Wednesday, 13 October 2021

Reuters Business: S&P 500, Nasdaq rise with growth stocks; JPMorgan a drag

S&P 500, Nasdaq rise with growth stocks; JPMorgan a drag

The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.

Higher inflation squeezing U.S. consumers as food prices, rents accelerate

U.S. consumer prices increased solidly in September as Americans paid more for food, rent and a range of other goods, putting pressure on the Biden administration to urgently resolve strained supply chains, which are hampering economic growth.

U.S. central bank governor calls for better access to credit for Native Americans

Federal Reserve Governor Lael Brainard said Wednesday that U.S. financial regulators will seek to improve Native American communities' access to credit.

How a historic Social Security hike will affect Americans

A 6 percent raise does not come along often these days for most Americans, but a bump of that magnitude in Social Security benefits is on the way for 2022.

S&P 500 rises with growth stocks; JPMorgan a drag

The S&P 500 ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell and weighed on the index even though the bank beat earnings expectations.

Union Pacific to comply with COVID vaccine deadline for U.S. workers

Union Pacific Corp said on Wednesday it will require its 31,000 U.S. employees to be vaccinated under President Joe Biden's executive order requiring that federal contractors mandate vaccines by Dec. 8, except for employees who receive an approved exemption.

Brazil's Itau lures 10 mln clients to its digital bank

Brazil's biggest lender Itau Unibanco Holding SA has lured 10 million consumers to its digital bank iti, tripling its client base since January, a bank executive said in an interview on Wednesday.

U.S. SEC adopts rule on filing fee disclosure and payment methods

The U.S. Securities and Exchange Commission (SEC) on Wednesday said it voted to adopt a rule modernizing the process for paying filing fees when operating and investment companies engage in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions.

Holocene Advisors says Merck's offer undervalues Acceleron

Investment management firm Holocene Advisors said it will not tender its shares in Acceleron Pharma Inc into Merck & Co's proposed $180 per share offer for the drugmaker, as it significantly undervalues the company.

U.S. planning offshore wind farms from Maine to California

The United States plans to hold up to seven offshore wind auctions in the next four years and will extend its ambitions to areas that have yet to be developed such as off the coast of California and in the Gulf of Mexico, a Biden administration official said on Wednesday.

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