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Powell says the Fed will not hesitate to keep raising rates until inflation comes down

Powell says the Fed will not hesitate to keep raising rates until inflation comes down

US Federal Reserve Chairman, Jerome Powell, testifies before the House Financial Services Committee on “The Semiannual Monetary Policy Report to the Congress,” in Washington, DC, on March 3, 2022. Jonathan Ernest | AFP | Getty Images Federal Reserve Chairman Jerome Powell emphasized his resolve to get inflation down, saying Tuesday he will back interest rate …

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Allianz to pay $6 bln in US fraud case, fund managers charged

Allianz to pay $6 bln in US fraud case, fund managers charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and …

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Shares rebound, Treasury yields rise on stronger data

Shares rebound, Treasury yields rise on stronger data

Blank prices are displayed in the stock quotation boards at the Tokyo Stock Exchange (TSE) after the TSE temporarily suspended all trading due to system problems in Tokyo, Japan October 1, 2020. REUTERS/Issei Kato/Files Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 17 (Reuters) – A gauge of global equity markets …

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Stocks jump ahead of Powell remarks as markets attempt comeback

Stocks jump ahead of Powell remarks as markets attempt comeback

US stocks charged forward Tuesday as the indexes attempt to swing back from intense selling last week amid worries around persistent levels of inflation and the prospect of an economic slowdown. Investors are bracing for more Fedspeak this afternoon, with central bank chief Jerome Powell scheduled to give remarks at a conference hosted by the …

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FDA and Abbott Reach Agreement on Baby Formula to Try to Ease Shortage

FDA and Abbott Reach Agreement on Baby Formula to Try to Ease Shortage

The Food and Drug Administration on Monday reached an agreement with Abbott Laboratories on the steps needed to reopen the company’s shuttered baby formula plant, which could begin to ease the shortage of infant formula that has frightened and exasperated parents nationwide. The FDA said it expected Abbott to restart production in about two weeks, …

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Dow Jones Rallies As Treasury Yields Extend Gains;  Twitter Falls After Poison Pill

Dow Jones Futures Jump As Stock Market Rally Attempt Continues; Musk-Twitter Deal Still Happening?

Dow Jones futures were higher late Monday, as the stock market rally attempt continues. Elon Musk and Twitter continue to engage in debate over the number of fake accounts on the social media site. Looking ahead, Home Depot and Walmart earnings are due out ahead of Tuesday’s market open. And Fed Chair Jerome Powell will …

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Elon Musk says Twitter deal can't happen until bot dispute is resolved

Elon Musk says Twitter deal can’t happen until bot dispute is resolved

Without citing a source, Musk claimed in tweeted that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading. The company has said that less than 5% of its daily active users are spam accounts. “My offer was based on Twitter’s SEC filings being accurate,” Musk tweeted. “Yesterday, …

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Twitter CEO says two leaders to depart, hiring paused amid Musk takeover

Musk seeks proof on share of spam bot on Twitter for deal to progress

May 17 (Reuters) – Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc (TWTR.N) shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based on Twitter’s SEC filings …

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Twitter War Escalates Between Biden White House And Jeff Bezos – Deadline

Twitter War Escalates Between Biden White House And Jeff Bezos – Deadline

The White House responded for at least the second time in as many days today to tweets from Amazon founder Jeff Bezos in a war of words over, well — the parties also argued over what the argument was about. Bezos tweeted this morning that “the administration tried their best to add another $3.5 TRILLION …

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The best places to live in the US in 2022-2023: A new city is crowned

The best places to live in the US in 2022-2023: A new city is crowned

Marcus & Millichap CEO Hessam Nadji argues the drastic spike in housing prices is ‘not sustainable.’ Americans are shifting their priorities when it comes to where they want to call home amid sky-high housing prices, and that revelation played a role in a Southern city dethroning a Rocky Mountain destination as the top spot in …

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