(Reuters) – Federal Reserve Chair Jerome Powell will testify at the U.S. Senate Banking Committee on June 22 at 10 am Eastern time, panel chief Sherrod Brown said on Friday. The testimony marks the second iteration of the Fed chair’s twice-yearly reports to Congress on the state of U.S. monetary policy, and will come a…
By Karolos Grohmann PARIS (Reuters) – Ukraine tennis player Elina Svitolina will not shake the hands of Russian and Belarusian opponents out of respect for the soldiers fighting on the front line following Moscow’s invasion of her country last year, she said on Friday. Svitolina, who reached the French Open fourth round on Friday with…
By Maha El Dahan, Alex Lawler and Ahmad Ghaddar VIENNA (Reuters) -OPEC and its allies are discussing deepening oil production cuts, possibly by as much as 1 million barrels per day, three sources told Reuters on Friday as oil prices fell towards $70 per barrel and market analysts spoke of a new supply glut. OPEC+,…
NEW YORK (Reuters) – After a series of much stronger-than-expected results this reporting period, S&P 500 companies look like they will end up with first-quarter earnings essentially unchanged from a year ago. Based on Refinitiv data Friday that included results from 494 of the S&P 500, earnings now are estimated to have dipped just 0.01%…
(Reuters) – Federal Reserve Chair Jerome Powell held a phone call with the head of UBS Group AG in the days before the bank was propelled by Swiss authorities to buy smaller rival Credit Suisse, just one of the dozens of calls and meetings Powell held from mid-March as a banking crisis unfolded. Powell’s monthly…
By David Lawder WASHINGTON (Reuters) – The World Bank’s new president Ajay Banga on Friday asked the lender’s 16,000 staff to “double down” on development and climate efforts as he seeks to accelerate the bank’s evolution to tackle the most pressing global problems. On his first day in the job, the former Mastercard CEO told…
By Aidan Lewis CAIRO (Reuters) – Aid workers in Sudan say fierce fighting, rampant looting and reams of red tape are hampering efforts to deliver vital humanitarian supplies to the millions of people who now rely on a relief effort since a conflict erupted in mid-April. The United Nations estimates 25 million people, or more…
(Updates prices, adds analyst quote in paragraph 6, adds paragraph 12 on Fitch keeping U.S. credit rating on negative watch) By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar rose on Friday after May’s non-farm payrolls report showed employment numbers surged, while traders weighed the merits of the U.S. Federal Reserve possibly skipping a rate…
(Reuters) – Tropical Storm Arlene formed in the the Gulf of Mexico, the U.S. National Hurricane Center said on Friday. The storm is located about 265 miles (425 km) west of Fort Myers, Florida, packing maximum sustained winds of 40 miles per hour (65 km/h). “Although the storm has strengthened slightly, we still expect Arlene…
By David Shepardson WASHINGTON (Reuters) – The Republican chairmen of two House of Representatives panels on Friday urged President Joe Biden’s administration to rally U.S. allies including Japan and South Korea to defeat Chinese “economic aggression” in the wake of Beijing’s effective ban on purchases of Micron Technology memory chips. Michael McCaul, who heads the…
