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Big rates market trade envisions end of Fed balance sheet unwind

By Gertrude Chavez-Dreyfuss and Laura Matthews NEW YORK (Reuters) -A sizable block trade in the U.S. rates market late last week appeared to be positioning ahead of the Federal Reserve’s expected announcement to finally end its long-running balance sheet reduction program, known as quantitative tightening ...
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UBS files application for US banking licence, eyeing growth

ZURICH (Reuters) -UBS has filed an application for a national banking licence in the United States, the Swiss bank said on Monday, underlining its growth ambition for the U.S. market. In a memo to UBS staff seen by Reuters, Rob Karofsky, the president of UBS ...
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Berkshire cut to ‘underperform’ by KBW, which cites Geico, tariffs, Buffett

By Jonathan Stempel (Reuters) -Berkshire Hathaway has been downgraded to “underperform” by Keefe, Bruyette & Woods, which said lower car insurance margins, tariffs, falling interest rates, smaller clean energy tax credits and Warren Buffett’s departure will weigh on its share price. KBW analyst Meyer Shields, who ...
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Goldman in talks for $10 billion mandate from Kuwait, Bloomberg News reports

(Reuters) -Goldman Sachs is in talks to secure a $10 billion mandate from Kuwait’s wealth fund for its asset-management arm, Bloomberg News reported on Monday. The firm has been in talks with the Kuwait Investment Authority (KIA) to receive the money over the coming years ...
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TSX opens flat as US-China trade hopes offset precious metals slump

(Reuters) – Canada’s main stock index opened flat on Monday with sliding precious metals prices offsetting potential gains from improving U.S.-China trade relations. At 9:31 a.m. ET (1331 GMT), Toronto’s S&P/TSX composite index was down 0.07% at 30,329.54 points.(Reporting by ...
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Many US criticisms of multilateral trading system are valid, says WTO chief

BERLIN (Reuters) -WTO Director-General Ngozi Okonjo-Iweala said on Monday that some of the United States’ criticisms of the multilateral trading system were valid. “I think that a lot of the criticisms made by the US of the system are valid, I share them,” Okonjo-Iweala said ...
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Japan’s $550 billion package focuses on U.S. infrastructure, Lutnick tells Nikkei

TOKYO (Reuters) -U.S. Commerce Secretary Howard Lutnick said Japan’s $550 billion U.S.-bound investment package would focus on areas such as power and pipelines that are fundamental to national security and “have virtually no risk.” In an interview with the Nikkei business daily published on Monday, ...
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Albemarle to divest Ketjen control, Eurecat stake in deals worth $660 million

(Reuters) -Albemarle said on Monday it will sell a 51% stake in its refining catalyst solutions business, Ketjen, to private equity firm KPS Capital Partners, and divest its 50% interest in the Eurecat joint venture to France’s Axens SA, in deals worth about $660 ...
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Morning Bid: Stocks zoom on trade and inflation relief

By Mike Dolan (Reuters) -What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Trade and inflation relief are driving world stock markets sharply higher on Monday, as we begin a packed week of big central bank meetings and heavyweight tech earnings. I’ll ...
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Lululemon partners with NFL to release apparel collection

(Reuters) -Lululemon Athletica on Monday announced a partnership with the National Football League to release an apparel collection, sending shares up about 5% in premarket trading. The yogawear maker said the collection, which will be available from Tuesday, will feature men’s and women’s apparel and ...
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Mazda forms EU carbon emissions pool with Changan joint venture

MILAN (Reuters) -Japanese automaker Mazda has teamed up with its joint venture with China’s Changan to pool carbon credits and help avoid carbon emissions fines, an EU document showed. Several legacy carmakers face potential European Union fines as their shift to electric vehicles (EVs) has ...
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Private donors gave more than $125M to keep foreign aid programs going after US cuts

NEW YORK (AP) — When the Trump administration froze foreign assistance overnight, urgent efforts began to figure out how to continue critical aid programs that could be funded by private donors. Multiple groups launched fundraisers in February and eventually, these emergency funds mobilized more ...
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