WILMINGTON, Delaware (Reuters) -A lawyer for Meta Platforms shareholders who were suing Mark Zuckerberg and other company leaders told a Delaware judge on Thursday that the parties had reached a settlement agreement, ending a $8 billion trial over Facebook’s user privacy violations. (Reporting by Tom Hals, Editing by Bhargav Acharya;)
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of New York President John Williams declined on Wednesday to comment on President Donald Trump’s attacks on the central bank and what it might mean if the president were to somehow remove the Fed’s leader from office. “I can’t comment” on what the president has …
Fed’s Williams won’t comment on Trump attacks on central bank Read More »
By Courtney Rozen WASHINGTON (Reuters) -Federal employees can get permission to work from home or adjust their hours to accommodate religious fasts and prayers, the Trump administration said on Wednesday, after previously demanding that workers report to offices full time. President Donald Trump ordered all federal employees on Inauguration Day to report to their work …
Trump team relaxes work-from-home ban for federal employees for religious reasons Read More »
WASHINGTON (Reuters) -U.S. import prices rebounded marginally in June amid cheaper energy products, but higher costs for consumer goods were consistent with a tariff-driven increase in inflation. Import prices increased 0.1% last month after a downwardly revised 0.4% decline in May, the Labor Department’s Bureau of Labor Statistics said on Thursday. Economists polled by Reuters …
By Howard Schneider WASHINGTON (Reuters) -The U.S. Federal Reserve should not cut interest rates “for some time” as the impact of Trump administration tariffs begin passing through to consumer prices, with tight monetary policy needed to keep inflationary psychology in check, Federal Reserve governor Adriana Kugler said on Thursday. With unemployment stable and low, and …
Fed’s Kugler: No rate cut for some time as tariffs pass through to prices Read More »
WASHINGTON (Reuters) -The number of Americans filing new applications for jobless benefits fell last week, pointing to steady job growth in July, though some laid off workers are experiencing long spells of unemployment because of a moderation in hiring. Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 221,000 for the week …
US weekly jobless claims fall; job growth appears steady in July Read More »
(Reuters) -Fifth Third Bancorp reported a rise in second-quarter profit on Thursday, as lower deposit costs boosted the regional bank’s interest income, cushioning a larger buffer for loan losses. An interest rate cutting cycle by the U.S. Federal Reserve in the second half of 2024 has prompted efforts by banks to reduce deposit costs across …
Fifth Third Bancorp’s quarterly profit rises on higher interest income Read More »
By Mike Dolan LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Wednesday’s market drama on reports of an imminent ouster of Federal Reserve Chair Jerome Powell has calmed quickly, with President Donald Trump saying it was “highly unlikely” he would fire the central bank boss even …
Morning Bid: Markets calm down after Powell poser Read More »
By Lewis Krauskopf NEW YORK (Reuters) -With Wall Street’s surge to record highs, the U.S. stock market looks nearly as expensive as ever, and investors are debating whether the lofty valuations are a bearish signal or justified by the technology-heavy market’s profit outlook. Few investors would argue the broad stock market is cheap. Since late …
Analysis-Lofty US stock market valuations bank on earnings strength Read More »
TOKYO (Reuters) -Global rating agency S&P downgraded Nippon Steel to ‘BBB’ from ‘BBB+’ with a ‘negative’ outlook on Thursday, citing an increasing financial strain following the Japanese steelmaker’s acquisition of U.S. Steel last month. The downgrade reflects concerns over Nippon Steel’s financial position, which S&P expects to remain weak over the next one to two …
S&P downgrades Nippon Steel to ‘BBB’ on debt strain from US Steel deal Read More »
