Author: IA PressRoom

© Reuters. FILE PHOTO: A view shows a stop sign at a security gate to the U.S. Treasury building in Washington, U.S., January 20, 2023.  REUTERS/Kevin Lamarque By Shankar Ramakrishnan, Matt Tracy and Laura Matthews NEW YORK (Reuters) – Large U.S. companies have been on a bond issuance binge but this rapid pace in supply may be hard to sustain ahead of expected volatility related to extending the U.S. debt ceiling and another possible move higher in interest rates. Investment-grade rated companies issued $152 billion in May, making it the busiest May since 2020 when the pandemic crisis prompted record…

© Reuters. Investing.com– Oil prices rose in Asian trade on Thursday, rebounding from near one-month lows as investors cheered progress towards averting a U.S. debt default, while signs of life in Chinese manufacturing also brewed some optimism over a demand recovery in the country.  Markets took some relief from the U.S. House of Representatives voting in favor of a bill to suspend the debt ceiling, moving it forward to the Senate for a vote later this week.  The move comes just days before a June 5 deadline for a U.S. default, although the bill’s progression in the Senate marks a…

CNN  —  A hospital in Idaho has been diverting ambulances to other hospitals for more than 24 hours because of a cyberattack, a hospital spokesperson confirmed to CNN on Wednesday in the latest example of a hacking incident complicating health care in the US. The cyberattack took place on Monday and has forced nurses and doctors at Idaho Falls Community Hospital, an 88-bed hospital in the east of the state, to use pen and paper rather than computers for patient charts, hospital spokesperson Brian Ziel told CNN. The hospital is still caring for patients and staffers are “working around the…

The impact of organized retail crime has been a subtheme of earnings season in the retail sector, with BJ’s Wholesale Club Holdings Inc. CEO Bob Eddy the latest executive to weigh in on the issue. “Organized retail crime is definitely a thing,” he said, during a conference call to discuss the company’s first-quarter results Tuesday. “We see it, and it is material,” he added. See: BJ’s Wholesale stock falls toward 4-month low after profit matches expectations but revenue misses The issue of inventory “shrink” caused by theft and organized retail crime was cited by Target Corp. TGT, -2.17% when it…

JPMorgan CEO Jamie Dimon told Bloomberg TV he has considered going into politics. Billionaire investor Bill Ackman urged Dimon to run for president in a tweet and gave him a glowing testimony. But Dimon said last week that he intends to run JPMorgan for another three-and-a-half years. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app JPMorgan CEO Jamie Dimon has hinted that he may be getting into politics after retiring from his banking career.”Obviously, it’s crossed my mind because people mention things to you…

Venture capital funds, private equity groups and accountancy firms are using the latest artificial intelligence to pick acquisition targets and start-ups for investment, betting the technology can give them an edge over rivals.Big Four accountant KPMG, hedge fund Coatue and venture capital firm Headline are among those using the latest AI tools to advise clients and help guide their dealmaking.With investors under pressure to identify the next high-growth start-up at a time when few companies are going public, some argue that dealmakers can benefit from using generative AI for tasks such as assessing a company’s growth potential based on financial…

Source: Pixabay US lawmakers are slated to discuss digital asset spot markets during a congressional hearing next week.The House Agriculture Committee will hold a hearing on June 6 titled “The Future of Digital Assets: Providing Clarity for Digital Asset Spot Markets.”The committee has jurisdiction over the Commodity Futures Trading Commission and has begun an effort to work with the House Financial Services Committee, which has oversight over the Securities and Exchange Commission. Notably, both the CFTC and SEC have been exercising their jurisdiction through enforcement actions and public statements over the past year. Coordination between committeesThe two House committees held a joint hearing…

© Reuters. Investing.com– Most Asian currencies advanced on Thursday, while the dollar inched lower tracking comments from Federal Reserve officials touting a potential pause in the rate hike cycle in June.  Markets were also somewhat encouraged by the U.S. House of Representatives voting in favor of a bill to raise the debt ceiling and avert a U.S. default, with the bill now headed for a final vote in the Senate later this week. This comes ahead of a June 5 deadline for a U.S. default, the prospect of which has kept markets on edge over the past week.  rose 0.2%,…

House passes debt ceiling deal Fox News senior congressional correspondent Chad Pergram has the latest on the House of Representatives passing the debt ceiling deal by a 314-117 vote on ‘The Ingraham Angle.’ House Freedom Caucus Chair Scott Perry, R-Pa., dodged a question about where he stands on taking Speaker Kevin McCarthy’s gavel away after the House passed the GOP leader’s debt limit bill.The bill, forged from a compromise between McCarthy and President Biden, passed in a 314-117 vote that saw majorities in both parties support the agreement, which also meets the GOP demand of cutting nondefense discretionary spending over the…

The S&P 500 (SP500) on Wednesday managed to post a marginal gain of 0.25% for the month of May to close at 4,179.83 points, while its accompanying SPDR S&P 500 Trust ETF (NYSEARCA:SPY) added 0.34%. The benchmark index traded in a tight range throughout the month, as a surge in technology stocks was countered by losses in energy names. It was a busy May, with market participants digesting a Federal Reserve rate hike, the first quarter earnings season, a regional banking crisis, a host of economic data and the debt ceiling saga. The Fed in the first week of May…