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☆ Exclusive: JPMorgan shuffles bosses as Rivas to retire as head of North American investment banking -memo
▼ + stars: | 2023-09-26 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +1 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Sept 26 (Reuters) - JPMorgan Chase (JPM.N) reorganized the leadership in its investment bank, promoting a new head in North America to succeed Fernando Rivas, who plans to retire, according to a memo seen by Reuters. He will be replaced by Jay Horine, who is currently the global industry co-head for energy, power and renewables, metals and mining (EPRM), according to the memo. Horine will also continue to be the global industry co-head of EPRM. The bank also appointed several global heads for industry groups reporting to Jim Casey and Vis Raghavan, who jointly lead global investment banking, effective immediately. Chandarana was previously chief data and analytics officer for the corporate and investment bank.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Fernando Rivas, Rivas, JPMorgan's, Jay Horine, Horine, Jim Casey, Vis Raghavan, Samik Chandarana, Chandarana, Nupur Anand, Lananh Nguyen, David Gregorio, Mark Porter Organizations: JP, Co, REUTERS, JPMorgan, Reuters, Bank, Thomson Locations: New York, North America

More than 9 million merchants sell their wares on Amazon's marketplace and also supply it with steady streams of revenue. Amazon collects advertising fees for touting their products, fulfillment fees for delivery in addition to less specific "sellers' fees." Some merchants welcome the potential of relaxed seller and advertising charges, while others worry that completely dissolving Amazon's advertising services would harm their ability to reach shoppers. The FTC found that the company's fulfillment fees increased approximately 30% between 2020 and 2022. Dieterle relies on Amazon's fulfillment and advertising services to boost merchandise sales.

Persons: Mike Segar, Rick Dieterle, Dieterle, Lindsay Windham, Bryan Croft, Croft, Big, Jason Hince, Hince, Stacy Mitchell, Arriana McLymore, Matthew Lewis 私 Organizations: REUTERS, Rights, Merchants, U.S . Federal Trade, Big Tech, Amazon, FTC, Taco Brands, Union, HC Brands, Big Crazy Buffalo, Facebook, Google, Big, Institute for Local Locations: Manhattan, New York City, Rights RALEIGH, North Carolina, Buffalo, Raleigh , North Carolina

REUTERS/Mike Segar Acquire Licensing RightsWASHINGTON, Sept 26 (Reuters) - Charges that Senator Bob Menendez accepted bribes in exchange for wielding his influence to aid the Egyptian government prompted calls in the U.S. Congress on Tuesday for the Biden administration to rethink $235 million in military aid to Cairo. Democratic Senator Chris Murphy, who chairs the Senate Foreign Relations Committee's Middle East subcommittee, said he hoped the committee would investigate the allegations and Egypt's involvement. "I have not talked to colleagues about this yet, but obviously this raises pretty serious questions about Egypt, Egypt's conduct," he said. The indictment against Menendez also says he had close relationships with members of Egypt's intelligence services and held meetings to discuss U.S. military aid. He has stepped down temporarily from his role as chairman of the powerful Senate Foreign Relations Committee.

Persons: Robert Menendez, Nadine Menendez, Mike Segar, Bob Menendez, Biden, Chris Murphy, Menendez, Murphy, Joe Biden's, Don Beyer, Beyer, Patricia Zengerle, Tom Hogue Organizations: REUTERS, Rights, U.S, Congress, Democratic, Relations, Foreign Relations, Egypt Human Rights Caucus, U.S . Senate, CNN, Thomson Locations: Jersey, Union City , New Jersey, U.S, Cairo, Egypt, Washington

☆ The full moon has different names for each month. Here's the meaning and origin for the whole lunar calendar.
▼ + stars: | 2023-09-26 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +11 min

The next full moon will be a harvest moon, rising on September 29. AdvertisementAdvertisementSeptember: harvest moon, "corn moon," "barley moon"Amish people harvest corn in Maryland. A harvest moon sometimes occurs in October (the moon doesn't follow the Gregorian calendar), but it's always the full moon closest to the autumnal equinox. The next worm moon: March 25, 2024April: "pink moon," "sprouting grass moon," "egg moon," "fish moon"Wildflowers along the California coastline in Big Sur at sunset. AdvertisementAdvertisementThe next seasonal blue moon: August 19, 2024The next monthly blue moon: August 19, 2024

Persons: It's, —, Patrick Hartigan, Mark Wilson, it's, Shamil Zhumatov, Eddie Keog, what's, Jeff R Clow, Andy ClarkREUTERS, John Moore, Mike Segar, Charlie Baker, Brian Snyder, that's, Mike Blake, Toby Talbot, Mead, Toby Melville Deer, Matt Balazik, Steve Helber, Champlain, Paul Hanna Supermoons, Andrew Lichtenstein Organizations: Service, Rice University, Reuters, North, Getty, Beavers, REUTERS, Former, NASA, AP, Astronomical Union Locations: Maryland, Moscow, Russia, North America, Europe, New England, Superior, Colonial, Stokenchurch, England, Lake Louise , Alberta, Irvington , New York, Former Massachusetts, Hollis Hill, Fitchburg , Massachusetts, Algonquin, California, Big Sur, Calais , Vermont, Richmond Park, London, Britain, Alaska, James, Charles City , Virginia

Some elected officials in his state of New Jersey, including the state's Democratic governor, have publicly urged him to step down. Menendez has stepped down temporarily from his role as chairman of the powerful Senate Foreign Relations Committee. Senate Democratic rules require any member charged with a felony to give up their leadership position, though they can take it back if they are found not guilty. The probe is the third time Menendez has been under investigation by federal prosecutors, though he has never been convicted. Menendez, his wife and the businessmen are expected to appear in Manhattan federal court on Wednesday.

Persons: Bob Menendez, Menendez, Karine Jean, Pierre, Robert Menendez, Nadine Menendez, Mike Segar, Barack Obama's, Makini Brice, Doina, Steve Holland, Scott Malone, Mark Porter Organizations: Democratic, Republican, Foreign Relations, New, U.S, White, REUTERS, Benz, Thomson Locations: Jersey, New Jersey, Union City , New Jersey, U.S, Egypt, Manhattan, Cuba, Iran

Senator Robert Menendez (D-NJ) delivers remarks, after he and his wife Nadine Menendez were indicted on bribery offenses in connection with their corrupt relationship with three New Jersey businessmen, in Union City, New Jersey, U.S., September 25, 2023. REUTERS/Mike Segar Acquire Licensing RightsWASHINGTON, Sept 25 (Reuters) - U.S. Democratic Senator Bob Menendez denied wrongdoing and vowed to stay in Congress on Monday after prosecutors charged him and his wife with taking bribes from three New Jersey businessmen. Menendez's stance defied calls from elected officials in his state of New Jersey, including the state's Democratic governor, to step down. Senate Democratic rules require any member charged with a felony to give up their leadership position, though they can take it back if they are found not guilty. Prosecutors want Menendez to forfeit assets including his home, a 2019 Mercedes-Benz convertible and $566,000 in cash, gold bars and bank account funds.

Persons: Robert Menendez, Nadine Menendez, Mike Segar, Bob Menendez, Menendez, Barack Obama's, Makini Brice, Doina, Scott Malone, Mark Porter Organizations: REUTERS, Rights, Democratic, Jersey businessmen, Republican, Foreign Relations, New, Prosecutors, Benz, Thomson Locations: Jersey, Union City , New Jersey, U.S, New Jersey, Egypt, Manhattan, Cuba, Iran

Retail fuel prices in the U.S. and Europe have risen to multi-month highs as crude prices have rallied. "If energy prices increase and stay high, that'll have an effect on spending, and it may have an effect on consumer expectations for inflation, things like that. High interest rates are already curbing demand across Western economies, including for oil. The U.S. Federal Reserve on Wednesday pressed pause on interest rates, but did not rule out one more hike this year. President Joe Biden has already promised to cut prices, though has not said how, and in the short term the impact of autumn refinery maintenance on supplies could keep prices high.

Persons: Mike Segar, Brent, Jerome Powell, Morgan Stanley, Goldman Sachs, Goldman, PVM's Tamas Varga, I'm, Craig Erlam, Ajay Parmar, Joe Biden, Gordon Balmer, Natalie Grover, Robert Harvey, Mark John, Balazs Koranyi, Dan Burns, Simon Webb, Barbara Lewis Organizations: Exxon, REUTERS, . West Texas Intermediate, Reuters, Retail, Federal, International Energy Agency, Organization of, Petroleum, U.S . Federal Reserve, HSBC, Energy Information Administration, U.S, Diesel, Energy, Petrol Retailers, Thomson Locations: Edgewater , New Jersey, U.S, OPEC, Europe, Brazil, Guyana, United States, Russia, Saudi Arabia, Ukraine, Britain, France, London, Frankfurt, New York

☆ Trudeau expects Canadian interest rates to come down by mid 2024
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File Acquire Licensing Rights Read moreSept 23 (Reuters) - Canadian Prime Minister Justin Trudeau expects interest rates are going to start coming down by the middle of next year, in-line with recent Reuters poll estimates, though the latest economic data has turned the central bank more hawkish. We think interest rates are going to start coming down probably middle of next year," Trudeau told the New York Times in an interview just before returning to Canada after attending the United Nations General Assembly. Trudeau's popularity as measured by opinion polls has dropped as Canadians deal with a cost-of-living crisis, sparked by the central bank's record pace of interest rate increases to tame inflation. Trudeau has waded into a sensitive monetary policy debate and past comments on interest rates by his government and other provincial politicians have raised questions about the independence of the central bank. Reporting by David Ljunggren in Ottawa Writing by Denny Thomas, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Justin Trudeau, Mike Segar, Trudeau, Macklem, Chrystia Freeland, Pierre Poilievre, David Ljunggren, Denny Thomas, Franklin Paul Organizations: Canadian, REUTERS, New York Times, United Nations General Assembly, Bank of Canada, BoC, U.S . Federal Reserve, Finance, Minister's, Conservative Party Leader, Franklin Paul Our, Thomson Locations: New York, U.S, Canada, Ottawa

☆ Conservative women leaders make their entrance at the UN General Assembly
▼ + stars: | 2023-09-22 | by ( Stephanie Fillion | ) edition.cnn.com time to read: +6 min

United Nations CNN —When Jacinda Ardern brought her baby Neve to the United Nations for the 2018 General Assembly, then-New Zealand Prime Minister became an emblematic figure of modern women in politics. But women attending the annual top rendezvous of diplomacy have remained a minority, and the UN General Assembly this year is no different. “This perpetuates the cycle,” Susana Malcorra, a former foreign minister of Argentina and president of Global Women Leaders Voices, said. Of course, not all the women leaders attending UNGA are on the far side of the political spectrum. It was Čaputová’s last General Assembly as president of her country, as she announced a few months ago she won’t seek reelection in 2024 for personal reasons.

Persons: Jacinda Ardern, Neve, ” Susana Malcorra, Katalin Novak, Giorgia Meloni, Meloni, “ Meloni, ” Richard Gowan, Katalin Novák, Viktor Orbán, it’s, Novák, Orban, Novak, ”, Mike Segar, Dina Boluarte, Peru’s, Pedro Castillo, Boluarte, UNGA, Zuzana, Maia Sandu, Nataša Pirc Musar, –, Sheikh Hasina, Mia Mottley, Bob Marley, Xiomara Castro, Ursula von der Leyen, Kristalina Georgieva, Ngozi, Natalie Portman Organizations: United Nations CNN, United Nations, Zealand, UN, Assembly, Global, Italian, Ukraine, Crisis, United Nations Security Council, Reuters, Security Council, Slovenia, Big Apple, European Commission, International Monetary Fund, World Trade Organization Locations: New York, Argentina, Italy, Ukraine, Slovakia, Moldova, Barbados, New York City, Honduras

[1/2] Former U.S. President Donald Trump departs from Trump Tower to give a deposition to New York Attorney General Letitia James who sued Trump and his Trump Organization, in New York City, U.S., April 13, 2023. James has accused Trump of repeatedly lying in financial statements to obtain better terms on loans and insurance. Last week, Trump accused James of ignoring the decision and Engoron of refusing to implement it, and said the trial should be delayed. She said even a brief delay "would likely wreak havoc" on the trial and other trials that Trump faces. James' lawsuit seeks to bar Trump and his adult sons Donald Jr. And Eric from running businesses in New York.

Persons: Donald Trump, Letitia James, Trump, Mike Segar, Donald Trump's, Letitia James's, James, Arthur Engoron, Trump's, Ivanka Trump, Engoron, Donald Jr, Eric, Karen Freifeld, Jonathan Stempel, Daniel Wallis, Chizu Organizations: U.S, Trump Tower, New York, Trump Organization, REUTERS, Companies Trump Organization, Trump, Thomson Locations: New, New York City, U.S, New York, Manhattan, Lago, Florida

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Colors promoting UN goals or LGBTQ rights? Turkey's Erdogan complains
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsUNITED NATIONS, Sept 21 (Reuters) - Turkey's President Tayyip Erdogan complained on Thursday that he was uncomfortable with the use of what he described as "LGBT colors" at the United Nations, which is decorated this week with bright colors promoting the Sustainable Development Goals. Erdogan said he would have liked to discuss it with U.N. Secretary-General Antonio Guterres, Turkish media reported on Thursday. Turkey's government - led by Erdogan and his Islamist-rooted AK Party - has toughened its stance on LGBTQ freedoms. While Guterres has been a vocal supporter of LGBTQ rights and spoken out about discrimination, there are no rainbow Pride colors at U.N. headquarters promoting LGBTQ rights. The 17 Sustainable Development Goals, adopted by world leaders in 2015 with a deadline of 2030, are a global "to do" list that includes wiping out hunger, extreme poverty, battling climate change and inequality, and promoting gender equality.

Persons: Antonio Guterres, Mike Segar, Tayyip Erdogan, Erdogan, Turkey's, Haberturk, Guterres, Michelle Nichols, Jonathan Oatis, Grant McCool Organizations: United Nations, Sustainable, REUTERS, UNITED NATIONS, AK, United Nations General Assembly, Thomson Locations: U.N, New York City , New York, U.S, Turkey

☆ 'Stop the war' and Zelenskiy need not speak, UN Security Council chair tells Russia
▼ + stars: | 2023-09-20 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +2 min

Ukraine's President Volodymyr Zelenskiy addresses the United Nations Security Council during a ministerial level meeting of the Security Council on the crisis in Ukraine at U.N. headquarters in New York, September 20, 2023. "There is a solution for this," Rama continued, addressing Nebenzia directly: "If you agree, you stop the war and President Zelenskiy will not take the floor." After the session, Zelenskiy thanked Rama on social media, saying the Albanian, who is both an artist and former basketball player, "showed the world how to correctly handle Russia, its lies, and its hypocrisy." When given the floor after the back-and-forth, Zelenskiy asked Russia be stripped of its veto right as one of five permanent members of the post-World War Two U.N. Security Council as punishment for attacking Ukraine. Reporting by Gabriela Baczynska; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

Persons: Volodymyr Zelenskiy, Mike Segar, Volodomyr Zelenskiy's, Vassily Nebenzia, Rama, Nebenzia, Zelenskiy, Sergei Lavrov, Gabriela Baczynska, Howard Goller Organizations: United Nations Security Council, Security, REUTERS, UNITED NATIONS, Albanian, Edi Rama, NATO, Ukraine, Russian, Kyiv, Thomson Locations: Ukraine, U.N, New York, Moscow, Russia

☆ WTA roundup: Madison Keys loses Guadalajara opener
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Keys, the tournament's fourth seed, received a first-round bye. Navarro converted five of her seven break-point opportunities, while Keys broke serve three times on five chances. Navarro advances to face former U.S. Open finalist Leylah Fernandez of Canada, who knocked out 13th-seeded Elise Mertens of Belgium 6-3, 6-4. 1 Ons Jabeur of Tunisia routed the United States' Alycia Parks 6-2, 6-2, and No. The United States' Sofia Kenin eliminated 12th-seeded Anhelina Kalinina of Ukraine 6-2, 7-6 (5).

Persons: Madison Keys, Aryna Sabalenka, Mike Segar, Keys, Navarro, Leylah Fernandez, Elise Mertens, Maria Sakkari, Australia's Storm Hunter, Caroline Garcia of France, Ekaterina Alexandrova, Poland's Magdalena Frech, Sofia Kenin, Lucia Bronzetti, Yi Yang, Bronzetti, Yang's, Uchijima, France's, Tatjana Maria of, Alexandra Eala, Daria Saville of, Germany's Anna, Lena Friedsam, Viktoria Hruncakova, Russian Anna Kalinskaya, Viktorija, Yulia Putintseva, Xiyu Wang, Yue Yuan, Zhuoxuan Bai Organizations: Madison, Belarus, Aryna Sabalenka REUTERS, U.S, Australia's Storm, Poland's, United, Thomson Locations: Flushing Meadows , New York, United States, Guadalajara, Mexico, Open Akron, U.S, Canada, Belgium, Tunisia, Greece, Belarus, Russia, Ukraine, Guangzhou, Italy, Taiwan, China, Tatjana Maria of Germany, Philippines, Daria Saville of Australia, Slovakia, Russian, Switzerland, Kazakhstan

"The move from fossil fuels to renewables is happening – but we are decades behind," Guterres said at the start of the one-day summit. "We must make up time lost to foot-dragging, arm-twisting and the naked greed of entrenched interests raking in billions from fossil fuels." Those not invited to speak were the world's two top polluters - the United States and China – though U.S. Special Envoy on Climate Change John Kerry was in the audience. "This climate crisis is a fossil fuel crisis," he said, drawing applause from the heads of state and others in the room. "Climate change is a top priority for my administration," Thavisin told the gathering, his country having recently created a climate change ministry.

Persons: Antonio Guterres, Mike Segar, Guterres, John Kerry, China's U.N, William Ruto, Ruto, Gavin Newsom, Srettha Thavisin, Thavisin, Sultan Ahmed al, Jaber, COP28, Mia Mottley, Ursula von der Leyen, Pushpa Kamal Dahal, Valerie Volcovici, Katy Daigle, Howard Goller Organizations: United Nations, General Assembly, REUTERS, Companies Allianz, General, United Arab Emirates, Thailand's, FINANCE, Security Council, Allianz, World Bank, International Monetary Fund, Fund, Thomson Locations: New York City, U.S, COP28, Dubai, Brazil, Canada, Pakistan, South Africa, Tuvalu, United States, China, California, UAE, Barbados, Ukraine

☆ Zelenskyy: Russia is weaponizing food, energy and abducted children in its war against Ukraine
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +4 min

Ukraine's President Volodymyr Zelenskiy addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. Mike Segar | ReutersUkrainian President Volodymyr Zelenskyy said Tuesday that Russia is "weaponizing" everything from food and energy to abducted children in its war against Ukraine — and he warned world leaders that the same could happen to them. "Those children in Russia are taught to hate Ukraine, and all ties with their families are broken. Russia gets its chance to address the General Assembly on Saturday, when Foreign Minister Minister Sergey Lavrov is expected on the rostrum. Volodymyr Zelenskyy, President of Ukraine, speaks at the General Debate of the UN General Assembly.

Persons: Volodymyr Zelenskiy, Mike Segar, Volodymyr Zelenskyy, Ukraine —, Zelenskyy, Vladimir Putin, Sergey Lavrov, U.N, Dmitry Polyansky, Michael Kappeler, Joe Biden, haven't, Anatolii Stepanov Organizations: General Assembly, Reuters, Ukraine, Foreign, UN, Assembly, Getty, Moscow, U.S, AFP Locations: New York City, U.S, Russia, Ukraine, Russia's, Moscow, Ukraine's, China, India, Caribbean, Africa, Kramatorsk, Donetsk region

☆ Iran demands US show goodwill after quitting nuclear deal
▼ + stars: | 2023-09-19 | by ( Parisa Hafezi | ) www.reuters.com time to read: +3 min

"By exiting the JCPOA, the United States violated the agreement and the principle of good faith. America should demonstrate its goodwill and determination," Raisi said in a speech at the U.N. General Assembly, referring to the Joint Comprehensive Plan of Action between Tehran and six world powers. But months of nuclear talks have stalled since last September, with both sides accusing each other of demanding excessive concessions. U.S. and European officials have been searching for ways to curb Tehran’s nuclear activities since the breakdown of indirect American-Iranian talks a year ago. Further straining already difficult ties, the United States and its Western allies have imposed sanctions on Iran over its handling of months of protests sparked by the death in custody of young Iranian Kurdish women Mahsa Amini.

Persons: Ebrahim Raisi, Mike Segar, Raisi, Donald Trump, Joe Biden, Mahsa Amini, Iran's Raisi, Gilad Erdan, Parisa Hafezi, Arshad Mohammed, Howard Goller, Grant McCool Organizations: United Nations General Assembly, General Assembly, REUTERS, UNITED NATIONS, Former U.S, Union, Reuters, United, United Nations, Thomson Locations: New York City, U.S, United States, Tehran, Former, Iran, America, Washington, Qatar, South Korea, of Israel, United Nations, Israel

☆ Brazil's Lula warns United Nations of coup risk in Guatemala
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +3 min

[1/4] Brazil's President Luiz Inacio Lula da Silva addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Mike Segar Acquire Licensing RightsUNITED NATIONS, Sept 19 (Reuters) - Brazilian President Luiz Inacio Lula da Silva warned world leaders at the United Nations on Tuesday of the prospect of a coup in Guatemala, echoing U.S. concerns about risks to democracy in the Central American country after last month's election. "In Guatemala, there is a risk of a coup, which would impede the inauguration of the winner of democratic elections," Lula told the U.N. General Assembly. Lula's comments on Guatemala were surprisingly in line with Washington for a leader who has not always seen eye-to-eye with the United States. He also attacked the International Monetary Fund for not representing poor countries and the World Trade Organization for not averting increased protectionism in the world.

Persons: Luiz Inacio Lula da Silva, Mike Segar, Lula, Bernardo Arevalo, Francisco Mora, Mora, Alejandro Giammattei, Giammattei, Arevalo, Brad Haynes, Gabriel Stargardter, Anthony Boadle, Rosalba O'Brien, Jonathan Oatis, Grant McCool Organizations: General Assembly, REUTERS, UNITED NATIONS, United Nations, Central American, General, Party, Prosecutors, Organization of American, U.S, Cuba, . Security, International Monetary Fund, World Trade Organization, Reuters, Thomson Locations: New York City, U.S, Guatemala, Washington, United States, Ukraine, New York, Sao Paulo

☆ H&M looks out of sync with shoppers’ reality
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar Acquire Licensing RightsMILAN, Sept 15 (Reuters Breakingviews) - H&M (HMb.ST) CEO Helena Helmersson is feeling the heat. H&M has probably been operating under the illusion that it could maintain pricing power while consumers are being hit by inflation. Its $120 billion rival Inditex (ITX.MC), whose Zara brand is considered more upmarket than H&M, has started to pause price increases. Right now, H&M trades on the same 20 times forward earnings multiple than Inditex.

Persons: Mike Segar, Helena Helmersson, “, That’s, Shein, Inditex's, Lisa Jucca, George Hay, Streisand Neto Organizations: REUTERS, Reuters, RBC, X, Thomson Locations: Manhattan , New York, U.S, Swedish

A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. Technology staff working on overlapping functions are also at risk of being laid off, one of the people said. "Simplifying the organization will also advance the execution of Citi's transformation, the firm's top priority," the company said in a statement on Wednesday. Citigroup has invested heavily in recent years in technology systems to increase risk controls and compliance to address the consent order, one of the sources said. But the company still employs many people with overlapping functions and redundant technology systems, one of the sources said.

Persons: Mike Segar, Jane Fraser, Moody's, Peter Nerby, Fraser, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Leslie Adler Organizations: Citibank, REUTERS, Citigroup, Technology, Citi, Bank of America, Wells, Thomson Locations: New York , New York, U.S, North America

☆ Judge temporarily halts NY fraud trial against Trump, pending appeal
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Former U.S. President Donald Trump departs from Trump Tower to give a deposition to New York Attorney General Letitia James who sued Trump and his Trump Organization, in New York City, U.S., April 13, 2023. According to the court spokesman, appeals court Justice David Friedman granted an interim stay of the trial, and referred the matter to a five-judge panel, which expects to rule in the last week of September. The trial could still begin on Oct. 2 depending on how the appeals court, known as the First Department, rules. Friedman's stay does not apply to a scheduled Sept. 22 hearing before Engoron on both sides' motions for summary judgment, which can proceed as planned, the court spokesman said. She is seeking a $250 million fine, and to bar Trump and his sons Donald Trump Jr and Eric Trump from leading the family business, the Trump Organization.

Persons: Donald Trump, Letitia James, Trump, Mike Segar, Arthur Engoron, James, David Friedman, general's, Engoron, Donald Trump Jr, Eric Trump, Luc Cohen, Jonathan Stempel, Leslie Adler Organizations: U.S, Trump Tower, New York, Trump Organization, REUTERS, Daily, First Department, Trump, Republican, Democratic, Thomson Locations: New, New York City, U.S, York, New York

The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index (.SPLRCD) climbed 0.9%, lifted as Ford Motor (F.N) rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 10 new highs and 11 new lows; the Nasdaq recorded 20 new highs and 199 new lows.

Persons: Victoria Fernandez, Raindrops, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Nasdaq, Dow, Federal Reserve, Microsoft, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

Megacap growth stocks Tesla (TSLA.O), Meta Platforms (META.O), Microsoft (MSFT.O) and Amazon.com (AMZN.O) gained for much of the session. According to preliminary data, the S&P 500 (.SPX) gained 5.87 points, or 0.13%, to end at 4,467.77 points, while the Nasdaq Composite (.IXIC) gained 39.96 points, or 0.29%, to 13,813.59. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Reuters Graphics Reuters GraphicsThe Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.

Persons: Victoria Fernandez, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Federal Reserve, Microsoft, Apple, Nasdaq, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

☆ J.P.Morgan expects no further Fed interest rate hikes this cycle
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSept 13 (Reuters) - J.P.Morgan Asset Management said on Wednesday it expects no further interest rate hikes from the U.S. Federal Reserve in this cycle, after crucial inflation data appeared to remain on its downward path. "Despite still rising oil prices in early September, we expect the impact of oil price spikes on CPI to be limited," J.P.Morgan's Chief Global Strategist David Kelly said in a note. "We still believe that, barring some further shock, year-over-year headline consumption deflator inflation will be below the Fed's 2% target by the fourth quarter of 2024." Reporting by Reshma Rockie George in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Chase, Mike Segar, David Kelly, Reshma Rockie, Shounak Dasgupta Organizations: Co, New York City, REUTERS, J.P.Morgan, Management, U.S . Federal Reserve, Thomson Locations: New York, U.S, Reshma Rockie George, Bengaluru

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSummaryCompanies Spirit Airlines slips on revenue outlook cutFord rises on plans to double production of pickup trucksConsumer prices data due at 8:30 a.m. ETFutures down: Dow 0.12%, S&P 0.12%, Nasdaq 0.15%Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. "All indications are that higher oil costs are going to influence the headline inflation print. Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.

Persons: Mike Segar, Tim Waterer, Li Auto, Ankika Biswas, Shristi, Shubham Batra, Savio D'Souza, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Spirit Airlines, Dow, Nasdaq, stoke, Labor, KCM, Federal Reserve, Dow e, Apple, Li, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Xpeng, Bengaluru

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