Today: October 12, 2024
Today: October 12, 2024

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'There was no answer': US families search for missing from Israel attack

U.S. citizens living in Israel urged U.S.

'There was no answer': US families search for missing from Israel attack
News|Uncategorized|US

US regulators weigh penalizing bankrupt crypto lender Voyager's ex-CEO - Bloomberg

Investigators at the U.S.

US regulators weigh penalizing bankrupt crypto lender Voyager's ex-CEO - Bloomberg
News|Uncategorized|US

Reaction to Democratic U.S. Senator Feinstein's death

Long-serving U.S.

Reaction to Democratic U.S. Senator Feinstein's death
Economy|News|Uncategorized|US

US Senate secures votes to advance temporary government funding bill

The U.S.

US Senate secures votes to advance temporary government funding bill
Uncategorized

US retailers' financial losses jump as retail crime escalates - NRF

Organized crime rings in New York, San Francisco, Los Angeles and Houston are targeting retail inventories, causing more financial loss, according to a report by the National Retail

US retailers' financial losses jump as retail crime escalates - NRF
Uncategorized

Harris, Yellen tout unions' economic benefits with new Treasury report

– U.S. Vice President Kamala Harris and Treasury Secretary Janet Yellen held a rare joint press call on Monday to tout the benefits of union membership, releasing a new Treasury report that shows wages for union members are 15% higher than non-union workers. THE TAKE: The White House has been pushing to support unions and expanded union membership as part of U.S. President Joe Biden’s plan to overhaul the U.S. economy, fight inequality and reallocate more corporate profits to the middle class. There are political reasons too. Union voters helped Biden win critical election battleground states in 2020

Harris, Yellen tout unions' economic benefits with new Treasury report
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US business borrowing for equipment falls 2% in July - survey

– U.S. companies borrowed nearly 2% less in July than last year to finance equipment investments, an Equipment Leasing and Finance Association (ELFA) survey showed on Monday. The companies signed up for new loans, leases, and lines of credit worth $9.9 billion last month, compared with $10.1 billion a year earlier, the industry body’s survey said. “In the current relatively high-interest rate environment in which the industry finds itself this summer, survey respondents are reporting some softness, coinciding with expectations by economists that overall investment in equipment and software will slow down in the second half of 2023,” ELFA

US business borrowing for equipment falls 2% in July - survey
Uncategorized

FACTBOX-Stocks to watch as Idalia makes landfall in Florida

– Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the state’s Gulf Coast by Wednesday morning. Idalia is predicted to transform into a Category 3 on the Saffir-Simpson Hurricane Wind Scale when it makes landfall in northern Florida’s Big Bend area, where the panhandle transitions into the peninsula, the National Hurricane Center said. About 20 million Floridians are under hurricane and tropical storm watches, and authorities have begun issuing evacuation orders. Here’s a list of stocks and sectors that could be impacted by the storm:

FACTBOX-Stocks to watch as Idalia makes landfall in Florida
Uncategorized

US FTC suspends challenge to block Amgen's $27.8 billion deal for Horizon Therapeutics

The U.S. Federal Trade Commission (FTC) has suspended its challenge of Amgen’s $27.8 billion purchase of Horizon Therapeutics, allowing the FTC to consider whether the agency should settle the case, a filing late on Friday showed. The pause is effective until Sept. 18. Amgen said the company was aware of the move and is prepared to demonstrate that there is no legal or factual reason to prohibit the acquisition to the courts. “We would be pleased if our commitment were honored instead of going through a lengthy court process,” the company said in a statement adding that it anticipates

US FTC suspends challenge to block Amgen's $27.8 billion deal for Horizon Therapeutics
Uncategorized

Vinfast rallies on after becoming world's third-most valuable automaker

Shares of Vietnamese electric-vehicle maker Vinfast surged 21% on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion. The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker – only behind Tesla and Toyota. But Vinfast’s small amount of publicly available shares has made the stock prone to volatility, with shares jumping or slumping more than 14% in 11 of the past 12 sessions. The stock was on track to add nearly $33.6 billion to its market capitalization,

Vinfast rallies on after becoming world's third-most valuable automaker
Uncategorized

SEC probes Change Company over mortgage-backed securities sold to Wall Street - Bloomberg News

– The US Securities and Exchange Commission (SEC) is probing The Change Company, a California lender that pledges to promote homeownership in underserved communities, over its mortgage-backed securities, Bloomberg News reported on Monday. The regulator is also looking into some of the actions of its chief executive officer, Steven Sugarman, the report said, citing people with direct knowledge of the matter. “Neither Change nor its leadership is aware of any SEC investigation,” the report said, citing the company. The SEC and The Change Company did not immediately respond to Reuters requests for comment. (Reporting by Jaiveer Singh Shekhawat in

SEC probes Change Company over mortgage-backed securities sold to Wall Street - Bloomberg News
Uncategorized

Brazil's Natura mulls sale of The Body Shop

Brazilian cosmetics maker Natura &Co on Monday said its board of directors had authorized the company to search for “strategic alternatives” for its subsidiary The Body Shop, including a potential sale of the business. The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L’Oreal at an enterprise value of $2.53 billion. A sale of The Body Shop – valued at some 2.5 billion reais ($511 million) – is the most likely outcome, analysts at J.P. Morgan wrote, due to the Aesop divestment and the company’s high

Uncategorized

Seven & i department store unit union threatens to strike over Fortress deal

A labour union at Seven & i Holdings’ department store unit Sogo & Seibu threatened on Monday to go on strike at a flagship store on Aug. 31 depending on the outcome of talks with management over the subsidiary’s planned sale to a U.S. fund. Labour strikes are extremely rare in Japan, and if it goes ahead, it would be the first at a major department store in about 60 years, local media reported. Sogo & Seibu’s labour union announced the strike notice at a press conference. Japan-based Seven & i, operator of the world’s largest convenience store

Seven & i department store unit union threatens to strike over Fortress deal
Uncategorized

China's BYD H1 profit triples as deliveries break record

– China’s BYD Co Ltd on Monday said first-half profit jumped 204.7% as the new energy vehicle maker broke its delivery record and retained its crown as China’s biggest-selling auto brand. Net earnings for the six-months ending June 30 reached 10.95 billion yuan ($1.50 billion), up 204.7% from 3.6 billion yuan a year earlier, on a 72.7% rise in revenue to 260.12 billion yuan, BYD said in a stock market filing. The company posted a 6.82 billion yuan net profit for the April-June quarter, up 144.7%, a Reuters calculation showed. That was a smaller increase than in the

China's BYD H1 profit triples as deliveries break record
Uncategorized

Wall St opens higher as focus shifts to economic data for interest rate cues

– Wall Street’s main indexes opened higher on Monday ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve’s interest rate path, while China’s measures to boost its markets provided further support. The Dow Jones Industrial Average rose 94.74 points, or 0.28%, at the open to 34,441.64. The S&P 500 opened higher by 20.32 points, or 0.46%, at 4,426.03, while the Nasdaq Composite gained 104.71 points, or 0.77%, to 13,695.36 at the opening bell. (Reporting by Shristi Achar A in Bengaluru; Editing by Shounak Dasgupta)

Wall St opens higher as focus shifts to economic data for interest rate cues
Uncategorized

TSX opens higher on gains in materials, energy stocks

– Toronto’s main stock index gained at the market open as a rise in commodity prices lifted materials and energy stocks, while investors awaited a slew of economic data coming in this week from Canada and the United States. At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 88.65 points, or 0.45%, at 19,924.4. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Shweta Agarwal)

TSX opens higher on gains in materials, energy stocks
Uncategorized

TSX set to open flat ahead of data-packed week

– Futures linked to Toronto’s main stock index hinted a flat opening on Monday as focus shifted to a slew of economic data coming in this week from Canada and the United States. September futures on the S&P/TSX index were largely unchanged at 7:05 a.m. ET (1105 GMT), after finishing the week flat on Friday. Canada’s second-quarter gross domestic product report, due later in the week, is likely to show a sharp slowdown in domestic economic growth, a Reuters poll of economists showed, which could lead the Bank of Canada to put a pause on interest rate hikes despite

TSX set to open flat ahead of data-packed week
Uncategorized

Swiss Competition Commission examining UBS takeover of Credit Suisse

Switzerland’s Competition Commission is looking into UBS’s takeover of Credit Suisse, the authority said on Monday. In March, the Swiss government, central bank and financial regulator rushed through a rescue deal for Credit Suisse, resulting in the country’s two largest banks merging. “We confirm that the Swiss Competition Commission is looking at the takeover of CS by UBS and will send FINMA her results probably by the end of September,” the Commission’s vice-director told Reuters. (Reporting by Noele Illien, Editing by Friederike Heine)

Swiss Competition Commission examining UBS takeover of Credit Suisse
Uncategorized

China's BYD H1 profit rises 204.7% as deliveries break record

– China’s BYD Co Ltd on Monday said first-half profit jumped 204.7% as the new energy vehicle maker broke its delivery record and retained its crown as China’s biggest-selling auto brand. January-June net earnings reached 10.95 billion yuan ($1.50 billion), up 204.7% from 3.6 billion yuan a year earlier, on a 72.7% rise in revenue at 260.12 billion yuan, BYD said in a stock market filing. ($1 = 7.2928 Chinese yuan renminbi) (Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Christopher Cushing and Louise Heavens)

China's BYD H1 profit rises 204.7% as deliveries break record
Uncategorized

Swiss Competition Commission examining UBS takeover of Credit Suisse - media

– Switzerland’s Competition Commission is looking into UBS’s takeover of Credit Suisse, Swiss media reported on Monday. In March, authorities including the Swiss government and central bank rushed through a rescue deal for Credit Suisse, resulting in the country’s two largest banks merging. The commission is currently holding hearings on the matter and plans to send its findings to the financial regulator, FINMA, at the end of September, Swiss newspaper Handelszeitung reported. The Competition Commission could not immediately be reached for comment. (Reporting by Noele Illien, Editing by Friederike Heine)

Swiss Competition Commission examining UBS takeover of Credit Suisse - media
Uncategorized

US and China agree to export controls information exchange

– The United States and China agreed to launch an export control enforcement information exchange and a new working group on commercial issues, the U.S. Commerce Department said on Monday, giving Beijing a potential forum to express concerns. After meetings between U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao, the department said the exchange would provide a platform to reduce misunderstanding of U.S. security policies. The first in-person meeting will occur at the assistant secretary level at the Ministry of Commerce in Beijing on Tuesday, the statement said. China has sharply criticized U.S. efforts to block

US and China agree to export controls information exchange
Uncategorized

Vinfast rallies on after becoming world's third-most valuable automaker

– Shares of Vietnamese electric-vehicle maker Vinfast surged 30% in premarket trading on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion. The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker – only behind Tesla and Toyota. But Vinfast’s small amount of publicly available shares has made the stock prone to volatility, with shares jumping or slumping more than 14% in 11 of the past 12 sessions. The stock was on track to add nearly $50 billion

Vinfast rallies on after becoming world's third-most valuable automaker
Uncategorized

BOJ Ueda says China's slowdown adds to economic uncertainty

– Bank of Japan Governor Kazuo Ueda said the pace of economic activity in China has been a disappointment that could cloud Japan’s economic outlook, according to a text of his speech delivered at the weekend Jackson Hole Symposium. China’s July data, such as retail sales, business investment and industrial production were “on the weak side,” Ueda said, according to the text posted on the BOJ’s website on Monday. “The underlying problem appears to be the adjustment in the property sector and its spillover to the rest of the economy,” Ueda said on China, adding that the hit

BOJ Ueda says China's slowdown adds to economic uncertainty
Uncategorized

Powell signals no retreat, no surrender

– A look at the day ahead in U.S. and global markets by Amanda Cooper. One of the overarching market themes this year – aside from the hype around artificial intelligence – has been investors avidly building up bets on the Federal Reserve finally announcing an end to its cycle of rate hikes, only to have that optimism dashed. There’s no doubt that the U.S. central bank is nearing the end of its mission to wrestle down inflation. Headline consumer price pressures are rapidly abating, thanks to a wholesale retreat in food and energy prices. Headline inflation in July

Powell signals no retreat, no surrender
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Futures edge higher as focus shifts to inflation, jobs data

– U.S. stock index futures edged higher on Monday, with investor focus on key inflation data and employment readings that are due later this week for further clues on the Federal Reserve’s interest rate trajectory. Stocks ended a volatile session higher on Friday after Fed Chair Jerome Powell at the Jackson Hole meet said the U.S. central bank may need to raise interest rates further to ensure inflation is contained. However, with Powell acknowledging the progress made on easing price pressures as well as risks from surprising strength of the U.S. economy, the market’s focus will now pivot to

Futures edge higher as focus shifts to inflation, jobs data

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