U.S. should cede control of Fannie and Freddie: Mnuchin
NEW YORK/WASHINGTON (Reuters) – U.S. President-elect Trump’s nominee for Treasury Secretary, Steven Mnuchin, on Wednesday waded into the long-running battle over the future control of Fannie Mae and Freddie Mac, the largest players in the U.S. home mor…
Wall St. posts big Nov gains; mostly dips on day despite energy
(Reuters) – U.S. stocks ended with big gains for November on Wednesday thanks to a sharp post-election rally but finished the day mostly lower as drops in utilities and technology offset energy’s surge.
Wells Fargo general counsel postpones planned retirement
(Reuters) – James Strother, Wells Fargo & Co’s general counsel, who had originally planned to retire at year-end, will stay on indefinitely in the position to deal with fallout from the bank’s sales scandal, according to a bank spokesman.
Oil jumps over 10 percent as OPEC finalizes output cut deal
NEW YORK (Reuters) – Oil soared more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world’s largest producers agreed to curb production for the first time since 2008 in a bid to support prices.
Trump’s Treasury pick targets taxes, trade reforms: media
WASHINGTON (Reuters) – President-elect Donald Trump’s pick to lead the U.S. Treasury, Steven Mnuchin, said on Wednesday the administration would make tax reform and trade pact overhauls top priorities as they seek a sustained pace of 3 percent to 4 per…
Philip Morris looks beyond cigarettes with alternative products
LONDON (Reuters) – Philip Morris International , the world’s largest international tobacco company, said it could eventually stub out cigarette sales as it launched an alternative product in Britain on Wednesday.
Goldman shares hit highest level since financial crisis in post-election rally
(Reuters) – Shares of Goldman Sachs Group Inc on Wednesday climbed to their highest levels since the financial crisis, as the bank benefited from a post-U.S. presidential election rally.
Actelion shares fall on report it rejects J&J offer
ZURICH (Reuters) – Shares in Swiss biotech company Actelion fell more than 6 percent after news outlet streetinsider.com reported on Wednesday the company had rejected a full takeover offer by U.S. healthcare group Johnson & Johnson and may sell a unit.
Fed speakers have focused too much on rate increases: Powell
WASHINGTON (Reuters) – Federal Reserve policymakers should put less emphasis publicly on the short-term outlook for interest rate increases and more on the economics driving monetary policy and the uncertainty of forecasts, Fed Governor Jerome Powell s…
U.S. private jobs, consumer spending data support Fed rate hike
WASHINGTON (Reuters) – U.S. private employers stepped up hiring in November and consumer spending increased last month, the latest signs of economic strength that could further cement the case for an interest rate hike from the Federal Reserve next mon…
