By Noel Randewich (Reuters) – Tesla shareholders approved CEO Elon Musk’s $56 billion pay package in a what was seen as an endorsement of his leadership, but the electric car maker’s stock remains…
Author: Financial Edge Daily
Novo Nordisk CEO to testify in US Senate hearing on high cost of Ozempic, Wegovy
(Reuters) -The Senate Committee on Health, Education, Labor, and Pensions said on Friday that Novo Nordisk CEO Lars Jorgensen has agreed to testify voluntarily in a hearing focusing on U.S. prices for…
New York recovers $50 million for defrauded Gemini Earn crypto investors
By Jonathan Stempel NEW YORK (Reuters) – New York Attorney General Letitia James said on Friday her office has recovered $50 million from the cryptocurrency platform Gemini Trust to repay investors defrauded…
Global equity funds faced huge outflows on caution ahead of Fed meet
(Reuters) – Global equity funds suffered sharp outflows in the seven days to June 12 as investors cautiously took out money ahead of a key U.S. inflation report and Federal Reserve policy…
US home sales crumble in May on higher rates and record prices, says Redfin
(Reuters) – U.S. home sales in May fell to among the lowest levels in the past decade, real estate brokerage Redfin said in a report, as both demand and supply remained sluggish…
Target’s renewed private-label push fails to stem market share drop
By Siddharth Cavale NEW YORK (Reuters) – “Target is my backup option,” said Chloe Guss, a shopper at the retail chain for nearly 20 years whose reservations about some of its products…
Employer coverage for weight-loss drugs rises sharply, survey finds
By Amina Niasse NEW YORK (Reuters) – About one-third of U.S. employer health plans are offering coverage of GLP-1 drugs for both diabetes management and weight loss, up from last year, according…
US job market resembling pre-pandemic environment, Yellen says
(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the U.S. employment picture increasingly resembles the job market that existed prior to the COVID-19 pandemic, and slowing wage growth is not…
Musk says Tesla shareholders voting in favor of his $56 billion pay package
By Hyunjoo Jin, Abinaya V and Greg Roumeliotis (Reuters) -Tesla shareholders were set to approve Elon Musk’s $56 billion pay package in what is being seen as a thumbs-up to his leadership…
Broadcom soars as demand for AI chips power forecast raise
By Arsheeya Bajwa (Reuters) – Broadcom surged more than 13% on Thursday as its upbeat annual forecast highlighted an insatiable demand for chips used in powering AI-focused technology, while its announcement of…