Investing.com — An inflation metric closely monitored by the Federal Reserve climbed higher in the year to October, potentially offering a reason for the central bank to pause its rate-cutting cycle next month. The personal consumption expenditures price index accelerated to a 2.3% annual increase during the month, from a reading of 2.1% in September….
By Nate Raymond (NS:RYMD) (Reuters) – The U.S. Treasury Department acted outside its authority when it sanctioned cryptocurrency mixer Tornado Cash in 2022 and accused it of helping launder over $7 billion for North Korean hackers and other malicious cyber actors, a U.S. appeals court ruled. A three-judge panel of the New Orleans-based 5th U.S….
Investing.com — In a note to clients Wednesday, Baird downgraded Kohl’s Corporation (NYSE:KSS) to Neutral, citing a combination of ongoing challenges and heightened uncertainty. Analysts highlighted issues in the retailer’s core apparel and footwear segments, volatility in comparable sales, and potential strategic shifts under new leadership. “We’re stepping to the sidelines as ongoing pressure in the…
(Reuters) -Mozambique’s central bank cut its main interest rate by 75 basis points on Wednesday, the sixth cut in a row, as inflation remains subdued in the southern African country. Mozambique’s MIMO interest rate was reduced to 12.75% from 13.50%. Inflation in Mozambique has remained below 3% since July, coming in at 2.68% year on…
Investing.com — Piper Sandler downgraded Workday Inc (NASDAQ:WDAY) Inc to “neutral” from “overweight” on Wednesday, citing concerns over waning growth prospects as subscription revenue and bookings continue to decrease. The brokerage also trimmed its price target to $270 from $285, noting that while Workday’s operating margin is improving, expected to reach 27.5% by FY2026, sluggish deferred…
MILANO (Reuters) – Stellantis (NYSE:STLA) will halt again auto assembly operations at its Mirafiori plant in Italy, which makes the electric Fiat (BIT:STLAM) 500 and two Maserati sport car models, from Dec. 2 to Jan. 5, the automaker said on Wednesday. “The reason is the continuing uncertainty in sales of electric cars in several European…
(Reuters) -Texas and 10 other Republican-led states sued institutional investors Blackrock (NYSE:BLK), State Street (NYSE:STT) and Vanguard on Wednesday, accusing them of violating antitrust law through climate activism that the states say led to diminished coal production. The lawsuit filed in Tyler, Texas, takes aim at the three fund managers’ membership in the Net Zero…
(Reuters) – Shares of warehouse automation firm Symbotic slumped more than 35% in early trading on Wednesday after the Walmart-backed company delayed the filing of its annual report citing “material weaknesses” in internal control over its financial reporting. Symbotic said it needed more time to assess the financial impacts of correcting a revenue recognition error…
Investing.com — JPMorgan set its 2025 price target for the S&P 500 index at 6,500, implying 8% upside potential from current levels. The target is driven by a projected earnings growth of 10% for the index, reaching $270 in earnings per share (EPS) next year. JPMorgan cites a combination of easing monetary policy, robust AI-driven…
WASHINGTON (Reuters) – The number of Americans filing new applications for unemployment benefits fell again last week, but many laid-off workers are experiencing long bouts of joblessness, keeping the door open to another interest rate cut from the Federal Reserve in December. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 213,000…
