(Reuters) – Federal Reserve Governor Christopher Waller on Wednesday said that while inverted yield curves in the context of stable inflation often point to a bad economic outlook, the current yield curve inversion may signal better times ahead. “What you’re seeing in the inversion is not so much fears about bad economic outcomes in the…
By Sinead Cruise and Amy-Jo Crowley LONDON (Reuters) -Deutsche Bank and Citigroup admitted anti-competitive activity by exchanging sensitive information on UK government bonds between 2009 and 2013, Britain’s anti-trust watchdog said, as it provisionally found five banks in breach of competition rules. HSBC, Morgan Stanley and Royal Bank of Canada, meanwhile, have not admitted any…
SARAJEVO (Reuters) – A higher court in Montenegro on Wednesday scrapped bail of 800,000 euros ($880,640) previously granted to Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, and his ally pending a trial. Do Kwon, a South Korean national, is the former CEO of South Korea-based Terraform Labs, the company…
By Laura Matthews NEW YORK (Reuters) – Expectations for lower returns in stocks and bonds are sending some pension funds into currency markets to diversify their portfolios and bolster performance. While both equities and fixed income have partially rebounded from last year’s steep declines, some portfolio managers worry the scope for upside in either asset…
By Laura Matthews NEW YORK (Reuters) – Expectations for lower returns in stocks and bonds are sending some pension funds into currency markets to diversify their portfolios and bolster performance. While both equities and fixed income have partially rebounded from last year’s steep declines, some portfolio managers worry the scope for upside in either asset…
By James Oliphant WASHINGTON (Reuters) – Florida Governor Ron DeSantis is expected to make his long-awaited foray into the 2024 presidential race on Wednesday in an unusual manner – at an event with billionaire Elon Musk on Twitter. His entry changes the shape of the contest for the Republican nomination, as he likely will emerge…
By Andrea Shalal and Susan Heavey WASHINGTON (Reuters) – China’s move on Micron Technology Inc won’t torpedo larger efforts to get U.S.-China relations into better position, White House spokesman John Kirby said on Wednesday, adding that Washington was engaged directly with Beijing. Kirby told reporters the Chinese government’s recent ban on the U.S. chipmaker Micron…
By Savyata Mishra (Reuters) -Kohl’s Corp on Wednesday reported a surprise profit as its new CEO’s efforts to turn around the company that saw its margins slump last year started showing results, sending the department store chain’s shares up as much as 19%. The company also maintained its full-year targets even as it posted a…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Wednesday, after a large unexpected drawdown in U.S. crude inventories and a warning from the Saudi energy minister that raised the prospect of further OPEC+ production cuts. Brent crude futures rose 90 cents, or 1.2%, to $77.74 a barrel by 12:29 p.m. EDT…
By Huseyin Hayatsever and Ali Kucukgocmen ANKARA (Reuters) -Turkey’s anti-immigrant Victory Party leader endorsed opposition presidential candidate Kemal Kilicdaroglu on Wednesday, potentially boosting the challenger as he aims to make up ground and defeat President Tayyip Erdogan in Sunday’s runoff election. Umit Ozdag, head of the nationalist Victory Party that received 2.2% support in the…
