WASHINGTON (Reuters) – U.S. President Joe Biden on Friday nominated former Federal Reserve Governor Sarah Bloom Raskin to be the central bank’s vice chair for supervision and two Black economists, Lisa Cook and Philip Jefferson, to serve on its board of governors, the White House said on Friday. The nominations, if confirmed by the Senate,…
By Anirban Sen and Matt Scuffham (Reuters) -JPMorgan Chase & Co reported a 14% fall in fourth-quarter profit on Friday due to a slowdown in its trading arm, but a stellar performance at its investment banking unit helped the lender sail past analysts’ estimates. The country’s largest bank, whose fortunes are often seen as a…
By Ernest Scheyder (Reuters) – A bipartisan piece of legislation to be introduced in the U.S. Senate on Friday would force defense contractors to stop buying rare earths from China by 2026 and use the Pentagon to create a permanent stockpile of the strategic minerals. The bill, sponsored by Senators Tom Cotton, an Arkansas…
By Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) – U.S. stock index futures edged lower on Friday as big lenders including JPMorgan and Wells Fargo kicked off the fourth-quarter earnings season with a mixed batch of results, while big technology companies extended declines after a bruising selloff. JPMorgan Chase & Co tumbled 3.0% in premarket…
By Arriana McLymore and Danielle Kaye NEW YORK, NY (Reuters) – Target Corp and computer software firm SAS are among major companies bowing out of what is billed as the retail industry’s biggest annual trade show, slated to start Sunday in New York City’s Javits Center. Target, which had at least five executives slated to…
BEIJING (Reuters) – China posted a record trade surplus in December and in 2021, as exports outperformed expectations during a global pandemic, but some analysts pointed to a slowdown in international shipments in the coming months. The trade surplus hit $676.43 billion in 2021, the highest since records started in 1950, up from $523.99 bln…
By Andrea Shalal and Ann Saphir WASHINGTON (Reuters) – U.S. President Joe Biden has picked former Federal Reserve Governor Sarah Bloom Raskin for the Fed’s key regulatory post and two Black economists – Lisa Cook and Philip Jefferson – to serve on its board in what would represent a landmark demographic overhaul of the world’s…
By Sinchita Mitra (Reuters) -Experian sees growing demand for its services in the booming buy-now-pay-later (BNPL) sector as it adds more clients to the unit, the world’s largest credit data firm said on Friday after a strong third quarter. BNPL is a segment that is becoming more mainstream and Experian’s clients are demanding the company’s…
By Farah Master HONG KONG (Reuters) -Macau’s government said on Friday that the number of new casino operators allowed to operate in the world’s largest gambling hub would be limited to six concessionaires with an operating period of up to 10 years. The announcement, which has been highly anticipated by casino executives, investors and analysts,…
LONDON (Reuters) -Tech giant Google has spent $1 billion to buy a central London building where it is currently a tenant, showing its confidence in the future of the office as a place to work, the company said on Friday. Google, which employs 6,400 people in Britain, plans a multi-million pound refurbishment of its offices…
