By Davide Barbuscia CHICAGO (Reuters) – Former U.S. Treasury Secretary Lawrence Summers said the odds that the U.S. government could face a technical debt default due to legislation around its borrowing limit were at around 2%-3%, but that any default would be fixed quickly. A standoff between Republicans and Democrats over raising the U.S. borrowing…
(Reuters) -U.S. railroad operator Norfolk Southern Corp took a $387 million charge in the first quarter due to the Ohio freight train derailment and said it expects economic headwinds to weigh on its volume and revenue during the April-June period. Shares of Norfolk, which operates in 22 states and the District of Columbia, slipped 1.1%…
By Philip Pullella (Reuters) – Pope Francis, in a historic move that could lead to more inclusiveness in decision-making in the Roman Catholic Church, will allow women to vote for the first time at a global meeting of bishops in October. In the past, women were allowed to attend the synods, a papal advisory body,…
By Niket Nishant (Reuters) – First Republic Bank’s market value plunged below $1 billion for the first time ever on Wednesday after a report said the U.S. government was unwilling to intervene in the rescue process, hammering the lender’s stock. After a brutal selloff, the bank’s market capitalization was about $886 million at its lowest…
By Kanishka Singh and Nate Raymond WASHINGTON (Reuters) -A former Harvard University professor was sentenced on Wednesday to six months’ house arrest for lying about his ties to a China-run recruitment program, prosecutors said, in one of the highest-profile cases resulting from a crackdown on Chinese influence on U.S. research. Charles Lieber, a renowned nanoscientist…
WASHINGTON (Reuters) -A second American has died in Sudan, the White House said on Wednesday, and U.S. authorities are helping a small number of citizens seeking to leave the country during a ceasefire that has curbed fighting. While sporadic violence continues, the ceasefire announced by the United States on Monday appears to be holding, White…
NEW YORK (Reuters) – Brian Kolfage, a former associate of Steve Bannon, was sentenced on Wednesday to more than four years in prison, after he admitted to conspiring to defraud donors to a campaign to build former President Donald Trump’s wall along the U.S.-Mexican border. (Reporting by Luc Cohen in New York)
BUDAPEST (Reuters) – Hungary’s government has infringed the National Bank of Hungary’s (NBH) independence with a decree restricting access to the bank’s discount bill and by extending a cap on large commercial bank deposits until end-June, the European Central Bank said on Wednesday. Hungary’s government last month extended a cap on large commercial bank deposits…
(Reuters) -Russia’s weekly consumer prices rose at a faster pace in the week to April 24, data from state statistics service Rosstat showed on Wednesday, cementing expectations that the central bank will keep interest rates on hold on Friday. The Bank of Russia is expected to hold its key interest rate at 7.5% on Friday,…
By Khushi Mandowara and Leroy Leo (Reuters) -Humana Inc raised its annual adjusted profit forecast on Wednesday after lower medical costs in the firm’s government-backed health insurance business helped it beat profit estimates for the first quarter. The company’s upbeat outlook contrasts the uncertainty around 2024 earnings for health insurers staring at the end of…
