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Banking

Fed keeps rates unchanged, Powell hedges on possible end of tightening campaign

Central bank's policy rate remains in 5.25%-5.50% rangeFed says economy grew at 'strong' pace in third quarterTraders add to bets that Fed is done raising ratesWASHINGTON, Nov 1 (Reuters) - The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint.Fed Chair Jerome Powell said the situation remained something of a riddle, with U.S. central bank officials willing to raise rates again...
Investing

Republican-led US states appeal ruling allowing Biden ESG investing rule

The U.S. Capitol dome is seen from the Russell Senate Office Building on Capitol Hill in Washington, U.S., April 19, 2023. REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsOct 26 (Reuters) - A group of Republican-led U.S. states on Thursday said they would appeal a Texas-based federal judge's decision rejecting their challenge to a rule from President Joe Biden's administration allowing employee retirement plans to consider environmental, social and governance (ESG) issues in investment decisions.The 26 states, led by Texas and Utah, filed a notice of appeal in federal court in Amarillo....
Banking

Exclusive: Barclays to lay off dozens of US consumer bank employees – source

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Oct 25 (Reuters) - Barclays Plc (BARC.L) is laying off dozens of staff in its U.S. consumer banking division as part of a global drive to cut costs, according to a source familiar with the situation.The redundancies account for about 3% of employees in the bank's U.S. consumer division, said the source, who declined to be identified discussing personnel matters. The staff were informed earlier this week, the person said."We review...
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