MEXICO CITY (Reuters) -Mexican state energy company Pemex said on Wednesday it had agreed with the powerful STPRM oil workers union on a 4.5% salary increase as part of the revision of the 2025-2027 collective bargaining agreement. Pemex did not specify the duration of the salary increase, but a document from the Union of Oil …
Mexico’s Pemex and powerful union agree to 4.5% pay increase Read More »
NEW YORK (Reuters) -A woman who says she was abused by the late financier and sex offender Jeffrey Epstein sued Bank of New York Mellon on Wednesday, alleging the bank processed $378 million in payments to victims of his sex trafficking. (Reporting by Luc Cohen in New York; Editing by Chris Reese)
By Arasu Kannagi Basil (Reuters) -Morgan Stanley’s profit beat estimates in the third quarter as a surge in dealmaking drove revenue to records, and the company’s finance chief said its investment banking pipeline is at “all-time highs.” Shares were last up 6.7% after earlier touching a record high. They have risen 32% this year. “Our …
Morgan Stanley profit beats estimates on dealmaking boost, shares soar Read More »
By Michael S. Derby (Reuters) -Federal Reserve Bank of Boston President Susan Collins reiterated Tuesday that rising risks to the job market support additional central bank interest rate cuts in what remains an uncertain economic environment. “With inflation risks somewhat more contained, but greater downside risks to employment, it seems prudent to normalize policy a …
Fed’s Collins still favors additional rate cuts to aid job market Read More »
RIO DE JANEIRO (Reuters) -Brazilian President Luiz Inacio Lula da Silva said on Wednesday that Brazil and the U.S. will hold negotiation talks on tariffs on Thursday. Lula’s remarks at an event in Rio de Janeiro followed a call between him and U.S. President Donald Trump last week in which Trump designated Secretary of State …
WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Wednesday said he plans to present three or four candidates to be the next leader of the Federal Reserve to President Donald Trump for him to interview sometime after the Thanksgiving holiday in late November. Bessent said at a CNBC event held on the sidelines of the …
Bessent says he plans to present Fed chief candidates to Trump in December Read More »
(Reuters) -Wall Street’s biggest banks kicked off third-quarter earnings by highlighting the resilience of U.S. consumers and added that credit has shown no cracks so far despite higher rates and economic uncertainty. Large lenders provide a window into consumer health because their lending, credit card activity and deposit flows reflect how households are spending, borrowing …
Factbox-Wall Street top banks highlight consumer resilience Read More »
(Reuters) -PNC Financial reported a more than 21% rise in third-quarter profit on Wednesday, driven by higher interest income and across-the-board jump in fees. The results underscored borrower resilience across the U.S. and a rebound in dealmaking from April’s tariff-driven slump, mirroring trends observed across the biggest U.S. banks this week. JPMorgan Chase raised its …
US regional lender PNC’s profit jumps on higher interest income, fees Read More »
By Echo Wang NEW YORK (Reuters) -Meta Platforms said on Wednesday it would invest $1.5 billion in a data center in Texas, breaking ground at its 29th such facility globally, as the social media giant expands infrastructure to support artificial intelligence workloads. The data center in El Paso, Meta’s third in Texas, is expected to …
Meta commits $1.5 billion for AI data center in Texas Read More »
By Saeed Azhar, Tatiana Bautzer and Manya Saini (Reuters) -Bank of America’s syndicated loans to First Brands are secured by strong collateral, while Morgan Stanley has no exposure to the bankrupt U.S. auto parts supplier, the banks’ top executives said on Wednesday. The collapse of First Brands, within days of subprime lender and dealership Tricolor’s …
BofA’s loans to bankrupt First Brands secured; Morgan Stanley has no exposure Read More »
