NEW YORK (Reuters) – Fund manager Fidelity’s parent FMR LLC said on Tuesday that operating income rose 4.6% in 2020 as millions of individual customers opened accounts and the company cut expenses in a year of market volatility spurred by the coronavirus pandemic. For the year, operating income rose to $7.2 billion from $6.9 billion a year earlier, the closely […]
Read moreMarket looking at one of the most powerful recoveries ever seen: Expert Federated Hermes CIO Stephen Auth and BMO Capital Markets chief strategist Brian Belski offer insight into stimulus efforts, inflation fears and retail earnings. Target Corp. reported quarterly profit and revenue that exceed Wall Street expectations as COVID-19 fueled demand for same-day services. The Minneapolis-based big-box retailer reported net […]
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NEW DELHI (Reuters) – Experts say that the relatively low hospitalisation and fatality rates in India suggest the coronavirus pandemic is approaching its next phase – largely manageable local outbreaks.FILE PHOTO: A healthcare worker wearing personal protective equipment (PPE) collects a swab sample from a man during a rapid antigen testing campaign for the coronavirus disease (COVID-19), at a kiosk […]
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LONDON (Reuters) – The dollar was up for a fourth consecutive day on Tuesday, after a recent spike in bond yields challenged the market consensus for dollar weakness in 2021, but riskier currencies rose as bond markets calmed and stocks recovered.FILE PHOTO: A U.S. dollar note (bottom) is pictured alongside an Australian 10 dollar (L) and 20 dollar bill in […]
Read moreCHICAGO (Reuters) – One of the many myths about the minimum wage is that it mainly helps teenagers. That is false, but also ironic – because one of the groups that would be helped most by a higher minimum wage is seniors.Slideshow ( 2 images )The fate of the proposal by Democrats in U.S. Congress to boost the minimum wage […]
Read more* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh * Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv LONDON, March 2 (Reuters) – Sterling eased to its lowest level against the dollar in two and a half weeks on Tuesday, as the strengthening U.S. currency put a brake on gains that had taken the pound to 2-1/2-year highs last week. The pound […]
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LONDON (Reuters) – European shares paused on Tuesday as investors sought to guess the bond market’s next move, while weak German retail sales were a stark reminder of continued COVID-19 fallout on the region’s biggest economy.FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoOvernight falls in Asian […]
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Investors on Tuesday will be keeping a close watch on comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard. Gensler will testify before the Senate Banking Committee at 10 a.m. ET. Brainard will then deliver a speech entitled "U.S. Economic Outlook and Monetary Policy" via a virtual meeting hosted by the […]
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BEIJING (Reuters) – China is studying ways to manage capital inflows to prevent turbulence in the domestic market as the authorities are “very worried” about the risk of bubbles bursting in foreign markets, its top banking and insurance regulator said on Tuesday.FILE PHOTO: A man stands on an overpass with an electronic board showing Shanghai and Shenzhen stock indexes, at […]
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