By Ted Hesson and Matt Spetalnick WASHINGTON (Reuters) -The United States will ramp up deportations while also expanding legal pathways for would-be migrants as it braces for a possible spike in illegal border crossings when COVID-19 restrictions are set to end next month, U.S. officials said on Thursday. The U.S. will double or triple the…
By Niket Nishant and Chibuike Oguh (Reuters) – First Republic Bank’s shares rebounded on Thursday from a steep sell-off that wiped out nearly 60% of the regional bank’s market value this week. San Francisco-based First Republic disclosed on Monday it had lost more than $100 billion of deposits in the first quarter, triggering a sharp…
By Michael S. Derby (Reuters) -Federal Reserve emergency lending to banks rose modestly in the latest week and remained at very high levels, even as many central bankers argue the worst of the banking sector’s latest stresses are waning. The central bank said that borrowing through three programs aimed at ensuring banks have the liquidity…
By David Morgan and Richard Cowan WASHINGTON (Reuters) – The U.S. Senate showed no sign of moving to avoid a looming debt-ceiling crisis on Thursday, as Republicans rejected calls to raise the $31.4 trillion limit without conditions and Democrats dismissed the idea of talks. A day after the House of Representatives approved a Republican package…
By Akash Sriram and Jeffrey Dastin (Reuters) -Amazon.com Inc on Thursday reported quarterly sales and profit ahead of expectations, projecting confidence in its cloud business despite a clampdown in customers’ spending and touting how its aggressive cost cuts were starting to pay off. Shares rose 8% in extended trading, also bolstered by a forecast for…
By Joseph Ax (Reuters) – A federal appeals court on Thursday upheld several Republican-backed voting restrictions in Florida, overruling a lower court judge who had found the laws intentionally discriminated against minority voters. In a split 2-1 decision, a panel of judges at the 11th U.S. Circuit Court of Appeals said the evidence did not…
(Reuters) -Wireless carrier T-Mobile US Inc missed Wall Street estimates for first-quarter revenue and wireless subscriber additions on Thursday, weighed down by intense competition and consumers postponing upgrades to their plans. High inflation and macro economic challenges have forced consumers to cut back spending even as rivals undercut each other with cheaper and bundled offerings,…
(Reuters) -Ride-hailing firm Lyft Inc said it will lay off about 1,072 employees, or 26% of its workforce, in one of the first steps by the new Chief Executive David Risher, sending its shares up by about 1% on Thursday. Risher, who took over earlier this month, had recently said the company will “significantly” cut…
(Reuters) -Gilead Sciences Inc on Thursday reported a lower-than-expected first-quarter profit as sales from COVID-19 antiviral Veklury declined more than anticipated, and its shares fell more than 2%. Sales of the hospital-administered drug also know as remdesivir plunged 63% to $573 million for the quarter, well off analysts’ estimates of $697.6 million. The company said…
LONDON/BOGOTA (Reuters) -Colombia’s incoming finance minister Ricardo Bonilla and President Gustavo Petro sought to calm the market on Thursday as the peso currency, bonds and the stock exchange fell following the surprise ouster of Bonilla’s predecessor. Petro named Ricardo Bonilla to the post in a Cabinet reshuffle on Wednesday, replacing Jose Antonio Ocampo. The currency…
