Beige Book notes trade tensions slow US economy
The Fed Beige Book shows modest growth through September and October despite manufacturing pressure from trade disputes and weak global growth, with weather hurting farmers. The report, cited as traders anticipate a third rate cut at the Oct 29-30 meeting, emphasizes persistent trade tensions and slower growth as headwinds. Exelon Utilities CEO Anne Pramaggiore retires amid a federal probe into lobbying at the Illinois Capitol. Cubic and Google partner to enable Android pay transit taps, integrating with Clipper in the San Francisco Bay Area to simplify rides for unbanked riders and others.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Fed
Exelon Utilities
Anne Pramaggiore
Illinois State Capitol
Pramaggiore
Exelon
ComEd
Martin Sandoval
Chicago
FBI
Illinois Senate
The
Tribune
Crisis Communications
Jean Medina
Cubic Corp
Google
Cubic
Google Pay
San Francisco Bay Area
Ambarish Kenghe
London
New York
Miami
Bank of America posts lower Q3 profit amid First Data write-down
Bank of America reported a third quarter profit of 5.8 billion dollars, down from 7.2 billion a year earlier, as it booked a non cash charge related to the First Data venture. Excluding the charge, earnings were 7.5 billion dollars, beating Wall Street estimates. Net interest yield slipped to 2.41 percent while loans grew, and CEO Brian Moynihan cautioned on a moderating economy. Shares rose over 2 percent before the market opened.
MENTIONED IN THIS ARTICLE
NEW York — Bank of America
First Data
Charlotte
Wall Street
Zacks Investment Research
Bank of America
Fiserv
Federal Reserve
Bofa
Brian Moynihan
SpaceX seeks permit for 30000 more Starlink satellites
Hawthorne based SpaceX has asked international regulators for permission to operate as many as 30000 satellites at a specified frequency and orbit. The filing notes prior approval for about 12000 satellites and 60 launched in May. SpaceX aims to scale Starlink to meet rising demand and finance future ventures.
MENTIONED IN THIS ARTICLE
Spacex
Hawthorne
Calif
International Telecommunication Union
NASA
International Space Station
Elon Musk
Musk
Starlink
Starship
Red Planet
Boca Chica Beach
Texas
Cocoa
Fla
Laura Forczyk
Astralytical
London
OneWeb
Japan
SoftBank Group Corp
Richard Branson
Virgin Group
Jeff Bezos
Amazon.com Inc
Federal Communications Commission
Stocks Slip as Retail Data Misses Fed Rate Cut Hopes
U S stocks fell led by technology and energy while Treasuries rose after retail sales unexpectedly declined. Bank of America jumped on strong fees, Netflix eyed post close, and the dollar softened on renewed rate cut expectations. Global shares wavered as trade talks and Hong Kong protests weighed, with oil and gold drifting higher.
MENTIONED IN THIS ARTICLE
U.S
Treasuries
Bank of America
Netflix
Federal Reserve
Jeff Mills
Bryn Mawr Trust Co
Donald Trump
China
Xi Jinping
Chile
Asia
Washington
Ankara
Syria
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United States
Boston
Steven Senne
Germany
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