK STEVENSON, Associated PressMEXICO CITY (AP) — U.S. consumers will finally get the chance to try avocados from Jalisco after 25 years in which neighboring Michoacan has been the only Mexican state authorized to send the green fruit to the U.S. market.That just may help with prices, which have soared this year to over $2 per fruit amid a dip in production in Michoacan.Growers and packers in Jalisco, just northwest of Michoacan, expressed hope that their state can provide more consistent production levels and stability for prices for avocados, which have fluctuated widely amid seasonal supply shortages.Eleven trucks bearing 200 tons of avocados from Jalisco lined up Thursday in the mountain town of Zapotlan El Grande to set out for the United States.Political Cartoons on World Lead...
JetBlue Buys Spirit for $3.8 Billion
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JetBlue Buys Spirit for $3.8 Billion

JetBlue is buying Spirit Airlines for $3.8 billion, creating the nation's fifth largest airline.The agreement Thursday comes a day after Spirit's attempt to merge with Frontier Airlines fell apart.JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction. There's also a ticking fee of 10 cents per month starting in January 2023 through closing.The combined airline will have a fleet of 458 aircraft. The airlines will continue to operate independently until after the transaction closes.Political CartoonsCopyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Source link