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Prime brokerage boom generates big third-quarter windfall for Wall Street banks

By Anirban Sen NEW YORK (Reuters) -Wall Street’s multibillion-dollar prime brokerage machinery is firing on all cylinders.  In the latest quarter, the largest U.S. banks led by JPMorgan Chase, Goldman Sachs, and Bank of America flagged big profits from the booming business of prime brokerage, which ...
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US buys more Argentine pesos, working on $20 billion debt facility, Bessent says

By David Lawder WASHINGTON (Reuters) -The U.S. again purchased Argentine pesos in the open market on Wednesday, Treasury Secretary Scott Bessent told reporters, adding that the department was working with banks and investment funds to create a $20 billion facility to invest in the South ...
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Judge says she’s inclined to block the Trump administration from firing workers during the shutdown

SAN FRANCISCO (AP) — A federal judge said Wednesday she was inclined to block President Donald Trump’s administration for now from firing workers during the government shutdown, saying she believed the evidence would ultimately show they were illegal and in excess of authority. U.S. District ...
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Smucker sues Trader Joe’s, saying its new PB&J sandwiches are too similar to Uncrustables

The J.M. Smucker Co. is suing Trader Joe’s, alleging the grocery chain’s new frozen peanut butter and jelly sandwiches are too similar to Smucker’s Uncrustables in their design and packaging. In the lawsuit, which was filed Monday in federal court in Ohio, Smucker said the ...
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Factbox-Wall Street top banks highlight consumer resilience

(Reuters) -Wall Street’s biggest banks kicked off third-quarter earnings by highlighting the resilience of U.S. consumers and added that credit has shown no cracks so far despite higher rates and economic uncertainty. Large lenders provide a window into consumer health because their lending, credit card ...
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Bessent says he plans to present Fed chief candidates to Trump in December

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent on Wednesday said he plans to present three or four candidates to be the next leader of the Federal Reserve to President Donald Trump for him to interview sometime after the Thanksgiving holiday in late November. Bessent said ...
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Bessent says yen will find its own level if Bank of Japan follows ‘proper’ policy

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said on Wednesday the yen will find its own level if the Bank of Japan follows “proper monetary policy.” Bessent made the remarks to reporters when asked whether the yen’s recent level was reasonable or a bit too ...
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Exclusive-Anthropic aims to nearly triple annualized revenue in 2026, sources say

By Krystal Hu and Deepa Seetharaman (Reuters) -Artificial intelligence startup Anthropic is projecting to more than double and potentially nearly triple its annualized revenue run rate next year, fueled by the rapid adoption of its enterprise products, according to two people familiar with the ...
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Bessent says expects to finalize trade deal with South Korea in next 10 days

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The U.S. is close to finalizing a trade deal with South Korea, Treasury Secretary Scott Bessent said on Wednesday, telling reporters that he expected an announcement in the next 10 days. “We are about to finish up with ...
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US tech startup Anthropic unveils cheaper model to widen AI’s appeal

By Deepa Seetharaman (Reuters) -Artificial intelligence startup Anthropic has overhauled its smallest AI model, Haiku, as companies increasingly opt for AI systems that are nearly as capable as the most advanced tools – but come at a fraction of the cost. Anthropic said on Wednesday ...
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US officials blast China’s actions on rare earths, urge Beijing to back down

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -Top U.S. officials on Wednesday blasted China’s major expansion of rare earth export controls as a threat to global supply chains, but said Beijing could still change course and avoid steps by Washington to decouple from the ...
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US judge set to approve Rio Tinto’s $138.75 million Mongolia mine settlement

NEW YORK (Reuters) -A U.S. judge on Wednesday said he was ready to approve Rio Tinto’s agreement to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the ...
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