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By Nate Raymond BOSTON, May 26 (Reuters) – Ride-share drivers for app-based companies such as Uber and Lyft have unionized in Massachusetts, forming what state officials and labor leaders said was the first officially recognized organization in the U.S. to represent such gig workers. The newly formed App Drivers Union received certification from the Massachusetts Department of Labor Relations on Friday to represent nearly 70,000 ride-share drivers operating as independent […]

By Pete Schroeder and Michelle Price WASHINGTON, May 26 (Reuters) – Republican President Trump’s regulators are undertaking the biggest overhaul of bank supervision since the 2008 financial crisis. They say examiners have become too preoccupied with processes and pursuing minor issues, and should focus on core financial risks. Critics say that, together, the changes will weaken the financial system. Here are some of the key changes. REFOCUSING SUPERVISION ON ‘MATERIAL’ […]

SAO PAULO, May 26 (Reuters) – Brazil’s health regulator Anvisa said on Tuesday it had approved EMS’s Ozivy, the country’s first semaglutide-based injector pen, as the drugmaker looks to expand into a higher-end segment of the global pharmaceutical industry. The drug uses the same active ingredient as Novo Nordisk’s diabetes and weight-loss ​drug Ozempic, whose patent expired in Brazil in March.  • Drug to be produced at EMS plant in […]

NEW YORK (AP) — PayPal helped invent online checkout. Nearly three decades later, it’s struggling to defend its turf. The iconic online payments company is facing its biggest challenge in nearly three decades of existence. Its core business of customers using the app to check out when shopping online is barely growing and new management has bluntly warned investors that “significant changes” will be needed to fix the company’s problems. […]

Oreo is teaming up with K-pop supergroup BTS for a bit of marketing dynamite that capitalizes on consumers’ growing interest in global flavors. Mondelez, Oreo’s parent company, said Tuesday that BTS-themed Oreos will go on sale June 1 online and June 8 in stores. The cookies, which feature purple wafers in a nod to the band’s signature color, will be sold in more than 80 markets around the world, making […]

CAPE TOWN, South Africa (AP) — The leader of Africa’s most developed economy faces impeachment proceedings over a scandal from years ago involving around $580,000 in cash that was stashed in a sofa at his game farm and then stolen. South African President Cyril Ramaphosa has been accused of misconduct over the source of the money and attempting to cover up the theft in 2020 using his personal security team […]

DAKAR, Senegal (AP) — Senegal ’s National Assembly elected ousted Prime Minister Ousmane Sonko as parliament speaker Tuesday, defying President Bassirou Diomaye Faye who fired him days earlier and threatening political deadlock in a country already buckling under record debt. Sonko was sacked alongside all other ministers last week, following months of tensions between him and the president as their powerful partnership that drove them to power crumbled. His firing […]

WASHINGTON (AP) — U.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices that have neared record levels. The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains. The index follows a separate gauge of consumer sentiment compiled by the University of Michigan, which fell to […]

Federal judges on Tuesday temporarily blocked Alabama’s plan to use a new congressional map that could give Republicans an advantage in a key U.S. House race in the midterm elections. A three-judge panel in the state’s long-running redistricting case issued the preliminary injunction that prevents the state, at least for now, from switching maps. It requires Alabama to continue using the same court-ordered districts under which congressional representatives were elected […]