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BNY CEO optimistic on US economic growth, AI potential

NEW YORK (Reuters) -BNY expects a U.S. economic growth boost under the new Donald Trump U.S. presidency and is investing in artificial intelligence and services for digital assets to enhance solutions for its clients, CEO Robin Vince said on Wednesday. "Growth is good for the U.S. economy and President-elect Trump has been very clear that he believes in growth," he said during an interview at the Reuters NEXT conference in New York. "We're pro-growth ... our clients want to be able to take advantage of the opportunities here," he added.

US inflation ticked up last month as some price pressures remain persistent

Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April.

Inflation Gives Fed Green Light for Rate Cut in December

(Bloomberg) -- Fresh inflation figures are likely to make the Federal Reserve more cautious about the pace of interest-rate cuts — but not quite yet.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamCity Hall Is HiringSan Francisco, Paris Named Best Cities for Urban TransportationInvestors still widely expect the US central bank to cut borrowing costs by a quarter

Exxon Raises Capital Spending as Worldwide Oil Glut Looms

(Bloomberg) -- Exxon Mobil Corp. will raise capital spending next year as its $60 billion purchase of Pioneer Natural Resources Co. increases its oil-production plans, threatening to worsen next year’s expected crude glut.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Ret

US Inflation in Line With Forecasts Solidifies Bets on Fed Cut

(Bloomberg) -- US consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Office Policy Under TrumpThe so-

Gold Holds Advance After US Inflation Data Affirms Fed Cut Bets

(Bloomberg) -- Gold held a three-day advance after a key US inflation report reaffirmed expectations that the Federal Reserve will likely cut interest rates next week.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersAmerican Institute of Architects CEO ResignsCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Office Policy Under TrumpUS consumer prices rose

BofA Warns Stocks Underpricing Risk of Inflation Return

(Bloomberg) -- While the fight against inflation may largely have been won, tensions over price pressures could still disrupt confidence about interest-rate cuts. The stock market seems to be looking past these warnings.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationDC Business Leaders Welcome Return-to-Office Policy Under TrumpAmerican Insti