Business

June 9 (Reuters) – The Biden administration on Friday announced it would impose inflation penalties on 43 drugs for the third quarter of 2023, having fined 27 earlier this year, in a move it said would lower costs for older Americans by as much as $449 per dose.Drugmakers hiked the price of these 43 drugs… […]

June 8 (Reuters) – Motorcycle maker Harley-Davidson (HOG.N) has temporarily halted production at its York, Pennsylvania, assembly plant for the second time in just over 12 months due to a parts shortage, the company said.Production at the facility, its largest with nearly 1,000 union employees, will resume on June 13, it noted in an emailed… […]

MADRID, June 8 (Reuters) – U.S. electric car manufacturer Tesla (TSLA.O) is in talks with the leaders of the regional government of Valencia in Spain to make an automotive investment, a source close to the discussions has told Reuters.A spokesperson for Valencia’s regional government told Reuters it had held meetings and conversations with an unidentified… […]

NEW YORK, June 8 (Reuters) – Bank of America Corp (BAC.N) promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday.The leadership change was one of several announced by the second largest U.S. bank. It also elevated… […]

TOKYO, June 8 (Reuters) – Japanese truck maker Isuzu Motors (7202.T) said on Thursday it was not planning to move a factory to Indonesia from Thailand, a day after the Indonesian industry minister signalled it would.”While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai… […]

WASHINGTON, June 8 (Reuters) – Other U.S. crypto exchanges are likely to be in the firing line after the Securities and Exchange Commission (SEC) this week sued Coinbase and Binance, two of the world’s largest crypto exchanges, for allegedly breaching its rules.The SEC on Tuesday alleged Coinbase traded at least 13 crypto assets that are… […]

[1/2] Boeing employees assemble 787s inside their main assembly building on their campus in North Charleston, South Carolina, U.S., May 30, 2023. Gavin McIntyre/Pool via REUTERSWASHINGTON, June 6 (Reuters) – Boeing (BA.N) said on Tuesday it could be forced to slow deliveries of its 787 Dreamliner after the company discovered a new production flaw that… […]

[1/2] Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/IllustrationWASHINGTON, June 6 (Reuters) – Senate Majority Leader Chuck Schumer said on Tuesday he has scheduled three briefings for senators on artificial intelligence, including the first classified briefing on the topic.In a letter to colleagues on Tuesday, the Democratic leader said… […]

[1/2] Electric New York City Parks Department vehicles are seen charging in Central Park in New York City, U.S., April 12, 2023. REUTERS/David Dee DelgadoNEW YORK, June 6 (Reuters) – The Biden administration will abandon a proposal to include the electric vehicle industry in the U.S. biofuel blending program and withdraw potentially billions of dollars… […]

OTTAWA, June 6 (Reuters) – Authorities in New York, Toronto and Ottawa on Tuesday warned residents about the health risks from air polluted by smoke from unprecedented early summer wildfires in eastern Canada.An unusually early and intense start to wildfire season has set Canada on track for its worst-ever year as warm and dry conditions… […]