(Bloomberg) -- Federal Reserve Bank of Chicago President Charles Evans said the U.S. central bank shouldn’t be shy about letting inflation run, as it has promised, above its 2% target in order to make up for years of undershooting that goal. “If we try to fine-tune a very modest inflation overshoot of only a 10th or two, we run a very large risk...
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LONDON (Reuters) - British Prime Minister Boris Johnson announced a new national COVID-19 lockdown in England on Monday, instructing people to stay at home to contain a more contagious variant of the coronavirus. "We must therefore go into a national lockdown, which is tough enough to contain this variant," Johnson said in a televised address. "That means the government is once again...
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(Reuters) - The joint venture of Amazon.com Inc (NASDAQ:AMZN), Berkshire Hathaway (NYSE:BRKa) Inc and JPMorgan Chase & Co (NYSE:JPM) will cease to exist at the end of February, three years after the companies came together hoping to clamp down escalating healthcare cost. The inception of Haven had jolted the shares of several healthcare companies that feared that Amazon might disrupt traditional insurance...
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By Yasin Ebrahim Investing.com – The Dow slipped Monday as a close race in the Georgia Senate runoff elections raised concerns over the prospect of a Democrat-controlled Congress that would likely usher in higher taxes at a time when the new strain of Covid-19 continues to spread. The Dow Jones Industrial Average fell 1.25%, or 382 points, though was had fallen 724 points intraday....
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By Paresh Dave and Ayanti Bera OAKLAND, Calif. (Reuters) -More than 200 employees and contractors at Google parent Alphabet (NASDAQ:GOOGL) Inc in the United States and Canada have formed a labor union to promote workplace equity and ethical business practices, the group's elected leaders said on Monday. The "Alphabet Workers Union" will...
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By Christiana Sciaudone Investing.com -- Electric-car battery developer Quantumscape Corp (NYSE:QS)'s shares plunged as much as 40% on Monday, the largest drop in its short life. QuantumScape, for those who don't know, was until now an almost $50 billion market cap company after shares had surged more than 250% since its Nov. 27 merger with a blank-check company. That valuation put it above...
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LONDON (Reuters) - The British arm of German discount supermarket group Aldi said on Monday its sales rose 10.6% year-on-year in the four weeks to Dec. 24, with a spike in demand for premium products helping deliver a record Christmas performance. All UK supermarket groups benefited in the run-up to Christmas from unprecedented...
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BEIJING (Reuters) - Cash-strapped Chinese startup Byton, Apple (NASDAQ:AAPL) assembler Foxconn and the Nanjing Economic and Technological Development Zone have agreed to start building electric sport-utility vehicles in 2022, according to a statement on Monday. Young Liu, chairman of Foxconn said in the statement that the partnership with Byton will be a key part in Foxconn's strategy in electric vehicle (EV) industry....
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By Christiana Sciaudone Investing.com -- Stanley Black & Decker (NYSE:SWK) dropped 4% as intensifying competition prompted a downgrade. The stock was lowered to a sell-equivalent from neutral with a price target lowered to $175 from $187 by Bank of America (NYSE:BAC) analyst Ross Gilardi, according to StreetInsider. Rival Techtronic is growing faster and fortifying its position at the Home Depot ...
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By Christiana Sciaudone Investing.com -- L Brands (NYSE:LB) popped after JPMorgan (NYSE:JPM) said it still sees hope for the underwear maker. Shares rose 7% to their highest in about three years. Analyst Matthew Boss maintained an overweight rating on the Victoria's Secret parent, while nudging the price target to $54 from $53, according to TheFly. L Brands has more than doubled over the...
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