(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…
WASHINGTON (Reuters) – The Childhood Leukemia Foundation (CLF) filed a lawsuit against the U.S. Federal Trade Commission (FTC) on Friday, asking a court to stop an investigation into whether it spent more than 90% of donations it receives on fundraising and payroll. In its complaint filed in federal court in New Jersey, the foundation asked…
(Reuters) – Alphabet Inc’s YouTube said on Friday that the platform would stop removing content that might have spread false claims related to U.S. presidential elections in 2020 and before. The new set of updates is part of YouTube’s elections misinformation policy that will go into effect immediately. “In the current environment, we find that…
By Mike Scarcella (Reuters) – A U.S. judge on Thursday approved a $415 million class-action settlement resolving claims that online gaming companies DoubleDown Interactive LLC and International Game Technology PLC violated Washington state gambling laws and consumer protection provisions. In his ruling, U.S. District Judge Robert Lasnik in Seattle federal court called the resolution “fair,…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission announced Friday it had dismissed 42 pending enforcement cases after discovering enforcement staff had improper access to materials meant for commission officials ruling on those cases. The decision comes after the SEC concluded a lengthy review of a matter first raised in April…
