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Wells Fargo & Company has almost doubled its asset base through the integration of Wachovia, consolidating its position as one of the largest diversified financial institutions in the United States. The San Francisco-based bank now operates thousands of branches nationwide and manages a sizable network of financial advisors that serve retail, commercial and investment clients. […]
Alibaba Group has led a fresh funding round of roughly $100 million for X Square Robot, a Shenzhen-based developer of humanoid machines. The investment, arranged through Alibaba Cloud, lifts the startup’s total financing to about $280 million since its launch in December 2023. Capital targets embodied AI and wider sales network Chief Operating Officer Yang […]
The average interest rate on a home equity line of credit (HELOC) remains below 9%, and several lenders are promoting short-term introductory rates that start near 4%. These offers give homeowners a way to tap equity without refinancing their primary mortgage, which typically carries a lower fixed rate locked in before 2022. Average pricing and […]
Congressional negotiations over a short-term spending package have stalled as Democratic leaders insist that any measure keeping the federal government open must also preserve key Affordable Care Act (ACA) tax credits due to expire on December 31. Democrats link health provisions to stopgap funding Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, […]
Soybean prices advanced across the board on Friday, buoyed by smaller U.S. yield projections and a fresh export sale of soybean oil to South Korea. Front-month soybean contracts closed 12 to 13 cents higher, while November futures finished the session up 19 ¼ cents from the previous Friday. The national average cash price rose 13 cents […]
The Panama Canal Authority (ACP) has approved two major infrastructure projects designed to shield the waterway from recurring droughts that have curtailed traffic over the past two years. A multimodal land bridge with a dedicated natural-gas-liquids pipeline and the construction of the Río Indio dam are expected to broaden cargo options and reinforce the canal’s […]
Sachem Head Capital Management has opened a new front in the food-distribution sector, calling on Performance Food Group to weigh a merger with rival US Foods while nominating four directors for election at the 2025 annual meeting. Activist fund moves to reshape the board On 21 August, New York–based Sachem Head delivered a nomination notice […]
The United States and Japan have agreed on a profit-sharing arrangement that will guide roughly $550 billion in Japanese-funded projects across the United States. Commerce Secretary Howard Lutnick confirmed the framework during an interview on CNBC, outlining how returns will be divided and how the money will be deployed. How the profit split will work […]
U.S. equity benchmarks climbed on Wednesday after government data showed an unexpected slowdown in producer inflation, easing pressure on Treasury yields and reinforcing expectations for future Federal Reserve rate cuts. Indexes Edge Higher as Inflation Gauge Cools Shortly after midday in New York, the S&P 500 gained 0.46 percent, setting a fresh record. The Nasdaq […]
The cost of protecting a single-family home in the United States has climbed to a record average of $2,370 per year, according to new figures from ICE Mortgage Technology. The data show a 70 percent jump in premiums over the past 5½ years, outpacing gains in mortgage rates, property taxes, and home prices. Rising premiums enter buyer […]
NEW YORK — iCapital has taken a majority stake in liquidity-technology provider Tangible Markets, outlining a plan to bring regular trading opportunities to investors holding stakes in traditionally illiquid alternative funds. Strategic move targets private market liquidity gap The agreement gives iCapital an undisclosed equity position in Tangible Markets, a New York-based firm that operates […]
U.S. equities showed a split performance at Wednesday’s midday session as investors weighed another subdued reading on wholesale prices and positioned for a closely watched consumer inflation report due Thursday. Nasdaq gains, Dow retreats in midday trading The technology-heavy Nasdaq Composite traded in positive territory, extending its recent momentum. By contrast, the Dow Jones Industrial […]