Citigroup profit beats estimates on gains in consumer lending

(Reuters) – Citigroup Inc topped expectations for quarterly profit on Monday as a tight lid on costs and strength in consumer lending helped the third-largest U.S. bank counter weakness in its trading business. New York-based Citi is the first major bank to report second-quarter earnings. Fellow Wall Street titans JPMorgan Chase & Co, Bank of […]

Oklahoma, J&J to wrap up first trial over opioid crisis

(Reuters) – Oklahoma‚Äôs attorney general is expected on Monday to urge a judge to find Johnson & Johnson responsible for flooding the market with painkillers and fueling the U.S. opioid epidemic, as the first trial in nationwide litigation over the drug crisis comes to an end. The Johnson & Johnson logo is displayed on a […]

U.S. Fed seen launching repo facility in early 2020: Deutsche Bank

(Reuters) – The Federal Reserve may launch a policy tool to lend to banks using Treasuries and other securities as collateral in early 2020 with possible testing to begin later this year, a Deutsche Bank strategist said. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah […]

American Airlines extends Boeing 737 MAX cancellations for fourth time

(Reuters) – American Airlines Group Inc (AAL.O) said on Sunday it is extending for a fourth time cancellations of about 115 daily flights into early November due to the ongoing grounding of the Boeing Co (BA.N) 737 MAX jets. FILE PHOTO: American Airlines Boeing 737 MAX jets sit parked at a facility in Tulsa, Oklahoma, […]

Exclusive: Barneys New York explores options that include bankruptcy – sources

NEW YORK (Reuters) – U.S. luxury department store operator Barneys New York Inc is exploring options that include a bankruptcy filing, as it struggles with high rents and changing consumer tastes, people familiar with the matter said on Saturday. FILE PHOTO: People walk by a Barneys New York retail store in New York October 24, […]