Reuters US Business

Hedge fund Elliott names first female partner, promotes two to management committee

11 Nov 2024

By Svea Herbst-Bayliss NEW YORK (Reuters) – Elliott Investment Management named its first female partner and promoted two partners to its management committee, a person familiar with the matter said on Monday. Samantha Algaze, a senior portfolio manager at the firm, was promoted to partner, becoming the firm’s first ever female partner, the person said. …

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Cigna says it is not pursuing deal with rival Humana, shares rise

11 Nov 2024

By Sriparna Roy and Mariam Sunny (Reuters) -Cigna Group said on Monday it is not pursuing a combination with rival health insurer Humana, days after Donald Trump’s reelection as U.S. president raised investor hopes that any merger would face far less antitrust scrutiny. Humana shares rose after Tuesday’s election as investors bet on an easier …

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Hedge funds pile into banks, dump green energy post US election, Goldman Sachs says

11 Nov 2024

By Nell Mackenzie LONDON (Reuters) – Hedge funds snapped up bank stocks at the quickest clip in three years while taking bets against renewable electricity producers last week, a Goldman Sachs note showed, as investors reacted to Donald Trump’s win in the U.S. presidential election. Financial stocks, such as banks and trading companies, were the …

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Brazil’s currency weakens amid government delays in announcing new fiscal measures

11 Nov 2024

BRASILIA (Reuters) – Brazil’s currency weakened on Monday as President Luiz Inacio Lula da Silva’s administration postponed the release of long-awaited spending-containment measures, despite earlier signals of an imminent announcement. The real fell about 1% against the U.S. dollar, extending its decline for the year to over 16%. The currency’s drop, which raises import costs …

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In changing climate, retailers turning to weather strategies

11 Nov 2024

By Nicholas P. Brown (Reuters) -Big-name retailers such as Walmart are increasingly using analytics to blunt the impact of one of the most unpredictable performance variables of shopping: weather.       Weather data, once used strictly for inventory planning, is now helping retailers localize advertising and decide when to discount seasonal items such as sweaters.       …

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Bitcoin surge triggers billions in losses for crypto short traders after Trump win

11 Nov 2024

By Shashwat Chauhan (Reuters) – Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework. Crypto short trades looked set for a further hammering on Monday as most cryptocurrency-related stocks jumped in …

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Brazil’s Lula urges Congress to cut spending to help ‘beat’ financial markets

11 Nov 2024

SAO PAULO (Reuters) – Brazil’s president vowed to beat the “speculative greed” of financial markets in an interview broadcast late on Sunday and urged Congress to set an example by cutting spending as the government readies new fiscal measures. Leftist leader Luiz Inacio Lula da Silva told broadcaster RedeTV! “I beat them once and I …

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Morning Bid: Post-election dollar revs up, China battles deflation

11 Nov 2024

A look at the day ahead in U.S. and global markets from Mike Dolan The dollar continues to feed on a mix of post-election tariff and tax cut speculation, China’s struggle with deflation and Germany’s simmering political crisis – with the euro plumbing its lowest levels in almost five months. Even with bond markets effectively …

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‘Blinders on’ but be prepared: In 2016, Fed took note of Trump’s plans

11 Nov 2024

By Howard Schneider WASHINGTON (Reuters) – Within weeks of Donald Trump’s 2016 election, U.S. Federal Reserve policymakers began mulling the impact of expected tax cuts and tariffs on the economy, penciling in rough estimates of what was to come, with some among them concluding higher interest rates may be needed to keep inflation in check. …

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