By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Friday after Federal Reserve Chair Jerome Powell struck a moderately dovish stance, contrary to market expectations, saying that given how credit conditions have tightened, the U.S. central bank may not need to raise interest rates as much. A pause in negotiations to raise the…
CANNES (Reuters) – Actor Sean Penn said on Friday he supported striking Hollywood writers and called studios’ rejection of their demand to restrict the use of artificial intelligence in writing scripts a “human obscenity”. “There are a lot of new concepts that are being tossed about, you know, including the use of AI,” Penn said…
By Lisa Pauline Mattackal and Divya Chowdhury MUMBAI (Reuters) – Investors are looking beyond the U.S. technology sector’s bounceback this year for longer-term returns, as higher interest rates and an uncertain macroeconomic picture could present further headwinds, fund managers and strategists said. The tech-heavy Nasdaq Composite has jumped 21% this year, more than doubling the…
WASHINGTON (Reuters) – Amgen Inc has agreed not to quickly close on its $27.8 billion acquisition of Horizon Therapeutics after the U.S. Federal Trade Commission (FTC) filed suit to block the deal. A U.S. district court judge issued a temporary restraining order late on Wednesday after the two companies and the FTC reached an agreement…
By Nupur Anand NEW YORK (Reuters) -As JPMorgan Chase & Co CEO Jamie Dimon prepares to take the stage for the bank’s investor day on Monday, he can expect plenty of questions about its purchase of failed First Republic Bank. Analysts will seek more details about the deal and JPMorgan’s plans to integrate the business…
By Isla Binnie NEW YORK (Reuters) – U.S.-based bankers and money managers whose job titles include “ESG” or “sustainability” earn on average around 20% higher base salaries than colleagues of the same seniority without those labels, according to analysis of salary data shared with Reuters. More than $30 trillion in capital has been committed to…
By Tim McLaughlin WORCESTER, Massachusetts (Reuters) – Superiors of the U.S. Air National Guardsman accused of leaking military secrets offered him intelligence-related training even after they admonished him twice for his handling of classified information, according to a memo disclosed this week by U.S. Justice Department attorneys. Before his arrest in April on espionage charges, Jack…
By Doina Chiacu and David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told bank CEOs on Thursday that more mergers may be necessary after a series of bank failures, CNN reported on Friday, citing two people familiar with the matter. A Treasury spokesperson declined to comment on the meeting with CEOs of the largest…
By Daphne Psaledakis WASHINGTON (Reuters) – The United States, Canada and the United Kingdom issued fresh sanctions on Russia on Friday over its invasion of Ukraine. Here are the main sanctions, announced during a G7 summit in Japan. U.S. TREASURY DEPARTMENT SANCTIONS The Treasury Department imposed sanctions on 22 people and 104 entities with touchpoints…
(Reuters) – Meta Platforms’ Instagram is planning to release a text-based app that will compete with Twitter and may debut as soon as June, Bloomberg News reported on Friday, citing people familiar with the matter. The Facebook parent is testing the product with influencers and some creators, according to the report. The company did not…
