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Wall Street CEOs back Fed independence as Trump administration probes Powell
Wall Street CEOs back Fed independence after a Trump administration probe of Chair Jerome Powell sparks market and inflation concerns.
Wall Street indexes finish higher with tech, Walmart
NEW YORK, Jan 12 (Reuters) – The S&P 500 and Dow registered record closing highs on Monday, with shares of technology companies and retailer Walmart gaining and as investors mostly brushed aside concerns about the U.S. Justice Department’s criminal investigation of Federal Reserve Chair Jerome Powell. Technology was among the day’s biggest sector gainers. Shares […]
Capital One $425 million depositor settlement wins preliminary approval after earlier rejection
NEW YORK, Jan 12 (Reuters) – A federal judge granted preliminary approval on Monday to Capital One’s revised $425 million class action settlement with depositors who said they were cheated out of high interest rates, two months after an earlier accord was rejected. U.S. District Judge David Novak in Alexandria, Virginia, ruled after Capital One […]
Trump administration probe of Fed’s Powell draws pushback
A criminal probe of Fed Chair Jerome Powell sparked bipartisan criticism, raised concerns over Fed independence and moved markets.
Paramount Skydance sues Warner Bros for details on Netflix deal
Jan 12 (Reuters) – Paramount Skydance on Monday sued Warner Bros Discovery for more information on a rival $82.7 billion deal with Netflix, escalating a battle to take control of one of the most storied Hollywood studios. The David Ellison-led company also said it plans to nominate directors to Warner Bros Discovery’s board, in one […]
Alphabet hits $4 trillion valuation as AI refocus lifts sentiment
Jan 12 (Reuters) – Alphabet hit a $4 trillion market valuation on Monday, as the Google parent’s sharpened artificial intelligence focus allayed doubts about its strategy and thrust it back to the forefront of the high-stakes race. The tech giant on Wednesday surpassed Apple in market capitalization for the first time since 2019, becoming the […]
Trump team escalates attack on Fed’s Powell with criminal indictment threat
Jan 12 (Reuters) – The Trump administration has ramped up its pressure campaign on the U.S. central bank, threatening to indict Federal Reserve Chair Jerome Powell over comments he made to Congress about a building renovation project, prompting the Fed chief to call the move a “pretext” to gain more influence over the setting of […]
Past three Fed chairs decry ‘unprecedented’ assault by Trump on Powell
Former Federal Reserve chairs denounced a criminal probe of Chair Jerome Powell, warning it threatens central bank independence.
S&P 500 notches record high close driven by Broadcom, other chipmakers
S&P 500 closed at a record as chip stocks surged and a weak jobs report kept expectations for Federal Reserve rate cuts intact.
Saks Global Plans Chapter 11 Bankruptcy Filing
Luxury retailer Saks Global plans to file for Chapter 11 as soon as Sunday as it seeks financing to stay operating.
