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(Reuters) – Executives from top U.S. banks remained divided over the U.S. Federal Reserve’s future path on interest rate cuts and flagged deterioration in consumer health when they reported mixed second-quarter results. Banks are having to pay more to retain customers who are hunting for greater yields while also dealing with the fallout of higher-for-longer …

US banking execs weigh macroeconomic risks, Fed’s interest rate path Read More »

By David Shepardson WASHINGTON (Reuters) – The price of first-class U.S. mail stamps will rise on Sunday to 73 cents from 68 cents, the latest in a series of price hikes. The plan, announced in April and approved by the Postal Regulatory Commission in late May, raises overall mailing services product prices by 7.8%. So-called …

Price of US first-class mail stamp to rise to 73 cents Read More »

By Niket Nishant (Reuters) -Private-equity firm Bain Capital will buy Envestnet in a $4.5 billion deal, adding to its portfolio a financial software vendor that counts 16 of the 20 biggest U.S. banks among its customers. A cohort of investors, including Reverence Capital, BlackRock, Fidelity Investments, Franklin Templeton and State Street Global Advisors, is backing …

Bain Capital to buy financial software vendor Envestnet in $4.5 billion deal Read More »

By Nora Eckert and Nandita Bose DETROIT/WASHINGTON (Reuters) -United Auto Workers President Shawn Fain met with the union’s executive board late on Thursday to discuss his deep concerns with President Joe Biden’s ability to defeat Donald Trump in the November election, three sources familiar with the matter said. Fain called together top officials at the …

Exclusive-UAW considering next steps on worries Trump could beat Biden, sources say Read More »

SHANGHAI/SINGAPORE (Reuters) – China’s central bank is widely expected to leave a medium-term interest rate unchanged and drain some cash from the banking system when rolling over such maturing loans on Monday, a Reuters survey showed. While the economy continues to sputter, a weak Chinese currency has remained the key constraint limiting Beijing’s monetary easing …

China central bank seen holding medium-term lending rate steady Monday Read More »

By Georgina McCartney (Reuters) – An environmental group on Thursday sued the U.S. government over its approach to examining the harm caused by ageing offshore oil and gas infrastructure, citing the risks delayed decommissioning poses to people and the environment. The Center for Biological Diversity filed the lawsuit against the U.S. Interior Department in federal …

US sued over ‘failure to examine harms’ from delayed offshore oil decommissioning Read More »

By Ann Saphir and Howard Schneider CHICAGO (Reuters) -The “last mile” of the Federal Reserve’s battle against inflation may have shortened to a last lap after U.S. consumer prices unexpectedly fell in June, shoring up policymakers’ confidence that they are winning the fight and paving the way to interest-rate cuts in coming months. The consumer …

June price drop may shorten the Fed’s last mile on inflation Read More »

By Noel Randewich and Lisa Pauline Mattackal (Reuters) -The Nasdaq ended sharply lower on Thursday, hit by losses in Nvidia, Apple and Tesla as investors rotated into smaller companies after softer-than-expected inflation data fed bets the Federal Reserve will cut interest rates in September. The S&P 500 also lost ground after a Labor Department report …

Nasdaq ends sharply lower as investors rotate out of Big Tech Read More »