(This Aug. 2 story has been corrected to say National Credit Union Administration, not association, in paragraph 27) By Ann Saphir (Reuters) – The lightning-fast collapse of Silicon Valley Bank this spring laid bare an inconvenient truth: Some U.S. banks are not prepared to borrow from the Federal Reserve if they need to, and a…
By Dawit Endeshaw ADDIS ABABA (Reuters) -Ethiopia’s government declared a six-month state of emergency on Friday in the country’s second-largest region, Amhara, following days of clashes between the military and local Fano militiamen, giving it powers to impose curfews, restrict movement and ban gatherings. The fighting that broke out earlier this week has quickly become…
By Raphael Satter and Kanishka Singh WASHINGTON (Reuters) -Two U.S. Navy sailors have been arrested on charges of handing over sensitive national security material to China, U.S. officials said Thursday. Petty Officer Wenheng Zhao, 26, was charged with conspiracy and bribetaking in connection with taking nearly $15,000 in exchange for photographs and videos of sensitive…
By Monica Machicao HUARINA, Bolivia (Reuters) – The parched shoreline and shrinking depths of Lake Titicaca are prompting growing alarm that an ago-old way of life around South America’s largest lake is slipping away as a brutal heat wave wreaks havoc on the southern hemisphere’s winter. Like many places suffering deadly consequences of climate change,…
By David Shepardson WASHINGTON (Reuters) -Hyundai Motor and Kia said on Thursday they are recalling more than 113,000 newer vehicles in North America because of fire risks and urged owners to park outside and away from structures pending repairs. The recall covers the Hyundai 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles and 2023-2024…
WASHINGTON (Reuters) -The U.S. Army on Friday became the second branch of the U.S. military to no longer have a Senate-confirmed leader, as a Republican senator continues to block military nominations, a move military leaders said threatens readiness and undermines retention of officers. Retiring Chief of Staff of the Army General James McConville relinquished command…
By Milana Vinn NEW YORK (Reuters) – UBS Group AG is reshuffling its technology, media and telecommunications (TMT) team, elevating some bankers who joined this year as the Swiss bank charts its strategy following its takeover of Credit Suisse, people familiar with the matter said on Friday. The changes are part of a broader shake-up…
By Ross Kerber (Reuters) – A U.S. congressional examination of Chinese stock holdings in BlackRock funds built on MSCI indexes could presage a broader clampdown on U.S. institutional investment in such shares, analysts said, as Washington fears American capital could help Beijing gain military or technological advantages. Relations between the two countries are at a…
By Ismail Shakil OTTAWA (Reuters) -The Canadian economy unexpectedly shed a net 6,400 jobs in July while the jobless rate ticked up to 5.5%, data showed on Friday, cementing analyst expectations that the Bank of Canada will pause its interest rate hike campaign. Analysts polled by Reuters had forecast a net gain of 21,100 jobs…
By Doina Chiacu and Katharine Jackson (Reuters) – Republican presidential candidate Chris Christie met with Ukrainian President Volodymyr Zelenskiy in Kyiv on Friday and underscored strong U.S. support for its fight against Russia. Christie, once an ally of former President Donald Trump, is challenging him for their party’s nomination in the 2024 election – and…
