Author: Admin

[WASHINGTON] Abbott reported higher quarterly revenue on Wednesday (Oct 15), driven by strong demand for its medical devices including continuous glucose monitors and heart devices.Investor confidence in medical device makers has climbed in recent quarters, underpinned by robust demand for surgical procedures, particularly among older adults.Total revenue rose 7.1 per cent to US$11.4 billion.On an adjusted basis, third-quarter profit per share of US$1.30, in line with analyst’s average estimate, according to data compiled by LSEG.The company now expects annual adjusted profit between US$5.12 and US$5.18 per share, compared to its previous range of US$5.10 to US$5.20.Its medical devices segment, which…

NEW YORK :A U.S. judge on Wednesday said he was ready to approve Rio Tinto’s agreement to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia.Rio Tinto had reached a preliminary settlement with shareholders of the former Montreal-based Turquoise Hill Resources in June, pending approval from Manhattan-based U.S. District Judge Lewis Liman.  Liman at a hearing on Wednesday said he was ready to approve the settlement, but did not sign off on it yet because he…

[NEW JERSEY] Walmart is on track to join the “elite” crop of companies with a trillion-dollar valuation, after its announced partnership with OpenAI powered the stock to a record high, said Mizuho analyst David Bellinger.The alliance with the Sam Altman-led company was unveiled on Tuesday (Oct 14), and will enable Walmart shoppers to browse and purchase products directly on ChatGPT by clicking a “buy” button. While the offering will not include fresh foods, customers will be able to purchase items like packaged foods, apparel and more from both Walmart and its Sam’s Club chain.Walmart shares jumped 5 per cent on…

The strong sales figures surprise investors and are expected to sustain momentum in luxury stocks[PARIS/LONDON] LVMH shares had their best day in over two decades on Wednesday (Oct 15) following signs of improved demand in China, which also drove a wider sector rally that added nearly US$80 billion to European luxury stocks’ valuations. The world’s top luxury group, which owns brands ranging from Louis Vuitton bags to Moet champagne, soared as much as 14 per cent and was on track for its biggest daily gain since 2001, after reporting better-than-expected third-quarter sales, driven by improved demand in China, a day…

NEW YORK — NEW YORK (AP) — Broadway is a tense place these days after two major labor unions authorized strike action amid ongoing contract negotiations with producers.Actors’ Equity Association — which represents over 51,000 members, including singers, actors, dancers and stage managers — and American Federation of Musicians Local 802 — which represents 1,200 musicians — have voted in favor of a strike authorization, a strategic step ahead of any work stoppage. No strike has been called.Members of both unions are currently working under expired contracts. The musicians’ contract expired on Aug. 31, and the Equity contract expired on…

CHICAGO — CHICAGO (AP) — No “Fail Mary.” Just another nail-biter.This time, Chicago prevailed on the final play in Washington. And unlike last season, when a loss on a desperation pass sent them into a freefall, Caleb Williams and the Bears have some momentum after squeezing past Jayden Daniels and the Commanders 25-24 on Monday night.They can thank Jake Moody, who went from having a 48-yard field goal blocked to kicking a 38-yarder as time expired. That gave the Bears (3-2) three straight wins heading into a home game against the New Orleans Saints this week.“When it’s ugly, we’re still…

However, the group’s cargo business was affected by Typhoon Ragasa in East Asia[SINGAPORE] Passenger traffic for the two carriers under the Singapore Airlines (SIA) Group was 3.7 per cent higher year on year in September.The increase in traffic for SIA and Scoot outpaced the 2.5 per cent rise in passenger capacity, said SIA Group in its latest operating update released on Wednesday (Oct 15).But the group’s cargo business was hit by Typhoon Ragasa in the month, particularly on routes to and from East Asia, it noted.Passenger traffic – which measures the demand for an airline’s service and is derived by…

LONDON :Credit Suisse on Wednesday lost its $440 million London lawsuit against Japan’s SoftBank Group Corp over losses linked to collapsed finance firm Greensill Capital.Greensill’s collapse made Credit Suisse close $10 billion of funds linked to the financial firm and, along with other scandals, led to the 2023 state-backed rescue of the 167-year-old Swiss bank by rival UBS Group.UBS pursued the case against SoftBank, with a trial heard at London’s High Court in June. Judge Robert Miles said in a written ruling that he had dismissed the lawsuit.The case, which centred on funds Greensill lent to Katerra, a SoftBank-backed U.S.…

CVS has finished buying customer prescription files from hundreds of closed Rite Aid drugstores and is now running 63 of the defunct chain’s locations. The company said Wednesday that it is operating former Rite Aid and Bartell Drugs stores in Idaho, Oregon and Washington. It also has transferred customer prescription files from 626 pharmacies in 15 states to nearby CVS locations.CVS Health did not say how much it spent on the stores and prescription files. Rite Aid recently announced on its website that its stores have closed. The company said in May that it was seeking bankruptcy protection and would…

Sir Keir Starmer has promised to publish the government’s witness statements for the China spy trial that was suddenly dropped.Former parliamentary researcher Christopher Cash, 30, and teacher Christopher Berry, 33, were charged under the Official Secrets Act with passing politically sensitive information to a Chinese intelligence agent between December 2021 and February 2023, which they deny. Three weeks before their trial was due to begin, the case against them was dropped.Politics latest: Reeves admits tax rises and spending cuts being consideredThe prime minister told MPs in the Commons on Wednesday he has decided to publish the case’s witness statements “in…