By Andrea Shalal and Jeff Mason DAKAR/WASHINGTON (Reuters) -Treasury Secretary Janet Yellen on Friday warned that the U.S. government cannot choose to pay some bills over others if Congress fails to raise the borrowing limit, as President Joe Biden and top Republican Kevin McCarthy made plans to meet to discuss the issue. Speaking to reporters…
LONDON (Reuters) -Investors poured a record $12.7 billion into emerging-market debt and equity funds in the week to Wednesday, in response to China’s easing of its COVID-19 restrictions on activity, data on Friday from BofA Global Research showed. The sudden shift in Chinese policy has boosted many different asset classes, from commodities and mining stocks…
(Reuters) – Morgan Stanley Chief Executive Officer James Gorman’s total compensation for 2022 slipped 10% to $31.5 million, the bank said on Friday. Gorman’s total compensation will include an annual base salary of $1.5 million, a cash bonus of $7.5 million, a deferred equity award of $4.5 million and a performance-based equity award of $18…
By Laila Kearney NEW YORK (Reuters) -Oil settled up about $1 a barrel on Friday and notched a second straight weekly gain as China’s economic prospects brightened, boosting expectations for fuel demand in the world’s second-biggest economy. China’s lifting of COVID-19 restrictions should bring global demand to a record high this year, the International Energy…
By Kylie Madry and David Shepardson MEXICO CITY/WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) has opened an office in Mexico, the regulatory body said on Friday, a sign the country is looking to aid one of its top travel partners to recover a coveted safety rating after being downgraded in May 2021. The downgrade…
By Andrea Shalal and Kanishka Singh DAKAR/WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that a potential U.S. default could cause a global financial crisis and undermine the role of the dollar as a reserve currency. The U.S. government hit its $31.4 trillion borrowing limit on Thursday, a figure that reflects money already…
WASHINGTON (Reuters) – The U.S. Federal Trade Commission asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly flouting a judge’s ruling banning him from working in the pharmaceutical industry, according to a court filing. (Reporting by Diane Bartz)
By Dietrich Knauth and Andrew Goudsward (Reuters) -FTX told a U.S. judge on Friday that it has reached an agreement with the U.S. Department of Justice that removes one of the biggest obstacles to hiring its chosen legal advisers to navigate the collapsed crypto exchange’s bankruptcy. FTX is asking U.S. Bankruptcy Judge John Dorsey at…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank’s investment banking bonus pool for last year will fall by somewhat less than 10%, a person with knowledge of the matter said on Friday, providing more evidence of tougher times in finance. Bankers working on M&A origination and advisory will face around a 40%…
By Noah Browning LONDON (Reuters) -Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of COVID-19 restrictions in China is set to increase global demand to a…
