By Saeed Azhar and Mehnaz Yasmin NEW YORK (Reuters) -Bank of America shares on Tuesday fell more than 3% after its first-quarter profits shrank and the bank set aside more money to cover souring loans from consumers whose finances are worsening. U.S. lenders have cited resilient household finances as evidence that the economy remains on […]

By Stephen Culp NEW YORK (Reuters) -Wall Street ended sharply lower on Monday amid rising U.S. Treasury yields as simmering tensions in the Middle East helped curb investor risk appetite. The three major U.S. stock indexes reversed initial gains to extend Friday’s sell-off, while the yen fell to its lowest level in 34 years, reviving […]

By Lawrence Delevingne and Douglas Gillison WASHINGTON (Reuters) – A second Trump White House would seek to sharply reduce the power of U.S. financial regulators, according to a review of public documents and interviews with people allied with the former president. In the wake of the worst economic crisis since the Great Depression, Congress dramatically […]

By Andrea Shalal WASHINGTON (Reuters) -A top U.S. Treasury official on Thursday called out emerging official creditors – the biggest of which is China – for curtailing loans to countries that had already embarked on a program with the IMF or multilateral development banks. “When the IMF and MDBs support countries’ reforms and investment plans, […]

(Reuters) -Macy’s ended a nearly two-months long proxy contest with Arkhouse Management by adding two of the activist investor’s nominees to its board, the U.S department store chain said on Wednesday. The retailer also said it continues to engage with Arkhouse and Brigade Capital Management over their revised buyout proposal. In March, Arkhouse and Brigade […]

By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -Citigroup investors have rewarded CEO Jane Fraser with a share price boost after Fraser announced a sweeping overhaul of Citi’s sprawling structure in September, cutting costs by laying off 5,000 employees. Next, they want to see growth in wealth management and investment banking. Wall Street investors […]

By David Lawder BEIJING (Reuters) -U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity. Yellen told a press conference that U.S. President Joe […]

By Bhanvi Satija and Sriparna Roy (Reuters) -Johnson & Johnson on Friday agreed to buy Shockwave Medical in a deal valued at $13.1 billion including debt, as it builds its cardiac-health-centric medical devices business to help drive growth. J&J has offered $335 per share in cash that values the equity portion at $12.5 billion, based […]

By Juveria Tabassum (Reuters) -Conagra Brands beat Wall Street estimates for third-quarter revenue and profit on Thursday, buoyed by a rebound in demand for its pantry staples and frozen food items from more consumers cooking meals at home in the face of sticky inflation. Shares of the Slim Jim beef jerky maker rose 5% after […]