Boeing proposes 30% wage hike to striking workers, calls it its ‘final’ offer

By Allison Lampert (Reuters) -Boeing upped its wage proposal to thousands of striking workers on Monday, offering a 30% general wage increase over four years in what it called its “best and final” offer as the strike drags on. The U.S. planemaker also offered to reinstate a performance bonus, improve retirement benefits and double a ratification bonus to $6,000, if the workers accept by Friday, according to a letter sent to union officials by the … Read more…

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Wall St rises after Fed policymakers back rate cuts

By Echo Wang (Reuters) -Wall Street’s main indexes rose in mid-afternoon on Monday as investors assessed whether a trend will develop in the week following the Federal Reserve’s rate cut. The gains come amid comments from Fed policymakers and steady factory activity data, building on last week’s sharp market rally after the central bank’s decision to lower interest rates. The Fed’s pivotal move last week lifted major indexes to monthly gains, defying the historical trend … Read more…

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China ex central bank adviser proposes $1.4 trillion in stimulus measures

HONG KONG (Reuters) – China could issue ultra-long-term treasury bonds within two years to generate at least 10 trillion yuan ($1.4 trillion) worth of stimulus to the economy, a former central bank adviser said on Saturday, according to state media. China should introduce a basket of measures, focusing on enhancing social protections, buying unsold apartments for affordable housing and speeding up urban construction, Liu Shijin, former vice president of Development Research Center of the State … Read more…

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SEC approves BlackRock’s spot bitcoin ETF options listing

(Reuters) -The U.S. Securities and Exchange Commission has approved listing and trading of options for asset manager BlackRock’s spot bitcoin exchange-traded fund on the Nasdaq. Options trading for BlackRock’s fund iShares Bitcoin Trust has been approved with ticker symbol “IBIT”, the regulator said in a notice on Friday. The index options – listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin – on a bitcoin index would give institutional investors and … Read more…

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…