By Davide Barbuscia and David Randall NEW YORK (Reuters) – A closely watched part of the U.S. Treasury yield curve inverted on Monday for the first time since April following hotter-than-anticipated inflation data last week. As the U.S. Federal Reserve attempts to bring inflation down from 40-year highs, banks have ramped up projections of interest…
By Katanga Johnson WASHINGTON (Reuters) -Charles Schwab Corp will pay $187 million to settle U.S. Securities and Exchange Commission (SEC) charges accusing three investment adviser subsidiaries of failing to disclose less profitable fund allocations and misleading robo-adviser clients, the agency said on Monday. The SEC, the federal agency that regulates Wall Street, called Schwab’s conduct…
WASHINGTON (AP) — For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession. Yet with the Fed set to announce another sharp interest rate hike after it meets this week, days after the…
By Luc Cohen NEW YORK (Reuters) – Binance U.S. and its CEO were sued on Monday by a U.S. investor who alleges the cryptocurrency exchange falsely marketed Terra USD as a safe asset ahead of the so-called stablecoin’s collapse in value last month. Stablecoins are digital tokens pegged to the value of traditional assets, such…
NEW YORK (AP) — Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle. Currently the number of tax credits allowed is capped at 200,000 per company. General Motors and Tesla have already reached the cap and Toyota is close…
By Lewis Krauskopf NEW YORK (Reuters) – The stock market’s brutal year neared a grim milestone as the S&P 500’s slide on Monday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth. The benchmark…
MILAN (Reuters) -Italy’s biggest phone group Telecom Italia has secured works worth 725 million euros ($755.67 million) in a government tender for the deployment of 5G networks, the ministry for technological innovation and digital transition said on Monday. Earlier this year the EU Commission approved a 2 billion-euro Italian scheme to support the roll out…
OMAHA, Neb. (AP) — Bidding for a final, private lunch with Warren Buffett, an event that has raised tens of millions for a California charity, has already topped $3 million. It will be the first private lunch offered with the billionaire since a record-setting bid in 2019. The past two auctions were called off due…
By Foo Yun Chee BRUSSELS (Reuters) -Google parent Alphabet has offered to let rival ad intermediaries place ads on YouTube to address a crucial part of an EU antitrust investigation that could pave the way for it to settle the case without a fine, people familiar with the matter said. The European Commission opened a…
By Yoruk Bahceli (Reuters) – Traders have sharply increased where they see rate hikes by the world’s top central banks ending this cycle as red-hot inflation readings may force policymakers to act more aggressively to quell price pressures. Dubbed the “terminal” rate, asset managers and borrowers have to take those levels into account in planning…
