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☆ Bank of America says Q3 investment banking fees down 30%-35% for sector
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Sept 11 (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America (BAC.N) will fare better than that average, its chief financial officer said on Monday. "We'll do slightly better than that," Alastair Borthwick told the Barclays Financial Services Conference, referring to investment banking fees for the industry. BofA in July posted strong gains for investment banking in the second quarter with net income surging 76% to $2.7 billion. Reporting by Saeed Azhar and Pritam Biswas; editing by Jonathan Oatis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Alastair Borthwick, BofA, Saeed Azhar, Pritam Biswas, Jonathan Oatis, Deepa Babington Organizations: Bank of America, REUTERS, Investment, Barclays Financial Services, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Fed's Williams: An 'open question' whether Fed will need to hike again
▼ + stars: | 2023-09-07 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/file photo Acquire Licensing RightsNEW YORK, Sept 7 (Reuters) - Federal Reserve Bank of New York President John Williams said on Thursday that it's an "open question" whether monetary policy is restrictive enough to bring the economy back into balance. Williams declined to say whether the Fed should raise rates again. The Fed is to meet on Sept. 19-20. Reporting by Michael S. Derby; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: John Williams, Carlo Allegri, Williams, We’ve, ”, Michael S, Leslie Adler Organizations: Federal Reserve Bank of New, REUTERS, Federal Reserve Bank of New York, Fed, Bloomberg, Thomson Locations: Federal Reserve Bank of New York, New York, U.S

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Barclays (BARC.L), Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), and Mizuho Financial Group (8411.T) are the lead underwriters for the offering. Goldman Sachs, Morgan Stanley and Citigroup are lead underwriters on the offering, the company said in its filing. Its shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "KVYO". Citigroup, Morgan Stanley, UBS, and Bank of America are underwriters of the IPO, according to the filing.

Persons: Carlo Allegri, T Rowe Price, Goldman Sachs, JPMorgan Chase, Instacart, Fidji Simo, confidentially, Klaviyo, Morgan Stanley, Chibuike Oguh, Lance Tupper, Michelle Price, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Arm Holdings, Japan's Softbank, U.S . Securities, Exchange Commission, SEC, Apple, Nvidia, Devices, Intel, Samsung Electronics, AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Nasdaq, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Facebook, Reuters, Summit Partners, Citigroup, VNG Corp, HK, Temasek, UBS, Bank of America, Thomson Locations: New York, U.S, Russia, Ukraine, Baltimore, TCV, Sequoia, Canadian, United States, Chi Minh City, Singapore

☆ Zoom talks with regulators on Microsoft competition concerns - Bloomberg News
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Eric Yuan, CEO of Zoom Video Communications walks on the street as he takes part in a bell ringing ceremony at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSept 7 (Reuters) - Zoom Video Communications (ZM.O) has met with regulators from the United States, European Union and other jurisdictions to outline concerns about Microsoft's (MSFT.O) alleged anti-competitive behavior, Bloomberg News reported on Thursday. Zoom had expressed its concerns about the way Microsoft has given preference to its chat and video app Teams through price bundling and product design, the report added. "If you have unfair competition, you may not win," Zoom CEO Eric Yuan said, while answering a question at the Goldman Sachs Communications & Technology conference on Tuesday. FTC declined to comment, while Zoom and Microsoft did not immediately respond to Reuters requests for comment.

Persons: Eric Yuan, Carlo Allegri, Zoom, Granth, Shailesh Organizations: Zoom Video Communications, NASDAQ, REUTERS, Communications, European, Bloomberg, U.S . Federal Trade Commission, EU, Microsoft, Goldman Sachs Communications, Technology, European Union, Salesforce, Thomson Locations: New York , New York, U.S, United States, European Union, Germany, Bengaluru

☆ T-Mobile US announces $19 bln shareholder return program
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A T-Mobile store is pictured in the Manhattan borough of New York, New York, U.S., May 20, 2019. REUTERS/Carlo Allegri Acquire Licensing RightsSept 6 (Reuters) - U.S. wireless carrier T-Mobile US (TMUS.O) said on Wednesday it has authorized a shareholder return program of up to $19 billion that will run through December 31, 2024. The company intends to declare and pay its first dividend of approximately $750 million in Q4 2023, as part of the return program. T-Mobile added the dividend amount paid per share is expected to grow by around 10% annually. The shareholder return program is in addition to the company's previously announced $14 billion share repurchase program the Board authorized in September 2022.

Persons: Carlo Allegri, Samrhitha, Krishna Chandra Organizations: REUTERS, Mobile, Thomson Locations: Manhattan, New York , New York, U.S, Bengaluru

The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. "We prefer short-term government bonds over credit," the institute, an arm of BlackRock (BLK.N), the world's largest asset manager, said in a note. "We go underweight high quality credit on a strategic view of five years and longer and trim our overall underweight to sovereign bonds." "We think high quality credit offers limited compensation for any potential hit to returns from wider spreads and sensitivity to interest rate swings," the institute said. "To turn positive on long-term bonds, we would need to see term premium rise much more or think market expectations of future policy rates are too high.

Persons: Carlo Allegri, Davide Barbuscia, Jonathan Oatis Organizations: REUTERS, BlackRock Investment, ICE, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S

Overall U.S. banks' cash assets were $3.26 trillion as of Aug. 23, up 5.4% from the end of 2022. The SVB failure triggered a sudden dash for cash at banks, which within two weeks had bulked up cash assets to $3.49 trillion, the highest level since April 2022. It has $420 billion in cash and $990 billionof what it calls high quality liquidity assets and other unencumbered securities, it said. "The good news is for some of these banks re-investing cash is that we have pretty high short-term rates," said Mac Sykes, portfolio manager at Gabelli Funds. "It's definitely opportunistic and advantageous to be investing short-term securities."

Persons: Carlo Allegri, David Fanger, Moody's, Brendan Browne, Manan Gosalia, Morgan Stanley, Peter Marshall, Mac Sykes, Saeed Azhar, Ann Saphir, Niket, Megan Davies, Nick Zieminski, Richard Chang Organizations: Bank of America, REUTERS, FRANCISCO, Silicon Valley Bank, Signature Bank, Federal, Graphics, Reuters, JPMorgan, Federal Reserve, Regulators, FDIC, Gabelli, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon

☆ Trump's Top 5 defenses in his massive NY financial fraud case, in his own words
▼ + stars: | 2023-09-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +17 min

AdvertisementAdvertisementHere are Trump's top five business fraud defenses – in his own words – as revealed in a recently-unsealed deposition transcript. New York attorney general's officeTrying to pass the blame won't work, two attorneys who used to work for previous New York attorneys general told Insider. And you're suing them instead of going after violent criminals," he scolded the attorney general and her lawyers. Then there's the $250 million Trump allegedly pocketed by lying about the size of his collateral. 3: his math is "worthless"At the center of the attorney general's case are a decade's worth of Trump's Statements of Financial Condition.

Persons: Trump, Donald Trump, Letitia James, James, Andrew S, Amer, Kevin C, Wallace, Brittainy Newman, Eric, I've, Mazars, We're, I'm, general's, Kenneth Foard McCallion, Tristan Snell, –, Susan Watts, they'd, Snell, McCallion, Donald Trump's, Laura Italiano, Kathy Willens, Jennifer S, Altman, Carlo Allegri, John Minchillo, Drew Angerer, George Washington, Jack Nicklaus, Tom Watson, He's Organizations: Trump Org, Service, York, New York State, New York, AP Trump, Trump Organization, New, Trump University, Trump, Deutsche Bank, NY Daily, Getty, Associated Press Deutsche Bank, McCallion, Associates, Washington, MSNBC, Reuters, U.S, Marriott Marquis Locations: NY, Wall, Silicon, Manhattan, New York, Trump's, Trump Tower, Manhattan , NY, . New York, Trump, New York City, Springs, Westchester County , New York, Mount Kisco, N.Y, Washington ,, Miami

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The S&P 500 and Nasdaq touched their highest in over two weeks during the session after the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) showed the number of job openings stood at 8.827 million in July, falling for the third straight month and signaling easing labor market pressures. Interest rate futures signaled an 87% chance the Fed will keep rates steady at its September meeting and a 54% chance it will keep rates on hold through November, according the CME Group's FedWatch tool. "Investors are of the mindset that 'You know what, maybe interest rate hikes are indeed behind us. According to preliminary data, the S&P 500 (.SPX) gained 64.39 points, or 1.45%, to end at 4,497.70 points, while the Nasdaq Composite (.IXIC) gained 239.36 points, or 1.74%, to 13,943.37.

Persons: Carlo Allegri, Elliott, let's, Sam Stovall, Jerome Powell's, drugmaker, Shristi Achar, Noel Randewich, Shounak Dasgupta, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Tesla, Nvidia, U.S . Federal Reserve, Nasdaq, Labor, CFRA Research, Dow Jones, Apple, Google, Elliott Investment Management, Verizon, Citi, PDD Holdings, Thomson Locations: New York, United States, U.S, Bengaluru, Oakland, Calif

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Of the 11 S&P 500 sector indexes, 11 rose, led by communication services (.SPLRCL), up 2.22%, followed by a 2.1% gain in information technology (.SPLRCT). The S&P 500 was up 1.30% at 4,491.03 points. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 7.6-to-one ratio. The S&P 500 posted 17 new highs and two new lows; the Nasdaq recorded 43 new highs and 100 new lows.

Persons: Carlo Allegri, Elliott, let's, Sam Stovall, Jerome Powell's, drugmaker, Shristi Achar, Noel Randewich, Shounak Dasgupta, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, Dow, Wall, Tesla, Nvidia, U.S . Federal Reserve, Labor, CFRA Research, Google, Elliott Investment Management, Dow Jones, Verizon, Citi, PDD Holdings, Thomson Locations: New York, United States, Bengaluru, Oakland, Calif

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS), showed the number of job openings stood at 8.827 million in July, falling for the third straight month and signaling easing labor market pressures. The S&P 500 communication services sector (.SPLRCL) rose 2.6%, while consumer discretionary (.SPLRCD) and technology (.SPLRCT) stocks gained 1.9% each. The non-farm payrolls report on Friday will offer investors more clarity about the state of the labor market. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Elliott, Hogan, Jerome Powell's, drugmaker, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, U.S . Federal Reserve, Labor, Conference Board, Riley, Microsoft, Nvidia, Google, Elliott Investment Management, Dow Jones, Verizon, Citi, PDD Holdings, NYSE, Thomson Locations: New York, United States, Bengaluru

☆ HSBC expands venture debt offering to early-stage startups in US
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

An HSBC bank is pictured during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., October 19, 2020. REUTERS/Carlo Allegri Acquire Licensing RightsAug 24 (Reuters) - HSBC (HSBA.L) said on Thursday it has expanded venture debt offering to early-stage startups through its U.S. innovation banking division. Debt has become an increasingly popular option for startups looking for cash in a tough financing market. HSBC hired 42 bankers from Silicon Valley Bank (SVB), which collapsed in March. "We've been working to mobilize the broader HSBC innovation banking platform around to really be able to support companies from Series A, all the way through their journey," said David Sabow, head of technology and healthcare at the bank's U.S. innovation banking unit.

Persons: Carlo Allegri, We've, David Sabow, Manya Saini, Saeed Azhar, Shinjini Ganguli, Tomasz Janowski Organizations: HSBC, REUTERS, Silicon Valley Bank, Federal Reserve, KPMG, Thomson Locations: Manhattan, New York City , New York, U.S, London, Silicon, United States, Israel, Hong Kong, Bengaluru, New York

The United Nations headquarters building is pictured though a window with the UN logo in the foreground in the Manhattan borough of New York August 15, 2014. Canada said it would put in 200 million Canadian dollars ($147.20 million) and the United Kingdom contributed 10 million pounds ($12.60 million). Campaign group Avaaz said the Global Biodiversity Framework Fund needed $200 million from at least three donors by December to be considered operational. "Surely donors can come up with the paltry $40 million" needed to get the fund up and running. Framework Convention on Climate Change which has provided more than $23 billion to thousands of projects in the past 30 years.

Persons: Carlo Allegri, David Cooper, Avaaz, Oscar Soria, Gloria Dickie, Isla Binnie, David Gregorio Our Organizations: United Nations, UN, New York, REUTERS, Biological Diversity, Nations, Global Environment, Thomson Locations: Manhattan, New, Vancouver, Canada, United Kingdom, Kunming, Montreal, London, New York

☆ Peloton misses target of positive cash-flow by end of 2023, shares fall
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS/Carlo Allegri/File Photo/File Photo Acquire Licensing RightsAug 23 (Reuters) - Peloton Interactive (PTON.O) on Wednesday pushed back its cash-flow positive target to 2024 after it failed to achieve it this year as expected earlier, sending its shares tumbling down 26% in premarket trading. "We do expect to achieve this objective once again in the second half of FY24," Peloton CEO Barry McCarthy said in a letter to shareholders on Wednesday. Peloton's revenue in the fourth quarter fell to $642.1 million from $678.7 million a year earlier. Revenue from connected fitness products fell to $220.4 million from $295.6 million, while subscription revenue were up to $421.7 million from $383.1 million a year earlier.

Persons: Carlo Allegri, Barry McCarthy, Kannaki, Shinjini Organizations: REUTERS, Wednesday, Thomson Locations: Manhattan, New York City, U.S, Bengaluru

A Subway sandwich shop logo is pictured in the Manhattan borough of New York February 14, 2014. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources said. The Wall Street Journal reported on Monday that Roark Capital was nearing a deal to buy Subway for about $9.6 billion. A spokesperson for Subway declined to comment, while representatives for Roark and TDR did not immediately respond to requests for comment. Roark controls Inspire Brands, owner of the Jimmy John's, Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Rusty Taco and SONIC Drive-In chains.

Persons: Carlo Allegri, Roark, DeLuca, Buck, John's, TDR, Sycamore, Goldman Sachs, Fred DeLuca, Peter Buck, Jimmy John's, Dunkin ’, Rusty Taco, Jimmy John’s, Abigail Summerville, Anirban Sen, Greg Roumeliotis Organizations: REUTERS, TDR, Sycamore Partners, Goldman Sachs, Subway, Street, Roark Capital, Goldman, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, Thomson Locations: Manhattan, New York, TDR Capital, Bridgeport , Connecticut, The Milford , Connecticut, U.S, Champaign , Illinois

☆ Dow, S&P 500 end down as US interest-rate worries mount, bank shares slip
▼ + stars: | 2023-08-22 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Financials (.SPBK) were the biggest drag on the S&P 500. An S&P downgrade of multiple regional U.S. lenders weighed on bank shares, with both the KBW regional banking index (.KRX) and the S&P 500 banks index (.SPXBK) sharply lower. According to preliminary data, the S&P 500 (.SPX) lost 11.90 points, or 0.27%, to end at 4,387.87 points, while the Nasdaq Composite (.IXIC) gained 10.01 points, or 0.07%, to 13,507.60. Shares of Nvidia hit an all-time high of $481.87 early but were lower on the day.

Persons: Carlo Allegri, Jerome Powell, Peter Tuz, Caroline Valetkevitch, Amruta Khandekar, Shinjini Ganguli, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Nvidia, NEW YORK, Dow, Reserve, Nasdaq, Investors, Chase Investment, Treasury, Dow Jones, . Department, Kohl's Corp, Nordstrom Inc, Thomson Locations: New York, U.S, Jackson Hole , Wyoming, Charlottesville , Virginia

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Other big technology and growth stocks also rose, with Tesla (TSLA.O) advancing 3.4% after logging its biggest one-day percentage gain since March on Monday. Macy's (M.N) jumped 4% after the department store chain beat second-quarter sales estimates, while Coty (COTY.N) slipped 2.0% after the perfume and cosmetics maker forecast annual profit below Wall Street expectations. ET, Dow e-minis were up 66 points, or 0.19%, S&P 500 e-minis were up 17.25 points, or 0.39%, and Nasdaq 100 e-minis were up 79 points, or 0.53%. Among other stocks, shares of Zoom Video Communications (ZM.O) rose 2.8% in premarket trading after the video-conferencing platform forecast third-quarter profit above Wall Street estimates.

Persons: Carlo Allegri, Nvidia's, Russ Mould, Jerome Powell's, Lowe's Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Nvidia, Monday, Bell, Federal, Traders, Coty, Dow e, Zoom Video Communications, Wall, Activision, Microsoft, Ubisoft Entertainment, Thomson Locations: New York, U.S, Jackson

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The yield on the 10-year Treasury note scaled over 15-year highs after a brief pullback, dragging equities lower. Wall Street had regained some ground on Monday due to a rally in Nvidia and other tech stocks. Shares of Nvidia (NVDA.O) hit an all-time high of $481.87 soon after markets opened but were last down 1.5%. The S&P index recorded one new 52-week highs and 8 new lows, while the Nasdaq recorded 23 new highs and 76 new lows.

Persons: Carlo Allegri, Phil Blancato, Ladenburg, Robert Pavlik, Jerome Powell, Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Nvidia, KeyCorp, Comerica, Dow, Nasdaq, Treasury, Asset Management, Federal, Dakota Wealth, Microsoft, Reuters Graphics, Traders, Dow Jones, Nike, Sporting, Activision, Ubisoft Entertainment, NYSE, Thomson Locations: New York, U.S, Fairfield, Jackson

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Zoom forecasts current-quarter profit above estimates
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/file photo Acquire Licensing RightsAug 21 (Reuters) - Zoom Video Communications (ZM.O) forecast third-quarter profit above Wall Street estimates on Monday, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools. The San Jose, California-based company expects profit per share between $1.07 and $1.09 for the quarter, above analysts' average estimate of $1.03 per share, according to Refinitiv data. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Wall St Week Ahead Less cash, fewer bears could leave U.S. stocks vulnerable
▼ + stars: | 2023-08-19 | by ( David Randall | ) www.reuters.com time to read: +5 min

The upshot, some believe, is that there is now less cash on the sidelines to drive further gains and fewer skeptical investors to win over. The bank’s survey of fund managers showed cash allocations dropped to 4.8% in August, the lowest level in 21 months. Bearishness among retail investors, meanwhile, is at half the levels seen in September 2022, according to the AAII Sentiment Survey. Should the market stabilize, investors will likely reallocate more cash to stocks later in the year, she said. Of course, while optimism has grown, it is still far from extreme, and cash levels are far from historical lows.

Persons: Carlo Allegri, that’s “, Willie Delwiche, Quincy Krosby, Steve Chiavarone, Chiavarone, ”, David Randall, Ira Iosebashvili, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, BofA Global Research, Mount Research, Federal, U.S ., China Evergrande, HK, U.S, LPL, Federated Hermes, Thomson Locations: New York, Jackson Hole , Wyoming, U.S

Cisco Systems (CSCO.O) gained 2.2% in premarket trading after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. Traders' bets of a rate hike pause from the Fed in September slipped to 86.5% from about 89% a week earlier, according to CME Group's Fedwatch tool. Walmart results follow stronger-than-expected earnings from Target (TGT.N) and Home Depot (HD.N) earlier this week, marking an upbeat second quarter for major U.S. retailers. ET, Dow e-minis were up 37 points, or 0.11%, S&P 500 e-minis were up 16 points, or 0.36%, and Nasdaq 100 e-minis were up 72.5 points, or 0.49%. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas Martin, Oppenheimer, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Nvidia, Rosenblatt Securities, Walmart, Target, CVS Health Corp, Dow e, Ball Corp, BAE Systems, Thomson Locations: New York, U.S ., U.S, Bengaluru

Cisco Systems (CSCO.O) gained 4.6% after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. The S&P 500 health sector (.SPXHC), down 0.2%, was among the few major sectors in the red. Advancing issues outnumbered decliners by a 1.91-to-1 ratio on the NYSE and by a 1.16-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 12 new lows, while the Nasdaq recorded 11 new highs and 95 new lows. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Dow, Thomas Martin, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Walmart, Target, CVS Health Corp, . Energy, Dow Jones, Ball Corp, BAE Systems, NYSE, Thomson Locations: New York, U.S ., U.S, Bengaluru

☆ America's wealthiest 10% are responsible for 40% of its climate-crisis-causing emissions. Tax them, researchers say.
▼ + stars: | 2023-08-17 | by ( Morgan Mcfall-Johnsen | Marianne Guenot | ) www.businessinsider.com time to read: +6 min

The richest 10% of Americans' income has generated 40% of US carbon emissions, a new study found. Tax shareholders rather than focusing on consumers, the study authors argue. How much carbon emissions are produced in the supply chain to create the earnings of each income group, pre-tax. Not only was the top 10% earners' income generating over 40% of emissions, but the income of the top 1% was responsible for 15%-17% of emissions, they found. In the US, multiple proposals for a carbon tax have been introduced in Congress.

Persons: Peter Unger, Patrick T, Fallon, Jared Starr, Starr, Carlo Allegri, That's Organizations: Investments, Service, Getty Images, Getty, University of Massachusetts Amherst, International Monetary Fund Locations: Manhattan

☆ Trump stiffed his alleged co-conspirators, whose false claims brought in $250 million
▼ + stars: | 2023-08-15 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

But the Trump campaign and their affiliated committees ultimately did not honor that pledge, according to campaign finance records. Over more than two months, Giuliani served as the public face of Trump's election challenges, which ultimately failed. The money came in response to countless fundraising appeals that claimed it was needed to fund Trump's election challenges in court. Chesebro, for his part, told the House committee that the work he did for the Trump team was pro bono. But not a penny more from team Trump for their services.

Persons: Rudy Giuliani, Donald Trump, Carlo Allegri, Donald Trump's, Trump, Giuliani, Timothy Parlatore, Bernard Kerik, Jack Smith's, Parlatore, Bob Costello, Kerik, stiffed Giuliani, Sidney Powell, Jonathan Ernst, Kenneth Chesebro, John Eastman, Eastman, Powell, Chesebro, Matthew Morgan, Jim Bourg, Reuters Morgan, Eastman didn't, Jan, Morgan, Justin Clark, Clark, we're Organizations: New York, Republican, of Police, Reuters, Trump, New, CNBC, ", Capitol, Save, OpenSecrets, PAC, U.S, Republican National Committee, Commission, Giuliani, Georgia RICO, New York City, Congress, Federal, FEC, Eastman Locations: Statesville , North Carolina, U.S, New York, Georgia, Save America, Washington, Washington , U.S

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