By Simon Jessop and Ross Kerber LONDON/BOSTON (Reuters) – A flagship coalition aimed at aligning the asset management industry with global climate goals said it was suspending its activities on Monday, days after BlackRock, the world’s biggest investor, left amid a political backlash in the United States. BlackRock, which manages some $11.5 trillion inassets, left […]
Biggest US banks ready mortgage relief for victims of Los Angeles wildfires
(Reuters) -JPMorgan Chase and Bank of America are preparing to ease mortgage repayment conditions for customers affected by the Los Angeles wildfires, as residents grapple with one of the most destructive natural disasters in the city’s history. Chase Home Lending is providing disaster forbearance for mortgage customers affected by the wildfires, parent firm JPMorgan said […]
Biden forgives student loans for 150,000 borrowers, bringing total to 5 million
By Kanishka Singh WASHINGTON (Reuters) -President Joe Biden said on Monday his administration would cancel student loans for more than 150,000 borrowers, targeting those who attended schools that defrauded students, those with permanent disabilities and public service workers. Biden said the total number of Americans who have had their student debt canceled by his administration […]
Nvidia’s biggest customers delaying orders of latest AI racks, The Information reports
(Reuters) -Nvidia’s top customers are delaying orders of the AI chip leader’s latest ‘Blackwell’ racks due to overheating issues, the Information reported on Monday. The Santa Clara, California-based company’s shares fell more than 4% in early trading. The U.S. government also said earlier in the day it would further restrict AI chip and technology exports, […]
US sues to block corporate travel company merger
(Reuters) – The U.S. has sued to block a proposed merger between American Express Global Business Travel Group and CWT Holdings, saying the $570 million deal would eliminate competition between the largest and third largest providers of business travel management services. The deal threatens to undermine competition for those services in the U.S., the Department […]
Meta to end diversity programs ahead of Trump inauguration
By Katie Paul (Reuters) – Meta Platforms is ending its diversity, equity, and inclusion (DEI) programs, including those for hiring, training and picking suppliers, it said in a memo to employees posted on an internal company forum on Friday. The move comes in the run-up to U.S. President-elect Donald Trump’s inauguration, as the company attempts […]
UN chief upset Blackrock quit climate group, urges others to stay
By Michelle Nichols UNITED NATIONS (Reuters) – U.N. Secretary-General Antonio Guterres is disappointed that the world’s biggest asset manager, BlackRock BLK.N, has left a global initiative to combat climate change, his spokesperson said on Friday, urging other companies to “stay the course.” The move came under pressure from Republican politicians. BlackRock, which manages some $11.5 […]
Wall Street ‘fear gauge’ at 3-week high as stocks sink
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Wall Street’s most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts. The Cboe Volatility Index – an options-based indicator that […]
Exclusive-US to release clean fuel tax credit model that limits ethanol producers’ credit access, sources say
By Jarrett Renshaw and Stephanie Kelly NEW YORK (Reuters) -The U.S. is expected to release by next week a climate model for clean fuel tax credits that will sharply reduce the ability of ethanol producers to access subsidies for production of sustainable aviation fuel, three sources familiar with the matter told Reuters. The exclusion […]
Trump Organization in talks to repurchase Washington DC hotel lease, WSJ reports
(Reuters) – President-elect Donald Trump’s company is in negotiations to repurchase the lease on a hotel in Washington D.C. it used to own, the Wall Street Journal reported on Friday, citing people familiar with the matter. The Trump Organization had sold the lease on the hotel, which is blocks away from the White House in […]