By Pete Schroeder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday warned it was “crucial” that a panel charged with monitoring financial risks be able to continue its work as worries grow President-elect Donald Trump’s administration will again weaken the body. Speaking at Friday’s Financial Stability Oversight Council (FSOC) meeting, the last of…
(Reuters) – Apple is preparing to launch its long-awaited series of cellular modem chips next year, which will replace components from longtime partner Qualcomm, Bloomberg News reported on Friday. The iPhone maker is looking to ultimately overtake Qualcomm’s technology by 2027, the report said, citing people familiar with the matter. Qualcomm, a leading designer of…
(Reuters) – Goldman Sachs is exploring options, including a potential sale, for its ETF Accelerator platform designed to help the bank’s institutional clients launch their own exchange-traded funds, a source familiar with the matter told Reuters on Friday. This platform is separate from the ETF business of Goldman Sachs’ asset management arm, the source said,…
By Siddharth Cavale NEW YORK (Reuters) -Walmart Inc, Amazon.com and fast-growing e-commerce sites Shein and PDD Holding’s Temu saw record-breaking sales on Black Friday and Cyber Monday, according to spending data, suggesting that they may finish the holiday season on a much stronger note than Target and Best Buy, which struggled. Holiday shoppers largely browsed…
(Reuters) – Meta Platforms said on Thursday it has partnered with film director James Cameron’s technology venture Lightstorm Vision to enhance the creation of 3D entertainment, including live sports, concerts and TV series, for the Meta Quest. The Quest headset will be Lightstorm Vision’s exclusive mixed reality hardware platform, the Facebook-parent said. The partnership underscores…
By Andy Sullivan, David Morgan and Richard Cowan WASHINGTON -Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy met on Thursday with Republican lawmakers whose support they will need to win the sweeping spending cuts that President-elect Donald Trump has asked them to find. Trump has named two entrepreneurs to a task force that aims…
(Reuters) -President-elect Donald Trump met with the chief executives of U.S. drugmakers Pfizer and Eli Lilly as well as industry lobbying group PhRMA on Wednesday night, Axios reported on Thursday. Anti-vaccine activist Robert F. Kennedy Jr., Trump’s pick to lead the United States’ top health agency, was also present at the meeting, according to the…
(Reuters) -Dollar General warned on Thursday profit margins would be pressured in the holiday quarter due to higher promotions and discounts as shoppers stuck to buying more essentials like groceries, sending its shares down as much as 5%. A shorter 26-day period between Thanksgiving and Christmas, coupled with frugal consumer spending, has pushed U.S. retailers…
By Fadimata Kontao, Portia Crowe and David Lewis BAMAKO (Reuters) -Mali, one of Africa’s biggest gold producers, has issued an arrest warrant for Barrick Gold Chief Executive Mark Bristow, a warrant document seen on Thursday by Reuters showed, escalating a dispute with the Canadian mining company. The West African country’s junta-led government is seeking more…
MOSCOW (Reuters) – Russian President Vladimir Putin on Wednesday questioned the need to hold state reserves in foreign currencies since they could easily be confiscated for political reasons, saying that domestic investment of such reserves was more attractive. Western countries froze about $300 billion of Russian reserves, accumulated from windfall energy revenues, at the start…
