WASHINGTON (Reuters) -The U.S. Justice Department said on Monday it would appeal a judge’s ruling that U.S. Sugar Corp’s plans to buy rival Imperial Sugar Co was legal under antitrust law, according to a court filing. Judge Maryellen Noreika of the U.S. District Court for Delaware had ruled for the companies on Friday, rejecting the …
HONG KONG (Reuters) – HSBC has appointed Goldman Sachs partner Christina Ma as its head of global banking for North Asia, according to a memo seen by Reuters. Ma will join the bank after 21 years with Goldman Sachs, most recently as its head of Greater China equities. She will replace Dai Kitamura, who was …
HSBC hires Goldman Sach’s Ma to lead North Asia global banking – memo Read More »
(Reuters) – The Federal Reserve takes into account global factors like the strength of the dollar as it sets interest rates, though it ultimately makes policy decisions based on domestic goals, Cleveland Fed President Loretta Mester said on Monday. “We’ve seen what’s going on in financial markets. … The mechanism will be through the financial …
By Hilary Russ NEW YORK (Reuters) – Starbucks plans to start negotiating its first labor contracts with employees at hundreds of unionized U.S. cafes in October, the coffee chain said on Monday. When it does, those workers are likely to ask for a key job protection: to only be fired for just cause, according to …
Starbucks could face ‘just cause’ bids at hundreds of unionized U.S. cafes Read More »
(Reuters) – The Dow Jones Industrial Average, the oldest of Wall Street’s three main stock indexes, dropped 1.1% on Monday, extending the decline from its January peak to more than 20%, meeting a common definition for a bear market. Worries that the Federal Reserve’s war against decades-high inflation is pushing the U.S. economy into a …
The Dow is in a bear market. What does that mean? Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – Recent profit warnings from bellwether companies like Ford Motor Co, may signal more challenges ahead for corporate America, increasing wariness for investors as the stock market deepens its sell-off. Investors are increasingly pricing in a U.S. economic downturn next year. The U.S. Federal Reserve raised interest rates by …
Lowered profit forecasts raise concerns on shaky Wall Street Read More »
By Jonathan Stempel NEW YORK/WASHINGTON (Reuters) – Three men, including a father-and-son duo, were criminally charged on Monday with orchestrating a market manipulation scheme that briefly caused the owner of a tiny New Jersey deli to have a more than $100 million market valuation. Peter Coker Sr, 80, Peter Coker Jr, 53, and James Patten, …
$100 million New Jersey deli scheme leads to U.S. fraud charges Read More »
By Noel Randewich (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve’s aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. After two weeks of mostly steady losses on the U.S. stock market, …
Wall Street ends lower, Dow confirms bear market Read More »
By Ann Saphir (Reuters) – With inflation “unacceptably high,” the Federal Reserve should lift rates higher and keep policy restrictive for some time, Cleveland Fed President Loretta Mester said on Monday — and if there is an error to be made, better that the Fed do too much than to do too little. “When there …
Fed’s Mester: with inflation high, better to act “aggressively” Read More »
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Expect an ugly open to Asian markets on Monday as investors try to shield themselves from the fallout from the widespread selling that battered stocks, bonds, and currencies on Friday. The historic rout in UK bonds and sterling took center stage …
