By Nupur Anand NEW YORK (Reuters) -Bankers are beefing up risk management, monitoring and emergency procedures around the use of social media after an internet-fueled run toppled Silicon Valley Bank two months ago and sparked turmoil in the industry. In board rooms across the United States, executives are devising programs and plans to counteract online…
By Michael S. Derby NEW YORK (Reuters) -New York Federal Reserve President John Williams said on Friday the U.S. and other major economies are still in a fundamentally low-interest-rate world despite the impact of the COVID-19 pandemic and the inflation surge that arose from it. “There is no evidence that the era of very low…
(Reuters) -Charles Schwab Corp is looking to raise up to $2.5 billion through a debt offering, the brokerage said on Thursday as more companies aim to benefit from investors trying to capitalize on a spike in yields. The Texas-based company will raise the debt in two parts, via notes due in 2029 and 2034 and…
By Pete Schroeder WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation’s largest bank, JP Morgan Chase. In a letter sent to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation Wednesday, Warren said the deal was…
By Eric Cox and Ted Hesson CHICAGO (Reuters) -Chicago’s new mayor is grappling with how to house hundreds of migrants arriving on buses from the U.S.-Mexico border, with some sleeping in police stations and shelters strained after border crossings rose earlier this month. Officials in the third-largest U.S. city have said they cannot afford to…
By Mike Scarcella (Reuters) – Simmons Bedding Company LLC has been sued by a consumer who accused the company of selling bedding and linens that falsely inflated their “thread count,” duping buyers over the purported higher quality and durability of the products. The lawsuit filed on Wednesday in a California federal court alleged certain Simmons…
By Gabriella Borter and Sharon Bernstein (Reuters) – State legislatures are wrestling with how much to restrict or expand abortion access after the U.S. Supreme Court overturned Roe v. Wade last year. Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023. RESTRICTIONS FLORIDA: Florida Governor Ron DeSantis…
By Jacqueline Thomsen (Reuters) -The U.S. Senate on Thursday confirmed President Joe Biden’s nominee to the 11th Circuit U.S. Court of Appeals, overcoming rare Democratic opposition from Senator Joe Manchin. Nancy Abudu, a lawyer for the nonprofit Southern Poverty Law Center (SPLC) legal advocacy group, was confirmed on a 49-47 vote. She will be the…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday dismissed a case in which Republicans sought to keep in place a policy introduced under former President Donald Trump that had let American officials quickly expel hundreds of thousands of migrants at the U.S.-Mexican border. The policy, known as Title 42, was implemented by Trump’s…
By Andrew Chung (Reuters) -The U.S. Supreme Court handed internet and social media companies a pair of victories on Thursday, leaving legal protections for them unscathed and refusing to clear a path for victims of attacks by militant groups to sue these businesses under an anti-terrorism law. The justices in a case involving Google LLC’s…
