Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Iran has quadrupled its output of nuclear material amid rising tension with the U.S. and dangerous escalations in the Middle East.Energyread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
The announcement comes amid a wave of store closures across the country this year.Retailread more
"Unlike Bernie Sanders or Elizabeth Warren or Kamala Harris, Biden's against 'Medicare for All,'" the "Mad Money" host says.Mad Money with Jim Cramerread more
"As long as President [Donald] Trump believes that the Chinese are the ones who pay the price, he's going to keep taking a hard-line approach to these negotiations," Cramer...Mad Money with Jim Cramerread more
Sens. Mitch McConnell and Tim Kaine introduced a bill Monday that would raise the minimum age to buy tobacco to 21 in hopes of curbing what regulators are calling an...Health and Scienceread more
* Pound heads towards $1.30 after breaching $1.31 this week
PMI services survey signals stagnating economy
* BoE gave hawkish hone, markets doubt any hike is imminent
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv (Recasts, adds details)
By Tommy Wilkes and Saikat Chatterjee
LONDON, May 3 (Reuters) - Sterling surged past $1.3150 on Friday after the leader of Britain's opposition party said parliament must break the deadlock over Brexit and "get a deal done" to exit the European Union.
It also rallied to a one-month high against the euro as broad dollar weakness prompted investors to cut short positions heading into a long weekend with Britain shut for a local holiday on Monday.
Lee Hardman, MUFG's currency analyst based in London said "optimism" over a "cross-party deal to break the impasse" had extended the move higher in sterling.
Traders heading into a three-day weekend in London may also be trimming any short positions in the pound in case they are caught out by positive news in the Brexit talks when markets are closed.
Jeremy Corbyn, leader of Britain's Labour Party, said on Friday that the results of local elections held around the country the previous day should spur lawmakers to find a way to "get a deal done" to leave the EU.
He was quoted by ITV as saying there was now a "huge impetus" on every lawmaker to deliver a deal.
Against the dollar, the pound surged more than a percent to $1.3175, a one-month high.
Against the euro, the pound surged 0.9 percent to 84.98 pence, a new one-month high.
Investors have been broadly impervious to tepid economic data this week and relatively hawkish comments from the Bank of England at a policy meeting on Thursday.
The BoE said on Thursday that markets should expect interest rates to rise more in the next few years than they currently assume, if the economy grows as policymakers expect and inflation is brought back to target.
Trading in the pound has become far less volatile as investors sit on the sidelines while British politicians try to find a way out of a deadlock over Brexit.
Britain will not leave the EU until possibly the end of October after London and Brussels agreed a delay.
But Friday's moves underscored how sensitive markets remain to the prospect of any deal.
"Hopefully, both the political parties draw their conclusions after yesterday," said Kenneth Broux, a currency strategist at Societe Generale in London, referring to the local elections.
Prime Minister Theresa May's Conservatives and the Labour Party were both punished by voters, who blame them for the deadlock over Brexit, partial results showed.
(Editing by Larry King and John Stonestreet)