By Michael S. Derby NEW YORK (Reuters) – If economic trends that existed before the coronavirus pandemic reassert themselves, a modest cooling in the labor market may not be enough to bring down a key measure of underlying inflation, research released Wednesday from the San Francisco Fed said. The report looked at what has come…
(Reuters) – National Economic Council Director Lael Brainard on Wednesday said the latest U.S. economic data shows that upward price pressures can and are receding without a surge in unemployment that many had feared. “The economy is defying predictions that inflation wouldn’t fall absent significant job destruction,” Brainard said at an event held by the…
By Michelle Price WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday finalized long-awaited regulations to improve the resilience and transparency of the roughly $5.5 trillion U.S. money market fund industry. A critical source of short-term corporate and municipal funding, money market funds have been bailed out by the U.S. government twice…
By Abhirup Roy SAN FRANCISCO (Reuters) – Texas again deferred a vote on grants of federal funds to build electric vehicle chargers to Aug. 16 amid pushback from some charging companies over its plan to include Tesla’s technology in charging stations, according to three sources. A spokesperson at Texas’ department of transportation confirmed that the…
By Anirban Sen NEW YORK (Reuters) -Wildcat Capital Management LLC, which manages the wealth of buyout firm TPG Inc’s co-founder David Bonderman, has asked Consolidated Communications Holdings Inc to reject an offer to take the company private for $2.9 billion including debt. A non-binding $4-per-share all-cash offer for the broadband services provider undervalues it by…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware after offering remedies to help rival Marvell Technology. The deal, Broadcom’s largest ever, will help the chipmaker diversify into enterprise software. Broadcom offered Marvell and other rivals interoperability…
By Rachel Nostrant (Reuters) – U.S. students have not caught back up to pre-COVID levels of learning in math and reading, with Black and Hispanic pupils among the hardest hit by the pandemic, a study released on Tuesday showed. The analysis by the Northwest Evaluation Association (NWEA) highlights the continuing toll on education from the…
By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) -Top U.S. and European investors are flagging their concerns about high prices to consumer goods companies, with Janus Henderson going so far as to cut some stakes it holds and shorting food makers it believes are at risk of losing customers. The industry, which is due…
By David Carnevali and Svea Herbst-Bayliss NEW YORK (Reuters) – Morgan Stanley has hired veteran investment banker Daniel Cohen from Truist Financial Corp, where he was the head of the firm’s healthcare services advisory business, a person familiar with the matter said on Wednesday. In his new role, Cohen will continue to focus on dealmaking…
By James Oliphant, Gram Slattery and Alexandra Ulmer WASHINGTON (Reuters) – Florida Governor Ron DeSantis’ campaign is making a high-risk bet that it can halt Donald Trump’s march to the Republican presidential nomination by winning the key state of Iowa next January, despite the former president’s commanding lead in polls and growing questions about DeSantis’…
