By Lewis Krauskopf NEW YORK (Reuters) – Some U.S. investors are looking abroad to capture better stock returns in the coming months, betting European and other international stocks hold more enticing valuations after a long period of U.S. dominance. U.S. stocks have rebounded to start the year after a rough 2022, but still have lagged …
By Niket Nishant and Saeed Azhar (Reuters) -JPMorgan Chase & Co, the biggest lender in the United States, said on Friday it set aside $1.4 billion in anticipation of a mild recession, even as it beat forecasts for quarterly profit on the back of a strong performance at its trading unit. JPMorgan and other banks …
JPMorgan beats profit estimates, sees mild recession Read More »
By Richard Cowan WASHINGTON (Reuters) – President Joe Biden is set to deliver his annual State of the Union address to the U.S. Congress on Feb. 7, venturing into the House of Representatives chamber following its takeover by Republicans who have vowed to challenge his legislative agenda and mount multiple investigations of him and his …
Biden set to deliver annual State of Union address on Feb. 7 Read More »
By Richard Cowan and Moira Warburton WASHINGTON (Reuters) – U.S. Representative George Santos said on Thursday he would vacate his seat only if he loses the next election, clarifying an earlier statement that he would resign if “142 people” asked him to because of a string of false claims he made about his work and …
U.S. Rep. Santos says he won’t resign, only leave if voted out in next election Read More »
By Mehnaz Yasmin and Carolina Mandl (Reuters) – Citigroup Inc reported a 21% fall in quarterly profit on Friday, missing forecasts, as the bank increased provisions to prepare for a worsening economy and investment banking revenue declined due to a sharp drop in dealmaking activity. Fears of a potential recession prompted Citi to add $640 …
Citigroup misses profit estimates on provision hike, dealmaking slowdown Read More »
WASHINGTON (Reuters) – The White House said on Friday it will not negotiate over the debt ceiling and there are no discussions underway about eliminating it. White House spokesperson Karine Jean-Pierre told reporters Congress must act to increase the debt ceiling after U.S. Treasury Secretary Janet Yellen said the country will likely hit the $31.4 …
White House says it will not negotiate over the debt ceiling Read More »
By Kanishka Singh WASHINGTON (Reuters) – Robert Hur, who was named special counsel to investigate whether President Joe Biden had improperly handled sensitive government documents, is a former high-ranking Justice Department official with experience in sensitive leak investigations. Tapped for the role by U.S. Attorney General Merrick Garland on Thursday, Hur was the U.S. attorney …
Who is Robert Hur, special counsel on Biden classified document probe? Read More »
By Manya Saini and Lananh Nguyen (Reuters) -Bank of America Corp reported a bigger-than-expected fourth-quarter profit on Friday, helped by a surge in net interest income as the U.S. Federal Reserve raised rates through most of last year. The ‘higher-for-longer’ rate environment to battle decades-high inflation has underpinned profits at consumer banks, with analysts expecting …
Bank of America profit tops estimates as higher rates boost income Read More »
(Reuters) – Tesla Inc has slashed prices of its electric vehicles in the United States and Europe, doubling down on a discount drive it started in Asia as demand slows against the backdrop of a weakening economy. The Elon Musk-led company missed its target in 2022 to grow deliveries by 50% annually and reported that …
Factbox-Tesla cuts prices globally in a bid to spur demand Read More »
(Reuters) – The fast-spreading Omicron subvariant XBB.1.5 is estimated to account for 43% of the COVID-19 cases in the United States for the week ended Jan. 14, data from the Centers for Disease Control and Prevention showed on Friday. The subvariant accounted for about 30% of cases in the first week of January, higher than …
Omicron subvariant XBB.1.5 accounts for 43% of U.S. COVID cases – CDC Read More »
