(Reuters) – Global money market funds attracted sharp inflows in the week to Nov. 6 as investors sought safety ahead of the U.S. presidential election and the Federal Reserve’s policy meeting. Investors racked up a massive $127.44 billion worth of global money market funds during the week, which was their largest weekly net purchase since …
Global money market funds saw large inflows on election caution Read More »
By Niket Nishant, Manya Saini and Nupur Anand (Reuters) – The banking industry is expected to win big as former President Donald Trump returns to the White House, ushering in Republican regulators who are expected to ease capital rules and merger approvals, industry experts and analysts said. The President-elect’s picks are likely to further dilute …
US banks to gain from looser capital, merger policies under Trump Read More »
By Samuel Shen and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Investors hoping China would announce extra fiscal buffers for an economy girding for another Donald Trump presidency were disappointed on Friday. China’s top legislative body, the standing committee of the National People’s Congress (NPC), did as was expected, approving bills to allow local governments to allocate …
China’s latest stimulus falls short of expectations Read More »
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street’s S&P500 looks poised to test 6,000 for the first time as the Federal Reserve underscored a post-election stock surge with its second interest rate cut of the year on Thursday and a nod to more. Overseas, Friday’s focus was …
Morning Bid: Post-election Wall St booms as Fed cuts, China spurs Read More »
By Siddharth Cavale NEW YORK (Reuters) – Walmart will pay independent delivery drivers new financial incentives to pick up online orders at its U.S. stores and deliver them to shoppers during the holiday season, the retailer told Reuters. The move is part of Walmart’s strategy for boosting sales to upper-income households and competing with e-commerce …
Walmart to offer independent drivers new holiday bonuses in battle with Amazon Read More »
By Chris Prentice, Pete Schroeder, Svea Herbst-Bayliss and Michelle Price WASHINGTON (Reuters) -Trump transition team officials are considering retail brokerage Robinhood’s top lawyer, as well as bank regulators and corporate attorneys, for a short list of key financial agency heads they expect to present to the president-elect soon, according to multiple people with knowledge of …
(Reuters) -Allegiant Air’s pilots have voted in favor of authorizing a strike action if the carrier fails to reach a fair agreement, the Teamsters union said on Thursday. The union, which represents 1,300 pilots of the low-cost U.S. carrier, said 97.4% of the Allegiant Air pilots voted for authorizing a strike. “Allegiant pilots are some …
Allegiant Air pilots vote to authorize strike action, union says Read More »
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve cut interest rates by a quarter of a percentage point on Thursday as its policymakers began taking stock of what could become a more complex economic landscape when President-elect Donald Trump takes office next year. Fed Chair Jerome Powell said the results of Tuesday’s …
Fed’s Powell flags careful, patient approach after rate cut Read More »
By Akash Sriram and Abhirup Roy (Reuters) -Rivian said on Thursday it was on track to turn a gross profit in the fourth quarter helped by cost cuts and a sharp increase in sales of green car credits, despite a parts shortage disrupting production and weak EV demand. Reaffirming the forecast, along with that for …
Rivian reassures investors with cost cuts, green credit sales amid weak EV demand Read More »
(Reuters) – Icahn Enterprises LP (IEP) plans to raise its stake in U.S. oil refiner CVR Energy by more than 20%, the Wall Street Journal reported on Thursday. The company, a controlling shareholder of the oil refiner, plans to raise its stake in CVR to more than 81% by buying an additional 15 million shares, …
Icahn plans raising stake in oil refiner CVR, WSJ reports Read More »
