By Michael S. Derby (Reuters) -The Federal Reserve’s latest Monetary Policy Report to Congress, released on Friday, was upbeat about the state of the economy but warned about some concerning aspects of the financial system. The report, which comes ahead of next week’s testimony before Congress by Fed Chair Jerome Powell, said central bank officials…
WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes plunged to a record low in January as higher mortgage rates and house prices reduced affordability for prospective buyers. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 4.6% last month to 70.6, an all-time…
By Jamie McGeever ORLANDO, Florida (Reuters) – When Federal Reserve Chair Jerome Powell and his colleagues meet this week to discuss their next interest rate move, they’ll face a much more complicated situation than they did only two months ago, due to the historic rise in long-dated Treasury yields since the central bank’s jumbo rate…
BEIJING (Reuters) -Beijing opposes U.S. President Donald Trump’s push to transfer Palestinians out of Gaza and have the U.S. take over the region, China’s foreign ministry said on Thursday, underlining a long-held position against forced displacement of people. China supports the legitimate national rights of the Palestinian people, ministry spokesperson Guo Jiakun told a regular…
BRUSSELS (Reuters) – U.S. chipmaker Nvidia’s proposed acquisition of AI startup Run:ai will have to be approved by EU antitrust regulators before the deal can be completed, the European Commission said on Thursday. The EU competition enforcer said Nvidia will have to formally seek its approval for the deal, following a request from the Italian…
LONDON (Reuters) – The price of copper in the United States rocketed on Monday after U.S. President Donald Trump pushed forward his plans to slap tariffs on industrial metals. The premium of U.S. Comex copper futures over those traded on the London Metal Exchange surged to a record of $920 per metric ton by 1820…
(Reuters) – Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks. Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast,…
By Foo Yun Chee BRUSSELS (Reuters) – Apple is facing a likely antitrust fine as the French regulator prepares to rule next month on the company’s privacy control tool, two people with direct knowledge of the matter said. Called App Tracking Transparency (ATT), the feature allows iPhone users to decide which apps can track user…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, priced in on Thursday another 25-basis-point rate cut next month, after the Federal Reserve lowered rates by the same magnitude at the end of its two-day policy meeting. Rate futures also implied…
(Reuters) – Emerson Electric said on Monday that its $265 per-share offer to acquire Aspen Technology was its “best and final” price. The announcement comes days after activist investor Elliott Management said it invested over $1.5 billion in Aspen, opposing the company’s decision to accept Emerson’s $7.2 billion tender offer. “Our break price is ~$202…
