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U.S. Supreme Court gives boost to whistleblowers in drug pricing case

By John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court on Thursday gave a boost to whistleblowers in their bid to revive lawsuits accusing pharmacy operators of knowingly overbilling government health insurance programs for prescription drugs at taxpayers’ expense. The justices in a 9-0 decision threw out a lower court’s ruling that said the pharmacies …

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Elon Musk’s whirlwind China trip included talks with vice premier

SHANGHAI (Reuters) -Tesla Inc Chief Executive Elon Musk departed Shanghai on Thursday, wrapping up a two-day trip to China in which he met senior Chinese government officials including the highest-ranking vice premier. Photos and a video of Musk’s visit late Wednesday to Tesla’s Shanghai factory – the automaker’s biggest production hub – showed him holding …

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Indian shares end lower on profit booking after strong domestic growth data

By Rama Venkat BENGALURU (Reuters) -Indian shares settled lower after a see-saw session on Thursday as some investors booked profits on gains following stronger-than-expected domestic growth data, and on receding bets of a U.S. rate hike. The blue-chip Nifty 50 index closed 0.25% lower at 18,487.75, while the benchmark S&P BSE Sensex finished 0.31% down …

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Indian rupee posts biggest single-day gain in two months on strong growth data

By Sethuraman N R MUMBAI (Reuters) – The Indian rupee saw its best single-day gain in two months on Thursday, and also rose to a two-week high during the session, following strong domestic growth data, which prompted traders to square off long dollar positions. The rupee closed at 82.405 against the U.S. dollar, compared to …

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US debt ceiling bill passes House with broad bipartisan support

By David Morgan, Richard Cowan and Moira Warburton WASHINGTON (Reuters) – A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. The Republican-controlled House voted 314-117 to …

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US-China tensions expected to dominate Asia security meeting

By Xinghui Kok and Greg Torode SINGAPORE (Reuters) – Tensions between the United States and China are expected to loom over Asia’s top security meeting this week, as China has declined a bilateral meeting between the superpowers’ defence chiefs. The Shangri-La Dialogue, which attracts top defence officials, senior military officers, diplomats, weapons makers and security …

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Bank of America says healthy consumers will buoy retail unit in 2nd qtr

By Lananh Nguyen, Saeed Azhar and Nupur Anand NEW YORK (Reuters) -Bank of America Corp expects good performance for its retail business in the second quarter, buoyed by resilient consumer demand, a senior executive said on Wednesday. “The consumer is still very healthy,” Holly O’Neill, Bank of America’s president of retail banking, said at a …

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