By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, priced in on Thursday another 25-basis-point rate cut next month, after the Federal Reserve lowered rates by the same magnitude at the end of its two-day policy meeting. Rate futures also implied …
US rate futures price in more Fed easing in December and 2025 Read More »
By Michael S. Derby (Reuters) – Federal Reserve Chairman Jerome Powell said that for now, the central bank is not taking on board in its policy-making choices the outcome of this week’s election. “In the near term the election will have no effects on our policy decisions,” Powell said in a press conference following a …
Fed’s Powell says election outcome has no near-term policy impact Read More »
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration said on Thursday it will boost its oversight of Boeing as the planemaker prepares to resume production of its 737 MAX jets following a 53-day strike that ended earlier this week. FAA Administrator Mike Whitaker spoke with Boeing CEO Kelly Ortberg this week and stressed the …
FAA to strengthen oversight as Boeing set to resume 737 MAX production Read More »
By Jonathan Stempel (Reuters) – Vanguard Group, the largest U.S. manager of mutual fund assets, agreed to pay $40 million to settle a lawsuit claiming it stuck ordinary investors in its popular target-date retirement funds with surprisingly large tax bills. A preliminary settlement of the proposed class action was filed on Wednesday in Philadelphia federal …
Vanguard to pay $40 million to mutual fund investors stuck with big tax bills Read More »
By Milana Vinn, Echo Wang and Nupur Anand NEW YORK (Reuters) – Wall Street executives cheered the prospect of business-friendly regulations and a burst of deals as they analyzed the implications of Donald Trump’s reelection, although some felt uneasy about his unpredictability. Trump’s return to power is likely to significantly ease some regulatory pressures under …
Wall Street cheers Trump’s return, with some trepidation Read More »
(Reuters) – U.S. President-elect Donald Trump is likely to allow Jerome Powell to serve the remainder of his term as the Federal Reserve chair, CNN reported on Thursday, citing a senior adviser to Trump. While Trump could change his mind, he and his economic team’s present view is that Powell should remain atop the central …
Trump likely to allow Fed Chair Powell to serve remainder of his term, CNN reports Read More »
By Allison Lampert and Aatreyee Dasgupta MONTREAL (Reuters) -Bombardier’s third-quarter revenue beat analysts’ estimates on Thursday, helped by strong demand for business jet parts and repairs. But the manufacturer of Challenger and Global jets reported cash burn, a metric closely watched by investors, of $127 million during the quarter, compared with positive cash flow of …
Bombardier’s quarterly revenue beats on services business boost Read More »
By Juveria Tabassum (Reuters) -Tapestry has halted Capri integration plans as the Coach parent appeals a U.S. judge’s decision to block its $8.5 billion deal for the Michael Kors owner, the company said on Thursday. The merger was blocked last month after the U.S. Federal Trade Commission argued that it would eliminate fierce head-to-head competition …
Coach parent Tapestry pauses Capri integration plans amid appeal to lift block Read More »
(Reuters) -Duke Energy said on Thursday it estimates the total cost to restore facilities damaged by Hurricanes Debby, Milton and Helene to be in the range of $2.4 billion to $2.9 billion. Duke, the largest utility covering North and South Carolina, saw the hurricanes hit its service territories in the past few months and rip …
Duke Energy sees up to $2.9 billion in hurricane restoration costs Read More »
(Reuters) – Italian tyre maker Pirelli said on Thursday its operating profit rose more than expected in the third quarter, thanks to growing volumes, product mix and efficiencies. The company said adjusted earnings before interest and tax (EBIT) grew 4.4% in the quarter to 276.8 million euros ($2.99 billion), higher than 270 million euros in …
Pirelli’s third-quarter operating profit rises above forecasts Read More »
