By Niket Nishant (Reuters) -U.S. regional bank stocks recovered slightly on Friday after a two-day plunge sparked by investor concerns that New York Community Bancorp’s dismal earnings signaled broader problems in the sector. The KBW Regional Banking Index gained 0.2%, snapping a three-day losing streak. NYCB shares rose 5% on Friday after sinking 45% over …
US regional bank stocks steady after brutal sell-off Read More »
By Michael Erman (Reuters) -Bristol Myers Squibb’s new chief executive said on Friday that the company was focused on driving growth toward the end of the decade but would first need to weather a difficult transition period beginning in 2026. Bristol shares were up about half a percent in early trading. Chris Boerner took over …
Bristol Myers CEO sees mid-decade transition, late decade growth Read More »
By Samrhitha A, Aishwarya Venugopal and Chuck Mikolajczak (Reuters) -Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results. Meta’s stock surged 20.3% for the session, also recording its biggest …
Meta surges with record $196 billion gain in stock market value Read More »
By David Shepardson (Reuters) – The United Auto Workers (UAW) said on Thursday that more than 30% of workers at Hyundai Motor’s Alabama plant had signed cards seeking to join the union. In November, the UAW said it was launching a first-of-its-kind push to publicly organize the entire non-union auto sector in the U.S. after …
UAW says more than 30% of workers at Alabama Hyundai plant sign union cards Read More »
By Jonathan Stempel (Reuters) – A federal judge on Friday said tens of millions of Apple customers can pursue a class action accusing the company of monopolizing the market for iPhone apps by banning purchases outside its App Store, leading to higher prices. U.S. District Judge Yvonne Gonzalez Rogers had in March 2022 refused to …
By Ann Saphir and Howard Schneider (Reuters) -Federal Reserve policymakers seeking greater confidence that inflation is on track to their 2% goal may have gotten the opposite on Friday when data showed U.S. job growth surged last month at well above the pre-pandemic pace, and wage growth accelerated. The numbers – 353,000 new jobs added …
Strong job gains may dent Fed confidence on inflation Read More »
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden will put forth his proposed U.S. spending plan on March 11, according to the White House Office of Management and Budget. The document is a wish-list for how the government should spend its money in the fiscal year starting in October. It takes on special …
Biden to release proposed U.S. budget plan on March 11 Read More »
(Reuters) – Federal Reserve Governor Michelle Bowman on Friday said she expects U.S. inflation to decline further, but flagged worries about upward price pressure from rising wages and warned against cutting interest rates too soon. “My baseline outlook is that inflation will decline further with the policy rate held at the current level,” Bowman said …
Fed’s Bowman sees inflation falling, calls for caution on rate cuts Read More »
WASHINGTON (Reuters) – New orders for U.S.-made goods rose just moderately in December, but a pick up is likely in the months ahead as unfilled orders continued to pile up. Factory orders gained 0.2% after rebounding 2.6% in November, the Commerce Department’s Census Bureau said on Friday. The increase was in line with economists’ expectations. …
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. President Joe Biden’s administration is taking aim at grocery chains, sending an election-year suggestion that the companies lower prices on goods from milk to eggs and bread. “Our message is a very clear one that the president has and will continue to lean into, which is, if you’re …
Grocery stores should cut prices as costs ease, Biden White House says Read More »
