By Stephen Culp NEW YORK (Reuters) -The tech-heavy Nasdaq lost ground on Tuesday as the market awaited a spate of high profile corporate earnings and the Federal Reserve convened for its monetary policy meeting. The S&P 500 closed essentially unchanged, hovering near Monday’s all-time closing high, while the blue-chip Dow finished modestly higher. Alphabet and …
Nasdaq ends lower ahead of big tech earnings, focus on Fed Read More »
By Laura Matthews and Tom Westbrook NEW YORK/SINGAPORE (Reuters) – A liquidation order for China’s most debt-laden developer begins a drawn-out process for creditors that is likely to lay bare the depths of China’s real-estate downturn and leave builders locked out of global debt markets as investors shun exposure. A Hong Kong court appointed liquidators …
Analysis-Evergrande liquidation highlights investor despair at China debts Read More »
By Helen Reid LONDON (Reuters) -Swedish fashion retailer H&M is under pressure to prove to investors it can turn its fortunes around and fend off fierce competition from fast-fashion rivals such as Zara, whose sales are rising, and China-founded Shein, set to go public this year. H&M, which sold more than $22 billion in clothing …
H&M profit target in spotlight as cost-cutting gathers pace Read More »
By Stephen Culp NEW YORK (Reuters) -U.S. stocks advanced on Monday as market participants looked ahead to this week’s slew of megacap earnings, economic data and the Federal Reserve’s monetary policy meeting. All three major U.S. stock indexes advanced, with the tech-laden Nasdaq enjoying the largest percentage gain. The S&P 500 notched yet another record …
S&P 500 hits fresh closing high ahead of Fed meeting, big tech earnings Read More »
By Pete Schroeder WASHINGTON (Reuters) -A top U.S. bank regulator on Monday proposed new regulations for bank mergers and acquisitions (M&A) in a bid to increase transparency around the process, while ensuring some deals do not slide through automatically without sufficient scrutiny. The move by the Office of the Comptroller of the Currency (OCC) comes …
US bank regulator to boost transparency of merger reviews Read More »
By Jonathan Stempel (Reuters) – American Airlines was sued on Monday in a proposed class action by two customers who said the carrier stripped them of 1.1 million frequent flier miles after they doubled up on credit cards offering mileage bonuses. Ari and Shanna Nachison said American wrongly accused them of fraud for opening multiple …
American Airlines is sued for seizing cardholders’ frequent flier miles Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. Treasury on Monday said it expects to borrow $760 billion in the first quarter, $55 billion below the October estimate primarily due to forecasts for increased net fiscal flows and higher cash balance. The first-quarter financing estimate assumes a cash balance of $750 billion at the …
US Treasury to borrow $760 billion in Q1, lower than forecast Read More »
By Lananh Nguyen and Niket Nishant (Reuters) -Jim Esposito, co-head of Goldman Sachs’ global banking and markets division, plans to retire after almost three decades at the bank, the latest executive to leave the Wall Street giant in recent months. Esposito, who jointly runs Goldman’s powerhouse trading and investment banking unit alongside Dan Dees and …
Goldman Sachs banking, trading co-head Jim Esposito to retire Read More »
By Noe Torres MEXICO CITY (Reuters) – Grupo Financiero Banorte, one of Mexico’s largest financial companies, on Monday launched bineo, a digital bank which will offer savings accounts and personal loans with the aim of adding 2.8 million new clients in the next five years. Banco Banorte, which is owned by the company, already has …
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Treasury Department should do more to ensure that major tech firms, including Meta Platforms and Alphabet, comply with sanctions against foreign firms that advertise on their platforms, a top lawmaker said on Monday. Democratic U.S. Senator Mark Warner, who heads the Senate Intelligence Committee, wrote a letter …
US Senate panel urges Treasury Dept to make tech firms comply with sanctions Read More »
