By Lewis Krauskopf NEW YORK (Reuters) – A rough year for U.S. stocks is winding down, but the market’s pain may be far from over, as investors brace for an expected recession in 2023. With only a handful of trading days left in 2022, the benchmark S&P 500 index is down 19.8% year-to-date and headed…
(Reuters) – The Biden administration on Friday said it was ordering Mastercard Inc to stop blocking the use of competing networks to process debit payments. Under a proposed order, Mastercard would have to start providing competing payment networks with the customer account information they need to process payments, the Federal Trade Commission, which enforces competition…
By Lindsay Dunsmuir (Reuters) -After a year in which a U.S. inflation surge forced the Federal Reserve to supersize its interest rate hikes, the latest evidence price pressures are now abating will allow for smaller increments in 2023, but any cause for early celebrations remains tempered by a tight labor market that is juicing wage…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer spending barely rose in November, while annual inflation increased at its slowest pace in 13 months, but demand is probably not cooling fast enough to discourage the Federal Reserve from driving interest rates to higher levels next year. Slowing economic activity amid rising borrowing costs was also flagged…
WASHINGTON (Reuters) – U.S. consumer spending barely rose in November, while inflation cooled further, but not enough to discourage the Federal Reserve from driving interest rates to higher levels next year. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged up 0.1%, the Commerce Department said on Friday. Data for October…
(Reuters) – Wireless carrier AT&T Inc and fund manager BlackRock Inc are forming a joint venture to operate a fiber-optic platform in the United States, the companies said on Friday. The venture, Gigapower LLC, plans to deploy its network to an initial 1.5 million customer locations outside of AT&T’s traditional 21-state wireline service presence, they…
(Reuters) – U.S. stock index futures inched higher on Friday as investors awaited fresh inflation data to assess the Federal Reserve’s path of future interest rate hikes, with the central bank’s policy tightening weighing heavily on equities this year. The core personal consumption expenditure price index, the Fed’s preferred inflation gauge, is expected to have…
By Paresh Dave (Reuters) -Microsoft Corp said on Thursday its $69 billion bid to buy “Call of Duty” maker Activision Blizzard would benefit gamers and gaming companies alike. Microsoft made the argument in a filing aimed at convincing a judge at the U.S. Federal Trade Commission to allow the deal to proceed, after FTC commissioners…
By Harry Robertson and Rae Wee LONDON/SINGAPORE (Reuters) – The dollar fluctuated on Friday and was little changed in morning trading in London after two days of gains, as investors weighed up the outlook for interest rates following the release of stronger than expected U.S. economic data on Thursday. The euro was up slightly against…
By Nyasha Chingono HARARE (Reuters) – As dusk descends on the dimly lit central business district of Zimbabwe’s capital Harare, a steady stream of home-bound workers flows into a sea of informal traders hawking a mixture of basic foods, clothes and electronic devices. The crowds of night-time street traders have expanded as the southern African…
