By Karen Brettell NEW YORK (Reuters) -The U.S. dollar fell but rose off its lows on Wednesday after U.S. President Donald Trump denied news reports that he is planning to fire Federal Reserve Chair Jerome Powell. Bloomberg reported that the president is likely to fire Powell soon. A source also told Reuters that Trump is …
Dollar drops in choppy trading as Trump denies plans to fire Fed’s Powell Read More »
By Nupur Anand NEW YORK (Reuters) -Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly regulations. BofA CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender …
Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled marginally lower on Wednesday as U.S. fuel inventory builds and concerns about wider economic impact from U.S. tariffs outweighed some signs of increasing demand. Brent crude futures settled 19 cents, or 0.3% lower, at $68.52 a barrel. U.S. West Texas Intermediate crude futures were down 14 cents, …
Oil settles down; build in US fuel inventories offsets signs demand growing Read More »
By Jonathan Stempel (Reuters) -Texas’ attorney general said on Wednesday he has begun investigating Mars, which makes M&M’s and Skittles candies, for its alleged refusal to remove synthetic food dyes from its products. Ken Paxton, the attorney general, said in a statement that he issued a civil investigative demand for documents from Mars, as he …
Texas probes M&M maker Mars over use of synthetic food dyes Read More »
(Reuters) -President Donald Trump on Wednesday tamped down speculation he was on the verge of trying to fire Federal Reserve Chair Jerome Powell after word leaked he had raised the possibility in a meeting Tuesday night with House Republicans. The reports rattled financial markets that were already on edge about Trump’s plans. Administration officials had …
Explainer-What’s known about whether Trump can fire Powell from the Fed Read More »
By Amanda Stephenson CALGARY (Reuters) -Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters …
How Canada’s oil sands transformed into one of North America’s lowest-cost plays Read More »
By Jaspreet Singh and Svea Herbst-Bayliss (Reuters) -Hewlett Packard Enterprise added a veteran tech industry executive to its board on Wednesday, reaching a truce with activist Elliott Investment Management only weeks after completing a deal that had faced months of antitrust scrutiny. Robert Calderoni, who had been chair and CEO of Ariba and chair and …
HPE adds KLA chair to board in pact with activist investor Elliott Read More »
By Lananh Nguyen, Manya Saini and Tatiana Bautzer (Reuters) -Morgan Stanley <MS.N> CEO Ted Pick, who runs one of Wall Street’s biggest dealmakers, said his own firm was considering acquisitions but would set a high bar for purchases. The Wall Street bank is evaluating opportunities that fit into its strategy, Pick told analysts who quizzed …
Morgan Stanley evaluates acquisitions but sets a high bar for deals, CEO says Read More »
(Reuters) -Thermo Fisher said on Wednesday it will buy Sanofi’s manufacturing site in Ridgefield, New Jersey, to produce critical medicines for the French drugmaker. WHY IT’S IMPORTANT Sanofi has been expanding its manufacturing presence in the U.S. market, following efforts from peers such as Roche and Novartis, in a response to President Donald Trump’s repeated …
Thermo Fisher acquires Sanofi’s New Jersey manufacturing site Read More »
By Saeed Azhar and Niket Nishant NEW YORK (Reuters) -Goldman Sachs’ second-quarter profit exceeded Wall Street expectations, as turbulent markets raised revenue in its equities division to a record, and a pickup in dealmaking boosted investment banking. The results capture a growing trend of market turmoil boosting trading desks across Wall Street as investors rebalance …
Goldman’s profit tops estimates as market turbulence powers record equities revenue Read More »
