By Divya Chowdhury MUMBAI (Reuters) – U.S. treasury yields have likely peaked, with longer-dated bonds looking attractive as the Federal Reserve is near the end of its hiking cycle, M&G Investments’ Jim Leaviss said. “Unless we get a resurgence in core inflation from where we are now, then it should be the peak in bond…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell its business to asset manager Cion Investment Corp in a no-cash transaction, reaching a deal to keep 195 stores open and avoid a total shutdown. U.S. Bankruptcy Judge Christine Gravelle approved the sale at a…
By Jody Godoy (Reuters) – Cryptocurrency companies that have resisted U.S. regulatory oversight, arguing digital assets are not securities, won a court victory this week. On Thursday Ripple Labs got a landmark ruling from a federal judge who said some of the company’s XRP token sales were not subject to securities laws. WHAT DID THE…
By Matt Tracy (Reuters) -JPMorgan Chase and Wells Fargo said on Friday they set aside more money for expected losses from commercial real estate loans, in the latest sign that stress is building up in the sector. Lenders’ exposure to commercial real estate has come under growing scrutiny this year, as the sector globally –…
(Reuters) – Former Netflix content chief Cindy Holland on Friday has been named the global CEO of entertainment group Sister, co-founded by Elisabeth Murdoch, the daughter of media mogul Rupert Murdoch. Holland left Netflix in 2020 after 18 years at the streaming giant, including nine years where she served as vice president of original content….
By David Lawder WASHINGTON (Reuters) – U.S. Internal Revenue Service Commissioner Danny Werfel said on Friday that a Republican plan to cut the agency’s annual budget would reduce its ability to ramp up tax collections on millionaires like it has done in recent months. Republicans on the U.S. House of Representatives Appropriations Committee have proposed…
By Saeed Azhar and Nupur Anand NEW YORK (Reuters) – Deposits at U.S. banking giants including JPMorgan and Wells Fargo are expected to extend their second-quarter decline as consumers keep spending and moving their money in search of higher yields. “We do expect deposits to come down,” Wells Fargo chief financial officer Mike Santomassimo told…
By Arriana McLymore NEW YORK (Reuters) – Amazon shoppers snagged deals on food delivery, travel and healthcare during a two-day Prime Event that ended on Wednesday, highlighting the potential for growth in services at an e-retailing giant long focused on goods. Amazon’s 200 million U.S. Prime members snapped up $12.7 billion in merchandise, a record…
By Jesús Aguado, Andres Gonzalez and Iain Withers MADRID/LONDON (Reuters) – Santander is accelerating growth of its investment bank by hiring at least 50 bankers primarily in the United States, two people with knowledge of the matter told Reuters. Spain’s biggest bank is best-known as a retail lender in Europe and Latin America, but wants…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. import prices fell for a second straight month in June as an increase in the cost of fuels was more than offset by declines elsewhere, the latest indication that inflationary pressures in the economy are abating. With the inflation environment improving considerably, Americans are growing more optimistic about…
