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GLOBAL MARKETS-Inflation woes spook US stocks; USD, Treasury yields jump


GLOBAL MARKETS-Inflation woes spook US stocks; USD, Treasury yields jump
Reuters
2 hrs ago
Popular Searches
U.S. Treasury yields jump on inflation data
Expectations of rising real rates boost dollar
World FX rates https://tmsnrt.rs/2RBWI5E
By Koh Gui Qing
NEW YORK, May 12 (Reuters) - U.S. stocks slumped on Wednesday and benchmark Treasury yields jumped after data showed consumer prices unexpectedly rose by the most in nearly 12 years in April, prompting bets on earlier interest rate hikes.
Moments after data showed the U.S. consumer price index jumped 0.8% last month, outpacing a 0.2% forecast, the dollar spiked, and by midday had further extended its gains as expectations of rising real interest rates lifted the currency. ....

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GLOBAL MARKETS-Inflation woes hobble US stocks, dollar cling to lows


GLOBAL MARKETS-Inflation woes hobble US stocks, dollar cling to lows
Reuters
3 days ago
Popular Searches
Inflation angst lingers across assets
Commodities take breather after rapid rise
Global asset performance http://tmsnrt.rs/2yaDPgn
World FX rates http://tmsnrt.rs/2egbfVh
By Koh Gui Qing
NEW YORK, May 11 (Reuters) - U.S. stocks fell on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares and hobbled the dollar, which struggled at a 2-1/2-month low.
Technology stocks were among the biggest losers, mirroring a sell-off in other technology stocks overnight in China, where talk of tighter regulation sent shares skidding. ....

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U.S. Justice Department probing Kabbage, fintechs over PPP loan calculations -sources


U.S. Justice Department probing Kabbage, fintechs over PPP loan calculations -sources
By Koh Gui Qing and Pete Schroeder
Reuters
WASHINGTON (Reuters) -The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage Inc may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters.
The investigation, led by the Justice Department s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said. ....

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Exclusive: U.S. Justice Department probing Kabbage, fintechs over PPP loan calculations - sources


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WASHINGTON (Reuters) - The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage Inc may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters.
The investigation, led by the Justice Department s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said.
A fourth person with direct knowledge of the matter said a number of fintechs were being probed over the PPP tax issues but declined to provide names. ....

United States , Sonya Hepinstall , Chris Prentice , Pete Schroeder , Kabbage Inc , Justice Department , Paycheck Protection Program , Small Business Administration , Spokespeople For American Express Co , Michelle Price , Koh Gui Qing , ஒன்றுபட்டது மாநிலங்களில் , கிறிஸ் ப்ரெஂடிஸ் , பீட் ஸ்க்ரோடர் , நீதி துறை , சம்பள காசோலை ப்ரொடெக்ஶந் ப்ரோக்ர்யாம் , மைக்கேல் ப்ரைஸ் , கோ குய் குயிங் ,