CHICAGO--(BUSINESS WIRE)--Nov 7, 2024--
Northern Trust (Nasdaq: NTRS) employees volunteered across the globe last month, an effort that saw a record 61,000 hours spent by Northern Trust staff to assist more than 1,600 nonprofit organizations in 20 countries.
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The efforts came as part of Northern Trust’s “Achieving Greater Together” month of service, an annual event that encourages employees to volunteer time with charitable organizations worldwide. Northern Trust employee efforts included hosting blood donation drives in India, walking shelter dogs in Luxembourg, packing hygiene kits for the unhoused in the Philippines, assisting with food donations in the United Kingdom, preparing meals at local Ronald McDonald Houses in the U.S.
“This year’s Achieving Greater Together campaign is a reflection of Northern Trust’s longstanding commitment to strengthening the communities where we live and work,” Northern Trust Chief Social Impact Officer Shana Hayes said. “For the fourth consecutive year, we have increased participation to set a new Northern Trust record, and it’s inspiring to see the generosity and enthusiasm of our global teams. Volunteering is truly an opportunity to embody the core principles that define who we are as an organization — service, expertise and integrity.”
Northern Trust employees are encouraged to use their time and talent to help charitable organizations year-round. Northern Trust provides each employee two paid days annually to volunteer and further pledges donations of 50 meals to those in need for every hour employees volunteered during the month of October through The Global FoodBanking Network, European Food Banks Federation and Feeding America. This year, thanks to the generosity of employees, Northern Trust has pledged more than 3 million meals.
For more information on Northern Trust’s Achieving Greater Together efforts, see posts such as these on LinkedIn and Instagram.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2024, Northern Trust had assets under custody/administration of US$17.4 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
Northern Trust employees to volunteer with Nourishing Hope in Chicago. (Photo: Business Wire)
Northern Trust employees at Colours Centre for Learning in Bangalore. (Photo: Business Wire)
Chairman and CEO Mike O’Grady joined a group of Northern Trust employees to volunteer with Nourishing Hope in Chicago. (Photo: Business Wire)
NEW YORK (AP) — U.S. stocks ticked higher ahead of the Federal Reserve’s announcement about what it will do with interest rates. The S&P 500 was up 0.4% in early trading Thursday, though momentum slowed sharply from its surge a day before following Donald Trump’s presidential victory. The Dow Jones Industrial Average edged up 20 points, and the Nasdaq composite was 0.7% higher. Healthcare services company McKesson jumped 10% after reporting stronger profit than analysts expected. Lyft soared 25.8% after the ride-hailing app breezed past Wall Street’s sales and profit forecasts. Treasury yields eased in the bond market after surging a day earlier.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Wall Street pointed toward modest gains early Thursday after storming to records a day earlier on former President Donald Trump's presidential election victory.
Futures for the S&P 500 rose 0.3% before the bell and the Dow Jones Industrial Average ticked up 0.2%
Investors pored over a deluge of mixed corporate earnings reports as they prepare to turn their attention to the Federal Reserve’s decision on interest rates, due later in the day.
Lyft jumped close to 24% in extended trading overnight after the ride-hailing app breezed past Wall Street's sales and profit expectations and raised its forecast for the fourth quarter and full year.
Chipmaker Qualcomm climbed 7% after beat analysts' forecasts after its third-quarter net income nearly doubled from the same period a year ago. Arm Holdings also beat Wall Street targets, but the British chipmaker's guidance disappointed investors and its shares fell 6.5% before the bell.
Match Group tumbled 14% after the dating app brand missed revenue targets as its most popular app, Tinder, continued to underperform.
In Europe at midday, Germany’s DAX gained 0.8% the CAC 40 in Paris was nearly unchanged.
Britain's FTSE 100 edged down 0.2% after the Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday. The latest cut comes afte r inflation in the U.K. fell to an annual rate of 1.7%, its lowest level since April 2021.
Inflation in the U.S. has retreated on a similar track, and the broad expectation is that the Federal Reserve will cut its rate by another quarter-point later Thursday.
Much of Wall Street’s run to records this year was built on expectations for cuts to interest rates by the Federal Reserve, as inflation has headed back down to its 2% target. Easier interest rates help boost the economy, but they can also give inflation more fuel.
In Asia, Japan's Nikkei 225 fell 0.3% to 39,381.41, reflecting worries over the potential for a revival of trade tensions under a Trump administration.
“I think everybody’s going to be worried about Trump's tariffs because that’s one of the things in his playbook. And so we’ll have to see how things develop in the early stages of his presidency this time," said Neil Newman, head of strategy for Astris Advisory Japan.
South Korea's Kospi finished nearly flat, at 2,564.63. Australia's S&P/ASX 200 rose 0.3% to 8,226.30.
Chinese shares rallied after the government reported that exports jumped nearly 13% in October over a year earlier, the fastest pace in more than two years and far outpacing the 2.4% increase in September.
Hong Kong's Hang Seng gained 2% to 20,953.34. The Shanghai Composite index was up 2.6% at 3,470.66.
Trump has promised to slap blanket 60% tariffs on all Chinese imports, raising them still more if Beijing makes a move to invade the self-governing island of Taiwan.
Investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favors will mean. Higher tariffs on imports from China would add to the burdens Beijing is facing as it struggles to revive slowing growth in the world's second-largest economy.
But the impact may be less drastic than feared, Zichun Huang of Capital Economics said in a report.
“We expect shipments to stay strong in the coming months –- any drag from potential Trump tariffs may not materialize until the second half of next year," Huang said.
Still, higher tariffs on imports from China, Mexico and other countries would raise the risk of trade wars and other disruptions to the global economy.
Trump's win raised expectations that Beijing may ramp up its spending and other stimulus to counter such trends. The Standing Committee of China's legislature is meeting this week and is expected to announce further measures by Friday.
Francis Lun, CEO of Geo Securities, said domestic issues were a greater concern than tariffs. "People want the government to spend some money to boost the economy, instead of looking outward,” he said.
In other dealings early Thursday, the U.S. dollar weakened against the Japanese yen, slipping to 153.86 yen from 154.62 yen. The euro rose to $1.0768 from $1.0730.
U.S. benchmark crude oil shed 75 cents to $70.94 per barrel. Brent crude, the international standard, lost 58 cents to $74.34.
The price of bitcoin settled in around $75,048 after hitting an all-time high above $76,480 on Wednesday. Trump has pledged to make the country “the crypto capital of the planet” and create a “strategic reserve” of bitcoin.
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024. (AP Photo/Richard Drew)
Trader Edward McCarthy works on the floor of the New York Stock Exchange, Wednesday, Nov. 6, 2024. (AP Photo/Richard Drew)
A man passes a video monitor on the side of the New York Stock Exchange in New York's Financial District on Tuesday, Nov. 5, 2024. (AP Photo/Peter Morgan)
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024. (AP Photo/Richard Drew)
People pass the New York Stock Exchange in New York's Financial District on Tuesday, Nov. 5, 2024. (AP Photo/Peter Morgan)
A TV camera screen shows the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
Members of media stand near the screens showing the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
A currency trader talks on the phone at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
A tv cameraman films the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
A currency trader walks by the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024. (AP Photo/Lee Jin-man)
