US equity funds gain inflows for third week in a row
(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…
Citi gets license for regional headquarters in Saudi Arabia, memo shows
(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…
Hyundai recalls over 145,000 electrified US vehicles on loss of drive power
(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…
Mexico’s cooling inflation and economy growth drive expectations of further rate cuts
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…
UK should use new powers to probe Apple-Google mobile browser duopoly, report says
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…
Trump considers Warsh for Treasury Secretary and later Fed chairman, WSJ reports
(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…
DOGE may push for Fannie Mae and Freddie Mac sale, TD Cowen says
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…
Swiss National Bank chief flags negative rates, weakens Swiss franc
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…