General News

By Aditya Soni

(Reuters) - Apple shares jumped nearly 6% before the bell on Friday as the iPhone maker's record stock buyback plan and promise of sales growth drew back investors who have shunned the stock on concerns over weak demand and increased competition in China.

The company late on Thursday approved an additional $110 billion in share repurchases, its largest ever, and forecast third-quarter sales that exceeded the modest market... (continue reading...)

By Nate Raymond

BOSTON (Reuters) - Massachusetts has become the latest front in a years-long battle in the United States over whether ride-share drivers for Uber and Lyft should be treated as independent contractors or employees entitled to benefits and wage protections.

The state's top court is set to hear arguments on Monday over whether to let dueling ballot measures go before voters in November that would redefine the relationship... (continue reading...)

(Reuters) - Shares in Danish drugmaker Novo Nordisk dropped as much as 5.3% on Friday, set for their biggest one-day fall since August 2022, after rival Amgen said it was encouraged by interim trial data on its experimental obesity drug.

Novo Nordisk were last down 4.4% by 1022 GMT, having hit their lowest in two months earlier in the day.

Amgen on Thursday said it was very encouraged after completing an interim analysis of its mid-stage... (continue reading...)

By Matt Tracy

(Reuters) - Spreads on U.S. high yield bonds, or the premium companies pay over U.S. Treasuries, remain tight despite a pick-up in distress within the asset class, as investors see the majority of issuers weathering higher-for-longer interest rates.

Elevated rates and persistent inflation have eaten into the bottom lines of many U.S. corporate borrowers, particularly those with high leverage and lower credit ratings.

(Reuters) -Rivian Automotive said on Thursday it has received $827 million in an incentive package from the State of Illinois to expand operations at its Normal facility.

The Irvine, California-based company's shares rose nearly 10% in afternoon trade after having lost more than 60% of their value this year, as of Wednesday's close.

The Illinois plant, where Rivian also makes its electric delivery vans for its largest investor, Amazon.com,... (continue reading...)