Author: Press Room

© Reuters. NEW YORK – The euro saw a slight uptick against the US dollar today, with the trading pair reaching 1.0883 amid a mix of economic indicators from both regions. The Eurozone’s current account results exceeded expectations, which provided some support to the single currency, while the US dollar struggled to gain ground following a set of weaker-than-anticipated economic reports. Earlier today, the EUR/USD pair traded close to a stable level of approximately 1.0850. The subdued demand for the US dollar followed reports of an increase in US jobless claims to around 231,000 and a dip in industrial production…

More than 100 former members of the Obama and Biden administrations have sent a letter to the White House praising President Biden’s “moral clarity, courageous leadership and staunch support of Israel,” in an effort to defend Mr. Biden’s policies amid roiling dissent within the administration.The letter backs the president’s request for $14.3 billion in new security assistance for Israel and affirms his opposition to a cease-fire, challenging anonymous demands from hundreds of officials across the Biden administration that Israel halt its military offensive in the Gaza Strip.It was signed by several prominent Democratic figures, including Ron Klain, Mr. Biden’s former…

Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own. The bottom line: CrossCountry Mortgage is a very strong mortgage lender overall, particularly for borrowers looking for affordable mortgage options or those who might not qualify elsewhere. CrossCountry offers a wide range of mortgages, including a variety of government-backed options.It accepts non-traditional credit (such as rent or utility payment history) from borrowers who have no credit score on some of its loans, and it doesn’t set minimum credit…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Citigroup plans to announce on Monday the first big round of lay-offs in a sweeping restructuring that will eventually result in thousands of positions being eliminated from the bank, according to sources close to the plans.The restructuring, which had been internally codenamed Project Bora Bora, was in its early stages, these people said, and is far from over. Citi, which is doing a top down review of its organisational structure, has only reviewed about 1 per cent of the positions at the…

© Reuters. FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo By Lewis Krauskopf NEW YORK (Reuters) – Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? That’s the question investors are asking as the heads into the close of the year with fresh highs coming into view. Signs of cooling inflation have fueled hopes that the Federal Reserve is done raising interest rates, helping extend a rally that has seen the S&P 500 gain over 9% since…

© Reuters. FILE PHOTO: A Meta logo is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. REUTERS/Eric Gaillard/File Photo By Katie Paul NEW YORK (Reuters) – Meta (NASDAQ:)’s head of augmented reality software is stepping down from his role, a company spokesperson told Reuters on Friday, raising questions about the company’s progress in developing a custom operating system for its planned AR glasses. VP of Engineering Don Box announced the end of his tenure at Meta internally this week, without elaborating on what he would do next, according to a…

WASHINGTON (Reuters) – The U.S. will fund nine projects with $169 million from last year’s climate bill to speed manufacturing of heat pumps, systems that can heat and cool homes and businesses more efficiently, the Energy Department said on Friday. The awards are the first from the department’s authorization invoked by President Joe Biden using emergency authority on the basis of climate change to use the Cold War-era Defense Production Act (DPA) to boost spending on clean energy technologies. “Getting more American-made electric heat pumps on the market will help families and businesses save money with efficient heating and cooling…

Mario Tama/Getty Images News Citigroup (NYSE:C) is set to announce on Monday the first big round of layoffs and job assignments as part of its corporate overhaul, the Financial Times reported Friday, citing people familiar with the matter. The bank’s massive restructuring, code-named “Project Bora Bora,” will eventually result in tens of thousands of eliminated positions, the people told the FT. At the end of Q3 2023, Citi (C) had 240K employees, up from 238K a year before. The planned move comes after the company in September said it’s cutting management layers to speed up decision-making, increase accountability, and bolster…

© Reuters. NEW DELHI – The Reserve Bank of India (RBI) has reported a decline in India’s foreign exchange reserves, with a net decrease of $460 million, bringing the total to $590.32 billion as of the week ending on Thursday. This shift interrupts a previous increase in reserves due to active measures taken by the RBI to support the rupee amidst global economic uncertainties, which had seen gains of $7.3 billion over two weeks. The change in reserves is primarily attributed to the central bank’s currency market interventions aimed at managing the volatility in foreign exchange rates. Despite the overall…

With less than two months until the first votes in the battle for the 2024 Republican presidential nomination, two new polls in the first primary state show sustained momentum for former ambassador and former South Carolina Gov. Nikki Haley.However, the surveys in New Hampshire, which holds the second overall contest in the GOP nominating calendar following the Iowa caucuses, reaffirm that former President Donald Trump remains the dominant front-runner.The polls also suggest that Trump’s supporters are more enthusiastic and committed about voting for their candidate compared to those backing the former president’s rivals for the nomination.Trump stands at 46% support…