WASHINGTON (Reuters) -The United States expanded sanctions against Iran’s petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said. The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran’s economy with the aim of denying the government funds to support its nuclear and missile programs. “The new designations today also include measures against the ‘Ghost Fleet’ … Read more…

By Amina Niasse NEW YORK (Reuters) -CVS Health is exiting its core infusion services business and plans to either close or sell 29 related regional pharmacies in the coming months, a company spokesperson confirmed to Reuters on Friday. Details of the strategic shift were announced in a CVS corporate memo dated Oct. 8 and seen by Reuters. The company on Oct. 8 stopped taking new patients seeking antibiotics, drugs supporting muscular health, and intravenous nutrition … Read more…

By Chuck Mikolajczak NEW YORK (Reuters) -Global stocks rose on Friday, powered by U.S. bank earnings, on track for a weekly gain while U.S. Treasury yields dipped after inflation and consumer confidence reports solidified expectations for the path of Federal Reserve interest rate cuts. The U.S. producer price index for final demand was unchanged in September, slightly below the forecast of economists polled by Reuters for a gain of 0.1%. It followed an unrevised 0.2% … Read more…

WASHINGTON (Reuters) – Donald Trump said on Friday that if he wins the Nov. 5 U.S. presidential election, he will allow the cost of home generators purchased in states hit by natural disasters between September 1, 2024, and August 31, 2025, to be tax deductible. “We are going to allow you, retroactive to September 1st, 2024, to purchase a Generator for your Home, which will, in so doing, entitle you to fully deduct the TOTAL … Read more…

By Nivedita Balu, Chris Prentice and Karen Freifeld TORONTO/NEW YORK (Reuters) -TD Bank became the largest bank in U.S. history to plead guilty to violating a federal law aimed at preventing money laundering, and agreed to pay $3 billion in penalties to resolve the charges, government authorities said on Thursday. The plea deal, which includes a rare imposition of an asset cap and other limitations to its business, arises from multiple government investigations into what … Read more…

By Ann Saphir and Michael S. Derby (Reuters) -Slowly cooling inflation and a U.S. job market that remains strong but at risk of deteriorating give a green light for more interest-rate cuts in coming months, Federal Reserve policymakers indicated in remarks on Thursday, even as one suggested that skipping a move in November may be in order. Data showed consumer price inflation edged down to 2.4% in September from a 2.5% pace the prior month, … Read more…