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Exclusive-Iran withheld launchers for missiles sent to Russia, sources say

By Jonathan Landay, Phil Stewart and Anthony Deutsch WASHINGTON (Reuters) – Iran did not include mobile launchers with the close-range ballistic missiles that Washington last week accused Tehran of delivering to Russia for use against Ukraine, according to three sources with knowledge of the matter. The sources – a European diplomat, a European intelligence official and a U.S. official – said it was not clear why Iran did not supply launchers with the Fath-360 missiles, … Read more…

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Swiss regulator investigating Credit Suisse’s final months, report says

ZURICH (Reuters) – Swiss financial market regulator FINMA ordered an audit into Credit Suisse’s handling of events leading to its demise in 2023, when the bank was acquired by its longtime rival UBS, Swiss newspaper SonntagsZeitung reported on Sunday. According to the paper, FINMA is looking at the 15 months prior to the state-orchestrated merger in March last year, for which purpose it said close to a dozen current or former employees of the two … Read more…

Powell’s Resolve – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Word on the Street is Picking Up Steam….The Federal Reserve ‘could’ cut a half point. According to the CME FedWatch tool Friday afternoon “there is a 47% chance that the Fed would cut rates to a range of 4.75% to 5%.” Both the Nasdaq Composite and S&P 500 showed week ending gains with the Nasdaq Composite and S&P 500 surging 6% and 4%, far better than the first four … Read more…

Wall St slips as investors pause after rate cut-fuelled rally

By Johann M Cherian and Purvi Agarwal (Reuters) – Wall Street’s main indexes slipped on Friday as investors held back after a rally in the previous session that was sparked by an oversized interest rate cut by the Federal Reserve. The S&P 500 and the Dow hovered near their record highs and were on track for weekly gains of over 1%, along with the tech-heavy Nasdaq. The Dow Jones Industrial Average fell 91.67 points, or … Read more…

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Nike veteran Hill to replace Donahoe as CEO; shares jump  

By Juveria Tabassum, Nicholas P. Brown (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition. The company’s shares rose 8% in after-hours trading. Hill was at Nike for 32 years and held senior leadership positions across Europe and North America where he helped expand … Read more…

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US FDA approves Zevra’s treatment for rare genetic disease

(Reuters) -The U.S. Food and Drug Administration has approved Zevra Therapeutics’ drug for a rare and fatal genetic disorder, making it the first treatment to get a nod for the condition, the health regulator said on Friday. The company has been trying for years to bring the drug to market after the FDA previously declined to approve it and extended a review of the treatment. The oral drug, branded as Miplyffa, has now been approved … Read more…

Dollar firms against yen after BOJ cautious tone over rate hikes

By Chibuike Oguh and Linda Pasquini NEW YORK/LONDON (Reuters) -The dollar strengthened against the yen on Friday after the Bank of Japan left interest rates unchanged and indicated that it was not in a hurry to hike them again. The BoJ could afford to spend time eyeing the fallout from global economic uncertainties, Governor Kazuo Ueda said in a press conference following the central bank’s move, adding that its monetary policy decision will be based … Read more…

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World Bank climate finance reaches record $42.6 billion in fiscal 2024

WASHINGTON (Reuters) -The World Bank Group said on Thursday it delivered a record $42.6 billion in climate finance during fiscal 2024, a 10% increase over the $38.6 billion the prior year and close to its target of a 45% share of total financing devoted to climate projects. The $4 billion increase in climate financing during the fiscal year ended June 30 shows progress towards the bank’s goals, but is well short of the trillions of … Read more…

Trump Media shares face potential sell-off as insider selling restrictions lift

By Medha Singh and Noel Randewich (Reuters) – While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains. Trump Media & Technology Group is 57% owned by the Republican presidential candidate who told reporters last Friday that he does not plan to sell his shares. Other major stakeholders who could soon sell … Read more…

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Amazon adds chatbot for its sellers, boosting automation

By Greg Bensinger (Reuters) – Amazon.com announced on Thursday a new artificial intelligence application that it says will help its independent sellers with sales metrics, inventory maintenance and product advertising, among other things. The move is part of a broader Big Tech effort to employ the technology for greater automation. The software, dubbed Amelia, can provide instantaneous answers to broad questions such as how to prepare for the holidays and how a seller’s business is … Read more…