WASHINGTON (Reuters) – The Federal Reserve’s big bang start on Wednesday to what’s expected to be more interest-rate cuts this year and next may have had the full support of only a slim majority of the central bank’s 19 policymakers, a look at their rate-path projections suggests. That’s a closer call than the lone formal…
NEW YORK (Reuters) -Futures on the federal funds rate, which measures the cost of unsecured overnight loans between banks, priced on Wednesday about 74 basis points of additional interest rate cuts by the Federal Reserve by the end of this year, LSEG calculations showed. This development followed a decision by the Fed earlier in the…
(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…
LONDON (Reuters) – Google parent Alphabet on Wednesday asked a London tribunal to throw out a mass lawsuit that accuses the tech giant of abusing its dominance in the online search market. The lawsuit – valued at up to 7 billion pounds ($9.3 billion) – is the latest case focusing on the business practices of…
By David Lawder and Ann Saphir WASHINGTON (Reuters) – The U.S. central bank might have begun cutting interest rates in late July had it known that the labor market was cooling as fast as it has been, Federal Reserve Chair Jerome Powell said on Wednesday. “If you ask, you know, if we’d gotten the July…
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…
By Sheila Dang (Reuters) – Snap announced an upgraded version of its Spectacles augmented-reality glasses on Tuesday, doubling down on its bet that wearable devices to enhance the view of the real world will be one of the next frontiers in tech. Snap, long known for its ephemeral messaging app Snapchat and animated filters, has…
(Reuters) -Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion. The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter. Microsoft said it will hold its annual shareholders meeting on Dec. 10. In…
By Allison Lampert, Rajesh Kumar Singh and Svea Herbst-Bayliss CHICAGO (Reuters) – Activist investor Elliott Investment Management told one of Southwest Airlines’ top unions it still wants to replace CEO Robert Jordan, according to a union memo seen by Reuters, even after the carrier pledged to shake up its board. Elliott, which owns 10% of…
(Reuters) -Republican Donald Trump said on Thursday he would not participate in another presidential debate against his Democratic rival Kamala Harris ahead of the Nov. 5 election, as several polls showed that she beat him. “THERE WILL BE NO THIRD DEBATE!” the former president wrote on social media site Truth Social, after participating in a…
