By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – U.S. stock indexes advanced on Friday after strong earnings updates from Exxon and Intel offset worries over Amazon’s slowdown warning, while economic data reinforced expectations that the Federal Reserve would hike interest rates next week. Exxon Mobil Corp shares finished up 1.3% after hitting an…
By Sharon Bernstein (Reuters) – A day after all five women in the South Carolina state senate banded together to block a proposed abortion ban, Republican Senator Sandy Senn posted a picture of the group on her Facebook page calling the three Republicans, one Democrat and one Independent “united and unstoppable.” The senators came together…
By Clark Mindock (Reuters) – Offshore drilling leases covering 1.7 million acres of federal waters in the Gulf of Mexico will remain in place after a federal appeals court said last year’s $430 billion Inflation Reduction Act, the biggest climate change package in U.S. history, mandated they be issued to the highest bidders. A three-judge…
By Ann Saphir, Hannah Lang and Chris Prentice (Reuters) – U.S. regulators on Friday put large banks on notice that tougher oversight is coming, after the Federal Reserve and Federal Deposit Insurance Corporation detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March. Though the banking…
By Ann Saphir, Hannah Lang and Chris Prentice (Reuters) – U.S. regulators on Friday put large banks on notice that tougher oversight is coming, after the Federal Reserve and Federal Deposit Insurance Corporation detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March. Though the banking…
By Lewis Krauskopf NEW YORK (Reuters) – Economically sensitive areas of the U.S. stock market are flashing warnings over growth, even as major equity indexes edge higher. The S&P 500 is up 8.6% for the year after gaining 1.5% in April, thanks to roaring year-to-date rallies in shares of Microsoft, Amazon and Google-parent Alphabet and…
By Sabrina Valle and Arunima Kumar HOUSTON (Reuters) – The two largest U.S. oil companies – Exxon Mobil Corp and Chevron Corp – are minting cash from booming oil and gas operations, but are splitting over what to do next. The pair on Friday posted first-quarter results that topped Wall Street forecasts as earnings soared….
(Reuters) – The Federal Reserve issued a detailed and scathing assessment on Friday of its failure to identify problems and push for fixes at Silicon Valley Bank before the lender’s collapse, and promised tougher supervision and stricter rules for banks. Meanwhile, U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts…
(Reuters) – The U.S. Department of Defense said on Friday it has awarded a $7.8 billion contract modification for 126 F-35 multi-role aircraft to weapons manufacturer Lockheed Martin Corp. The modification exercises options for the production and delivery of 126 Lot 17 F-35 aircraft, to include 81 F-35A aircraft for U.S. Air Force and its…
By David Shepardson (Reuters) – California regulators on Friday approved new rules requiring all medium- and heavy-duty vehicles sold in the state in 2036 be zero-emission, a day after the California Air Resources Board (CARB) adopted reduced emission regulations for locomotives. “With these actions requiring all new heavy-duty truck sales to be zero emission and…
