A look at the day ahead in U.S. and global markets from Mike Dolan Flagging world markets got a lift on Tuesday as China moved to shore up the falling yuan from the year’s lows and nodded to more government stimulus to underpin its spluttering economic recovery instead. With falling Chinese interest rates diverging markedly…
(Reuters) – Most major U.S. banks expect the Federal Reserve to deliver another 25-basis-point rate hike in July after the central bank signaled that borrowing costs may need to rise by as much as half a percentage point by the end of the year. The Fed’s main rate now stands at 5.00% – 5.25% range….
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Monday granted preliminary approval to JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. The approval was issued by U.S. District Judge…
PARIS (Reuters) – A sizeable chunk of Renault’s planned electric vehicle spinoff could remain in free float on the stock market, its CEO said in an interview published on Tuesday, declining comment on any further strategic investor who would join partners Qualcomm and Nissan. “We need to leave some free float, because we still want…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Investors are watching a large hedged-equity fund’s quarterly refresh of its options positions and quarter-end rebalancing by portfolio managers to potentially influence U.S. stock moves as the first half of the year winds down this week. The nearly $16 billion JPMorgan Hedged Equity Fund, which holds a basket…
By Selena Li HONG KONG (Reuters) -China’s new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and avoid breaching tightened confidentiality rules, Asia’s largest financial lobby group said on Tuesday. China’s long-awaited rules for offshore stock exchange listings came into effect on…
By Greg Torode and Yew Lun Tian HONG KONG (Reuters) – Amid intensifying military deployments across East Asia, high-level defence dialogue between China and the United States remains frozen. U.S. Secretary of State Antony Blinken did not secure any progress on the issue during his visit to Beijing last week. U.S. Defence Secretary Lloyd Austin…
By Jane Lanhee Lee OAKLAND, California (Reuters) – Snowflake a cloud data analytics company, is partnering with computing company Nvidia to allow customers ranging from financial institutions to healthcare and retail to build AI models using their own data. The two companies announced the partnership at Snowflake Summit 2023 on Monday. “In the old days,…
By Brendan Pierson (Reuters) – A California man suing Johnson & Johnson told jurors on Monday how his life was upended by a cancer diagnosis that he blames on using the company’s baby powder since childhood, as the first trial over the product in nearly two years neared its end. “I just turned into a…
WASHINGTON (Reuters) – U.S. President Joe Biden spoke on Monday with Italian Prime Minister Giorgia Meloni about the brief uprising by Russian mercenaries against the Kremlin and also invited her to visit the White House in July, the White House said in a statement. Biden has spoken with key allies about the events in Russia…
