Markets

Members of the Sackler family who own Purdue Pharma LP have offered roughly US$4.3 billion to resolve sprawling opioid litigation, up from US$3 billion initially proposed in settlement discussions underway in the OxyContin maker's bankruptcy proceedings, four people familiar with the matter said.

Buyout firm KKR & Co Inc is seeking to raise US$12 billion for its flagship global fund that will invest in infrastructure assets such as oil and gas pipelines and renewable energy projects, according to people familiar with the matter.

FedEx Corp's chief executive, Frederick Smith, will testify before Congress on Wednesday as U.S. lawmakers begin a fast push for a massive hike in infrastructure spending and drive toward electric vehicles, congressional aides said Thursday.

A judge ruled Barclays will have to pay its own 33 million pound (US$46.09 million) legal bill despite winning a case against British businesswoman Amanda Staveley's PCP Capital Group over how the bank negotiated a financial lifeline during the credit crisis in 2008.

General Motors Co on Thursday announced a partnership with a lithium metal battery startup to boost the U.S. automaker's battery development, allowing for higher electric vehicle driving range in a smaller package.

Rolls-Royce said on Thursday it had extended an exclusive deal to provide engines for the Airbus A350-900 to 2030, cementing its alliance with the European plane maker and deferring a potential challenge from rival General Electric.

Italian fashion group Prada expects revenues to grow to €2.9-3.1 billion this year after a pandemic-driven fall to €2.42 billion in 2020, CEO Patrizio Bertelli told Reuters.

The S&P 500 and the Dow indexes hit all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims reinforced expectations of a labor market recovery.

Paris and Brussels have agreed on the broad principles of a deal to restructure power group EDF, two French government sources said on Thursday, adding that France hoped an agreement would be sealed in the coming weeks.

LG Energy Solution said on Thursday it plans to invest more than US$4.5 billion in its U.S. battery production business through 2025 and add 4,000 jobs as it considers building at least two new U.S. plants, a company executive told reporters.