Morgan Stanley plans June return of some traders to New York headquarters: CNBC

© Reuters. FILE PHOTO: A woman takes photos by the Morgan Stanley building in Times Square in New York (Reuters) – Morgan Stanley (N:) is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation. A Morgan […]

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Days from launch, Fed officials eye ‘Main Street’ program expansion

© Reuters. FILE PHOTO: Jerome Powell testifies before the House Financial Services Committee in Washington By Jonnelle Marte (Reuters) – Federal Reserve Chair Jerome Powell on Friday said central bank officials are open to expanding the Main Street Lending Program, which is days away from issuing its first loans, to businesses that may not currently […]

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Coronavirus sinks U.S. consumer spending; savings hit record high

© Reuters. FILE PHOTO: Closed luxury retail stores on 5th Avenue in Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the […]

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Argentina bonds pop as new debt offers raise deal hopes

© Reuters. FILE PHOTO: Argentine one hundred peso bills are displayed in this picture illustration By Adam Jourdan and Marc Jones BUENOS AIRES/LONDON (Reuters) – Argentine bonds jumped on Friday after the government and key bondholders exchanged new proposals to revamp around $65 billion in debt that edged the two sides closer together and bolstered […]

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Morgan Stanley planning to bring back traders to New York HQ in June: CNBC

© Reuters. FILE PHOTO: A woman takes photos by the Morgan Stanley building in Times Square in New York (Reuters) – Morgan Stanley (N:) is planning to start getting some traders to return to its New York headquarters in mid- to late-June, CNBC reported on Friday, citing people with knowledge of the situation. Morgan Stanley […]

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U.S. consumer spending tanks; savings hit record high

© Reuters. FILE PHOTO: Closed luxury retail stores on 5th Avenue in Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the […]

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Fed’s Mester says it’s hard to imagine quick V-shaped recovery

© Reuters. FILE PHOTO: Cleveland Federal Reserve Bank President Loretta Mester speaks in London NEW YORK (Reuters) – Cleveland Federal Reserve Bank President Loretta Mester said economic activity could pick up in the third quarter as businesses begin to reopen, but she cautioned the recovery is likely to be slow as consumers and businesses take […]

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‘Getting closer’: Argentina, creditors edge towards deal as new offers exchanged

© Reuters. FILE PHOTO: Argentine one hundred peso bills are displayed in this picture illustration BUENOS AIRES/LONDON (Reuters) – Argentina and its creditors have edged closer to a deal after a second round of proposals were exchanged between key bondholders and the government, bolstering hopes that an eventual accord can be struck to revamp around […]

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Fed’s Powell to speak as focus turns from crisis to bond-buying

© Reuters. FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell  speaks in Washington By Howard Schneider WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell will speak in a public webcast on Friday, with the details of the U.S. central bank’s coronavirus-era programs nearly complete and attention turning to the next phase of its response: a likely […]

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Plunging crude prices drag euro zone inflation to four-year low

© Reuters. FILE PHOTO: Coronavirus disease (COVID-19) outbreak in Mouscron BRUSSELS/FRANKFURT (Reuters) – Euro zone inflation continued to plunge on crashing oil prices but underlying price growth held steady, a hopeful sign for European Central Bank policymakers desperately trying to stave off the threat of deflation amid the bloc’s recession. Consumer prices in the 19 […]

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With ‘Main Street’ in view, Fed weighs risks of job, productivity shocks

2/2 © Reuters. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington 2/2 By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve officials have talked broadly about helping households and firms through the current economic crisis and quickly unleashed trillions of dollars in cash and credit guarantees to build a “bridge” […]

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Fed posts fee schedule for Municipal Liquidity Facility

© Reuters. FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York (Reuters) – The New York Federal Reserve Bank on Thursday posted a schedule of fees to be paid to BLX LLC, the administrative agent for its Municipal Liquidity Facility, the $500 billion borrowing program for states […]

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UK car output could fall to lowest level in decades after virus hit

© Reuters. FILE PHOTO: Parked cars are seen at the Vauxhall plant as the outbreak of the coronavirus disease (COVID-19) continues, in Ellesmere Port LONDON (Reuters) – British car production could slump this year to the lowest level in decades after the coronavirus pandemic forced factories to close and hit demand, according to an industry […]

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Debt relief plans for world’s poor countries inch forward

3/3 © Reuters. FILE PHOTO: World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in Beijing 2/3 By Marc Jones and Andrea Shalal LONDON/WASHINGTON (Reuters) – Plans for debt relief for the world’s poorest countries inched forward on Thursday as private creditors laid out a blueprint for their involvement, […]

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China parliament advances Hong Kong security law as U.S. tensions rise

3/3 © Reuters. FILE PHOTO: Anti-government demonstrators scuffle with riot police during a lunch time protest as a second reading of a controversial national anthem law takes place in Hong Kong 2/3 By Jessie Pang, Yew Lun Tian and Jeff Mason HONG KONG/BEIJING/WASHINGTON (Reuters) – China’s parliament approved a decision on Thursday to go forward […]

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Fed’s Kaplan says U.S. economy has bottomed, ties rebound to testing

© Reuters. FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank’s headquarters in Dallas By Ann Saphir (Reuters) – The U.S. economy has likely bottomed, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, but a healthy rebound depends on a massive increase in […]

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Chicago to begin limited reopening on June 3

Mayor Lorii Lightfoot announced a limited reopening of city businesses. | Sun-Times file The mayor’s decision will allow many businesses to re-open, including offices, hotels, and non-lakefront golf courses. Restaurants will be open for outdoor dining. Hair and nail salons will also be allowed to open. Chicago will begin a partial reopening of restaurants and […]

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Exclusive: U.S. taxpayers’ virus relief went to firms that avoided U.S. taxes

10/10 © Reuters. FILE PHOTO: Times Square is illuminated in blue as part of the “Light It Blue” initiative to honor healthcare workers, during the outbreak of the coronavirus disease (COVID-19) in New York 2/10 By Tom Bergin and Lawrence Delevingne LONDON/BOSTON (Reuters) – Last month Zagg (NASDAQ:) Inc, a Utah-based company that makes mobile […]

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Chicago outdoors and coronavirus: IDNR sites, Starved Rock, Wolf Lake, Morton Arb., boating, trout question

A file photo of dawn at Wolf Lake on the Illinois side at William W. Powers State Recreation Area, which reopens Friday, May 29. | Dale Bowman Compiling some of the changes and status updates coming around Chicago and Illinois outdoors with the easing of restrictions on Friday. Tomorrow begins the big expansion of access […]

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NY Fed’s Williams says central bank has tools more powerful than negative rates

© Reuters. FILE PHOTO: John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York NEW YORK (Reuters) – Negative interest rates are not a tool that makes sense for the U.S. central bank, New York Federal […]

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Mexican president disagrees with Bank of Mexico’s recession forecasts

© Reuters. FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Thursday he disagrees with the Bank of Mexico’s forecasts for a major recession caused by the coronavirus pandemic, and predicted that the […]

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World Bank chief calls for longer-term debt relief for poorest countries

© Reuters. FILE PHOTO: World Bank President David Malpass attends the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in Beijing WASHINGTON (Reuters) – World Bank Group President David Malpass on Thursday called for longer-term debt relief for the world’s 77 poorest countries, and said many would need a permanent and significant debt reduction to […]

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Despite rally, 2020 to be worst year for stocks in nearly a decade: Reuters poll

2/2 © Reuters. FILE PHOTO: New York Stock Exchange opens during COVID-19 2/2 By Rahul Karunakar BENGALURU (Reuters) – This year will be the worst for many world stock markets in nearly a decade at least, although a majority of equity strategists polled by Reuters say top indexes will not revisit lows struck this March […]

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