Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A “blowout” March retail sales report sparked a sell-off in US government debt and shook global currency markets on Monday, in the latest sign that the world’s largest economy may be running too hot to justify cutting interest rates.US retail sales were much stronger than expected in March, as consumers kept spending despite uncertainty about the future path of interest rates.Data from the US Census Bureau published on Monday showed that retail sales, which include spending on food and petrol, rose 0.7…

House Republicans have lined up a slate of bills targeting Iran and showing support for Israel, but the exact path forward for aid to Israel remains unclear as Congress remains divided over the issue in the wake of Iran’s unprecedented retaliatory strikes on Israel. In the aftermath of the attack, Democrats have called on Speaker Mike Johnson to bring up a Senate-passed foreign aid package that includes aid to Israel and Ukraine, but hardline conservatives have urged Johnson against attaching Ukraine funding to any Israel aid package – a warning that comes as the Louisiana Republican faces the threat of…

Salesforce, Inc. (NYSE:) President and COO, Brian Millham, has recently engaged in significant stock transactions involving the company’s shares, according to a recent SEC filing. On March 22, 2024, Millham sold a total of 14,516 shares of common stock at a price of $309.32 per share, resulting in a transaction value of approximately $4.49 million. Prior to this sale, Millham exercised options to acquire a range of shares at prices between $154.14 and $240.95, amounting to a total transaction value of $3.25 million. The options exercised were part of a prearranged trading plan under Rule 10b5-1, which allows company insiders…

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar advanced on Thursday, boosted by data showing hotter-than-expected producer prices last month and fewer people seeking unemployment claims, which suggested that the Federal Reserve could reduce the number of rate cuts this year. The , which gauges the currency against six major peers, rose in three of the last four sessions. It was last up 0.6% at 103.36. For the week, the index was up 0.6%, on pace for its largest weekly gain since mid-January. Data on Thursday showed the U.S. producer price index for final demand rose 0.6% in February…

(Reuters) -China’s central bank is expected to leave a key policy rate unchanged when it rolls over maturing medium-term loans on Friday, a Reuters survey showed, amid uncertainty over the timing of expected Federal Reserve interest rate cuts. Market watchers widely believe Beijing will continue to prioritise the stability of the yuan, despite widespread views that the struggling economy needs more stimulus. Cutting rates before a move by the Fed or other major central banks would widen yield differentials, potentially putting more pressure on the currency, which has depreciated 1.3% against the dollar so far this year despite persistent central…

The legacy of late California Senator Dianne Feinstein was tarnished by a series of lawsuits filed before her death. The suits revealed rifts in the family and shortcomings in the estate plans of Feinstein and her late husband. Feinstein’s late husband Richard Blum, a wealthy investor, passed away in February 2022. Both Blum and Feinstein were in second marriages, and each had children from their previous marriages. After Blum’s death, the senator suffered several health setbacks before passing away in September 2023. Beginning a few months after Blum passed away, Feinstein’s daughter filed a couple of lawsuits in her role…

First-time homebuyers are likely to face more industry headwinds as mortgage rates and homeownership costs skyrocket in today’s economy. Mitch Roschelle, managing director at Madison Ventures+, said “it couldn’t be a worse time of year” as mortgage rates hit their highest level since November. “The timing is awful,” Roschelle stressed during his appearance on “Varney & Co.” Thursday. “There is a little bit of supply on the market. So, I really feel for those first-time buyers who are hitting the streets right now looking for homes.”While the average 30-year-fixed rate mortgage sits at 7.375%, Roschelle predicts that rates will “likely” increase.…

President Biden just announced his new plan to provide student loan debt relief. When paired with the other cancellations the Biden Administration has provided, this relief would apply to more than 30 million Americans. The President traveled to Madison, Wisconsin to reveal his plans. If implemented, these plans would eliminate accrued interest for 23 million borrowers and would cancel the debt for more than four million borrowers. An additional 10 million borrowers would receive at least $5,000 in debt relief, a slight adjustment to Biden’s original student loan debt cancellation that would have provided $10,000 in forgiveness for many borrowers.…

Chase announced Wednesday it has launched a new media business that allows advertisers to target the bank’s 80 million U.S. customers based on their purchases. The platform, Chase Media Solutions, allows brands to “connect with consumers’ personal passions and interests,” while “customers benefit from personalized offers and the ability to earn cash back with brands they love or are discovering for the first time,” the bank said in a press release. According to The Wall Street Journal, which first reported the news, Chase will only charge merchants for the service whenever a customer makes a purchase through a deal on…

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