By Howard Schneider WASHINGTON (Reuters) -A united U.S. Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on…
By Steve Scherer and Costas Pitas (Reuters) -Stellantis-LG Energy Solution (LGES) will resume construction of an electric-vehicle battery plant in Canada after the federal government and province of Ontario increased subsidies for the C$5 billion ($3.7 billion) project. The companies said on Wednesday battery production at the plant in the city of Windsor in Ontario…
By Brendan O’Brien (Reuters) – A Philadelphia resident arrested in one of a series of mass shootings across the country over the Fourth of July weekend was arraigned in court on Wednesday on five murder counts and other charges, online court records showed. The suspect, identified as 40-year-old Kimbrady Carriker, made an appearance in Philadelphia…
By Huw Jones LONDON (Reuters) – Some asset managers face sanctions for failing to manage liquidity properly, posing risks to market stability and investors’ ability to withdraw money, Britain’s Financial Conduct Authority (FCA) said on Thursday. The suspension of property funds in Britain and difficulties faced by liability-driven investment funds last September have thrown a…
By Huw Jones LONDON (Reuters) – Britain’s role as a leading financial centre is at stake unless it comes up with a roadmap for digital representations of stocks, bonds, loans and real estate, trade association UK Finance said in a report on Thursday. So-called tokenised assets can be exchanged on distributed ledger technology (DLT), also…
By Kevin Buckland and Ankur Banerjee TOKYO (Reuters) -A tailwind behind Japanese stocks is strengthening as large foreign funds who have been avoiding the market for decades start to reach into pockets deep enough to take the Nikkei back to its 1989 peak. Their money was on the sidelines while the Nikkei 225 surged 27%…
By Lewis Krauskopf, Bansari Mayur Kamdar and Johann M Cherian (Reuters) – Wall Street’s main indexes ended with modest declines on Wednesday as investors digested minutes from the U.S. Federal Reserve’s latest meeting and braced for significant economic data in the days to come. Minutes showed a united Fed agreed to hold interest rates steady…
MEXICO CITY (Reuters) – Public support for Mexican opposition senator Xochitl Galvez has risen since she declared her intention last week to seek the presidency in 2024, an opinion poll showed on Wednesday. Galvez’s entry into the fray has enlivened media interest in the opposition’s hopes of competing with the leftist ruling National Regeneration Movement…
(Reuters) – A U.S. bankruptcy judge on Wednesday allowed SVB Financial Group, owner of bankrupt Silicon Valley Bank, to sell its investment banking business to the division’s founder. Buyers include a group led by the unit’s founder and former CEO, Jeff Leerink, and is backed by funds managed by the Baupost Group. The deal includes…
By Steve Holland WASHINGTON (Reuters) -U.S. President Joe Biden showed support for Sweden’s entry into NATO in talks with Prime Minister Ulf Kristersson on Wednesday as doubts linger that Turkey will lift its opposition in time for the military alliance’s summit next week. Biden leaves on Sunday on a three-nation trip centered around the summit…
