By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last[...]
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May 3, 2023
Biden expected to nominate Jefferson as next Federal Reserve vice chair -sources
WASHINGTON (Reuters) -U.S. President Joe Biden is expected to nominate Federal Reserve Governor Philip Jefferson as the next vice chair, two sources familiar with the matter said on Wednesday In addit[...]
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Marathon, APA profits beat on higher oil price, tighter supply
(Reuters) -U.S. shale oil producers Marathon Oil Corp and APA Corp on Wednesday topped Wall Street’s first-quarter profit estimates on strong crude prices and demand. Shares of APA rose 2% in ex[...]
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Ford cuts prices of Mustang Mach-E after Tesla moves
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co is cutting prices on its Mustang Mach-E electric vehicle and reopening orders, the No. 2 U.S. automaker said on Tuesday, the second time has red[...]
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Wall Street ends down on nagging uncertainty about Fed rate path
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended lower on Wednesday, reversing gains after comments by Federal Reserve Chair Jerome Powell left investors wondering what the U.S. c[...]
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Ex-OpenSea manager convicted in NFT insider trading case
By Luc Cohen NEW YORK (Reuters) – A former product manager at non-fungible token (NFT) marketplace OpenSea was convicted on Wednesday of fraud and money laundering for using inside knowledge of[...]
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Qualcomm outlook grim as smartphone sales stay weak
By Chavi Mehta, Jane Lanhee Lee and Stephen Nellis (Reuters) -Qualcomm Inc on Wednesday forecast third-quarter revenue and profit below Wall Street estimates, saying the smartphone industry would take[...]
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Carl Icahn’s empire loses $6 billion in a day after short seller report
By Niket Nishant and David French (Reuters) -Carl Icahn’s empire took another hit on Wednesday when his holding company’s shares plunged further in the aftermath of a critical report from[...]
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PacWest explores strategic options amid stock price plunge -source
By Anirban Sen NEW YORK (Reuters) -PacWest Bancorp is exploring strategic options, including a potential sale or capital raise, after a liquidity boost it announced in March failed to inspire confiden[...]
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