Today: September 21, 2024
Today: September 21, 2024

Finance

Business|Economy|Finance

Wild comeback: Dow bounce erases 700-point one-day dip

Wild comeback: Dow bounce erases 700-point one-day dip

September 11, 2024
Wild comeback: Dow bounce erases 700-point one-day dip
Business|Economy|Finance

US Postal Service squeeze on shipping consolidators could raise consumer costs

The U.S. Postal Service is ending discounts that shipping consolidators such as UPS and DHL use to get packages to the nation’s doorsteps, in a move meant to help the Postal Service slow losses but that could see the higher costs passed on to consumers

September 11, 2024
US Postal Service squeeze on shipping consolidators could raise consumer costs
Business|Finance

Insurance losses from Hurricane Francine to be highly manageable, report says

Losses from Hurricane Francine are expected to remain in the low single-digit billions for the insurance industry and should be highly manageable, according to a preliminary estimate from

September 11, 2024
Insurance losses from Hurricane Francine to be highly manageable, report says
Economy|Election|Finance|News

Does central bank independence really exist?: McGeever

Debate over the Federal Reserve's independence is bubbling up again and could become a red-hot issue for market watchers if Donald Trump wins the Nov.

September 11, 2024
Does central bank independence really exist?: McGeever
Business|Economy|Finance

Nippon Steel, U.S. Steel make last-ditch effort to win US nod, source says

A top Nippon Steel executive and U.S.

September 11, 2024
Nippon Steel, U.S. Steel make last-ditch effort to win US nod, source says
Business|Crime|Finance

Bankman-Fried's ex-girlfriend Ellison urges judge to spare her prison for FTX fraud

Former cryptocurrency executive Caroline Ellison urged a federal judge not to send her to prison after she pleaded guilty over her role in the theft of $8 billion from

September 11, 2024
Bankman-Fried's ex-girlfriend Ellison urges judge to spare her prison for FTX fraud
Business|Economy|Finance|News

Business groups fear political pressure influencing US review of Nippon

A number of U.S. business groups on Wednesday sounded the alarm that the Biden administration's national security review of Nippon Steel's planned $14.9 billion acquisition of U.S.

September 11, 2024
Business groups fear political pressure influencing US review of Nippon
Business|Economy|Finance

Titanic shipbuilder Harland & Wolff's CFO resigns

Harland & Wolff said on Wednesday its finance chief Arun Raman has resigned from the beleaguered British shipbuilder, which is struggling to stay in business.

September 11, 2024
Titanic shipbuilder Harland & Wolff's CFO resigns
Business|Economy|Finance

Fed expected to deliver quarter-percentage-point rate cut next week

U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction, as they seek to reduce the odds of a recession

September 11, 2024
Fed expected to deliver quarter-percentage-point rate cut next week
Business|Finance|News

In battle over proxy rules, appeals court sides with US SEC

In a split decision, a federal appeals court on Tuesday ruled in favor of Wall Street's top regulator, finding the agency was within its rights to rescind parts of

September 10, 2024
In battle over proxy rules, appeals court sides with US SEC
Business|Finance|Technology

Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contract

Stellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts

September 11, 2024
Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contract
Business|Economy|Finance

Bank of England to hold Bank Rate this month but cut in Nov, economists say: Reuters poll

The Bank of England will keep its main interest rate at 5.00% next week but reduce it in November even though inflation is expected to stay above the

September 11, 2024
Bank of England to hold Bank Rate this month but cut in Nov, economists say: Reuters poll
Business|Finance|News

TD Bank ordered to pay $28 million by US CFPB for misreporting consumer credit data

TD Bank was ordered by a U.S. regulator on Wednesday to pay nearly $28 million for repeatedly sharing inaccurate, negative information about its customers with credit

September 11, 2024
TD Bank ordered to pay $28 million by US CFPB for misreporting consumer credit data
Business|Finance|Technology

JPMorgan eyes Swiss corporate business gains, blockchain boost

JPMorgan Chase wants to grow its Swiss corporate banking business and hopes to use blockchain services to help gain clients, an executive at the U.S. bank said.

September 11, 2024
JPMorgan eyes Swiss corporate business gains, blockchain boost
Business|Finance

No-frills US carrier Frontier hikes margin forecast on moderating capacity growth

Frontier expects its third-quarter margins to improve compared to its prior forecast as capacity cuts offset the impact of moderating domestic travel demand, the no-frills U.S. carrier said

September 11, 2024
No-frills US carrier Frontier hikes margin forecast on moderating capacity growth
Economy|Finance|News

Small Aug CPI rise seen sealing 25 bp cut next week

U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut

September 11, 2024
Small Aug CPI rise seen sealing 25 bp cut next week
Business|Finance

US banks extend fall as investors assess executives' sobering forecasts

U.S. bank stocks fell on Wednesday, extending declines after top executives warned of a slower-than-anticipated recovery in investment banking and an expected hit to

September 11, 2024
US banks extend fall as investors assess executives' sobering forecasts
Business|Finance|Stock Markets

Shortsellers bet against airlines and banks, Hazeltree report says

Shortsellers had their sights on airlines in August, as pessimism towards a sector plagued by earnings declines and price rises grows, a

September 11, 2024
Shortsellers bet against airlines and banks, Hazeltree report says
Business|Europe|Finance

UniCredit CEO approaches Commerzbank to explore merger talks, source says

UniCredit CEO Andrea Orcel approached German lender Commerzbank's management earlier on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter

September 11, 2024
UniCredit CEO approaches Commerzbank to explore merger talks, source says
Business|Finance|Stock Markets

Meme stock GameStop slumps as revenue drop fans turnaround doubts

Shares of GameStop, a widely watched meme stock, tumbled 10% in premarket trading on Wednesday after the video game retailer reported a bigger drop in quarterly revenue, questioning its

September 11, 2024
Meme stock GameStop slumps as revenue drop fans turnaround doubts
Business|Economy|Finance

Trump’s tax cuts led to a $20B reduction in charitable giving within a year

The charitable deduction vanished for the 30 million taxpayers who stopped itemizing in 2018, the year the tax changes took effect.

September 11, 2024
Trump’s tax cuts led to a $20B reduction in charitable giving within a year
Economy|Finance

US inflation trending lower, but some stickiness remains

U.S. consumer prices rose slightly in August, but underlying inflation showed some stickiness amid higher costs for housing and other services, further dashing

September 11, 2024
US inflation trending lower, but some stickiness remains
Business|Finance

Dollarama beats quarterly profit view on lower costs, stable demand

Dollarama beat second-quarter profit estimates on Wednesday, helped by lower costs and stable demand for low-priced essentials like groceries.

September 11, 2024
Dollarama beats quarterly profit view on lower costs, stable demand
Business|Finance|Sports

Manchester Utd vows to improve on and off pitch after fifth year of losses

Manchester United's new chief said on Wednesday the club was working towards improving performance on and off the pitch after a fifth consecutive

September 11, 2024
Manchester Utd vows to improve on and off pitch after fifth year of losses
Business|Finance

China to issue broad measures to improve insurance sector, prevent risks

China's state council on Wednesday said it will issue concrete guidelines to strengthen supervision and prevent risks in the country's insurance industry, according to a statement.

September 11, 2024
China to issue broad measures to improve insurance sector, prevent risks

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