PARIS (Reuters) – Morgan Stanley’s plan to increase headcount in France by 200 by 2025 would bring its total staff in the country to 500, with the new Paris-based bankers mostly devoted to sales and trading of so-called macro products and stock derivatives. Macro products usually refer to the trading of fixed income and currency-related…
By Aditya Samal (Reuters) -Shares of Sarepta Therapeutics jumped 25% on Monday as a backing by the U.S. health regulator’s advisers increased the certainty of an accelerated approval for the company’s gene therapy for a muscle-wasting genetic disorder. The stock was set for its biggest percentage jump in over three years, while the drugmaker’s market…
By Davide Barbuscia and Pete Schroeder NEW YORK/WASHINGTON (Reuters) – As talks over raising the U.S. government’s $31.4 trillion debt ceiling intensify, Wall Street banks and asset managers have begun preparing for fallout from a potential default. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time,…
By Samrhitha A and Rahat Sandhu (Reuters) -Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. The bankruptcy filing is a fallout of a challenging period for many technology and…
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Monday that his decision to support an interest rate hike at the U.S. central bank’s most recent meeting in May was a “close call” as he weighed the impact of credit tightening from recent bank stresses. “The thing that made it a close call…
SAO PAULO (Reuters) – Brazilian retailer Americanas SA, which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties interested in buying its stake in Grupo Uni.co. Americanas, which has the billionaire trio that founded 3G Capital as reference shareholders, said in…
By Michael S. Derby (Reuters) – Bank of New York Mellon Corp on Monday said a top New York Federal Reserve official responsible for domestic markets will join the firm next month in a job focused on financial markets. Nathaniel Wuerffel, who last served as senior vice president at the New York Fed and was…
By Paul Lienert (Reuters) – Americans in the waning days of the COVID pandemic are keeping their combustion-engine vehicles longer, according to a new study. The average age of U.S. cars and light trucks this year climbed to a record 12.5 years, reflecting the impact of supply constraints on dealer inventories of new vehicles in…
(Reuters) -Right now, it’s all about deadlines, as lawmakers race to thrash out a deal on the U.S. borrowing limit, time runs short for Russia and Ukraine to agree on how to keep grain exports flowing and Turkish voters count the days to a second round of voting. Here’s a look at the week ahead…
SHANGHAI/BEIJING (Reuters) – Ford said on Monday it was working to reduce costs in China as it strives to recover from a long sales slump in the world’s largest auto market. “Our costs are not competitive, and we are working internally and with our partners to reduce costs in all areas,” a representative of Ford…
