By Davide Barbuscia and Matt Tracy NEW YORK (Reuters) – The spreads between U.S. investment-grade corporate bond yields and U.S. Treasuries have surged to their highest in over three months, in a sign of risk aversion due to political uncertainty in France and as U.S. government bonds rallied. Spreads indicate the premium investors demand to…
WASHINGTON (Reuters) – U.S. consumer prices were unexpectedly unchanged in May amid cheaper gasoline, but inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong labor market. The unchanged reading in the consumer price index reported by the Labor Department’s Bureau of…
PANAMA CITY (Reuters) -Ramon Fonseca, who co-founded the now defunct law firm linked to the Panama Papers scandal, died overnight in hospital, his lawyer told Reuters on Thursday morning. “He had been hospitalized since the start of April,” Fonseca’s lawyer Guillermina McDonald said in a phone call, without saying for what Fonseca was being treated….
WASHINGTON (Reuters) – The U.S. House of Representatives narrowly voted Thursday to approve legislation to tighten rules limiting Chinese content in vehicles qualifying for U.S. electric vehicle tax credits. The House voted 217 to 192 to approve the bill, which has not been taken up by the Senate, to tighten the definition of Chinese components…
(Reuters) – Chicago Federal Reserve President Austan Goolsbee on Friday said he believes U.S. monetary policy is “relatively restrictive,” meaning that borrowing costs are putting downward pressure on inflation. Increased supply, including on the labor side, makes it difficult to interpret if strong job gains and economic growth indicate any worrisome overheating, he said at…
(Reuters) – Global equity funds had their biggest weekly inflows in more than three months in the seven days to June 26, driven by expectations of moderating U.S. inflation levels that could lead the Federal Reserve to announce interest rate cuts. Investors purchased global equity funds worth a net $21.65 billion during the week, the…
By David Shepardson and Allison Lampert WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) is investigating a Boeing whistleblower’s claims that the company dismissed safety and quality concerns in the production of the planemaker’s 787 and 777 jets, an agency spokesperson said on Tuesday. The planemaker has been grappling with a full-blown safety crisis that…
(Reuters) – JPMorgan Chase has created a new role that will oversee its junior bankers and analysts amid a focus to tackle the persistent problem of overworking on Wall Street. Ryland McClendon, a near 14-year JPMorgan veteran, has been named as the global investment banking associate and analyst leader, according to an internal memo sent…
(Reuters) – Blackstone CEO Stephen Schwarzman will support Donald Trump as the former president looks to return to the White House, Axios reported on Friday. Schwarzman, one of the biggest political donors on Wall Street, plans to donate to Trump and various Republican Senate candidates, the report said, citing a statement from the CEO. Long…
By Jonathan Stempel NEW YORK (Reuters) – U.S. prosecutors made a case for leniency for former FTX cryptocurrency executive Caroline Ellison when she is sentenced over her role in the exchange’s collapse, citing her help in sending FTX founder Sam Bankman-Fried to prison for 25 years. In a letter on Tuesday to U.S. District Judge…
