Browse Events

Lawmaker would give FDA more oversight of drug compounding
WASHINGTON (Reuters) - Representative Edward Markey, a Democrat from Massachusetts, on Thursday became the latest lawmaker to propose legislation that would give the U.S. Food and Drug Administration greater regulatory authority over drug compounding.

Parents sue Pittsburgh Zoo over toddler's mauling death
PITTSBURGH (Reuters) - The parents of a 2-year-old boy mauled to death by African wild dogs at the Pittsburgh Zoo & PPG Aquarium filed a lawsuit on Thursday accusing the zoo of failing to protect visitors from dangerous conditions.

Ally settlement may be a boon for ResCap bondholders
NEW YORK (Reuters) - While bond insurers MBIA Inc and FGIC Corp receive the lion's share of Ally Financial Inc's $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson & Co may have obtained a better deal.

Judge says leaning toward U.S. in Apple e-books case
NEW YORK (Reuters) - A federal judge expressed a tentative view that the U.S. Justice Department will be able to show evidence Apple Inc engaged in a conspiracy with publishers to increase e-books prices.

IRS official at center of scandal takes administrative leave
WASHINGTON (Reuters) - Lois Lerner, the Internal Revenue Service official who this week asserted her right not to answer questions about the controversy over extra scrutiny for conservative groups, took administrative leave on Thursday, a congressional source close to the matter said.

Local lawyer named to corruption fighting Chicago prosecutor job
CHICAGO (Reuters) - President Barack Obama has nominated Chicago attorney Zachary Fardon to be the U.S. prosecutor in Chicago, which has seen the indictments of many top local politicians and mob figures, the two U.S. senators from Illinois announced on Thursday.

Maine Medicaid expansion passes but governor sets veto
BOWDOINHAM, Maine (Reuters) - Maine's Democratic-controlled legislature on Thursday passed a bill to expand access to its Medicaid program as outlined by the Affordable Care Act, setting up a showdown with the state's Republican governor, who immediately began veto procedures.

Sears losses mount as cold weather bites, shares down
(Reuters) - U.S. retailer Sears Holdings reported a bigger-than-expected quarterly loss as cooler weather hurt sales at its stores, indicating that the company's turnaround could take much longer than expected.

U.S. sees first drop in F-35 costs; other programs steady
WASHINGTON (Reuters) - The Pentagon on Thursday told Congress it expected a 1 percent drop in the cost of its biggest weapons program, the Lockheed Martin Corp. F-35 fighter jet, while averting the huge cost increases seen on other weapons programs in recent years.

Analysis: Markets face rough summer ride as Fed pullback feared
NEW YORK (Reuters) - For the past few months, the U.S. Federal Reserve has been squarely in the financial markets' corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purchasing fewer bonds mean that trading is likely to get bumpier in coming months.

Microsoft did not violate Google patent, ITC says
WASHINGTON (Reuters) - Microsoft Corp did not violate a patent owned by Google subsidiary Motorola Mobility when it made its popular Xbox, the International Trade Commission said on Thursday.

Palmer takes early control with birdie fest at Colonial
(Reuters) - American Ryan Palmer took advantage of ideal scoring conditions and local knowledge with a birdie fest as he charged into an early two-shot lead in Thursday's opening round of the Crowne Plaza Invitational in Fort Worth, Texas.

NASA puts shuttle launch pad in Florida up for lease
CAPE CANAVERAL, Florida (Reuters) - Nearly two years after space shuttle Atlantis blasted off for the last time, NASA on Thursday put out a "For Lease" notice for one of its shuttle launch pads in Florida.

Pittsburgh on the Hudson? Wrong city in NY City campaign logo
NEW YORK (Reuters) - For New York City mayoral hopeful Anthony Weiner, the road to City Hall leads through Pittsburgh.

Syrian opposition scrambles to save credibility ahead of peace talks
ISTANBUL (Reuters) - The Syrian opposition in exile met on Thursday to decide whether to attend a peace conference that the United States and Russia see as a crucial path to ending two years of civil war.

Catholic order to pay $16.5 million to more than 400 claiming sex abuse
NEW YORK (Reuters) - An order of the Roman Catholic Church has agreed to pay $16.5 million to more than 400 adults who said they were sexually abused as children by religious leaders, the parties announced on Thursday in separate statements.

Father of Chechen shot by FBI says he thinks son was tortured
GROZNY, Russia (Reuters) - The father of a Chechen immigrant killed during questioning over his links with one of the Boston Marathon bombings suspects said on Thursday he plans to travel to the United States where he thinks his son was tortured and killed.

Sears losses mount as cold weather bites
(Reuters) - U.S. retailer Sears Holdings reported a much bigger-than-expected quarterly loss as cooler weather hurt sales at its stores and the company said it was considering a sale of its service contracts business to shore up liquidity.

SAC lawyers met prosecutors to argue against charges
NEW YORK (Reuters) - Steven A. Cohen's lawyers made their best case argument a month ago to federal prosecutors about why the hedge fund billionaire and his SAC Capital Advisors should not be charged with criminal wrongdoing in a long-running insider trading investigation.

Proxy advisory firm settles SEC charges over data breach
WASHINGTON (Reuters) - Institutional Shareholder Services has settled civil charges by U.S. regulators that an employee of the prominent proxy advisory firm shared nonpublic voting data in exchange for meals and concert tickets.