By Kanishka Singh WASHINGTON (Reuters) – Two former precious metals traders at JPMorgan Chase were sentenced on Tuesday for engaging in fraud, attempted price manipulation and spoofing, the U.S. Justice Department said in a statement. Gregg Smith, 59, of Scarsdale, New York, was sentenced to two years in prison and a $50,000 fine while Michael …
Two former JPMorgan traders sentenced to prison for fraud Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The Dow and S&P 500 ended slightly lower on Tuesday as investors stayed worried the Federal Reserve will keep interest rates higher for longer and as banks shares eased. The Nasdaq finished barely in the green. The financial sector <.SPBK> fell 0.9% and was the biggest drag on …
Dow, S&P 500 end down as US interest-rate worries mount, bank shares slip Read More »
OTTAWA (Reuters) -Canada will challenge what Ottawa described as an “unfair, unjust and illegal” extension of U.S. import duties on Canadian softwood lumber products, the trade ministry said on Tuesday. The softwood lumber tariffs are the legacy of a decades-long trade dispute over the structure of Canada’s timber sector that could not be resolved when …
Canada to challenge extension of US softwood lumber duties Read More »
By Yew Lun Tian BEIJING (Reuters) – China fined U.S. firm Mintz Group about $1.5 million for doing “unapproved statistical work”, said a Beijing Municipal Bureau of Statistics notice, after a raid of its Beijing office sparked worries about China’s openness to foreign investment. The Beijing’s Bureau of Statistics said in a ruling dated July …
China fines Mintz $1.5 million for ‘unapproved’ work, after raiding its Beijing office Read More »
(Reuters) -North American pilots are pushing for better pay and working conditions in their talks over new job contracts with company managements. Members of some unions have voted to authorize a strike if a new contract is not reached. The aggressive stance comes at a time of pilot shortages and a rise in public support …
Factbox-Pilots seek new contracts with airlines amid booming travel demand Read More »
By Melanie Burton and Sameer Manekar MELBOURNE (Reuters) -BHP Group on Tuesday said it saw solid growth from some sectors in China as it logged its weakest annual profit since 2020, but added it was too early to assess the impact of Beijing’s policy measures on the country’s housing market. In an earnings call to …
BHP sees China demand bright spots, logs 37% profit drop Read More »
By Lisa Pauline Mattackal and Medha Singh (Reuters) – America’s mom and pop bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market. Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures …
U.S. retail traders eye a fresh piece of the crypto derivatives pie Read More »
By David Randall and Lewis Krauskopf NEW YORK (Reuters) -Surging U.S. Treasury yields are sending shudders through riskier areas of the market, leaving investors to wonder how badly it will dent a rally that has lifted everything from stocks to bitcoin this year. Strong economic growth has spurred expectations that the Federal Reserve will leave …
Analysis-From stocks to bitcoin, soaring US yields cast shadow over risk asset rally Read More »
(Reuters) – U.S. brokerage firm Charles Schwab said on Monday it plans to reduce its operating costs primarily by lowering its headcount. Several companies across corporate America, including Wall Street banks, have trimmed their workforce this year in a bid to rein in costs amid still-high inflation, rising interest rates and higher borrowing costs. Charles …
Charles Schwab to reduce headcount to bring down costs Read More »
GENEVA (Reuters) – Generative AI probably will not take over most people’s jobs entirely but will instead automate a portion of their duties, freeing them up to do other tasks, a U.N. study said on Monday. It warned, however, that clerical work would likely be the hardest hit, potentially hitting female employment harder, given women’s …
AI unlikely to destroy most jobs, but clerical workers at risk, ILO says Read More »
