Reuters US Business

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks registered modest gains on Monday but managed to close at new highs for the year, ahead of major market catalysts this week that include inflation readings and the Federal Reserve’s policy announcement, which will strongly influence investor expectations on the path of interest rates. Market watchers increasingly …

Wall Street closes at fresh yearly highs as inflation data, Fed eyed Read More »

By Abigail Summerville (Reuters) -An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain Macy’s private, according to a person familiar with the matter on Sunday. Arkhouse Management, a real-estate focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal …

Macy’s investors mount $5.8 billion buyout bid Read More »

By Sabrina Valle, Sourasis Bose and Arathy Somasekhar HOUSTON (Reuters) -Occidental Petroleum on Monday agreed to buy closely-held U.S. shale oil producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest U.S. shale oilfield. The deal comes amid a new wave of shale consolidation underpinned by Exxon …

Occidental lands $12 billion takeover of shale producer CrownRock Read More »

By Dietrich Knauth NEW YORK (Reuters) – WeWork has resolved landlords’ objections to its bankruptcy financing agreement, saying on Monday that it had agreed to reserve a portion of any future loans in an account that will be used for rent payments. U.S. Bankruptcy Judge John Sherwood, who is overseeing the SoftBank backed company’s Chapter …

WeWork resolves landlord objections to bankruptcy financing Read More »

(Reuters) -The U.S. Treasury Department on Monday said its Financial Crimes Enforcement Network (FinCEN) unit is planning to propose a long-awaited rule aimed at curbing money laundering in real estate in early 2024. The regulator is also aiming to issue a notice of proposed rulemaking that would require investment advisers flag suspicious transactions to regulators. …

US flags early 2024 for new rule targeting real estate money laundering Read More »

(Reuters) -Goldman Sachs now projects two interest rate cuts by the U.S. Federal Reserve next year, advancing its expectation for the first cut to the third quarter, citing cooling inflation. The brokerage had earlier predicted the Fed to begin cutting rates next December. Two cuts would imply a Federal Funds Rate of 4.875% by the …

Goldman Sachs projects two Fed rate cuts next year with first in Q3 Read More »

By Jamie McGeever ORLANDO, Florida (Reuters) -Hedge funds look to be scaling down their record short position in U.S. Treasury futures, marking the beginning of the end of the so-called ‘basis trade’ – an unwind that regulators have warned could pose severe financial stability risks. With the Federal Reserve expected to begin cutting interest rates …

Praying for ‘soft landing’ of $1 trln basis trade :McGeever Read More »

A look at the day ahead in European and global markets from Wayne Cole It’s set to be a pivotal week as the Federal Reserve leads a quintet of rich-world central bank meetings that will test market optimism for early and rapid-fire rate cuts next year. The U.S. consumer price report for November on Tuesday …

Marketmind: Rate prospects at risk as central banks meet Read More »

By Anirban Sen (Reuters) -U.S. health insurer Cigna has ended its attempt to negotiate an acquisition of rival Humana after the pair failed to agree on price, two sources familiar with the situation said on Sunday, as the company announced plans to buy back $10 billion worth of shares. A Cigna-Humana combination would have created …

Cigna abandons pursuit of Humana, plans $10 billion share buyback -sources Read More »