Jittery Wall Street banks ‘war game’ the election with drills, client calls, special pollsters

Large Wall Street banks have been running “war game” drills in their trading businesses and preparing clients for unexpected scenarios around the U.S. election next week, hoping to avoid liquidity crunches or technical errors as markets react to news of who will be running the White House and Congress, industry sources said. There is more […]

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U.S. consumer spending beats forecasts; worries over decreasing government money

U.S. consumer spending rose more than expected in September, but decreasing benefits for millions of unemployed Americans, cooling temperatures and a resurgence in COVID-19 cases across the nation could crimp spending in the fourth quarter. The report from the Commerce Department on Friday also showed inflation remaining muted last month, which could allow the Federal […]

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AbbVie raises profit outlook on Botox recovery signs, new drugs growth

Drugmaker AbbVie Inc ABBV.N raised its full-year profit forecast on Friday, bolstered by signs of recovery in demand for its Botox injection on easing COVID-19 restrictions and strong growth for its latest drugs, sending its shares up 6%. AbbVie now expects 2020 sales of $2.2 billion from psoriasis drug Skyrizi and rheumatoid arthritis drug Rinvoq, […]

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