By Matt Tracy WASHINGTON (Reuters) – The credit quality of U.S. middle market collateralized loan obligations (CLOs), major sources of debt funding for mid-sized companies, has worsened only slightly even as the overall risk of late payments by these companies has increased, according to Moody’s. The new data suggests that despite increasingly challenging liquidity conditions…
By Greg Roumeliotis and Emma-Victoria Farr (Reuters) -ArcelorMittal SA, the world’s second-largest steelmaker, is considering a potential offer for U.S. Steel Corp, three people familiar with the matter said on Wednesday. The combination would reverse ArcelorMittal’s retreat from the United States as a production base after it sold most of its operations to Cleveland-Cliffs Inc…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian market sentiment on Thursday will again be a mix of caution and nervousness, with familiar roots: a supercharged dollar and rising U.S. bond yields, tightening financial conditions, and deepening concern over China. Wall Street’s…
By Walter Bianchi, Jorge Otaola and Lucinda Elliott BUENOS AIRES (Reuters) – Confidence in Argentina’s peso plumbed new depths on Wednesday as the currency slid to 780 pesos per dollar in the popular black market, where savers are willing to pay more than twice the official rate now pegged at 350 pesos per greenback. The…
By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -Federal Reserve officials were divided over the need for more interest rate hikes at the U.S. central bank’s July 25-26 meeting, with “some participants” citing the risks to the economy of pushing rates too far even as “most” policymakers continued to prioritize the battle against inflation,…
By Danielle Broadway LOS ANGELES (Reuters) – After three months of walking the picket lines, striking Hollywood writers expressed optimism on Wednesday about the reopening of contract talks with major studios and the possibility they could be back at work in weeks. Details of the latest proposal from the Alliance of Motion Picture and Television…
By Helen Reid LONDON (Reuters) -H&M is investigating 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, it told Reuters, just weeks after top rival Zara-owner Inditex said it was phasing out purchases from the Southeast Asian country. A British-based human rights advocacy group tracked 156 cases…
Entering the 15th week of our ongoing series, “Is ChatGPT a Superior Financial Advisor?” brings about a sense of heightened anticipation. The journey so far has been quite a rollercoaster, spanning 15 weeks. The lingering question remains: Can ChatGPT Outperform as a Financial Advisor? For those just joining us, we entrusted ChatGPT with a hypothetical…
WASHINGTON (Reuters) -U.S. Secretary of State Antony Blinken spoke by phone on Wednesday with American citizen Paul Whelan, who is being held in a Russian prison, according to a source familiar with the call. Blinken told Whelan to “keep the faith and we’re doing everything we can to bring you home as soon as possible,”…
By Jonathan Stempel and Nate Raymond NEW YORK (Reuters) – Sixteen people who witnessed a white supremacist kill 10 Black victims in a shooting last year at a Buffalo, New York grocery store have sued social media and firearms-related companies, to hold them liable for causing emotional trauma. The complaint filed on Tuesday in a…
