By Lewis Krauskopf NEW YORK (Reuters) -Some Wall Street banks are sounding caution on the U.S. stock rally, warning that stretched valuations have made equities more vulnerable to declines. The S&P 500 pulled back for the week though it is up more than 13% since the year began, fueled by signs of moderating inflation, excitement …
Lofty valuations on US stocks a growing worry for investors Read More »
(This June 22 story has been corrected to fix the amount of museum donations to be returned to $550,000, not $550 million, in paragraph 13) By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX on Thursday sued a former aide to Hillary Clinton and the former aide’s investment firm, seeking to claw back …
FTX sues ex-Clinton aide’s investment firm for $700 million Read More »
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators said on Saturday they are investigating Ford Motor’s prior recalls of 710,000 Explorer SUVs over power loss reports to determine if the fix is adequate. The National Highway Traffic Safety Administration (NHTSA) noted the No. 2 U.S. automaker issued recalls in April 2022 and March on …
US opens probe into Ford Explorer recalls over power loss reports Read More »
DUBLIN (Reuters) – European Central Bank governing council member Gabriel Makhlouf said on Saturday that while some colleagues already feel further interest rate rises will be needed beyond July, he is prepared to wait and look at the evidence. “On the evidence that we have at the moment, it does look like, in July, there …
ECB’s Makhlouf undecided about rate rise beyond July Read More »
(Reuters) -IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. IBM declined …
IBM nears $5 billion deal for software provider Apptio – WSJ Read More »
By Elida Moreno PANAMA CITY (Reuters) – The Panama Canal will postpone depth restrictions that were set to affect the largest ships crossing the key waterway, the canal authority said, after much-needed rain provided relief to the strained maritime passage. A series of measures were scheduled to go into effect on June 25 and July …
Panama Canal postpones depth restrictions after much-needed rain Read More »
(Reuters) -The number of victims of the MOVEit hack grew by several million on Thursday after the biggest U.S. pension fund, Calpers, and insurer Genworth Financial said personal information of their members and customers had been compromised. Both said a third-party vendor, PBI Research Services, was affected in a data theft hack, providing a path …
MOVEit hack claims Calpers and Genworth as millions more victims impacted Read More »
By Nupur Anand NEW YORK (Reuters) – JPMorgan Chase & Co is cutting nearly 40 investment bankers in the U.S., a source with knowledge of the matter said. The reductions come after months of sluggish markets that have depressed dealmaking across Wall Street and prompted banks to lay off thousands of employees. JPMorgan’s investment banking …
JPMorgan cuts nearly 40 investment bankers in US – source Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Friday, capping a week dominated by Federal Reserve Chairman Jerome Powell’s testimony in which he signaled more interest rate hikes ahead but vowed the central bank would proceed with caution. All three major U.S. stock indexes lost ground in a broad sell-off. Interest-sensitive …
Wall Street ends down, snaps weekly winning streak on Fed worries Read More »
(Reuters) – Goldman Sachs is likely to take a large writedown for its $2.2 billion acquisition of fintech lender GreenSky after seeking to divest the business it bought in 2021, CNBC reported on Friday, citing people with knowledge of the sale process. One bidder said GreenSky’s loan origination platform is worth roughly $300 million, while …
Goldman Sachs faces big writedown on GreenSky deal – CNBC Read More »
