Dollar marooned as investors shrug off inflation spike
After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, shrugged it off and moved on – leaving the U.S. dollar under pressure and most majors stuck in ranges.
U.S. trade czar Tai says upbeat on prospects for ‘intense’ trade talks with EU
U.S. Trade Representative Katherine Tai said on Thursday she will accompany President Joe Biden to Brussels next week for “intense negotiations” to try to resolve trade disputes over aircraft subsidies and steel and aluminum.
Analysis: G7 global tax plan may hit corporate titans unevenly
An agreement by wealthy nations aimed at squeezing more tax out of large multinational companies could hit some firms hard while leaving others – including some of the most frequent targets of lawmakers’ ire – relatively unscathed, according to a Reuters analysis.
U.S. House panel approves $547 bln infrastructure boost
A U.S. House committee early on Thursday voted 38 to 26 to authorize $547 billion in additional spending over five years on surface transportation, a plan that would mostly go toward fixing existing U.S. roads and bridges and increase funding for passenger rail and transit.
Artisan fund joins opposition to Universal Music spin-off
U.S. investment fund Artisan Partners on Thursday joined another minority shareholder in French media group Vivendi (VIV.PA) in opposing its spin-off of Universal Music Group (UMG), decrying the transaction as unfavourable to some investors.
U.S. household wealth jumps to record $136.9 trillion, Fed says
U.S. household wealth jumped to a record $136.9 trillion at the end of March, a report from the Federal Reserve showed on Thursday, suggesting plenty of dry tinder for economic growth as the coronavirus pandemic recedes and the nation reopens.
Stocks rally, yields drop as U.S. CPI data calms investors
Global stock markets rallied to new highs and bond yields slid on Thursday after a jump in U.S. inflation was viewed as insufficient to alter the Federal Reserve’s easy monetary policy stance that rising consumer prices will be transitory.
Analysis: Bank of America leaves Wall Street wondering about next CEO
When Brian Moynihan took the reins at Bank of America Corp (BAC.N) in 2010, the U.S. bank was reeling.
EXCLUSIVE Online wholesale marketplace Faire raises $260 mln, valued at $7 bln
Online wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic.
Online trading group CMC plans expansion into wealth management
British online trading group CMC Markets (CMCX.L) on Thursday set out plans to launch a wealth management platform, going head to head with existing players such as Hargreaves (HRGV.L) and AJ Bell (AJBA.L), after reporting a doubling in annual profits.
