Author Archives: Bloomberg

Fed wins year-end repo battle, but war to control rates drags on

FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. President Donald Trump has selected Columbia University professor Richard Clarida to be vice chairman of the Federal Reserve and Kansas bank commissioner Michelle Bowman to fill another vacancy on the Fed’s seven-member board. (AP Photo/Andrew Harnik, File)

The Federal Reserve may have succeeded in thwarting major year-end turmoil in funding markets, but 2020 is likely to bring a whole new set of concerns. The U.S. central bank has been injecting liquidity into markets through repurchase-agreement operations since ...

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T-Mobile lays claim to first nationwide 5G service

FTC T-Mobile

T-Mobile US Inc. has jumped to an early lead in the race to offer 5G service nationwide, a step toward showing it can be a serious competitor to larger rivals if it gains approval for its $26.5 billion takeover of ...

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Amazon lawsuit against Pentagon seen as an uphill fight

FILE - This March 27, 2008, aerial file photo, shows the Pentagon in Washington. Amazon is protesting the Pentagon’s decision to award a huge cloud-computing contract to Microsoft, citing “unmistakable bias” in the decision. Amazon’s competitive bid for the “war cloud” drew criticism from President Donald Trump and its business rivals. ((AP Photo/Charles Dharapak, File)

Amazon.com will likely argue that meddling by President Donald Trump cost the company a cloud-computing contract worth as much as $10 billion as it seeks to overturn a Pentagon decision to award the work to arch-rival Microsoft. Yet Amazon faces ...

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Schwab reportedly poised to acquire rival TD Ameritrade

A Charles Schwab Corp. branch in New York on Oct. 14, 2019. MUST CREDIT: Bloomberg photo by Michael Nagle.

    First, Charles Schwab Corp. upended the retail brokerage business by cutting commissions to zero. Now, it’s seizing on the turmoil it unleashed to possibly acquire one of its biggest rivals, TD Ameritrade Holding Corp. Just weeks after Schwab ...

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Citigroup adopts $15 minimum wage

Citigroup quietly boosted its minimum wage to $15 an hour, joining competitors in awarding raises to rank-and-file staff, after House Financial Services Committee Chair Maxine Waters prodded the firm. Unlike other major banks that announced similar moves in news releases, ...

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Trump getting more blame for economy

For the first time since President Donald Trump was elected, more Americans say the economy is getting worse than say it is getting better. A new Quinnipiac Poll shows 37% saying the economy is declining, compared with 31% who continue ...

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Bond yields sink to record lows again

Bonds continued their unrelenting rally on Wednesday, and although there’s no whiff of the panic that swept through markets late last week, the surge nonetheless drove benchmark yields down to unprecedented levels. The rate on 30-year U.S. Treasuries sank to ...

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