LONDON (Reuters) – Investors sought shelter in cash and U.S. Treasuries and dumped gold and equities as markets braced for a bumpy ride as central banks raise rates aggressively in the face of slowing economic growth, BoFA Securities said in a weekly note on Friday. Investors squirreled $62.6 billion into cash and $2.4 billion into …
Dash to cash, bonds as position gauge mired in extreme bearishness – BoFA Read More »
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department on Thursday awarded $968.6 million to 85 airport projects to address the country’s aging and often mocked aviation infrastructure. Some projects will fund new terminals, boost gate capacity, add air traffic control towers, jet bridges, new bathrooms, baggage claim belts and reconfigure security checkpoints. The five-year, …
U.S. awards $968.6 million for airport terminal projects Read More »
By David Lawder WASHINGTON (Reuters) – U.S. Internal Revenue Service Commissioner Charles Rettig asked the Treasury Department’s internal watchdog to investigate how two former FBI officials vilified by former President Donald Trump were selected for intensive tax audits, the IRS said on Thursday. The announcement came after the New York Times reported that former FBI …
IRS chief asks Treasury watchdog to probe audits of ex-FBI officials Read More »
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Two of the Federal Reserve’s most vocal hawks on Thursday said they would support another 75 basis-point interest rate increase later this month but a downshift to a slower pace afterward, even as both downplayed the risk of higher borrowing costs pushing the U.S into recession. “I am …
Fed hawks signal downshift in U.S. rate hikes after July Read More »
(Reuters) -GameStop Corp is laying off employees and Chief Financial Officer Mike Recupero has left the video game retailer, Axios reported on Thursday, citing a company memo. The company’s shares fell about 8% in extended trading. GameStop did not immediately respond to a Reuters request for comment. Recupero will be replaced by Chief Accounting Officer …
GameStop to lay off employees; CFO leaves – Axios Read More »
By Jody Godoy (Reuters) -A U.S. jury on Thursday convicted former Theranos Inc President Ramesh “Sunny” Balwani of defrauding investors and patients about the blood testing startup that was once valued at $9 billion. The San Jose, California, jury deliberated for a little more than five days before convicting Balwani on two counts of conspiracy …
U.S. jury convicts Theranos’ Sunny Balwani of fraud Read More »
By Rose Horowitch and Richard Cowan WASHINGTON (Reuters) -U.S. Senate Democrats are finalizing a plan to close a tax loophole used by many companies, and they want to use those revenues to shore up the government-run Medicare healthcare program for the elderly and disabled, sources familiar with the discussions said on Thursday. Democrats expect to …
U.S. Senate Democrats aim to close tax loophole on ‘pass-through’ firms – sources Read More »
By David French NEW YORK (Reuters) – Wall Street benchmarks ended up on Thursday, with the S&P 500 and Nasdaq recording their fourth successive higher closes, as traders leaned in to U.S. equities after the Federal Reserve hinted at a more tempered program of interest rate hikes. U.S. stock markets have stabilized in July after …
S&P, Nasdaq end higher as July hot streak continues Read More »
By Medha Singh (Reuters) -Shares of GameStop Corp rose nearly 10% on Thursday after the video game retailer announced a four-for-one stock split in an attempt to revive retail interest that has waned amid a market selloff. The stock, which was last up at $127.70, was the most actively traded on retail trading platform Fidelity …
GameStop jumps as stock split lures retail investors Read More »
(Reuters) – Levi Strauss & Co trumped estimates for quarterly revenue on Thursday, bolstered by higher prices and strong demand for its denim jeans as consumers get back to offices and social events. The company’s shares rose about 5% in extended trading, after Levi also bumped up its quarterly dividend by 20% to 12 cents …
Levi Strauss revenue thrives on pricier denims, strong demand Read More »
