By Kwanwoo JunSouth Korea's headline inflation accelerated to a 30-month high in June, topping 3% for a second straight month--well above the central bank's 2% target.Elevated inflation in the country is likely to strengthen the case for the central bank to tighten monetary policy at its rate-setti…
By Elias SchisgallTrump Accounts, the Trump administration's investments accounts for children, will automatically route contributions into a State Street exchange-traded fund and include options for alternative ETFs, the U.S. Treasury said.All contributions to the accounts when they are launched o…
By Elias SchisgallThe Food and Drug Administration approved the use of Vertex Pharmaceuticals's sickle cell disease treatment, Casgevy, for patients as young as two years old.The agency said Wednesday that it issued a supplemental approval for the drug, known generically as exagamglogene autotemcel…
By Elias SchisgallBayer Group will consolidate its U.S. glyphosate business into a new entity tasked with growing sales of the weedkiller Roundup following a Supreme Court ruling siding with the company against claims that the product causes cancer.Ruveon will oversee all aspects of the glyphosate…
By Doc LouallenCentrus Energy said it signed a $900 million contract with the Energy Department to shift from a demonstration project to large-scale production of high‑assay, low-enriched uranium.The new, fixed-price Haleu enrichment contract calls for Centrus to deploy commercial-scale production…
By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
By Connor HartAdvanced Micro Devices Chief Executive Lisa Su will receive a raise and a stock bonus along with other members of the chip maker's leadership team.AMD set Su's annual base salary for the coming year at nearly $1.38 million, up from about $1.32 million last year, according to a Wednesd…
By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
By Elias SchisgallTwo exchange-traded funds offered by BlackRock will be offered among the investment options for the Trump administration's Trump Accounts for children.The U.S. Treasury on Wednesday said the accounts' investment options would include BlackRock iShares ETFs tracking the S&P 500 and…
By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
By Kirk MaltaisHIGHLIGHTSMulling Things Over: Tuesday's USDA reports were still a focus for grain traders today. Wheat futures lead the CBOT higher on projections of a tighter supply/demand picture globally, due to a shortfall in U.S. winter wheat along with heat issues in France and potential issu…
By Grace YoonMcDonald's appointed Bryan Brown as chief development officer for the U.S., effective July 14.Brown succeeds Tabassum Zalotrawala, who served in the position for three years. Zalotrawala will take on a new role as McDonald's senior vice president of global development and restaurant de…
By Anthony HarrupU.S. natural gas inventories likely increased by more than usual last week, raising the surplus over the five-year average to its highest level since mid-January, according to a Wall Street Journal survey.Net injections into underground storage facilities are seen at 81 billion cub…
By Elias SchisgallToyota Motor North America reported an uptick in car sales during the second quarter, buoyed by strong June sales and growth in electric and hybrid vehicles.The automaker on Wednesday reported second-quarter vehicle sales rising 1.1% to 673,971. Of that total, Toyota said, about 5…
Crude contracts fell slightly around midday Wednesday, as Iran and U.S. continued to pursue a peace agreement to fully reopen the Strait of Hormuz, with Persian Gulf oil flows through the key global oil supply chokepoint showing signs of recovery.At 12:10 p.m. ET, August NYMEX West Texas Intermedia…
By Doc LouallenRegenxbio shares advanced after the company said the first patient was dosed in its Phase IIb/III Naavigate study of surabgene lomparvovec for diabetic retinopathy and that it will receive a $100 million milestone payment from AbbVie.Shares were up 10% at $13.14 in midday trading Wed…
By Anthony HarrupU.S. crude oil inventories fell for a 10th consecutive week as exports remained high and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration.Commercial crude oil stocks excluding the Strategic Petroleum Reserve fe…
By Ed Frankl and Don ForbesRisks to the eurozone's inflation and economic growth are more balanced after the decline in energy prices in the last month, European Central Bank President Christine Lagarde said Wednesday."Risks...that we had to the upside on inflation and to the downside of growth are…
By Grace YoonSony Interactive Entertainment said it would discontinue its PlayStation physical disc production for all new games released on its consoles, effective January 2028.Following this date, new games will be available on PlayStation Store and at retailers in digital format only. The change…
By Jessica CoacciFactory activity continued to expand in the U.S. for the sixth consecutive month in June, according to a survey of manufacturing firms.The Institute for Supply Management's purchasing managers' index was 53.3 last month, 0.7 percentage point lower than in May. Still, readings above…