(Reuters) – A merger between Honda and Nissan would not come with quick gains, as the automakers would first need to align their strategies while overlapping regional markets would limit the sales benefits, S&P analysts said on Wednesday. While the potential deal would result in a $54 billion automotive company, the world’s third largest, any …
Nissan-Honda merger would not bring quick fixes, S&P says Read More »
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said Wednesday it’s too soon to say what President-elect Donald Trump’s proposed economic policies will do to the economy and how that might bear on the central bank’s policy choices. At this point, “it’s very premature to make any kind of conclusions. …
Fed’s Powell not ready to say what Trump policies will do to economy Read More »
By Nicholas P. Brown and Ananya Mariam Rajesh NEW YORK (Reuters) – Two months into his tenure as Nike CEO, Elliott Hill gets his first shot on Thursday to convince investors he can rescue the flailing sportswear company after a year stained by layoffs and cratering sales. Platitudes from Hill will not be enough, analysts …
New Nike CEO Hill gets his chance to lay out turnaround plan Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. single-family homebuilding rebounded in November as the drag from hurricanes faded, but the threat of tariffs on imported goods and potential labor shortages from mass deportations of immigrants could hamper new construction next year. The report from the Commerce Department on Wednesday showed only a slight increase last month …
US single-family housing starts rebound; tariffs an obstacle Read More »
By Michael S. Derby (Reuters) – The Federal Reserve adjusted a key part of its rate control toolkit on Wednesday, lowering the rate it offers on its reverse repo facility by more than it cut the federal funds rate. The Fed said that the reverse repo rate will now stand at 4.25% from its prior …
Fed cuts reverse repo rate by wider margin than funds rate target Read More »
(Reuters) – USAA Federal Savings Bank has been ordered to correct a range of longstanding regulatory deficiencies amounting to unsafe and unsound practices, the U.S. Office of the Comptroller of the Currency (OCC) said on Wednesday. Problems identified related to management, earnings, information technology, consumer compliance and internal audit and suspicious activity reporting violations, some …
US regulator orders USAA Federal Savings Bank to correct unsafe practices Read More »
By Ann Saphir WASHINGTON (Reuters) – U.S. central bankers on Wednesday issued fresh projections calling for two quarter-point interest-rate cuts next year amid rising inflation, a forecast consistent with a wait-and-see approach come January as Donald Trump starts his second four-year stint in the White House. The Federal Reserve’s latest quarterly summary of economic projections …
Fed policymakers project two quarter-point rate cuts next year Read More »
By David Shepardson WASHINGTON (Reuters) – Top Senate Republican Mitch McConnell on Wednesday urged the U.S. Supreme Court to reject a bid by TikTok and its China-based parent company ByteDance to block a law intended to force the sale of the short-video app by Jan. 19 or face a ban on national security grounds. The …
Top Senate Republican urges Supreme Court to reject TikTok appeal Read More »
By Anuja Bharat Mistry (Reuters) – General Mills slashed its annual profit forecast on Wednesday as the Cheerios cereal maker ramps up promotions to attract cost-conscious consumers, sending shares down about 3%. Budget-strapped shoppers have increasingly chosen cheaper private label products over pricier branded names, prompting major packaged food companies to increase promotions. “As we …
General Mills cuts profit outlook as promotions rise to win back consumers Read More »
By David Shepardson WASHINGTON (Reuters) -The U.S. Environmental Protection Agency said on Wednesday it has approved California’s landmark plan to end the sale of gasoline-only vehicles by 2035. The decision in the final weeks of President Joe Biden’s administration sets up a fight over the future of California’s vehicle regulations. President-elect Donald Trump has vowed …
US EPA approves California plan to ban sale of gas-only cars starting in 2035 Read More »
