By Lewis Krauskopf NEW YORK (Reuters) – A closely watched U.S. inflation report next week could help settle one of Wall Street’s most pressing questions: whether the market has correctly pegged the near-term trajectory for interest rates. Following last month’s banking crisis, investors have become more convinced the Federal Reserve will cut rates in the…
(Reuters) – First Republic Bank said in a regulatory filing on Friday that it will suspend payments of quarterly cash dividends on its preferred stock “as a measure of prudent oversight.” Last month, the bank suspended its dividend on common stock after the collapse of Silicon Valley Bank. Large U.S. banks injected $30 billion in…
By Dan Burns (Reuters) – Deposits at U.S. commercial banks rose near the end of March for the first time in about a month, showing signs of stabilizing after the two largest bank failures since the financial crisis rocked the banking system and rattled depositors. Federal Reserve data released on Friday showed deposits at all…
By David Shepardson WASHINGTON (Reuters) – U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation…
(An earlier version of this story included incorrect results for some of Qualcomm’s tests and rankings and incorrectly stated that Neuchips had beat Qualcomm and Nvidia in one category of testing. Neuchips did not compete in the categories described in the story and has been removed, and Qualcomm’s results and rankings have been corrected in…
(Reuters) – WeWork Inc. on Friday said it has adopted a “poison pill” to limit its shareholders from increasing stakes, which would make it difficult for the company to use its net operating loss (NOL) carryforwards to reduce tax. As of Dec. 31, 2021, WeWork had about $6.9 billion of U.S. federal NOLs and $6.6…
By David Shepardson WASHINGTON (Reuters) -Tesla is recalling just over 400 Model 3 vehicles in the United States because front suspension lateral link fasteners may loosen. Tesla will tighten or replace the lateral link fasteners to address the issue that could allow the lateral link to separate from the sub-frame on the recalled 2018 and…
By Dan Burns and Howard Schneider (Reuters) – The Black unemployment rate hit a record low in March, a milestone for a U.S. labor market that most policymakers and economists expect to begin cooling in the face of higher interest rates, jeopardizing those historic gains. The Black unemployment rate tumbled to 5% last month from…
By Tim Hepher and Sophie Yu PARIS/BEIJING (Reuters) – China and France will study the need for cargo planes and long-haul jets “in due course,” a joint statement said on Friday, following a state visit by French President Emmanuel Macron. The comments suggest a more muted stance on the prospect for significant orders of large…
By Ricardo Brito (Reuters) -Giants of the orange juice trade in Brazil have become defendants in a class-action lawsuit seeking $2.5 billion in damages over an alleged scheme to fix prices between 1999 and 2006, a prosecutor told Reuters. Federal Prosecutor Karen Kahn said the Sao Paulo Court of Justice will hear claims in a…
