Fed’s jobs-weighted framework caused more problems than it fixed -research
By Howard Schneider WASHINGTON (Reuters) – The U.S. Federal Reserve’s 2020 move to put more weight on jobs in setting…
Business
Lowe’s cuts annual forecasts as home improvement demand falters
By Deborah Mary Sophia (Reuters) -Lowe’s Cos Inc cut its annual sales and profit forecasts on Tuesday, joining larger rival…
Citizens Bank to pay $9 million penalty over credit card practices -US regulator
By Jonathan Stempel (Reuters) -Citizens Bank, one of the largest U.S. regional banks, will pay a $9 million civil penalty…
US business activity rises to 13-month high in May, S&P Global survey shows
WASHINGTON (Reuters) – U.S. business activity increased to a 13-month high in May, lifted by strong growth in the services…
BlackRock puts Italy head in charge of southern Europe
MILAN (Reuters) – BlackRock, the world’s biggest asset manager, has named Giovanni Sandri, its current head of Italy, as head…
Barclays hires McDavid as equities head from Morgan Stanley
LONDON (Reuters) -Barclays has appointed a Morgan Stanley veteran Scott McDavid as its new global head of equities, the British…
Fed’s Logan: Discount window operations need to keep pace with speed of banking
RICHMOND, Virginia (Reuters) – U.S. banks should be prepared to borrow regularly from the Federal Reserve’s discount window, while the…
IMF chief hopes U.S. debt ceiling deal will come before ’11th hour’
LONDON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday she hoped the world economy would not…
China plans for ‘Jing-Jin-Ji’ world-class industrial cluster
BEIJING (Reuters) – China plans to build world-class advanced factory clusters in the Beijing-Tianjin-Hebei region focused on products such as…
Brazil stocks to keep drifting higher on mixed company results: Reuters poll
By Gabriel Burin and Noe Torres BUENOS AIRES/MEXICO CITY (Reuters) – Brazilian stocks are expected to keep drifting higher this…