By David Lawder (Reuters) -World Bank Group President Ajay Banga on Tuesday said proposed new contributions from wealthy countries combined with balance sheet changes could boost the bank’s lending capacity by $100 billion to $125 billion over a decade. Banga told a Council on Foreign Relations event that the contributions would come outside the bank’s…
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase reorganized the leadership in its investment bank, promoting a new head in North America to succeed Fernando Rivas, who plans to retire, according to a memo seen by Reuters. Rivas, who previously ran the financial institutions group, was one of JPMorgan’s lead negotiators in its purchase of…
By Nicole Jao NEW YORK (Reuters) -Oil prices settled nearly 1% higher on Tuesday, rebounding from a slump to a two-week low in early trading as expectations of tighter supply outweighed worries that an uncertain economic outlook would crimp demand. Brent crude futures settled 67 cents higher, or 0.7%, at $93.96 a barrel. U.S. West…
By Brenda Goh and Kane Wu SHANGHAI/HONG KONG (Reuters) -Alibaba Group on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago. Alibaba said on Tuesday it…
By Nate Raymond and Andrew Chung (Reuters) – U.S. Supreme Court Justice Samuel Alito on Friday extended a temporary block on an order restricting the ability of President Joe Biden’s administration to encourage social media companies to remove content it deemed misinformation about COVID-19 and other matters of public concern. The decision to keep the…
By Mike Scarcella (Reuters) – A lawsuit by the U.S. Federal Trade Commission against Amazon.com, expected to be filed as soon as this week, adds to a slew of legal challenges exposing the retail giant to billions of dollars in potential damages. U.S. regulators have been probing Amazon.com and other Big Tech companies for antitrust…
By Sinead Cruise and Elizabeth Howcroft LONDON (Reuters) -Goldman Sachs and HSBC are among a group of five banks adopting a common global approach to disclosing clients’ stock positions, a move which participants say could help cut costs and bolster transparency. The group, which also includes Barclays, BNP Paribas and one other bank, is working…