Melvin Capital Management is planning to shrink to $5 billion from the $8.7 billion it managed at the end of March, aiming to become more nimble to seek better returns, said a source familiar with the matter.
(Corrects headline and paragraph 1 to say the forecast cut was due to rising COVID-19 cases and road blockades in Chile. Removes reference to Chile protests, environmental concerns)
WASHINGTON (Reuters) -A White House adviser on Thursday suggested the United States could lower tariffs imposed on a host of non-strategic Chinese goods such as bicycles or apparel to help combat inflation.
Wall Street's ended lower on Thursday, with the Nasdaq dropping more than 2%, as investors reacted to Federal Reserve officials including Chair Jerome Powell offering further signposting of aggressive interest rate hikes this year.
The U.S. dollar rose from a one-week low on Thursday after Federal Reserve Chair Jerome Powell all but confirmed a half a percentage-point tightening at the policy meeting next month, including consecutive rate increases this year.
(Reuters) -Florida lawmakers gave legislative approval on Thursday to a bill stripping Walt Disney Co of its designation as a self-governing entity in an apparent response to its opposition to a new state law limiting discussion of LGBTQ issues in schools.
Wall Street's three main indexes closed lower on Thursday, giving up earlier gains as Federal Reserve officials including Chair Jerome Powell offered further signposting of aggressive interest rate hikes this year.
China receives US equipment to make advanced chips despite new rules - report
China receives US equipment to make advanced chips despite new rules-report
U.S. Treasury yields have peaked, say strategists for fourth straight month: Reuters poll
Google's expert in US antitrust trial defends billions paid to device makers
Post-strike Hollywood rushes to get film, TV sets humming
