Author: News Room

By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday will host a roundtable discussion on further steps to evolve the World Bank and other development lenders to tackle climate change and other global crises beyond a $5 billion annual World Bank lending expansion, the Treasury said. The discussion on the sidelines of the World Bank and International Monetary Fund Spring Meetings will bring together finance ministers from major shareholders and borrowing countries that will cover “ways to maintain momentum to evolve the multilateral development banks to better meet current challenges,” the Treasury said in a statement. The…

By Barani Krishnan Investing.com — The March U.S. jobs report was neither a pedestal nor wrecker ball for the bulls in gold. Futures of the yellow metal settled around the key $2,000-an-ounce level on Monday while the spot price traded not too far from there after the latest monthly report on U.S. , or NFP, showed an addition of 236,000 jobs, just shy of the 239,000 called by Wall Street’s forecasters. The March NFP number was well above the 200,000 that would have been instrumental in getting the Fed to pause in May. Annual wage gains also slowed but remained…

© Reuters. By Oliver Gray Investing.com – U.S. stock futures were trading in a tight range during Monday’s evening deals, following a mostly positive session among major benchmark indices as market participants look toward this week’s By 6:46pm ET (10:46pm GMT) , and were each trading 0.1% higher. Ahead in Tuesday’s trade, investors will be monitoring as well as speeches from the FOMC’s Harker and Kashkari, while and the are set to be released Wednesday. On the earnings front, companies including Albertsons Companies (NYSE:), Louis Vuitton ADR (OTC:), Delta Air Lines Inc (NYSE:), UnitedHealth Group Incorporated (NYSE:) and JPMorgan Chase…

The State Department on Monday designated as “wrongfully detained” Evan Gershkovich, a Wall Street Journal reporter who was arrested by Russian security services last month and held on an accusation of espionage that the Journal and the U.S. government vehemently deny.Gershkovich’s case now shifts to a State Department section — known as the Office of the Special Presidential Envoy for Hostage Affairs — which is focused on negotiating for the release of hostages and other Americans classified as wrongfully detained in foreign countries. Officials said the speed at which the designation was reached was unprecedented, as it involves a lengthy bureaucratic process that typically takes…

President Joe Biden signed legislation Monday to end the national emergency for Covid-19, the White House said, in a move that will not affect the end of the separate public health emergency scheduled for May 11. A White House official downplayed the impact of the bill, saying the termination of the emergency “does not impact our ability to wind down authorities in an orderly way.” The bill to end the national emergency cleared the Senate last month in a bipartisan 68-23 vote and passed the House earlier this year with 11 Democrats crossing party lines to vote for the joint…

Corporate America is facing its sharpest drop in profits since the early stages of the coronavirus pandemic, according to Wall Street forecasts, as high inflation squeezes margins and fears of an impending recession hold back demand.Companies on the S&P 500 index are expected to report a 6.8 per cent decline in first-quarter earnings compared with the same period a year earlier, according to analyst estimates compiled by FactSet. That would be the biggest fall since the more than 30 per cent plunge in the second quarter of 2020, which came as the rapid spread of Covid-19 led to a widespread…

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West Virginia has settled a lawsuit with e-cigarette maker Juul Labs for a total of $7.9 million, the state’s attorney general announced Monday. The company was accused of unfair, deceptive acts or practices in the advertising and marketing of Juul products in the state, specifically targeting teenagers. The lawsuit claimed Juul targeted these users through social media, influencer marketing and fashion bloggers and celebrities popular with teenagers. “This settlement puts companies like Juul in check to not copy big tobacco’s playbook and gear marketing strategies toward underage people,” West Virginia Attorney General Patrick Morrisey said. Morrisey said the court alleged…

BlackRock’s stock (NYSE: BLK) has lost 7% YTD as compared to the 7% rise in the S&P500 index over the same period. Further, at its current price of $656 per share, the stock is trading 13% below its fair value of $750 – Trefis’ estimate for BlackRock’s valuation. The company surpassed the consensus estimates in the fourth quarter of 2022, despite a 15% decrease in total revenues to $4.3 billion. The top line primarily suffered due to a drop in market valuations and the negative impact of foreign exchange movement, hurting the Assets under Management (AuM). Markedly, AuM reduced by…