By Siddharth Cavale and Ananya Mariam Rajesh (Reuters) CHICAGO/NEW YORK/NORTH BERGEN, N.J. -Taylor Swift fans and their parents lined up outside some of Target’s nearly 2,000 U.S. stores early on Black Friday to buy copies of her new Eras Tour book. Hoping to buck a long stretch of slowing sales at Target stores – with […]
Trump’s tariffs could cost carmakers up to 17% of combined core profits, S&P says
(Reuters) – European and American carmakers are set to lose up to 17% of their combined annual core profits if the U.S. imposes import tariffs on Europe, Mexico and Canada, S&P Global said in a report on Friday, warning of potential credit downgrades. Premium automakers Volvo and Jaguar Land Rover, who mostly produce in Europe, […]
Morning bid: Bonds in vogue on Black Friday, yen pops
A look at the day ahead in U.S. and global markets from Mike Dolan While Americans have been feasting and preparing to shop, U.S. Treasuries have put in a decent rally this week – countering considerable post-election fiscal anxieties as world bonds find a bid more broadly. While the holiday week and month-end position squaring […]
Jobs data set to pave way for rates path, stocks
By Lewis Krauskopf NEW YORK (Reuters) – The coming week will give investors a fresh view into the health of the U.S. economy with the release of a closely watched employment report that could help determine the trajectory of interest rates in the months ahead. Stocks are heading into December with the benchmark S&P 500 […]
Big pharma pushes Trump team to ease Medicare drug price negotiation rules
By Michael Erman, Patrick Wingrove and Maggie Fick NEW YORK (Reuters) – The U.S. pharmaceutical industry is pushing to revamp the new law that allows Medicare to negotiate prices for its costliest prescription drugs once president-elect Donald Trump is back in office, according to lobbyists, executives, analysts and healthcare policy experts. Seven lobbyists and executives […]
BlackRock, Vanguard, State Street sued by Republican states over climate push
By Jonathan Stempel (Reuters) -BlackRock, Vanguard and State Street have been sued by Texas and 10 other Republican-led states, which said the large asset managers violated antitrust law through climate activism that reduced coal production and boosted energy prices. Wednesday’s complaint filed in the federal court in Tyler, Texas, is among the highest profile lawsuits […]
Orange signs deal with OpenAI to get access to pre-release AI models
By Gianluca Lo Nostro (Reuters) – Orange has struck a multi-year partnership with OpenAI in Europe that will give the French telecoms operator access to pre-release AI models, group chief artificial intelligence officer Steve Jarrett said on Wednesday. WHY IT’S IMPORTANT Orange will become the first telecoms firm in Europe to have direct access to […]
Exclusive-Exxon lobbyist investigated over hack-and-leak of environmentalist emails, sources say
By Raphael Satter and Christopher Bing WASHINGTON (Reuters) – The FBI has been investigating a longtime Exxon Mobil consultant over the contractor’s alleged role in a hack-and-leak operation that targeted hundreds of the oil company’s biggest critics, according to three people familiar with the matter. The operation involved mercenary hackers who successfully breached the email […]
Exclusive-Trump plans no exemption for oil imports under new tariff plan, sources say
By Jarrett Renshaw (Reuters) – U.S. President-elect Donald Trump does not intend to spare crude oil from his planned 25% import tariffs on Canada and Mexico, sources told Reuters on Tuesday, as the oil industry warned the policy could hurt consumers, industry and national security. Canada and Mexico are the top sources of U.S. crude […]
Bitcoin options trade shows more bets on retreat after failing to breach $100,000
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Investors in the world’s largest cryptocurrency are anticipating a significant downward move after bitcoin failed to hit an all-time peak of $100,000, according to a crypto trading platform citing recent options activity. Bitcoin hit a record high of $99,830 on Nov. 22, but it has since fallen more […]