Hedge funds rush to unwind bearish stock positions
By Carolina Mandl and Nell Mackenzie NEW YORK/LONDON (Reuters) – Global hedge funds rushed to unwind bets that U.S.-listed stocks…
Economy
Oil prices fall on profit-taking, still record weekly gain
(Corrects Brent price unit in second paragraph to ‘per barrel’) By Shariq Khan BENGALURU (Reuters) – Oil prices fell more…
M&G’s Leaviss says U.S. Treasury yields have likely peaked
By Divya Chowdhury MUMBAI (Reuters) – U.S. treasury yields have likely peaked, with longer-dated bonds looking attractive as the Federal…
David’s Bridal avoids shutdown with no-cash bankruptcy sale
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell…
Explainer – What makes a crypto asset a security in the US?
By Jody Godoy (Reuters) – Cryptocurrency companies that have resisted U.S. regulatory oversight, arguing digital assets are not securities, won…
JPMorgan, Wells Fargo prepare for losses on office loans
By Matt Tracy (Reuters) -JPMorgan Chase and Wells Fargo said on Friday they set aside more money for expected losses…
JPMorgan’s profit surges to record after First Republic deal
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase beat Wall Street estimates for the second-quarter with record profit even…
US IRS chief says budget cuts would reduce ability to pursue tax cheats
By David Lawder WASHINGTON (Reuters) – U.S. Internal Revenue Service Commissioner Danny Werfel said on Friday that a Republican plan…
Canopy Growth signs agreements to reduce debt amid liquidity crisis
(Reuters) – Pot producer Canopy Growth has signed agreements with lenders to reduce its debt by C$437 million ($333.36 million)…
JPMorgan, Wells Fargo expect deposits to extend Q2 declines
By Saeed Azhar and Nupur Anand NEW YORK (Reuters) – Deposits at U.S. banking giants including JPMorgan and Wells Fargo…