(Reuters) -J.P. Morgan Asset Management launched its largest active exchange-traded fund on Wednesday, anchored by a $2 billion investment from an external client, as the company expands its push into a strategy that is making a strong comeback. The JPMorgan Active High Yield ETF, wich will be trading on the Cboe BZX Exchange, will invest …
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By Arasu Kannagi Basil (Reuters) -Shares of several New York-based banks and real estate investment trusts fell on Wednesday as Zohran Mamdani’s lead in New York City’s Democratic mayoral primary stoked concerns that his proposed rent freeze could pressure building owners. On the campaign trail, Mamdani, a 33-year-old state lawmaker and self-described democratic socialist, vowed …
New York banks, REITs fall as Mamdani’s mayoral lead stokes rent freeze worries Read More »
By Lucia Mutikani WASHINGTON (Reuters) -Sales of new U.S. single-family homes fell by the most in nearly three years in May as high mortgage rates and rising economic uncertainty sapped demand, lifting the supply of unsold houses on the market to the highest level since late 2007. The larger-than-expected decline in sales reported by the …
New home sales fall to seven-month low in May; supply increases Read More »
By Blake Brittain (Reuters) -Microsoft has been hit with a lawsuit by a group of authors who claim the company used their books without permission to train its Megatron artificial intelligence model. Kai Bird, Jia Tolentino, Daniel Okrent and several others alleged that Microsoft used pirated digital versions of their books to teach its AI …
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NEW YORK (Reuters) -Federal Reserve Chairman Jerome Powell said Wednesday any move to strip the central bank of its power to pay interest on reserves would be difficult and take a long time to implement. “If you were to want to go back to scarce reserves, it would be a long and bumpy and volatile …
Fed’s Powell cautions against ending Fed power to pay interest on reserves Read More »
By Gianluca Lo Nostro (Reuters) -Worldline shares lost more than a third of their value on Wednesday after a group of 21 European media outlets alleged that the French digital payments company covered up client fraud to protect revenue. German regulator BaFin had banned Worldline’s German subsidiary Payone from working with 450 clients in 2023 …
Payments group Worldline shares tumble 41% after allegations by media consortium Read More »
By Liz Hampton and Georgina McCartney DENVER (Reuters) -U.S. crude oil and fuel inventories fell last week as refining activity and demand rose, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 5.8 million barrels to 415.1 million barrels in the week ending June 20, the EIA said, exceeding analysts’ expectations in …
US crude and fuel inventories fall on higher demand, EIA says Read More »
(Reuters) -AeroVironment’s shares soared on Wednesday after the company beat Wall Street expectations for fourth-quarter results, driven by sustained demand for its military drones. Shares jumped 25% in early trading, on track for its biggest daily percentage rise since March 5 last year. Defense sector demand for unmanned systems and military hardware continues to be …
AeroVironment shares soar as drone demand fuels quarterly results beat Read More »
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Boston President Susan Collins said on Wednesday she’s leaning toward the central bank cutting rates later this year amid an uncertain outlook. “While I continue to expect it will be appropriate to resume gradual policy normalization later this year, my outlook could change significantly …
Fed’s Collins says rate cuts later this year are possible Read More »
(Reuters) -Ulta Beauty said on Wednesday its finance chief Paula Oyibo has quit the role after a little over a year and named insider Chris Lialios as its interim CFO. Oyibo joined the beauty products retailer in 2019 and became its finance chief in April 2024, succeeding longtime CFO Scott Settersten. Lialios joined Ulta Beauty …
Ulta Beauty CFO Paula Oyibo quits, picks insider for interim role Read More »
