Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

WASHINGTON, Sept 28 (Reuters) – In the month since Federal Reserve Chair Jerome Powell laid down a hard line on inflation, stocks have suffered double-digit losses, chasms have opened in global currency markets, and yields on the safest US government debt have surged to their highest levels since the dark days of the financial crisis … Read more

Bed, Bath & Beyond investors watching merchandise mix during sales slump

NEW YORK, NY, Sept 28 (Reuters) – Bed Bath & Beyond (BBBY.O) investors will be closely watching the home goods retailer’s second quarter earnings on Thursday for clues as to how customers are responding to its merchandise overhaul. The holiday season will be Bed Bath & Beyond’s “make-or-break moment” to show shoppers that its new … Read more

Bank of England seeks to stem bond market turmoil after tax cut storm

BoE starts buying bonds, delays gilt sales IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.7% to $1,065 Kwarteng meets banking bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would buy … Read more

US fines 16 Wall Street firms $1.8 bln for talking deals, trades on personal apps

Sept 27 (Reuters) – US regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS (UBSG.S), a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. The sweeping industry probe, first reported by … Read more

Eisai, Biogen say Alzheimer’s drug succeeds in slowing cognitive decline

Sept 27 (Reuters) – Eisai Co Ltd (4523.T) and Biogen Inc (BIIB.O) on Tuesday said their experimental Alzheimer’s drug significantly slowed cognitive and functional decline in a large trial of patients in the early stages of the disease, marking a rare win in a field littered with failed drugs. The drug, lecanemab, slowed progress of … Read more

Fed officials stare down markets, say inflation is top focus

Register now for FREE unlimited access to Reuters.com register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that … Read more

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier Register now for FREE unlimited access to Reuters.com register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the town with … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Exclusive: Italy and Intel pick Veneto as preferred region for new chip plant

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/File Photo Register now for FREE unlimited access to Reuters.com register Intel to build advanced packaging and assembly site in Italy Draghi’s successor to have a say … Read more

Exclusive: Credit Suisse sounds out investors about capital hike

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com register ZURICH, Sept 23 (Reuters) – Credit Suisse is sounding out investors for fresh cash, two people familiar with the matter said, approaching them for the … Read more