By Howard Schneider WASHINGTON (Reuters) – As the U.S. economy reopened from the pandemic in 2021 and companies realized the pricing power at hand from supply shortages and consumers’ eagerness to spend, corporate profits spiked to claim the highest share of national income in 60 years. Profits would claim more than 15.5 cents on the…
(Reuters) – Scores of famous figures, including writers and actors, have signed an open letter urging Russian President Vladimir Putin to free opposition politician Alexei Navalny and to end what they called his torture in prison. Nobel prize-winning writers Svetlana Alexievich, JM Coetzee, Herta Mueller, Orhan Pamuk, Olga Tokarczuk and Mario Vargas Llosa were among…
By Svea Herbst-Bayliss and Carolina Mandl NEW YORK (Reuters) – When Wall Street investors, dealmakers and chief executives meet in Beverly Hills next week to strategize on how to make money given the concerns swirling around markets, much talk will revolve around the letter R – as in regional banks, rates, regulatory regimes and recession….
(This April 25 story has been corrected to rectify the name of the firm to Morgan Stanley Investment Management, not Morgan Stanley Asset Management, in paragraph 14) By Stephen Culp NEW YORK (Reuters) – U.S. stocks sold off, closing deep in negative territory, and Treasury yields dropped on Tuesday as disappointing earnings and soft economic…
By Shilpa Jamkhandikar, Aditya Kalra and Munsif Vengattil MUMBAI (Reuters) – The video streaming business of Mukesh Ambani, Asia’s richest person, is likely to focus on pricing and local content following a deal with Warner Bros as it seeks to challenge the likes of Disney and Netflix in India, industry sources said. Under the content…
By Elizabeth Howcroft LONDON (Reuters) – Mastercard will expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms, the company’s head of crypto and blockchain said, even as the sector comes under closer scrutiny from regulators and banks grow wary. Mastercard has already partnered with crypto exchanges including Binance, Nexo and Gemini…
NEW YORK (Reuters) – U.S. consumer spending was unchanged in March, while underlying inflation pressures remained strong, data from the Commerce Department showed Friday, which could see the Federal Reserve raising interest rates again next month. Though inflation remains elevated, it is gradually slowing. The personal consumption expenditures (PCE) price index gained 0.1% in March…
By Gabriella Borter and Sharon Bernstein (Reuters) – State legislatures are wrestling with how much to restrict or expand abortion access after the U.S. Supreme Court overturned Roe v. Wade last year. Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023, including details on a law that…
(Reuters) – Traders of futures tied to the Federal Reserve’s policy rate on Friday firmed up bets the U.S. central bank will raise its benchmark rate a final time in May after the government reported core inflation rose 4.6% in March from a year earlier. U.S. short-term interest rate futures were down slightly after the…
(Reuters) – Intel Corp shares rose nearly 6% as the once-dominant chipmaker’s quarterly print indicated “baby step progress” in efforts to turn around its business after ceding market share to rivals and struggling with all-time low margins. At least 13 brokerages raised their target price on the stock that has underperformed rivals this year, encouraged…
