By Niket Nishant and Tanay Dhumal (Reuters) -Mastercard has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States. Most banks in the country do not service cannabis companies as marijuana remains illegal at the…
NEW YORK (Reuters) – U.S. interest rate futures on Wednesday saw an increased probability of another interest rate increase by the Federal Reserve this year in September after Chair Jerome Powell said the Fed has not ruled out raising rates in consecutive meetings. The Fed raised rates by 25 basis points (bps) on Wednesday, as…
(Reuters) -Mercedes-Benz on Wednesday raised its full-year forecast for operating profit, on the back of higher prices that helped the luxury carmaker shrug off higher material costs and negative currency effects. The German automaker said it now expects earnings before interest and tax (EBIT) in 2023 to be on par with the 20.5 billion euros…
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau shuffled much of his cabinet on Wednesday with the aim of increasing focus on economic issues like a housing shortage and the rising cost of living that have hurt his standing with voters. It could be the last shakeup before an election,…
(Reuters) -JPMorgan Chase & Co will buy almost $2 billion worth of mortgages to facilitate Banc of California’s purchase of PacWest Bancorp, a source with knowledge of the matter told Reuters. The investment bank has entered into an agreement to buy $1.8 billion of single-family residential loans at a discount, the source said. Banc of…
By Trevor Hunnicutt and Kanishka Singh WASHINGTON (Reuters) – Ukraine’s counteroffensive is “not a stalemate” even if it is not progressing fast enough, White House national security spokesman John Kirby told reporters on Wednesday. Kirby made the remarks when asked about the pace of Ukraine’s counteroffensive in a press briefing. “President Zelenskiy himself has said…
By Brendan Pierson (Reuters) – The Biden administration has asked a federal appeals court to lift an order sharply curbing government officials’ communications with social media companies as a lawsuit accusing U.S. officials of seeking to censor certain views about COVID-19 and other topics online makes its way through the courts. In a filing Tuesday…
BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Wednesday he expects the basic interest rate to fall to “at least” 12% by year-end, emphasizing ample scope for monetary easing. The central bank has maintained its benchmark interest rate at a cycle-high of 13.75% since September 2022, but it has signaled that most of…
By Valerie Insinna and David Shepardson (Reuters) – Boeing’s first delivery of the 737 MAX 7 has been delayed to 2024, the company said in an SEC filing on Wednesday. Boeing still expects the Federal Aviation Administration to certify the MAX 7 and begin FAA certification flight testing for the MAX 10 in 2023, the…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chairman Jerome Powell said Wednesday at a press conference it’s possible the central bank will follow its latest rate rise with another one at the policy meeting scheduled for September. “It is certainly possible we would raise the funds rate at the September meeting if…
