By Caroline Valetkevitch NEW YORK (Reuters) -Nasdaq posted its biggest one-day percentage drop since Dec. 18 on Monday as a low-cost Chinese artificial intelligence model prompted a steep selloff in U.S. chipmakers. AI leader Nvidia sank 17%, and it erased about $593 billion in stock market value, the deepest ever one-day loss for a company …
Nasdaq drops 3% as China’s DeepSeek AI model hits tech shares Read More »
(Refiles story as Update 4) By Sabrina Valle (Reuters) -U.S. industrial company Emerson Electric agreed to pay $7.2 billion to buy the remaining shares in software supplier AspenTech that it does not already own, the companies said on Monday. The takeout deal strengthens Emerson’s transformation from its 1890 origins as a motor and fan manufacturer …
Emerson to buy remaining stake in AspenTech for $7.2 billion Read More »
By Davide Barbuscia NEW YORK (Reuters) -Wall Street is asking regulators for more time to implement a rule requiring centralized Treasury clearing as banks and funds trading U.S. government bonds face a 2026 deadline. The Securities and Exchange Commission adopted in December 2023 new rules aimed at reducing systemic risk in the $28 trillion Treasury …
Wall Street asks SEC to extend timeline for US Treasury market overhaul Read More »
By Rodrigo Campos NEW YORK (Reuters) – The Mexican peso tumbled on Monday as investors worried that trade disputes would again whipsaw markets after U.S. President Donald Trump’s overnight threat to impose steep tariffs on Colombia. On Sunday, Trump said the White House would levy 25% tariffs on Colombia imports, mainly crude oil, coffee and …
Analysis-Mexican peso tumbles, investors jittery after Trump’s Colombia tariff scare Read More »
By Jonathan Stempel NEW YORK (Reuters) – Citigroup can force military personnel to arbitrate claims that its Citibank unit charged unfairly high interest rates on their credit card balances after they returned to civilian life, a federal appeals court panel ruled on Monday. Reversing a trial judge, the 4th U.S. Circuit Court of Appeals in …
Citigroup wins appeal against military personnel over credit card rates Read More »
OTTAWA (Reuters) – Canadian Foreign Minister Melanie Joly said on Monday she would soon be talking to counterparts in allied nations in a bid to fend off tariffs that U.S. President Donald Trump is threatening to impose. Joly told reporters she would speak to the foreign ministers of Britain, Mexico and some members of the …
Canada to speak to partners in a bid to fend off US tariffs, says minister Read More »
NEW YORK (Reuters) – The former chief financial officer of Archegos Capital Management was sentenced on Monday to eight years in prison over his role in the firm’s 2021 collapse, which cost Wall Street banks more than $10 billion. Patrick Halligan was convicted of securities fraud, wire fraud and racketeering conspiracy by a Manhattan federal …
Former Archegos CFO Halligan gets 8-year prison sentence Read More »
By Niket Nishant (Reuters) -U.S. regulators must simplify the authorization process for setting up new banks, a group of lawyers wrote in a letter to the incoming leadership of banking agencies, emphasizing the industry’s need to adapt in the fintech era. Current “bureaucratic inefficiencies” had led to a “nearly impenetrable barrier to entry” and regulators …
Lawyer group urges overhaul to ease US process for setting up new banks Read More »
By Prakhar Srivastava and Pritam Biswas (Reuters) -Metsera, which is developing weight-loss drugs, said on Monday it is seeking a valuation of up to $1.78 billion in its U.S. IPO, aiming to capitalize on Wall Street’s insatiable appetite for such treatments. Hopes of a soft landing for the U.S. economy and expectations of a more …
Weight-loss drug developer Metsera targets up to $1.78 billion valuation in US IPO Read More »
By Lucia Mutikani WASHINGTON (Reuters) -Sales of new U.S. single-family homes increased more than expected in December, further evidence that housing market activity regained some momentum at the end of 2024, though rising mortgage rates remain a constraint. The report from the Commerce Department on Monday also showed the rebound in home sales in November …
US new home sales exceed expectations; rising supply curbs house price growth Read More »
