(Reuters) – Two of the Federal Reserve’s most outspoken policy hawks on Friday pushed back on the view that the U.S. central bank has missed the boat on the fight against high inflation, citing a tightening of financial conditions that began well before the Fed began raising interest rates in March. “How far behind the…
By Echo Wang (Reuters) – Wall Street’s main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation. The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since…
NEW YORK (Reuters) – Hedge funds posted gains of 2.33% in April, mostly driven by macro funds, which managed to perform well amid high volatility, a report by hedge fund data provider HFR showed on Friday. Macro hedge funds, which bet on macroeconomics trends, rose 5.49% in the quarter, according to a macro fund asset…
By Blake Brittain (Reuters) -A Delaware jury on Friday ordered Illumina Inc to pay more than $333 million to a U.S. unit of Chinese genetic analysis company BGI Genomics after finding that Illumina’s DNA-sequencing systems infringed two patents. The jury also said https://tmsnrt.rs/39K62Cz Illumina infringed the patents willfully, and that three patents it had accused…
Tesla is covering travel costs for employees seeking out-of-state abortions, joining the ranks of major companies who’ve introduced a similar policy to benefit workers affected by new restrictions in the past few months. The company said in its 2021 “ Impact Report ” released Friday that it expanded its Safety Net program and health insurance…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose nearly 1.5% on Friday, posting a second straight weekly increase as impending European Union sanctions on Russian oil raised the prospect of tighter supply and had traders shrugging off worries about global economic growth. Brent futures rose $1.49, or 1.3%, to settle at $112.39 per barrel. U.S….
By Blake Brittain (Reuters) – A Delaware jury on Friday ordered Illumina Inc to pay more than $333 million to a U.S. unit of Chinese genetic analysis company BGI Genomics after finding that Illumina’s DNA-sequencing systems infringed two patents. The jury also said Illumina infringed the patents willfully, and that three patents it had accused…
By Echo Wang (Reuters) – Wall Street ended lower on Friday amid concerns about rising Treasury yields and the prospect of more Fed rate hikes. “Ninety-five percent of the driver of the market right now is long-term interest rates,” said Jay Hatfield, founder and chief executive of Infrastructure Capital Management in New York. The Labor…
WASHINGTON (AP) — Friday’s jobs report for April provided mixed signals on the economic issue most on the minds of Americans: Chronically high inflation. On the one hand, the proportion of people either working or looking for work slipped in April after a string of increases. Having fewer people in the workforce means employers need…
By Karen Brettell NEW YORK (Reuters) – The dollar slipped against a basket of currencies on Friday after two volatile days as investors focused on how aggressive the Federal Reserve might be in hiking rates as it tackles rising inflation. The dollar index hit a 20-year high overnight on safe-haven demand, following Thursday’s sharp stock…
