By Abigail Summerville and Johann M Cherian Dec 15 (Reuters) – Wall Street closed lower on Monday as investors braced for a slew of economic data later this week while assessing reports on Federal Reserve candidates and commentary from policymakers for clues on the interest rate outlook. The nonfarm payroll figures for October and November are …
Wall St closes lower as investors position for busy week of data Read More »
By Lucia Mutikani WASHINGTON, Dec 15 (Reuters) – The U.S. Bureau of Labor Statistics on Tuesday releases its long-awaited combined employment reports for October and November, but a number of key details will be missing after the government shutdown prevented data collection, including October’s unemployment rate, resulting in the first-ever gap in that critical data …
Explainer-Delayed US employment, CPI reports are due this week, with many gaps Read More »
By Ernest Scheyder Dec 15 (Reuters) – The Trump administration plans more “historic deals” with the U.S. mining sector to boost production of critical minerals for the national defense and high-tech sectors, a senior official said on Monday. Earlier this year, the administration took equity stakes in MP Materials, Lithium Americas and Trilogy Metals. The …
White House plans more ‘historic deals’ with mining sector, official says Read More »
Dec 15 (Reuters) – Wall Street giant Citigroup said on Monday it had completed the sale of a 25% stake in its Grupo Financiero Banamex to a company owned by Mexican billionaire Fernando Chico Pardo and his family. The deal, which was announced in September, marks another step forward in Citi’s goal of divesting the …
Citi closes sale of 25% stake in Banamex to Mexican billionaire Chico Pardo Read More »
By Stephen Nellis SAN FRANCISCO, Dec 15 (Reuters) – Intel on Monday appointed an economic adviser to U.S. President Trump as its head of government affairs, months after the U.S. government took a 10% stake in the U.S. chipmaker. Intel said that Robin Colwell, deputy assistant to the president and deputy director of the National …
Intel appoints Trump economic adviser as head of government affairs Read More »
By Milana Vinn Dec 15 (Reuters) – Goldman Sachs is restructuring its influential technology, media, and telecom (TMT) investment banking group with an eye toward infrastructure deals and artificial intelligence, creating two new teams with new leaders, according to the internal memo seen by Reuters. The bank is combining its telecom and “CoreTech” teams to …
By Matt Tracy WASHINGTON, Dec 15 (Reuters) – Credit rating agency Fitch on Monday downgraded the credit ratings of insurance giant Humana along with various subsidiaries. In a Monday report accompanying its downgrades, Fitch analysts cited a dim outlook for Humana’s revenue margins recovery to previously higher levels. This was due primarily to higher-than-normal use …
By Alexander Marrow LONDON, Dec 15 (Reuters) – Ben & Jerry’s has ousted the chair of its independent board as part of new governance practices introduced by the Vermont-based ice cream brand on Monday that include nine-year term limits for board members. Anuradha Mittal, who joined the Ben & Jerry’s board in 2007, serving as …
Ben & Jerry’s ousts board chair Mittal as it sets new term limits Read More »
Dec 15 (Reuters) – Elon Musk on Monday became the first person ever worth $600 billion, Forbes said, on the heels of reports that his SpaceX startup was likely to go public at a valuation of $800 billion. Musk, who was the first to surpass $500 billion in net worth in October, owns an estimated …
Musk’s net worth hits $600 billion, Forbes says, as SpaceX preps for IPO Read More »
Dec 14 (Reuters) – iRobot, the maker of the Roomba vacuum cleaner, filed for bankruptcy protection on Sunday, saying that it would go private after being bought by Picea Robotics, its primary manufacturer. The company, which raised concerns about staying in business in March, filed for Chapter 11 protection in Delaware bankruptcy court as it …
Roomba maker iRobot files for bankruptcy, pursues manufacturer buyout Read More »
