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Investing.com — The Fed is likely to rein in its forecast for rate cuts next year as Fed members are teeing up the idea of a higher neutral rate pointing to much shallower rate-cut cycle, MRB Partners said in a recent note. “Investors should expect the Fed’s median forecast of the longer-run (or neutral) policy rate…

By Lawrence Delevingne and Carolina Mandl BOSTON/NEW YORK (Reuters) – As a money manager, Scott Bessent’s years of inconsistent performance have contributed to a nearly 90% decline in his hedge fund’s assets. Now, with some clients gone, he is scoring on perhaps his biggest bet yet: President-elect Donald Trump. Bessent spotted what he called an…

By Dietrich Knauth NEW YORK (Reuters) – Hearthside Food Solutions filed for bankruptcy protection on Friday, seeking to trim $1.9 billion debt and restructure its operations after investigations into child labor at factories where it made granola bars, breakfast cereal and snacks. Hearthside said that it never knowingly employed underage labor in its facilities, and…

By Niket Nishant and Chris Prentice (Reuters) – Robinhood Markets (NASDAQ:HOOD)’ Chief Legal Officer Dan Gallagher on Friday withdrew from consideration for chair of the Securities and Exchange Commission in the Trump administration, leaving other Republican former SEC officials among the top candidates. “I’ve made it clear to the relevant people that I’m not interested…

By Victoria Waldersee and Christina Amann WOLFSBURG, Germany (Reuters) -Volkswagen’s union said it was gearing up for strikes across German factories from Dec. 1 after talks over wages and unprecedented factory closures at Europe’s largest carmaker failed to achieve a breakthrough on Thursday. The IG Metall union had asked VW to take a “big step”…

UBS — UBS analyst David Lefkowitz sees a positive outlook for U.S. equities, describing current valuations as “reasonable in light of the macro environment.” Despite high absolute valuations, Lefkowitz highlights a favorable backdrop of improving inflation, Federal Reserve rate cuts, and robust earnings growth as key drivers of continued market gains. In the firm’s latest note,…

By Arsheeya Bajwa (Reuters) -Amazon.com pumped in an additional $4 billion into artificial intelligence startup Anthropic, as the e-commerce giant goes up against Big Tech rivals in a race to capitalize on generative AI technology. This doubles Amazon (NASDAQ:AMZN)’s investment in the firm known for its GenAI chatbot Claude, but it remains a minority investor,…

(Reuters) – Bank of America’s private banking arm said on Friday industry veterans Phillip Edwards and Lauren Stuhmer would join its Palm Beach office as private client advisers. Edwards and Stuhmer, who have a combined experience of more than 50 years in the financial industry, would join from Citi’s private banking arm, where they were…

By David Shepardson (Reuters) -The U.S. Transportation Department has approved New York’s plan to impose a $9 congestion charge for driving in Manhattan starting on Jan. 5, a move aimed at raising billions for mass transit and cutting traffic. The congestion charge, the first of its kind in the United States, was revived last week…