Business

Strong US jobs data complicates any Warsh push for lower rates

Friday, May 8 by SRN News

By Michael S. Derby NEW YORK, May 8 (Reuters) - Strong U.S. hiring data in April dealt prospective Federal Reserve Chair Kevin Warsh's hopes of cutting interest rates a setback on Friday, giving officials greater latitude to use monetary policy to tackle increasingly high inflation. The... Read More.

Bank of England’s Bailey sees ‘wrestle’ with US on stablecoin regulation

Friday, May 8 by SRN News

By David Milliken LONDON, May 8 (Reuters) - Bank of England Governor Andrew Bailey said on Friday he expected there to be a "wrestle" between the United States and international regulators on the treatment of stablecoins, a form of cryptocurrency he sees as a potential... Read More.

US consumer sentiment hits record low in early May

Friday, May 8 by SRN News

WASHINGTON, May 8 (Reuters) - U.S. consumer sentiment slumped to a record low in early May as higher gasoline prices weighed on household finances and purchasing power, a survey showed on Friday. The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index fell... Read More.

US stock futures extend gains after April non-farm payrolls data

Friday, May 8 by SRN News

May 8 (Reuters) - U.S. stock index futures extended gains on Friday after a stronger-than-expected jobs report signaled resilience in the labor market and eased concerns about a slowdown in the U.S. economy. A Labor Department report showed the U.S. economy added 115,000 jobs last... Read More.

Porsche AG to cut over 500 jobs as it sharpens focus on core business

Friday, May 8 by SRN News

May 8 (Reuters) - Porsche AG said on Friday that it planned to cut more than 500 jobs as it discontinues three subsidiaries to focus on core business. The company the units Cellforce Group GmbH, Porsche eBike Performance GmbH and Cetitec GmbH would be discontinued. "Porsche... Read More.

Global equity funds draw inflows for the seventh week on earnings optimism

Friday, May 8 by SRN News

May 8 (Reuters) - Global equity funds attracted inflows for a seventh straight week in the period through May 6, supported by upbeat first quarter earnings and hopes for a U.S.-Iran peace agreement. Investors bought a net $4.35 billion of global... Read More.

Private credit roundup: HSBC’s big loss and an FSB warning

Friday, May 8 by SRN News

LONDON, May 8 (Reuters) - HSBC shocked markets with an unexpectedly large $400 million loss linked to a fraud case involving a British mortgage lender this week, turning the spotlight to banks and their deep involvement in the private credit sector. HSBC's loss related to... Read More.

April jobs report shows continued strength

Friday, May 8 by SRN News

NEW YORK, May 8 (Reuters) - U.S. employment increased more than expected in April while the unemployment rate held steady at 4.3%, pointing to labor market resilience and reinforcing expectations that the Federal Reserve would leave interest rates unchanged for some time. Nonfarm payrolls increased... Read More.

Lilly’s obesity pill tops 7,000 prescriptions in fourth week, signals modest uptake

Friday, May 8 by SRN News

By Sneha S K May 8 (Reuters) - Eli Lilly's new weight-loss pill, Foundayo, was prescribed 7,335 times in the U.S. in the fourth week, a modest uptake compared to rival Novo Nordisk's Wegovy pill, analysts said. Wegovy pill, launched in January, has the first-mover advantage... Read More.

US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April

Friday, May 8 by SRN News

WASHINGTON (AP) - America's employers a delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war. Hiring was better than the 65,000 forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained... Read More.

Current Weather

Strong US jobs data complicates any Warsh push for lower rates

Bank of England’s Bailey sees ‘wrestle’ with US on stablecoin regulation

US consumer sentiment hits record low in early May

US stock futures extend gains after April non-farm payrolls data

Porsche AG to cut over 500 jobs as it sharpens focus on core business

Global equity funds draw inflows for the seventh week on earnings optimism

Private credit roundup: HSBC’s big loss and an FSB warning

April jobs report shows continued strength

Lilly’s obesity pill tops 7,000 prescriptions in fourth week, signals modest uptake

US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April

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