Category: Business

The Federal Reserve kept interest rates pinned near zero on Wednesday and promised to keep them there until inflation is on track to “moderately exceed” the U.S. central bank’s 2% inflation target “for some time.” The change in guidance is part of the Fed’s monetary policy shift announced last month that is aimed to offset […]

Goldman Sachs Group promoted Barry O’Brien to co-chief operating officer of its global tech, telecom and media investment (TMT) banking team, according to a memo seen by Reuters on Wednesday. O’Brien, formerly co-head of the bank’s TMT M&A team, will hold the role with Jung Min, Goldman Sachs global head of TMT Nick Giovanni wrote […]

Shares of Nikola Corp NKLA.O on Wednesday reversed course to trade up as much as 6% from premarket losses, resulting in $24 million in mark-to-market losses for those betting against the stock, according to financial analytics firm S3 Partners. While shares shorted on the electric automaker had been decreasing over the last month, shorting picked […]

White House economic adviser Larry Kudlow on Wednesday said the United States was in a “deep review process” of a deal Oracle ORCL.N struck with the popular video-sharing app TikTok’s Chinese parent company. Kudlow says “security and ownership” were important to President Donald Trump in the review process.

Options investors are positioning for rising Treasury yields, as improving data and rising hopes for a COVID-19 vaccine fuel bets on U.S. economic growth. The average one-month put-call ratio on the iShares 20+ Year Treasury Bond ETF stands near its highest level since the beginning of the year, according to data from Trade Alert, reflecting […]

General Electric Co’s GE.N shares surged on Wednesday after Chief Executive Officer Larry Culp said the industrial conglomerate’s free cash flow would turn positive in the second half of this year. The company’s shares, which have fallen about 45.4% so far this year, were last trading up about 11% at $6.77 in afternoon trade. Culp’s […]

U.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic recovery from the COVID-19 recession was faltering. The report from the Commerce Department on Wednesday ramped up pressure on the White House and Congress to […]