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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Plus, price rises in services in the US are making the Federal Reserve’s decision-making over interest rates more complicated....
...The US services sector grew less than forecast in March, data from the Institute for Supply Management showed on Wednesday....
...Pressures in good, services and shelter (food and energy are less of a problem now) are abating, or already have....
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...Inflation of some goods and services prices remains sticky. Petrol costs, Americans’ most visible gauge of price pressures, have risen 15 per cent since the start of January....
...Instead, inflation came in strong in services categories that have looked persistently hot for a while: shelter, medical care and auto services....
Shorts stink a bit less at least
And other financial market monsters
...In response to the FT story, Republican Senator Josh Hawley also said McKinsey should no longer be able to obtain federal work....
...A slim minority of nine Federal Open Market Committee officials favour making three cuts this year, according to projections issued last week....
...MainFT, last night: The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants...
...Between 2014 and 2016 he was active in eastern Ukraine as a fighter for Russian-led separatists in Donetsk region, according to the German federal prosecutor....
...After a stronger-than-expected CPI print on Wednesday, Bank of America and Deutsche Bank are both now predicting that the Federal Reserve won’t cut US rates until this December....
...The US Federal Deposit Insurance Corporation is working on proposals aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes....
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...But you are in the FOMC [Federal Open Market Committee], sitting around the table, you’re saying inflation has come down from the peak in 2022. That’s great. And went down from 9 per cent to roughly 3....
...The US Federal Trade Commission has voted to ban non-compete agreements across the US economy....
...US Federal Reserve chair Jay Powell has signalled that the cycle of rate rises may be over....
...Examples of areas where inflation has stayed stubbornly high include shelter and so-called “transportation services”, which includes car insurance....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
...Powell suggested it was too soon to know whether recent signs of stickier than expected inflation, especially in the services sector, would last. “We’re going to let the data show....
...Ryan, a tax services firm, filed a lawsuit shortly after the regulator’s vote, arguing that the ban would impose an “extraordinary burden” on businesses....
...The Sorrento dust-up comes also amid a broader scandal that has engulfed the Houston federal bankruptcy court....
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