Reuters USA

Dow closes at another record high as chip stocks, retail data support

By David French (Reuters) -The Dow Jones Industrial Average advanced on Thursday to its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust U.S. consumer and TSMC’s upbeat forecast buoyed chipmakers’ stocks. The other main Wall Street benchmarks were largely unchanged, as the S&P 500 dipped to a …

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As Republicans prepare to contest election, Democrats play defense

By Luc Cohen (Reuters) – Republicans and their allies are preparing to contest the Nov. 5 U.S. presidential election, filing lawsuits state-by-state to challenge potential losses and forcing Democrats into a defensive posture for fear of post-vote chaos. “The 2020 election was free, fair, and secure, and Democrats are making sure that 2024 is the …

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US regional banks capitalize on rising deal fees to counter high deposit costs

By Niket Nishant and Manya Saini (Reuters) – U.S. regional banks’ profits outdid Wall Street expectations in the third quarter as their investment banking fees surged from a revival in dealmaking and helped offset higher deposit costs.  Underwriting and M&A activity picked up pace, taking advantage of a stock market rally and leaning on a …

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White House warns China using overproduction for global dominance

By Andrea Shalal WASHINGTON (Reuters) – The United States will use restrictive tools like tariffs to push back against China’s practice of making far more goods than it needs in order to dominate global markets, White House official Daleep Singh said on Thursday. Singh, deputy national security adviser for international economics, said the Asian giant …

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US FTC probing Deere over customers’ ‘right to repair’ equipment

By Jody Godoy NEW YORK (Reuters) – The U.S. Federal Trade Commission is probing farm equipment maker Deere over the company’s repair policies, according to a filing made public on Thursday. The investigation, authorized on Sept. 2, 2021, focuses on repair restrictions manufacturers place on hardware or software, often referred to by regulators as impeding …

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