By Jack Queen (Reuters) -A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender’s executives for allegedly hiding risks that led to its stunning downfall, legal experts said. The Fed took its own share of the blame for SVB’s sudden…
(Reuters) – JPMorgan Chase & Co is buying most of First Republic Bank’s assets, which had been seized by United States regulators, in a last-ditch rescue for the strained lender, marking the third major U.S. bank to fail in two months. Last week, First Republic reported a more than $100 billion plunge in deposits in…
(Reuters) – An explosion in a Russian region bordering Ukraine derailed a freight train on Monday, the local governor said in a social media post, adding there were no casualties. Pictures shared on social media showed several tank carriages laying on their side and dark grey smoke billowing into the air at the site of…
By Joyce Zhou MACAU (Reuters) -Hundreds of thousands of mainland Chinese visitors have descended on the world’s biggest gambling hub of Macau for the Labour Day holiday, packing tightly into its narrow cobblestone streets and placing bets in its glitzy casinos. The surge in visitors comes after China and its special administrative region Macau lifted…
By Jonathan Stempel NEW YORK (Reuters) -Energizer Holdings Inc and Walmart Inc have been sued by consumers and retailers in three proposed class actions accusing them of conspiring to raise the prices of disposable batteries. According to complaints filed on Friday, Energizer agreed “under pressure from Walmart” to inflate wholesale battery prices for other retailers…
By Lucinda Elliott and Daniela Desantis ASUNCION (Reuters) -Paraguayan conservative economist Santiago Pena, 44, won the country’s presidential election on Sunday, tightening the ruling Colorado Party’s political grip in the country and defusing fears about the end of diplomatic ties with Taiwan. Pena, who has pledged to maintain Paraguay’s long-standing Taiwan relations, had 42.7% of…
By Ali Sawafta JERICHO, West Bank (Reuters) – Israeli forces shot dead a Palestinian teenager during a morning arrest raid that led to clashes in a refugee camp outside the city of Jericho in the occupied West Bank, Palestinian health officials said. The Palestinian health ministry said 17-year-old Jibril Kamal died after being shot in…
By Alex Lawler LONDON (Reuters) -Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from new OPEC+ supply cuts taking effect this month. The Fed, which meets on May 2-3, is expected to increase interest rates by another…
(Reuters) -The California Department of Financial Protection and Innovation (DFPI) said on Monday it had closed First Republic Bank and agreed a deal to sell its assets to JPMorgan Chase & Co and National Association, in what is the third major U.S. bank to fail in two months. JPMorgan bank was one of several interested…
By Mahamat Ramadane KOUFROUN, Chad (Reuters) – At a refugee camp in remote eastern Chad, Amné Moustapha is close to giving birth. Her contractions are dizzying and her feet swell in the baking heat. Her husband is building a shack from sticks and string to shelter their coming newborn. Moustapha, 28, fled her village of…
