Musk’s X hires former Tubi executive Banki as CFO
(Reuters) -Elon Musk’s X Corp has tapped former Tubi executive Mahmoud Reza Banki as chief financial officer, in one of the social media platform’s biggest hires as its billionaire owner…
Economy
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U.S. October budget deficit jumps to $257 billion, handing hole to Trump
WASHINGTON (Reuters) – The U.S. budget deficit jumped nearly four-fold to $257 billion in October, a figure inflated by several one-off factors, the Treasury Department said on Wednesday but starting…
Fed’s Schmid: extent of further rate cuts ‘remains to be seen’
(Reuters) – Kansas City Federal Reserve Bank President Jeffrey Schmid on Wednesday said the U.S. central bank’s interest-rate cuts to date acknowledge its growing confidence that inflation is headed down,…
D.E. Shaw takes $1 billion short bet on Bayer, regulatory filing shows
By Nell Mackenzie and Ludwig Burger LONDON/FRANKFURT (Reuters) -Hedge fund D.E. Shaw took a 1.02 billion euro ($1.08 billion) short bet against Bayer (OTC:BAYRY) on Tuesday, a regulatory filing in…
Russia’s 2024 inflation to exceed government’s forecast after weekly jump
MOSCOW (Reuters) – Russian consumer prices jumped by 0.3% in the latest week, bringing the headline number to 7% since January, close to the official government forecast of 7.3% for…
Small-cap stocks face delicate balance between Trump boost and inflation risks
By Lisa Pauline Mattackal (Reuters) – U.S. small-cap stocks have surged to near record highs following Donald Trump’s presidential election win, but some investors are wary of chasing the rally…
NY Fed says household debt up in third quarter as rising incomes ease debt burden
By Michael S. Derby NEW YORK (Reuters) – Rising income levels helped Americans manage their expanding debt loads during the third quarter, even as some signs of stress mounted, the…
Fed should proceed ‘with caution’ on rate cuts, Logan says
(Reuters) – The U.S. central bank should proceed cautiously on further interest rate cuts to keep from inadvertently reigniting inflation, Dallas Federal Reserve President Lorie Logan said on Wednesday. After…
TSX opens higher as US data reinforces Fed rate cut hopes
(Reuters) – Canada’s main stock index opened higher on Wednesday, helped by energy shares, after the U.S. inflation data reinforced expectations for a Federal Reserve interest-rate cut next month. At…
Why is the euro falling and could it hit $1?
LONDON (Reuters) – The euro has fallen to one-year lows, reviving talk the currency could hit the $1 mark. Donald Trump’s U.S. election win raises the prospect of a hike…