By Andrea Shalal and David Shepardson WASHINGTON (Reuters) -U.S. President Joe Biden and European Commission President Ursula von der Leyen are expected to agree on Friday to begin negotiations on ensuring free-trade agreement-like status for the European Union, two sources familiar with the plans said on Wednesday. The leaders are set to meet in Washington…
By David Morgan WASHINGTON (Reuters) – U.S. House Republicans and Democrats showed no sign of surrendering their partisan positions after a briefing on the nation’s $31 trillion debt on Wednesday, the day before President Joe Biden is due to unveil his 2024 spending plan. Biden said his proposal will cut the nation’s deficit by nearly…
By Carolina Mandl NEW YORK (Reuters) – Hedge funds are increasingly using more leverage to make wagers on the stock market this year, but they remain less inclined to bet on the market direction due to heightened macroeconomic uncertainties. Investors are focused on the economic picture as they try and assess the risk of upcoming…
By Hannah Lang and Anirban Chakroborti (Reuters) -Crypto-focused bank Silvergate Capital Corp said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade. The decision to shutter the bank comes after the…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets are likely to remain under pressure on Thursday, particularly regional currencies, as investors grapple with a stubbornly high dollar and U.S. bond yields following a second round of Congressional testimony from Fed chief Jerome Powell. Chinese…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist hedge funds that often push companies to sell themselves or divest divisions are increasingly calling for top executives to be replaced, a change in tactics driven by a slowdown in mergers and acquisitions (M&A). These investors called for the removal of personnel at 60 U.S. companies last…
By David Morgan WASHINGTON (Reuters) -U.S. House Republicans put a spotlight on the government’s $31.4 trillion debt in a closed-door meeting on Wednesday, while President Joe Biden pledged more aggressive action on the federal deficit, a day before he was due to unveil his 2024 spending plan. Democrats and Republicans were expected to hear from…
By Niket Nishant (Reuters) – JPMorgan Chase & Co is cutting ties with Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, according to a source familiar with the situation. The decision comes days after Silvergate Capital Corp, one of the most influential lenders in the digital asset industry, warned of doubts over its…
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway with a decision hinging on data to be issued before the U.S. central bank’s policy meeting in two weeks. “If – and…
By Helen Reid LONDON (Reuters) – Adidas, burnt by the end of its tie-up with the artist formerly known as Kanye West, needs a new focus but should think more tactically about fresh celebrity partnerships and not count so much on one personality, industry experts said. New chief executive Bjorn Gulden on Wednesday stood by…
