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PIMCO sees rate cuts leading next market rescue amid fiscal constraints

By Davide Barbuscia NEW YORK (Reuters) -Efforts to battle future economic downturns are likely to lean more on central banks slashing interest rates than on fiscal lifelines, as high global public debt in developed markets limits governments’ ability to spend, said U.S. bond giant PIMCO. In ...
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Exclusive-Wells Fargo hires Paterson from Citi for activism defense

By Svea Herbst-Bayliss NEW YORK (Reuters) -Wells Fargo has hired a senior banker from Citigroup to lead its activism defense practice, as corporations scramble to build out business units to help clients facing pressure from activist investors. The bank confirmed to Reuters that it is bringing ...
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Fed unveils proposal to ease bank leverage requirements

By Pete Schroeder WASHINGTON (Reuters) -The Federal Reserve unveiled a proposal on Wednesday that would overhaul how much capital large global banks must hold against relatively low-risk assets, as part of a bid to boost participation in U.S. Treasury markets. The proposal unveiled by the Fed ...
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The stock market is surging. Will it last?

(NEW YORK) -- The stock market has been on a tear in recent weeks, shrugging off newly imposed tariffs, caution at the Federal Reserve and war in the Middle East.The S&P 500 has soared 20% since an April low suffered after President Donald Trump’s ...
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Getty drops copyright allegations in UK lawsuit against Stability AI

LONDON (AP) — Getty Images dropped copyright infringement allegations from its lawsuit against artificial intelligence company Stability AI as closing arguments began Wednesday in the landmark case at Britain’s High Court. Seattle-based Getty’s decision to abandon the copyright claim removes a key part of ...
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Bipartisan bill seeks to ban Chinese AI from federal agencies, as U.S. vows to win the AI race

WASHINGTON (AP) — A bipartisan group of lawmakers on Wednesday vowed to keep Chinese artificial intelligence systems out of federal agencies while pledging to ensure the U.S. will prevail against China in the global AI competition. “We are in a new Cold War, and AI ...
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Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. On the second day of his ...
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New York banks, REITs fall as Mamdani’s mayoral lead stokes rent freeze worries

By Arasu Kannagi Basil (Reuters) -Shares of several New York-based banks and real estate investment trusts fell on Wednesday as Zohran Mamdani’s lead in New York City’s Democratic mayoral primary stoked concerns that his proposed rent freeze could pressure building owners. On the campaign trail, Mamdani, ...
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Two investment banks seek freedom from US SEC analyst research settlement

By Jonathan Stempel NEW YORK (Reuters) -Piper Sandler and Stifel Financial on Wednesday asked a judge to free them from “onerous” restrictions from the U.S. Securities and Exchange Commission’s global settlement more than two decades ago with 12 investment banks over analyst conflicts. The $1.5 billion ...
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Foxconn nears deal to supply electric buses to Mitsubishi Fuso, Nikkei reports

(Reuters) -Foxconn is nearing a deal to supply electric buses to Japanese commercial automaker Mitsubishi Fuso Truck and Bus, Japan’s Nikkei newspaper reported on Thursday, citing a source close to the Taiwanese chipmaker. Mitsubishi Fuso, owned by Daimler Truck, plans to sell the Model ...
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Shell says ‘no talks are taking place’ after WSJ reports BP takeover discussions

LONDON (Reuters) -Shell said on Wednesday that “no talks are taking place” after a Wall Street Journal article cited unnamed sources saying Shell was in early discussions to take over rival BP. “This is further market speculation,” a Shell spokesperson said. “As we have said ...
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Exclusive-Ford calls majority of workforce into the office four days a week

By Nora Eckert DETROIT (Reuters) -Ford Motor is calling the majority of its salaried workforce back to the office four days a week, the automaker’s latest effort to boost employee and company performance. “Many of our employees have been in the office three or more days ...
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