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Citigroup promotes 276 employees to managing director in smallest class since 2020

3 Dec 2025

Dec 3 (Reuters) – Citigroup said on Wednesday it has promoted 276 employees to managing director roles in 2025, the smallest class in five years. The Wall Street firm announces managing director promotions every year, the highest officer title at the bank. The new MDs come from 21 countries, with nearly 49% of them from …

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Mizuho’s Katz sees ‘fertile’ conditions driving robust M&A market into 2026

3 Dec 2025

By Sabrina Valle NEW YORK, Dec 3 (Reuters) – The “fertile” conditions driving dealmaking in 2025 will persist through the end of the year and into the next as CEOs look for scale and private-equity firms offload aging assets, according to Michal Katz, Mizuho Americas head of investment and corporate banking. This year was dominated …

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AI investment, M&A poised to increase corporate financing needs next year

3 Dec 2025

By Tatiana Bautzer and Saeed Azhar NEW YORK, Dec 3 (Reuters) – Big tech companies’ investments in artificial intelligence and busier M&A activity will raise the volume of debt issuance by investment-grade companies next year, bank executives said on Wednesday during a panel at the Reuters NEXT conference in New York. The funding needs of …

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AI companies’ safety practices fail to meet global standards, study shows

3 Dec 2025

Dec 3 (Reuters) – The safety practices of major artificial intelligence companies, such as Anthropic, OpenAI, xAI and Meta, are “far short of emerging global standards,” according to a new edition of Future of Life Institute’s AI safety index released on Wednesday. The institute said the safety evaluation, conducted by an independent panel of experts, …

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Macy’s strikes cautious tone on holiday spending, posts surprise profit

3 Dec 2025

By Juveria Tabassum Dec 3 (Reuters) – Macy’s on Wednesday warned of picky consumers during the crucial holiday season as inflation pressures spending on non-essential goods even as the department store operator posted a surprise quarterly profit and raised annual targets. “Consumers are more discerning about how and where they spend their dollars,” said CEO …

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Bessent plans to push residency requirement for regional Fed bank presidents

3 Dec 2025

By Dan Burns and Michael S. Derby Dec 3 (Reuters) – U.S. Treasury Secretary Scott Bessent on Wednesday said he plans to advocate for a requirement that the 12 regional Federal Reserve bank presidents reside in their districts for at least three years before being appointed to those positions. Bessent, speaking at the New York …

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US private payrolls post largest drop in more than 2-1/2 years in November

3 Dec 2025

By Lucia Mutikani WASHINGTON, Dec 3 (Reuters) – U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing still-low layoffs. Economists also cautioned against …

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Retailers pull out the stops to neutralize inflation, tariff drag

3 Dec 2025

(Corrects to remove extraneous character in paragraph 14) By Savyata Mishra and Arpan Varghese Dec 3 (Reuters) – Retailers are trying various strategies to counter the drag from inflation and tariffs, from leaning on wealthier customers and celebrity ads to outright store closures. Headed into the year-end shopping season, they have had mixed success as …

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