S&P posts 4th straight decline as recession talk weighs on Wall Street

By David French (Reuters) – Wall Street ended lower on Tuesday, with the S&P 500 extending its losing streak to four sessions, as skittish investors fretted over Federal Reserve rate hikes and further talk of a looming recession. Meta Platforms Inc dragged down markets, with its shares sliding 6.8% following reports that European Union regulators […]

Oil prices slump to pre-Ukraine crisis levels on economic jitters

By Shariq Khan NEW YORK (Reuters) -U.S. oil prices fell in frenzied trading on Tuesday to their lowest settlement levels this year, with Brent finishing below $80 per barrel for the second time in 2022, as investors fled the volatile market in an uncertain economy. Brent crude futures fell $3.33, or 4%, to settle at […]

FX swap debt a $80 trillion ‘blind spot’ BIS says

By Marc Jones LONDON (Reuters) – Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market […]

Why U.S. airline pilot wages are outpacing global rises

By Jamie Freed (Reuters) -Delta Air Lines has offered a 34% cumulative pay increase to its pilots over three years in a new contract, in a deal widely expected to become a benchmark for negotiations at rivals United Airlines and American Airlines. But the proposed Delta contract is unlikely to set a global precedent of […]

Crypto broker Genesis owes Gemini’s customers $900 million – FT

(Reuters) -Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins’ crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said, […]

Wall Street hunts for recession plays to weather potential 2023 turbulence

By David Randall NEW YORK (Reuters) -Investors are eyeing everything from the U.S. healthcare sector to UK stocks and gold as potential havens during a recession, as worries grow that the Federal Reserve’s interest rate increases will bring on an economic downturn next year. Gloomy year-ahead forecasts from Wall Street banks have piled up in […]

Reckitt expects U.S. infant formula shortage until spring

By Richa Naidu LONDON (Reuters) -The near year-long infant formula shortage in the United States that prompted the intervention of the White House is likely to “persist” until spring, according to Reckitt Benckiser, the maker of what is now the biggest brand in the market, Enfamil. Panicked parents had earlier this year emptied the baby […]

Rapper Kanye West no longer plans to buy social media platform Parler

By Helen Coster (Reuters) -The parent company of social media platform Parler and American rapper Kanye West, who now goes by Ye, have agreed to terminate the intent of the sale of Parler, according to a statement from Parlement Technologies on Thursday. “This decision was made in the interest of both parties in mid-November,” the […]

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    S&P posts 4th straight decline as recession talk weighs on Wall Street

    December 7, 2022

    By David French (Reuters) – Wall Street ended lower on Tuesday, with the S&P 500 extending its losing streak to four sessions, as skittish investors fretted over Federal Reserve rate hikes and further talk of a looming recession. Meta Platforms Inc dragged down markets, with its shares sliding 6.8% following reports that European Union regulators […]
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