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A French utility has agreed to buy the owner of the electricity cables and power lines across London, the south-east and the east of England in a deal worth £10.5bn.Paris-headquartered Engie said on Wednesday that it had struck a deal to buy UK Power Networks (UKPN) in a “major milestone” for the company’s ambition to become the “best energy transition utility”.Engie will buy the electricity network operator, which operates about 192,000km of power lines serving 8.5 million customers across London and southern and eastern England, from a Hong Kong-based conglomerate founded by billionaire business magnate Li Ka-shing, which has owned…

IMF’s Georgieva says tariffs lifted goods inflation, backs gradual Fed easing and deficit action.Summary:Goods inflation partly tariff-drivenFed funds at 3.25%–3.5% consistent with full employmentUS debt requires determined fiscal actionIMF shares concern on trade deficitsCurrent account deficit “too big”No formal view yet on tariff court rulingCourt implications to be incorporated into Article IVIMF Managing Director Kristalina Georgieva said US goods inflation has been “somewhat affected” by tariffs, underscoring the lingering price effects of trade policy even as broader inflation moderates.Speaking alongside the Fund’s Article IV review of the United States, Georgieva indicated that bringing the federal funds rate down to a…

Salesforce CEO Marc Benioff during the World Economic Forum in Davos, Switzerland, Jan. 20, 2026.Krisztian Bocsi | Bloomberg | Getty ImagesSalesforce shares tumbled 5% in extended trading on Wednesday after the customer service software maker reported healthy results, although its fiscal 2027 revenue view trailed Wall Street projections.Here’s how the company did in comparison with LSEG consensus:Earnings per share: $3.81 adjusted vs. $3.04 expectedRevenue: $11.20 billion vs. $11.18 billion expectedSalesforce’s revenue grew 12% year over year in its fiscal fourth quarter, which ended on Jan. 31, according to a statement. It’s the company’s fastest growth rate in two years.The company…

Five assembly lines with multiple shifts operated at Whirlpool’s manufacturing plant in Amana just five years ago, a union official said during a news conference today. By this summer, the plant will operate one assembly line with one shift of workers, said Kerry Waddell, an assisting business representative for District 6 of the International Association of Machinists & Aerospace Workers. “What we’ve seen is a systematic disassembly of the entire plant,” Waddell said. While assembly lines at the Amana plant have been shut down “we’ve seen the Mexico facility grow and produce units that we used to make and sell…

Bitcoin BTC$68,348.88 snapped back near $69,000 on Wednesday, rallying more than 10% from Tuesday’s low as crypto markets staged a broad relief rally after a prolonged stretch of pessimism.Ethereum’s ether (ETH), DOGE$0.09290, native tokens of Solana (SOL) and ADA$0.2663 all posted double-digit gains, extending a move that caught many traders leaning the wrong way.Digital asset stocks, battered lower in the past months amid falling crypto prices, also enjoyed a relief rally. Stablecoin issuer Circle (CRCL) surged 34% after its earnings report, while crypto exchange Coinbase (COIN) jumped 14%. Strategy (MSTR), the largest corporate holder of bitcoin, climbed 9%, and the…

(RTTNews) – Snowflake Inc. (SNOW) on Wednesday reported strong revenue growth in its fiscal fourth quarter, while narrowing its net loss compared with a year earlier. For the three months ended January 31, 2026, revenue rose to $1.28 billion from $986.8 million in the prior-year period. Net loss attributable to Snowflake totaled $309.6 million, compared with $327.5 million in the fourth quarter of fiscal 2025. Loss per share improved to $0.90 from $0.99 a year earlier. For the full fiscal year ended January 31, 2026, revenue climbed to $4.68 billion from $3.63 billion in fiscal 2025. Loss per share was…

February 2026 Contrasting Ledgers: Considerations for U.S. Dollar Interbank Payment Systems Melissa Leistra Abstract: This paper describes the current U.S. dollar interbank payments landscape and identifies its key characteristics. It then discusses major considerations and potential tradeoffs that various conceptual alternatives might raise. Keywords: Payment systems, Settlement, Shared ledgers, Trade-offs DOI: https://doi.org/10.17016/FEDS.2026.011 PDF: Full Paper Back to Top Last Update: February 25, 2026

Prompting AI is a language of its own — and investors and money managers who are fluent carve a sharp edge

The dollar index (DXY00) today is down by -0.07%.  The dollar is slightly lower today amid a stronger yuan, which has rallied to a 2.75-year high against the dollar.   Also, comments on Tuesday evening from President Trump at the State of the Union address fueled trade uncertainty and weighed on the dollar when he reiterated his resolve to impose trade tariffs.  In addition, strength in stocks today has reduced liquidity demand for the dollar.Losses in the dollar are limited amid weakness in the yen, which dropped to a 2-week low against the dollar today.  Also, higher T-note yields today have…

Pettee Investors Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,623 shares of the e-commerce giant’s stock after purchasing an additional 2,838 shares during the quarter. Amazon.com makes up 2.4% of Pettee Investors Inc.’s holdings, making the stock its 9th largest position. Pettee Investors Inc.’s holdings in Amazon.com were worth $4,309,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors have also bought and sold…