By Stephen Culp NEW YORK (Reuters) – The S&P 500 and the Nasdaq moved lower on Monday as investors digested Friday’s employment report and prepared for an eventful week of inflation data and bank earnings. Megacap momentum stocks hit the tech-heavy Nasdaq hardest, while industrials helped boost the blue-chip Dow into green territory. All three…
WASHINGTON (Reuters) – The U.S. Federal Trade Commission opened a new front in its fight against the Intercontinental Exchange deal to buy Black Knight by asking a federal court for a preliminary injunction to halt the deal while its internal administrative process moves forward. The agency said on March 9 it would seek to stop…
By Tom Polansek CHICAGO (Reuters) – About 150 employees of a Tyson Foods Inc chicken plant in Arkansas went on strike on Monday for better treatment before the company shuts the facility, an organizer said. Tyson plans to close the plant in Van Buren, Arkansas, on May 12, eliminating jobs for 969 employees, as it…
By Howard Schneider WASHINGTON (Reuters) – Interest rates eventually should fall back to levels seen before the outbreak of COVID-19, with advanced economies again within sight of the “zero lower bound” and developing countries seeing rates in steady decline, the International Monetary Fund said in a new analysis of whether the “natural” rate of interest…
By Michael S. Derby NEW YORK (Reuters) – Americans said last month that access to credit was at its toughest level in nearly a decade, as they also braced for higher levels of inflation over the next few years, a report from the New York Fed said Monday. In the March Survey of Consumer Expectations,…
TAIPEI (Reuters) -Taiwanese chipmaker TSMC said on Monday it is communicating with Washington about its “guidance” for a law designed to boost U.S. semiconductor manufacturing that has sparked concerns about subsidy criteria. Conditions for subsidies include sharing excess profit with the U.S. government, and industry sources have said the application process itself could expose confidential…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -World Bank Group President David Malpass said on Monday that the lender has revised its 2023 global growth outlook slightly upward to 2% from a January forecast of 1.7% but the slowdown from stronger 2022 growth will increase debt distress for developing countries. Malpass told a media…
(Fixes spelling in headline) By Jorgelina do Rosario WASHINGTON (Reuters) -A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next year. Many weaker economies navigated the fallout from the COVID-19 pandemic and the war in Ukraine with…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s new central bank governor Kazuo Ueda said he wants more time to judge whether wage growth will be sustained enough to keep inflation stably at the bank’s 2% target, suggesting he will be in no rush to dial back its massive stimulus. Ueda faces a…
By Howard Schneider WASHINGTON (Reuters) – Jeffrey Haley, the CEO of American National Bank and Trust Company, saw the crunch coming at the start of 2023. Rising interest rates and a slowing economy to him meant that loan growth would likely fall by half as the Danville, Virginia-based community bank turned its focus to better-quality,…
