MADRID (Reuters) – Recent interest rate hikes by the European Central Bank should be fully transmitted to savers and reflected in higher deposit rates, ECB Vice-President Luis de Guindos said on Thursday. “A full transmission (of monetary policy) requires the remuneration of savings,” De Guindos told a financial event in the northern Spanish city of…
By Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate voted overwhelmingly on Wednesday to advance a tax treaty with Chile, paving the way for final approval of a pact seen as crucial for ensuring access for U.S. companies to lithium, a mineral essential for electric vehicle batteries. The agreement cleared a Senate procedural hurdle by…
By Valerie Insinna, Abinaya V and Shivansh Tiwary PARIS (Reuters) -Spirit AeroSystems will suspend factory production on Thursday at its plant in Wichita, Kansas, the company said, after workers rejected a proposed four-year deal and announced a strike to begin on June 24. Spirit is one of the most consequential suppliers for aerospace heavyweights Boeing…
By Pete Schroeder WASHINGTON (Reuters) -U.S. banks are pushing to soften a major regulatory proposal to hike bank capital requirements, worried it could prove too onerous, especially for lenders still reeling from the March banking crisis, according to six people briefed on the matter. Bank regulators led by the U.S. Federal Reserve are finalizing the…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – The first Paris Airshow in four years has clocked up billions of dollars in commercial jet orders and offered some respite for suppliers as air travel springs back sharply from the pandemic. The industry returned to Le Bourget with high expectations of…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares briefly hit their lowest level in nearly three months on Thursday, with London stocks falling after a bigger-than-expected rate hike by the Bank of England (BoE) . The pan-European STOXX 600 index closed 0.5% lower, after falling as much as 1.3% earlier in the day,…
By Jonathan Stempel NEW YORK (Reuters) -JPMorgan Chase has been fined $4 million by the U.S. Securities and Exchange Commission after about 47 million emails belonging to its retail banking group were mistakenly and permanently deleted. The emails dated from Jan. 1 to April 23, 2018, and were deleted in June 2019 from about 8,700…
By Karol Badohal and Supantha Mukherjee WROCLAW, Poland/STOCKHOLM (Reuters) – Poland’s third-largest city Wroclaw beat rivals last week to be home to the next multi-billion dollar Intel chip factory in Europe, with a two-year campaign promising subsidies, infrastructure, talent and a slice of American life. In the face of an unprecedented semiconductor shortage, Europe is…
By David Shepardson WASHINGTON (Reuters) -National Transportation Safety Board chair Jennifer Homendy on Thursday vowed to ensure accountability and propose new safety recommendations in its investigation into the Feb. 3 Norfolk Southern train derailment in East Palestine, Ohio. Homendy said at the start of a two-day investigative hearing in Ohio the sessions “will help us…
(Reuters) – Lordstown Motors founder and former CEO Stephen Burns has sold his entire stake in the electric-vehicle maker, according to a regulatory filing. The company in May implemented a reverse stock split to comply with Nasdaq’s minimum $1 listing requirement and appease investor Foxconn that had threatened to scrap a $170 million funding in…
