By Stephen Culp NEW YORK (Reuters) -U.S. stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked in to high gear and retailers lured bargain hunters with Cyber Monday deals. All three major U.S. stock indexes ended the session modestly in the red. “Markets are taking a breather …
WASHINGTON (Reuters) -Meta Platforms, which owns WhatsApp, Instagram and Facebook, lost the latest round of a court battle over privacy on Monday after a federal judge ruled a U.S. regulator can seek to reduce the amount of money the social media company makes from users under 18. Judge Timothy Kelly of the U.S. District Court …
US federal judge rules against Meta in privacy fight with FTC Read More »
NEW YORK (Reuters) – Former NBCUniversal Chief Executive Jeff Shell is in talks to join private equity firm RedBird Capital Partners, among others, he confirmed to Reuters on Monday. Shell left Comcast-owned NBC in April after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation, Comcast said …
Former NBCUniversal chief Jeff Shell in talks to join private equity firm RedBird Read More »
By Shankar Ramakrishnan (Reuters) – Earlier this fall, Morgan Stanley bought $300 million worth of protection against losses on some of its loans from Blackstone Group and other investors, two sources familiar with the matter said. The transaction, details of which have not been previously reported, was effectively insurance, structured as a sale of bonds …
Wall Street gets creative as regulators demand more capital Read More »
By Daniel Wiessner (Reuters) – A U.S. labor board has dismissed claims that Tesla Inc illegally fired employees working on Autopilot software at a New York factory to put an end to union organizing. A National Labor Relations Board (NLRB) regional official on Friday tossed out a complaint filed in February by Workers United, a …
Tesla beats claim that it fired factory workers amid union campaign Read More »
(Reuters) – The U.S. Securities and Exchange Commission on Monday adopted a financial crisis-inspired rule barring traders in asset-backed securities from betting against the same assets they sell to investors. The SEC move is mandated by the Dodd Frank law, aimed at eradicating behavior seen in the 2008 global financial crisis. The rule is among …
Wall Street regulator adopts Dodd Frank rule against trader conflicts Read More »
By Lewis Krauskopf NEW YORK (Reuters) – The Federal Reserve will cut rates more aggressively than markets are currently pricing in as a mild U.S. recession arrives in the first half of next year, economists at Deutsche Bank projected on Monday. In an outlook report, the Deutsche Bank economists projected 175 basis points in rate …
US recession will prompt 175 basis points in Fed cuts next year, DB economists say Read More »
By David Randall NEW YORK (Reuters) – An upcoming “economic soft patch” will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists at the Wells Fargo Investment Institute warned in a note on Monday. The firm cut its 2024 earnings estimate for the Russell 2000 …
Wells Fargo sees economic “soft patch” capping further S&P 500 gains Read More »
(Reuters) – A team of bankers focused on healthcare at Citigroup has left for rival Jefferies Financial after the firm’s executives mulled closing the municipal banking department altogether, Bloomberg News reported on Monday. The group of about 10 bankers departing for Jefferies included managing directors Brian Carlstead, Ben Klemz and Katherine Meyers, the report said, …
By Matt Tracy and Davide Barbuscia (Reuters) – U.S. bond giant Pacific Investment Management Company (PIMCO) said on Monday it expects the next few years to provide the best opportunities for private credit investors since the global financial crisis. As banks become more cautious on lending due to lower liquidity and regulatory scrutiny, this has …
Private credit to see best opportunities since ’08 crisis in coming years -PIMCO Read More »
