By Rich McKay ATLANTA (Reuters) -A former U.S. Coast Guardsman accused of killing a woman and wounding four others in a shooting in an Atlanta medical building was denied bail on Thursday. The suspected gunman, identified as 24-year-old Deion Patterson, had waived his right to appear at the court hearing during which Fulton County Magistrate…
(Reuters) – U.S. oil and gas producer ConocoPhillips on Thursday said it sees “light at the end of the tunnel” in long-running claims for expropriation of its Venezuelan assets. Conoco has a more than $8 billion arbitration award on the 2007 expropriation of three oil projects in Venezuela, and is pursuing another lawsuit in the…
By Andy Sullivan and Moira Warburton WASHINGTON (Reuters) – A Republican plan to cut federal spending in exchange for lifting the U.S. government’s debt ceiling would lower employment, slow economic growth and “meaningfully increase” the likelihood of a recession, Moody’s Analytics’ chief economist told a Senate committee on Thursday. Mark Zandi told the Senate Budget…
By Medha Singh, Chibuike Oguh (Reuters) -Shares of PacWest Bancorp and Western Alliance Bancorp shares plunged on Thursday, dragging other regional lenders down, as reports of both banks exploring strategic options sparked investor worries of a widening financial crisis. PacWest’s stock slumped more than 40% in afternoon trading, dropping to a record low. The bank…
WASHINGTON (Reuters) – The U.S. Treasury Department’s top international official is heading to Europe and Asia this week for talks on current macroeconomic trends and events, and a G7 finance officials meeting, Treasury said in a statement on Thursday. Treasury Undersecretary for International Affairs Jay Shambaugh will attend meetings of the Organization for Economic Cooperation…
By Tiyashi Datta and Helen Coster (Reuters) – Paramount Global Inc missed first-quarter revenue estimates on Thursday amid a weak advertising market in its TV business and cut its dividend. The company incurred a $1.7 billion charge in connection with its plan to integrate Showtime into its Paramount+ streaming service and remove certain programming. Shares…
MADRID (Reuters) – International Airlines Group’s Spanish airline Iberia named Fernando Candela as its new acting president and chief executive officer, replacing Javier Sanchez-Prieto. Candela will take over from Sanchez-Prieto in July and lead the company until the end of the year, IAG said in a statement on Thursday. Candela, who has been CEO since…
By Alexander Marrow MOSCOW (Reuters) – Already Russia’s dominant lender, state-owned Sberbank has become one of the country’s leading technology players, taking on an increasingly important role as sanctions and exiting rivals create gaps only a handful of firms can fill. Once a Soviet savings behemoth, Sberbank’s image has gradually been transformed under CEO German…
NAIROBI (Reuters) -A Kenyan cult leader accused of ordering his followers to starve themselves to death will be detained by police until a hearing on Friday, a court ruled on Tuesday as investigators searched for more bodies in a forest where 101 corpses have already been unearthed. Kenyan authorities say the dead were members of…
FRANKFURT (Reuters) – Austria’s Raiffeisen Bank International, one of the banks in Europe most exposed to Russia, posted a bigger-than-expected 49% rise in profit in the first quarter. Net profit in the quarter was 657 million euros ($724.28 million), up from 442 million euros a year earlier, the bank said. Analysts had expected profit of…
