Categoria: News Finance
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Fed cuts by a quarter point, indicates fewer reductions ahead
WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional cuts in coming years. In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target…
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US wholesale inflation surged higher in November
US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.4% on a monthly basis and 3% for the 12 months ended in November,…
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Economy faces ‘some potential storms’ in 2025, Moody’s chief economist says
Trump’s universal tariff proposals could cause prices on clothing, toys, furniture, household appliances, footwear and travel goods to skyrocket. The economy is doing “exceptionally well” as President-elect Donald Trump gets ready to enter the White House, according to Moody’s Analytics chief economist Mark Zandi. Zandi, speaking at the Consumer Federation of America’s financial services conference on Wednesday, noted some of the glowing areas: Gross domestic…
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UniCredit CEO says $10.5 billion Banco BPM bid is fair as offer becomes binding
UniCredit (CRDI.MI), opens new tab on Friday filed its buyout offer for rival Banco BPM BAMI.MI with Italy’s market regulator, and CEO Andrea Orcel said the price was adequate. The filing makes the 10-billion-euro ($10.5 billion) all-share offer, which UniCredit announced on Nov. 25, binding and sets a price floor. UniCredit also applied to relevant authorities for regulatory approval.…