WASHINGTON (Reuters) -President Joe Biden said on Tuesday he has vetoed legislation passed by the U.S. Congress that would repeal exemptions on American tariffs on imported solar panels from four Southeast Asian nations. The waivers for duties on panels made in Malaysia, Cambodia, Vietnam and Thailand, granted by Biden in June 2022, are set to…
By David Lawder WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Tuesday the Biden administration was “extremely focused” on reaching a “green steel” arrangement with the European Union and other partners that disadvantages carbon-intensive steel from China and elsewhere. Raimondo told an American Iron and Steel Institute conference in Washington that she was…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s civilian and military leaders on Tuesday said that rioters and their backers who attacked state assets and military installations to protest the arrest of former prime minister Imran Khan will be tried under army laws. The decision was taken at a meeting of the National Security Committee chaired…
By David Shepardson WASHINGTON (Reuters) -U.S. Postmaster General Louis DeJoy will tell lawmakers on Wednesday he plans to take more “aggressive actions” after saying the agency will not meet its goal of breaking even in 2023. The U.S. Postal Service (USPS) has reduced projected losses from $160 billion to $70 billion over 10 years after…
By Jonathan Stempel NEW YORK (Reuters) -Wells Fargo & Co has agreed to pay $1 billion to settle a lawsuit accusing it of defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers. U.S. District Judge Gregory Woods in Manhattan federal court granted preliminary approval on Tuesday to…
LONDON (Reuters) -An investor consortium including U.S. buyout firm Blackstone and Thomson Reuters, the publisher of Reuters News, is looking to sell around $3 billion worth of shares in the London Stock Exchange Group, according to a term sheet shared by an investment bank involved in the sale on Tuesday. The accelerated stock offering, unveiled…
By Pete Schroeder and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve will unveil its plan to ratchet up capital rules for banks this summer and will ensure supervisors more aggressively police lenders following several recent bank failures, its top regulatory official told Congress on Tuesday. Fed Vice Chair for Supervision Michael Barr said the agency…
By Hannah Lang and Tatiana Bautzer WASHINGTON/NEW YORK (Reuters) -The former chief executive of Silicon Valley Bank was unaware the U.S. lender was in trouble when he sold stock weeks before it failed, he told senators in his first public comments defending his conduct after the lender’s shock collapse. California banking regulators shut down Silicon…
By Chibuike Oguh and Niket Nishant (Reuters) – Shares of U.S. regional lenders rose on Monday, led by a rebound in PacWest Bancorp, as investors turned their attention to the U.S. debt ceiling debate instead of the crisis of confidence that has led to the collapse of three banks in two months. Regional bank stocks…
WASHINGTON (Reuters) – The U.S. State Department said on Tuesday it “strongly condemns” the reported arrest of Robert Shonov, a former employee of the United States’ mission in Russia, calling allegations he illegally collaborated with foreigners “wholly without merit.” Russian state news agency TASS reported on Monday that Shonov had been detained in the far…
