By Nicole JaoNEW YORK (Reuters) -Shares of U.S. refiners fell to near two-year lows on Friday in the wake of U.S. President Trump’s announcement of new tariffs, as fears of slower fuel demand and weakening refining margins rattled investors.Top refiners Marathon Petroleum (NYSE:MPC), Valero Energy (NYSE:VLO) and Phillips 66 (NYSE:PSX) have shed more than $20 billion in market capitalization si ...
(Reuters) -Intel and Taiwan Semiconductor Manufacturing Co have recently discussed a preliminary agreement to form a joint venture to operate the U.S. chipmaker’s factories, the Information reported on Thursday, citing two people involved in the discussions.TSMC, the world’s largest contract chipmaker, will take a 20% stake in the new company, the report said.The White House and Commerce depar ...
By Puyaan Singh(Reuters) - The Centers for Medicare & Medicaid Services said on Friday it did not move forward with a proposal put forth by the Biden administration for Medicare coverage of weight-loss drugs such as Novo Nordisk (NYSE:NVO)’s Wegovy.U.S.-listed shares of Novo fell 1.4% in aftermarket trading, while those of Eli Lilly (NYSE:LLY), which makes obesity drug Zepbound, were down 3. ...
By David French(Reuters) -Wall Street nosedived for a second straight day on Friday, confirming the Nasdaq Composite was in a bear market and the Dow Jones Industrial Average was in a correction, as an escalating global trade war spurred the biggest losses since the pandemic.The Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite posted their largest two-day declines since the emerg ...