By Douglas Gillison (Reuters) – A Democratic member of the five-person U.S. Securities and Exchange Commission said on Friday he will step down more than two years early, leaving just two Republicans and one Democrat in place from the start of President-elect Donald Trump’s administration in January. Commissioner Jaime Lizarraga, a former aide to former…
Investing.com — Capital Economics strategist James Reilly expressed skepticism about the implications of Donald Trump’s 2024 election victory for U.S. equities, arguing that the win is not unequivocally beneficial for the stock market. While some market participants have celebrated the potential deregulatory and tax policies, the strategist warns of uncertainties that could weigh on performance….
(Reuters) – U.S. investors snapped up equity funds for a third successive week through Nov. 20, buoyed by optimism over rising corporate earnings expectations, although the inflows were restrained due to a cautious Federal Reserve rate outlook and geopolitical tensions between Russia and the West. According to data compiled by LSEG, investors acquired U.S. equity…
(Reuters) – U.S. bank Citigroup (NYSE:C) has received approval to establish its regional headquarters in Saudi Arabia’s Riyadh, according to an internal memo seen by Reuters on Friday. Riyadh has been looking to attract more companies to set up their regional headquarters in the kingdom by offering tax breaks as Crown Prince Mohammed bin Salman…
(Reuters) – South Korean carmaker Hyundai Motor (OTC:HYMTF) is recalling about 145,235 electrified vehicles in the United States due to a loss of drive power, the National Highway Traffic Safety Administration said on Friday. The recall includes certain IONIQ 5 and IONIQ 6 EVs along with some luxury Genesis GV60, Genesis GV70 and Genesis G80…
By Natalia Siniawski MEXICO CITY (Reuters) – Mexico’s statistics agency INEGI released data on Friday showing that inflation slowed more than expected, while growth exceeded forecasts, opening the door for the country’s central bank to cut interest rates further next month. Banxico, as the central bank is known, lowered its key rate by 25 basis…
LONDON (Reuters) -Apple could be holding back innovation in smartphone browsers, according to a British regulatory report, which recommended that Apple (NASDAQ:AAPL)’s and Google (NASDAQ:GOOGL)’s duopoly in mobile ecosystems should be investigated with its new powers. The Competition and Markets Authority (CMA) said on Friday its inquiry group had provisionally found that the mobile browser…
(Reuters) -U.S. President-elect Donald Trump floated the idea of appointing Kevin Warsh as Treasury Secretary on the understanding that he could later be Federal Reserve chair, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The potential arrangement was discussed between Trump and Warsh, a former investment banker who served on…
Investing.com — Department of Government Efficiency (DOGE) could push for sale of mortgage financing firms Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) as part of its efforts to generate cash for the government, according to a note from TD Cowen. “We believe the DOGE may be positive for the recap and release of Fannie Mae and…
By John Revill ZURICH (Reuters) -The Swiss National Bank will reintroduce negative interest rates if necessary, Chairman Martin Schlegel said on Friday, comments which weakened the Swiss franc against the dollar and euro as investors anticipated more rate cuts in future. The central bank did not like negative rates, Schlegel said, but could use them…
