By Michael S. Derby NEW YORK (Reuters) – A default on U.S. Treasury debt would be a leap into the unknown for the Federal Reserve’s ability to conduct monetary policy to achieve its job and inflation goals. That’s because U.S. government bonds are the key to how the central bank sets its short-term interest rate…
MEXICO CITY (Reuters) – Mexico’s economy ministry is urging the U.S. state of Texas to remove inspections of cargo crossing the border, which it said in a statement on Monday is causing millions of dollars in losses for U.S. and Mexican firms. The Mexican government will file a complaint with the trade facilitation committee under…
By Hannah Lang (Reuters) – Greg Becker, the former chief executive officer of Silicon Valley Bank, is set to appear before the U.S. Congress on Tuesday, two months after the collapse of his bank sparked panic among bank customers and investors, forcing the government to backstop deposits. California banking regulators moved quickly to shut down…
(Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic on Monday said if he were voting on monetary policy today he would vote to hold interest rates steady, but added there is still a lot of data to come before the Fed’s meeting in June. Bostic told Bloomberg TV he feels businesses have less pricing…
By Abhijith Ganapavaram and Allison Lampert (Reuters) -Aerospace supplier HEICO Corp said on Monday it will buy Wencor Group in a deal valued at $2.05 billion to boost its portfolio of generic parts. The deal comes at a time when airlines and aircraft repair shops in North America are increasingly relying on used and generic…
By Huseyin Hayatsever, Orhan Coskun and Birsen Altayli ANKARA (Reuters) -President Tayyip Erdogan led comfortably on Monday after the first round of Turkey’s presidential election, with his rival facing an uphill struggle to prevent the president extending his rule into a third decade in a runoff vote on May 28. Turkish assets weakened on the…
By Joey Roulette WASHINGTON (Reuters) – Elon Musk’s SpaceX has tapped NASA’s former human spaceflight boss Kathy Lueders to help oversee development of the company’s moon and Mars rocket called Starship, a person familiar with the hire said on Monday. Lueders, the second former NASA human spaceflight chief to retire and move to SpaceX in…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Monday allowed a challenge by an Alabama death row inmate who sued months before surviving a botched execution claiming that the state’s troubled lethal injection process would violate constitutional protections against cruel and unusual punishment. In an unusual case that has returned to the justices because…
FRANKFURT (Reuters) -The European Central Bank said on Monday it had fined Goldman Sachs’ European unit 6.63 million euros ($7.3 million) for underreporting the risk associated with some corporate credit, thereby flattering its balance sheet. Goldman Sachs said in a statement it had “closely cooperated with the ECB” and “taken all necessary steps” to resolve…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Monday agreed to hear a bid by South Carolina officials to revive a Republican-crafted voting map that a lower court said had unconstitutionally “exiled” 30,000 Black voters from a closely contested congressional district. The justices took up an appeal by South Carolina officials of a…
