Reuters US Business

By Nell Mackenzie LONDON (Reuters) -Hedge fund leverage hit a five-year high last week, with speculators buying banks, trading companies and insurance firms, Goldman Sachs data showed, after U.S. interest rates held steady and just before U.S. attacks on Iran’s nuclear sites. The U.S. Federal Reserve held interest rates steady on Wednesday last week and indicated …

Hedge fund leverage reaches five-year high, buying bank stocks, Goldman Sachs says Read More »

By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve’s top regulatory official said on Monday that an upcoming rewrite of bank leverage rules is just a “first step” in reviewing “distorted” bank capital requirements. Fed Vice Chair for Supervision Michelle Bowman said an upcoming meeting Wednesday to revisit bank leverage requirements is an initial foray in …

Fed’s Bowman eyes broad set of bank capital reforms Read More »

By Kalea Hall and Nora Eckert DETROIT (Reuters) -The United Auto Workers’ leadership is mired in turmoil over allegations of an investment blunder that officials say cost the union about $80 million in potential gains from its financial portfolio, according to seven UAW officials and employees and union documents reviewed by Reuters. The investment funds …

Exclusive-UAW investment blunder cost the union an estimated $80 million, documents show Read More »

(Reuters) -Wolfspeed plans to file for bankruptcy in the United States under a restructuring agreement with creditors, which would provide it with fresh financing and slash debt by nearly 70%, the struggling chipmaker said on Sunday. Wolfspeed raised going-concern doubts in May, as deepening economic uncertainty stemming from changing U.S. trade policies, combined with weakening …

Wolfspeed plans US bankruptcy filing in deal reached with creditors Read More »

By Norihiko Shirouzu and Abhirup Roy AUSTIN (Reuters) -Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the “robotaxi launch” and social-media influencers posting videos of their first rides. The event marked the first time Tesla cars without human drivers have carried …

Tesla rolls out robotaxis in Texas test Read More »