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View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. The comments are the first by the company on the future of the Cobre Panama mine's ownership since Tuesday's court ruling. Panama has seen unprecedented public protests after the government signed a new contract with First Quantum for its Cobre Panama mine. MacWilliam told the conference that given the events in Panama, it remains unclear when Cobre Panama will be able to resume operations. The mine closure also has consequences for the Central American nation, as Cobre Panama contributes about 5% to Panama's economy.

Persons: Laurentino Cortizo, Ryan MacWilliam, MacWilliam, Divya Rajagopal, Elida Moreno, Denny Thomas, Chizu Nomiyama, Nick Zieminski Organizations: Minerals, REUTERS, Aris, Rights TORONTO, Quantum, Scotiabank, Reuters, Jiangxi Copper Co, Central, Thomson Locations: Panama, Donoso, Canadian, Jiangxi, Central American, Lincoln

Cobre Panama has said it is committed to growing more new forest than is impacted by its mine. "We aren't going anywhere," Sabino Ayarza, a representative of the protesting fishermen, told Reuters on Tuesday from his boat. Their grassroots movement, nearly unheard of in business-friendly Panama, has wiped C$11 billion ($7.4 billion) off First Quantum's market value and raised global copper prices on supply worries. The protesters' victory in Panama is emblematic of the outsized and sometimes unexpected influence local communities are having on mining companies worldwide. Cobre Panama accounted for about 46% of First Quantum's overall revenue in the third quarter, according to company data.

Persons: Aris Martinez, Sabino Ayarza, Ayarza, Codelco, Valentine Hilaire, Divya Rajagopal, Fabian Cambero, Christian Plumb, Denny Thomas, Nick Zieminski Organizations: REUTERS, Aris, PANAMA CITY, Minerals, Reuters, Panamanian, Tuesday, Scotiabank, Protesters, First, Thomson Locations: Panama City, Panama, PANAMA, TORONTO, Portugal, Peru, Chile, Macquarie, Mexico City, Toronto, Santiago

Escalating a months-long investigation across three congressional committees, the Republican-controlled House of Representatives launched an impeachment inquiry into Biden in September, which focuses on Hunter Biden's business dealings. House Republicans allege Biden and his family improperly traded access to Biden's office as vice president in President Barack Obama's administration. Comer said in a statement that the subpoena required Hunter Biden to appear for a deposition on Dec. 13, but added that he should also have a chance to testify publicly at another time. "Hunter Biden is trying to play by his own rules instead of following the rules required of everyone else. Special Counsel David Weiss brought those charges against Hunter Biden after an earlier proposed plea deal unraveled under questioning from a judge.

Persons: Joe Biden's, Hunter Biden, Evelyn Hockstein, Hunter, Biden, Barack Obama's, Hunter Biden's, Abbe Lowell, James Comer, Comer, Donald Trump, David Weiss, Weiss, Makini Brice, Susan Heavey, Scott Malone, Nick Zieminski Organizations: REUTERS, Rights, Republican, Democratic, Representatives, Biden, Republicans, White, House Republicans, Office, Senate, Trump, Justice, Thomson Locations: Wilmington , Delaware, U.S

Nov 28 (Reuters) - Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights. The estimate projects U.S. shoppers will spend $12 billion-$12.4 billion on Cyber Monday, the biggest U.S. online shopping day. At the top end, this would represent an 9.7% increase compared to the $11.3 billion spent on Cyber Monday last year. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. On Monday, Walmart stepped up discounts on some clothing to 60%, up from the 50% it offered on Black Friday.

Persons: Barbie, Nancy Tengler, Eduardo Munoz, Matthew Katz, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis, Lincoln Organizations: Adobe Digital, Retailers, Adobe Analytics, Investments, Shoppers, Workers, REUTERS, SSA & Company, Walmart, Sizemore Capital Management, Target, Graphics, Insider Intelligence, Thomson Locations: Scottsdale , Arizona, United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

[1/4] Employees work in the manufacturing of Pfizer’s new respiratory syncytial virus (RSV) vaccine Abrysvo, in this undated handout picture. Pfizer/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Nov 28 (Reuters) - Senior Biden administration officials met with RSV vaccine makers this week to underscore the need for manufacturers such as Sanofi (SASY.PA) and AstraZeneca (AZN.L) to urgently meet demand as winter approaches, the White House said on Tuesday. At a meeting at the White House on Monday, officials and manufacturers also agreed to plan now to meet next year's demand for the vaccines targeting respiratory syncytial virus, which generally causes mild, cold-like symptoms but can develop into severe illness in infants and older adults. "Monday's meeting follows numerous in-person and virtual meetings to seek ways manufacturers can make more RSV immunizations available for infants," the White House said in a statement. Reporting by Susan Heavey and Ahmed Aboulenein; Additional reporting by Mike Erman; Editing by Katharine Jackson and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Susan Heavey, Ahmed Aboulenein, Mike Erman, Katharine Jackson, Nick Zieminski Organizations: Pfizer, Handout, REUTERS Acquire, Rights, Biden, Sanofi, AstraZeneca, White, U.S . Centers for Disease Control, Prevention, CDC, Thomson Locations: U.S

☆ Disney CEO Bob Iger says company is ready to start building
▼ + stars: | 2023-11-28 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

The Walt Disney Company CEO Bob Iger attends the Nominees Luncheon for the 95th Oscars in Beverly Hills, California, U.S. February 13, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 28 (Reuters) - Walt Disney (DIS.N) CEO Bob Iger told employees that he faced a "myriad of challenges" upon returning to the company but remained upbeat about its prospects. "I feel that we’ve just emerged from a period of a lot of fixing to one of building again," Iger said. The meeting marks the one-year anniversary of Iger's first town hall since rejoining the company as chief executive in November 2022. Disney has undergone a transformation under Iger, who restructured the company and streamlined operations to make the business more cost effective.

Persons: Bob Iger, Mario Anzuoni, Walt Disney, “, ” Iger, I've, Iger, Alan Bergman, Dana Walden, Jimmy Pitaro, Josh D’Amaro, Nelson Peltz, Bob Chapek, Scarlett Johansson, Florida Governor Ron DeSantis, Disney, Dawn Chmielewski, Nick Zieminski Organizations: Walt Disney Company, REUTERS, New Amsterdam Theatre, Disney Entertainment, ESPN, Walt, New York Times, Disney, Florida Governor, Thomson Locations: Beverly Hills , California, U.S, Iger's, Burbank , California, New York

Spending online on Cyber Monday is set to reach as much as $12.4 billion, according to Adobe Digital Insights, which tracks data through Adobe's Experience Cloud service for e-commerce platforms. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m. EST alone, it said. Other firms use different measurements to gauge purchases on Cyber Monday, the biggest online shopping day of the year in the United States. Salesforce, which tracks data flowing through its Commerce Cloud e-commerce service, said online sales on Cyber Monday were up by 4% by 4 p.m. EST, hitting $7 billion by late afternoon. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Salesforce, Eduardo Munoz, Brian Yacktman, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: Adobe Digital, Adobe, Commerce, Shoppers, Workers, REUTERS, YCG Investments, Nike, Black, Sizemore Capital Management, Walmart, Amazon, Graphics, Insider Intelligence, Thomson Locations: United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

REUTERS/Lori Shepler/File Photo Acquire Licensing RightsNov 27 (Reuters) - U.S. bond giant Pacific Investment Management Company (PIMCO) said on Monday it expects the next few years to provide the best opportunities for private credit investors since the global financial crisis. "As private credit investors, this is the environment we’ve been waiting for," portfolio managers at PIMCO said in a note. In particular, PIMCO expects the lower liquidity environment to create opportunities for private credit investors in specialty finance - collateral-based loans to consumers and small businesses - as well as in senior corporate loans and commercial real estate. Within specialty finance, the asset manager singled out residential mortgage credit, solar and home improvement lending, equipment finance and aircraft leasing. PIMCO said it expects opportunities for private credit to provide such financing not just directly to borrowers, but also to banks and non-bank lenders.

Persons: Lori Shepler, PIMCO, Matt Tracy, Davide Barbuscia, Nick Zieminski Organizations: REUTERS, Pacific Investment Management Company, Thomson Locations: Newport Beach , California

☆ Deal-hunters fuel $12 billion Cyber Monday shopping spree
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Eduardo Munoz Acquire Licensing RightsNov 27 (Reuters) - After a busy holiday shopping weekend, discount seekers are expected to spend between a record $12 billion and $12.4 billion on beauty products, electronics, toys and apparel on Cyber Monday, according to Adobe Analytics. Heavy online traffic and transactions could add up to a boost in sales by U.S. shoppers of 5.4% or more, according to Adobe. Shoppers spent $10.3 billion in the weekend leading up to Cyber Monday, up 7.7% from last year as retailers offered more discounts compared to last year. More merchandise was being discounted in the weekend leading up to Cyber Monday, according to a report from LSEG. Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, TJ Maxx, Jharonne Martis, LSEG, Rob Garf, Garf, Vanessa O'Connell, Deborah Sophia, Arriana, David Gregorio, Nick Zieminski Organizations: Workers, REUTERS, Adobe Analytics, U.S, Adobe, Shoppers, Adobe Digital, Walmart, Reuters, Costco, Commerce, Insider Intelligence, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce, Ross

These deals help banks meet capital requirements more efficiently, allowing them to keep lucrative businesses that would otherwise become unprofitable. Investors in these deals include lightly-regulated entities like hedge funds, shifting risk to the shadow banking sector. Credit risk transfer is another tool for them to pursue after the Fed’s clarification on what is allowed, said Cory Wishengrad, head of fixed income at Guggenheim Securities. That means Merchants sold the riskiest tranche of the loan portfolio, maximizing the capital relief it could get on it. Whether U.S. regulators will allow such insurance deals to qualify for capital relief is still untested, Staudinger said.

Persons: Morgan Stanley, Blackstone, Jill Cetina, Jon, Claude Zucconi, Zucconi, Michael Barr, Barr, Banks, Missy Dolski, Sam Graziano, Graziano, Cory Wishengrad, Jed Miller, Taft, Morgan Stanley's, Morgan, Deborah Staudinger, Hogan Lovells, Staudinger, Shankar Ramakrishnan, Paritosh Bansal, Nick Zieminski Organizations: Blackstone Group, JPMorgan Chase, Merchants Bank of Indiana, US Bancorp, Investors, JPMorgan, Merchants Bank, Federal Reserve, Varde Partners, Financial, Guggenheim Securities, U.S . Bank, Fed, Reuters, Merchants, Thomson Locations: U.S, Wickersham, Europe, Indiana

[1/6] People load up their newly purchased items from Best Buy on Black Friday in Wheaton-Glenmont, Maryland, U.S., November 24, 2023. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. But at 6 a.m. on Friday at a Walmart in New Milford, Connecticut, the parking lot was only half full. "It's a lot quieter this year, a lot quieter," said shopper Theresa Forsberg, who visits the same five stores with her family at dawn every Black Friday. And the rise of online shopping has reduced the importance of Black Friday as a single-day event.

Persons: Leah Millis, Cowen, David Klink, Theresa Forsberg, Michael Brown, Kearney, Jeff Gennette, Jimmy Lee, there's, Bergdorf Goodman, Nordstrom, Oscar de, Carlos Araejo, Ruiz, It’s, ”, Paul Aheren, Puma, Siddharth Cavale, Helen Reid, Arriana McLymore, Katherine Masters, Andrew Hay, Bianca Flowers, Danielle Broadway, James Davey, Deborah Sophia, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: REUTERS, Shoppers, Huntington Private Bank, Walmart, Target, National Retail Federation, Garden, Insider Intelligence, Macy's, Adobe Analytics, Wealth Consulting, Amazon, Adobe, Nordstrom, “, Saks, Puma, Israel Football Association, IFA, Thomson Locations: Wheaton, Glenmont , Maryland, U.S, RALEIGH, N.C, New Milford , Connecticut, Paramus , New Jersey, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

☆ Amazon hit by strikes, protests across Europe during Black Friday
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +4 min

In England, more than 200 workers were striking on Friday at Amazon's warehouse in Coventry as part of a long-running dispute over pay. The striking workers were chanting their demand for a pay rise to 15 pounds ($18.69) an hour. [1/4]People hold a banner during a Black Friday strike outside the Amazon warehouse, in Coventry, Britain November 24, 2023. Spanish union CCOO called for Amazon warehouse and delivery workers to stage a one-hour strike on each shift on "Cyber Monday" next week. Amazon has remained popular in Europe even as rivals like Shein and Temu have seen rapid growth.

Persons: Amazon's, Verdi, Nick Henderson, Phil Noble, Amazon, CGIL, CCOO, Helen Reid, James Davey, Matthias Inverardi, Elisa Anzolin, Corina Pons, Nick Zieminski, Jason Neely Organizations: UNI Global Union, U.S, Amazon, REUTERS, Reuters Graphics, Thomson Locations: Europe, U.S, Germany, Rheinberg, Leipzig, England, Amazon's, Coventry, Britain, Italy, Castel San Giovanni, Spanish, France, London, Dusseldorf, Milan, Madrid

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. But at 6 a.m. on Friday at a Walmart in New Milford, Connecticut, the parking lot was only half full. "It's a lot quieter this year, a lot quieter," said shopper Theresa Forsberg, who visits the same five stores with her family at dawn every Black Friday. The rise of online shopping has reduced the importance of Black Friday as a single-day event.

Persons: Cowen, David Klink, ”, Barbara Kahn, Theresa Forsberg, Michael Brown, Kearney, Jimmy Lee, Leah Millis, there's, Jeff Gennette, Bergdorf Goodman, Nordstrom, Oscar de, Carlos Araejo, Ruiz, It’s, Paul Aheren, Puma, Siddharth Cavale, Helen Reid, Arriana McLymore, Katherine Masters, Andrew Hay, Bianca Flowers, Danielle Broadway, James Davey, Deborah Sophia, Miral Fahmy, Nick Zieminski, Frances Kerry, Leslie Adler Organizations: Shoppers, Huntington Private Bank, Walmart, Target, Ross Stores, The Wharton School, University of Pennsylvania, “, National Retail Federation, Garden, Insider Intelligence, Adobe Analytics, Adobe, Wealth Consulting, Amazon, REUTERS, Nordstrom, Saks, Protesters, Puma, Israel Football Association, Thomson Locations: RALEIGH, N.C, U.S, New Milford , Connecticut, Paramus , New Jersey, Wheaton, Glenmont , Maryland, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston

Shein's website drew 28.6 million unique monthly visitors in October, up 7.25% from a year earlier, according to Similarweb. Amazon trounces both online retailers with 56% of its 268 million unique monthly visits in October resulting in purchases, its data shows. Temu, which launched in the U.S. in September 2022, is offering deals for cheap goods for the holiday shopping season. Shein is ramping up holiday marketing in the U.S. and Europe as it extends its reach and products on its platform. Peter Pernot-Day, head of corporate strategy at Shein, said Shein has advised its marketplace sellers "to optimize their product listings" by "providing competitive pricing and keeping inventory up to date."

Persons: David, Dee, Delgado, Temu, Shein, Inditex's Zara, Melissa Minkow, Peter Pernot, Arriana McLymore, Nick Zieminski Organizations: REUTERS, Missguided, CI, Thomson Locations: New York City, U.S, Singapore, Europe, Similarweb, New York

Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. Citigroup declined to comment on all the personnel moves, and none of the leaders named responded to requests for comment. The full reorganization could involve thousands of layoffs, according to a source familiar with the situation who was not authorized to speak publicly. Preparations for Monday's announcements were communicated verbally in meetings last week, according to another source familiar with the situation. Final announcements related to the overhaul will be made early next year, Fraser said in a memo to employees.

Persons: Jane Fraser, Eduardo Martinez Campos, Andy Sieg, Andrew Kelly, Valentin Valderrabano, Patricia Dorosz, Nacho Gutiérrez, Carmen Haddad, Fahad Aldeweesh, Haddad, Jose Miguel Salvador Nasur, Peter Babej, Ernesto Torres Cantú, Brad Wayman, Chris McCullough, Wayman, Patrick Gallagher, Lucy Baldwin, Sandeep Arora, Fraser, Mark Mason, Tatiana Bautzer, Lananh Nguyen, Andres Gonzalez, Saeed Azhar, Bayliss, Echo Wang, Isla Binnie, Nick Zieminski, Stephen Coates, Marguerita Choy Organizations: Citigroup, Citi, Citi Wealth Services, Citibank, New York Stock Exchange, REUTERS, Svea Herbst, Thomson Locations: Manhattan , New York City, U.S, Europe, Saudi Arabia, Chile, New York, London, Svea

The group usually has one active case against financial regulators, but currently has two against the Securities and Exchange Commission (SEC) and one against the Consumer Financial Protection Bureau (CFPB), he said. To be sure, the financial regulators have been sued many times during previous administrations, including by pro-reform advocacy groups. "There are some financial regulators that are walking right into it," he added. In September, for example, bank groups accused regulators including the Federal Reserve of violating the APA with a new capital rule. According to research by Wharton School professor David Zaring, neither industry groups nor individual lenders have filed more than one suit over the past decade challenging Fed policymaking.

Persons: Jim Bourg, Gibson, Dunn, Crutcher, Joe Biden's, Donald Trump's, Tom Quaadman, Jack Inglis, CFPB, Dennis Kelleher, Trump, Eugene Scalia, Gibson Dunn, Scalia, Antonin Scalia, Rebeca Romero Rainey, David Zaring, Kelleher, Douglas Gillison, Chris Prentice, Pete Schroeder, Nate Raymond, Jody Godoy, Megan Davies, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, WASHINGTON, Democratic, Republican, Reuters, APA, U.S . Chamber of Commerce, Securities and Exchange Commission, Consumer Financial Protection Bureau, Funds, Alternative Investment Management Association, Fifth Circuit, Appeals, Better Markets, Biden, American Bankers Association, Labor, Supreme, Independent Community Bankers of, Federal, Wharton School, Thomson Locations: Washington, Independent Community Bankers of America

☆ Civilian death toll in Ukraine tops 10,000 - U.N. Human Rights Office
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

A worker inspects a site in a residential area damaged during a Russian missile strike, amid Russia’s attack on Ukraine, in Kyiv, Ukraine September 21, 2023. REUERS/Valentyn Ogirenko/File Photo Acquire Licensing RightsGENEVA, Nov 21 (Reuters) - More than 10,000 civilians have been killed in Ukraine since Russia invaded in February 2022, with about half of recent deaths occurring far behind the front lines, the U.N. Human Rights Office said on Tuesday. The U.N. human rights mission in Ukraine, which has dozens of monitors in the country, said it expects the real toll to be "significantly higher" than the official tally since corroboration work is ongoing. "Ten thousand civilian deaths is a grim milestone for Ukraine," said Danielle Bell, who heads the monitoring mission. Older people who may be unable or unwilling to relocate to safer places make up a disproportionate fraction of those killed in Ukraine, the U.N. data showed.

Persons: Valentyn, Danielle Bell, Emma Farge, Andrew Heavens, Bernadette Baum, Nick Zieminski Organizations: Rights, Human Rights, United Nations, Thomson Locations: Russian, Ukraine, Kyiv, Russia, Moscow

☆ Wall St Week Ahead After breathtaking surge, US stocks' path may rest on economic soft landing
▼ + stars: | 2023-11-17 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? The index is now up nearly 18% for the year and less than 2% away from its year-high, reached in July. Analysts at Ned Davis Research, which has been recommending an overweight to stocks, this week said investors should further shift into equities and away from bonds. One source of worry has been a renewed climb in stocks' valuations.

Persons: Brendan McDermid, ”, Yung, Yu Ma, Ned Davis, Ed Clissold, ” Robert Pavlik, Pavlik, Seasonality, LSEG Datastream, Jason Pride, Keith Lerner, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal, BMO Wealth Management, National Association of Active Investment, Reuters Graphics, Treasury, Ned, Ned Davis Research, “, CPI, Dakota Wealth, Nvidia, Advisory Services, Thomson Locations: New York City, U.S

☆ Wall St Week Ahead - After breathtaking surge, U.S. stocks' path may rest on economic soft landing
▼ + stars: | 2023-11-17 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? The index is now up 17% for the year and about 6% from its record closing high from January 2022. Analysts at Ned Davis Research, which has been recommending an overweight to stocks, this week said investors should further shift into equities and away from bonds. One source of worry has been a renewed climb in stocks' valuations.

☆ Stellantis workers vote to ratify new labor contract
▼ + stars: | 2023-11-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsWASHINGTON, Nov 17 - United Auto Workers (UAW) members at Chrysler parent Stellantis NV (STLAM.MI) have voted to ratify tentative record-setting labor deal, the union's vote tracker showed on Friday. The contract also hikes wages of current temporary workers by 150% by 2028 and will make them permanent employees. Workers on Thursday at General Motors (GM.N) voted to approve the deal, with about 55% of nearly 36,000 members in favor. Another 2,500 Stellantis U.S. salaried workers are unionized and are not being offered the current buyout.

Persons: David, Dee, Delgado, Stellantis, David Shepardson, Nathan Gomes, Arun Koyyur, Nick Zieminski, Jonathan Oatis Organizations: New York, REUTERS, Rights, United Auto Workers, UAW, Chrysler, Stellantis, Detroit Three, Workers, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, Washington, Bengaluru

☆ US housing starts rise moderately; tight supply supporting new construction
▼ + stars: | 2023-11-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Single-family housing starts, which account for the bulk of homebuilding, rose 0.2% to a seasonally adjusted annual rate of 970,000 units last month, the Commerce Department's Census Bureau said. Overall housing starts rose 1.9% to a rate of 1.372 million units in October. The number of housing under construction dipped 0.1% to a rate of 1.674 million units. The inventory of single-family housing under construction declined 0.6% to a rate of 669,000 units, the lowest level since May 2021. The stock of multi-family housing under construction edged up 0.1% to 987,000 units, not far from recent record highs.

Persons: Jeffrey Roach, Ben Ayers, Freddie Mac, Bill Adams, Thomas Ryan, Lucia Mutikani, Chizu Nomiyama, Nick Zieminski Organizations: WASHINGTON, Commerce Department, LPL Financial, Commerce, Data, National Association of Home Builders, Nationwide, Federal Reserve, Treasury, Comerica Bank, Reuters, Realtors, Capital Economics, Thomson Locations: Charlotte , North Carolina, homebuilding, Commerce Department's, Northeast, Columbus , Ohio, Dallas, West, South, Midwest

☆ Donald Trump loses bid for mistrial in New York civil fraud case
▼ + stars: | 2023-11-17 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: 1 min

Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. REUTERS/Octavio Jones Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - A New York judge on Friday rejected Donald Trump's bid for a mistrial in New York Attorney General Letitia James' civil fraud lawsuit over his family real estate company's business practices. Justice Arthur Engoron of the New York state court in Manhattan said he could not "in good conscience" let Trump pursue a request that was "utterly without merit." A spokesperson for Trump and his lawyers did not immediately respond to a request for comment. Reporting by Jonathan Stempel and Ismail Shakil; editing by Jasper Ward and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Ted Hendricks, Octavio Jones, Donald Trump's, Letitia James, Arthur Engoron, Trump, Jonathan Stempel, Ismail Shakil, Jasper Ward, Nick Zieminski Organizations: REUTERS, Trump, Thomson Locations: Hialeah , Florida, U.S, York, New, New York, Manhattan

☆ Pressure mounts on FDIC chief amid calls for recusal, congressional probe
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters as Chairman Sheila Bair announces the bank and thrift industry earnings for the fourth quarter 2010, in Washington, February 23, 2011. In a statement, FDIC Vice Chairman Travis Hill and board member Jonathan McKernan said that "at a minimum" Gruenberg and FDIC General Counsel Harrel Pettway should recuse themselves from the internal review of workplace conduct at the agency. "It is clear Mr. Gruenberg never should have been reappointed or confirmed in the first place," McHenry said. McHenry also said Gruenberg had "initially misled" the committee during testimony on Wednesday, at first claiming he had not been the subject of an investigation to his workplace conduct before acknowledging that he had. Reporting by Douglas Gillison; Editing by Chizu Nomiyama and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheila Bair, Jason Reed, Martin Gruenberg, Gruenberg, Travis Hill, Jonathan McKernan, Harrel Pettway, Patrick McHenry, McHenry, Douglas Gillison, Chizu Nomiyama, Nick Zieminski Organizations: Federal Deposit Insurance Corp, REUTERS, Republican, U.S, U.S . Federal Desposit Insurance Corporation, Financial Services, Thomson Locations: Washington, U.S .

☆ Billionaire Asness says he is 'more a bond guy' at this moment
▼ + stars: | 2023-11-16 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Cliff Asness, Co-Founder, Managing Principal and Chief Investment Officer of AQR Capital Management, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - Billionaire quant investor Cliff Asness said on Thursday that he currently favors bonds over equities, given the returns that U.S. Treasuries are offering. "I'm more of a bond than a stock guy at this point," the founder principal of AQR Capital Management said when asked about his asset preferences at a virtual event hosted by Brazilian bank Banco Bradesco. "Bonds are starting to look pretty, pretty reasonable. Asness added he believes U.S. stocks are unlikely to repeat the same valuation growth they posted in the last 30 years.

Persons: Cliff Asness, Lucy Nicholson, Bonds, Asness, Carolina Mandl, Jonathan Oatis, Nick Zieminski Organizations: AQR Capital Management, Milken Institute Global Conference, REUTERS, Banco Bradesco, Treasury, Reserve, Carolina, Thomson Locations: Beverly Hills , California, U.S, Banco Bradesco . U.S, New York

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