(Reuters) -The United States’ “AAA” credit rating will remain on negative watch, despite a debt limit agreement that will allow the government to meet its obligations, Fitch Ratings said on Friday. The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government’s $31.4 trillion debt ceiling, following months of…
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to manage demand, mask pressure on…
By Eliana Raszewski BUENOS AIRES (Reuters) -Argentina has signed a deal to renew its currency swap line with China and double the amount it can access to near $10 billion, the South American country’s central bank said in a statement on Friday, a boost to its dwindling foreign currency reserves. The bank said that the…
BRASILIA (Reuters) – Brazil’s central bank chief Roberto Campos Neto expressed his opposition on Friday to the creation of a common currency, stating that in the era of digitalization it is unnecessary to have a shared currency for its purported benefits. “That is a very old idea that solves a problem that doesn’t exist anymore,”…
By Davide Barbuscia NEW YORK (Reuters) -While a U.S. default on its debt has been averted, the possibility of another credit rating downgrade remains, as 11th-hour debt ceiling negotiations have become an almost regular feature in recent U.S. history. The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the…
By Jonathan Landay and Arshad Mohammed WASHINGTON (Reuters) – The United States does not need more nuclear weapons to deter the combined forces of Russia and China because of its advanced military capabilities, U.S. national security adviser Jake Sullivan said on Friday. Sullivan also said Washington will abide by the limits on strategic nuclear weapons…
(Reuters) – French company Orpea, hit by allegations of malpractice at its care homes and a sharp drop in valuation, said on Friday it made a drawdown of 200 million euros ($214.24 million) from new financing by its main banking partners. Orpea said it will use the funds to finance and refinance corporate purposes of…
(Reuters) – Shares of U.S. banks rose on Friday after the U.S. Senate on Thursday passed bipartisan legislation that lifted the government’s $31.4 trillion debt ceiling and averted a historic default. Shares of JPMorgan Chase & Co, Goldman Sachs, Morgan Stanley, Citigroup, Wells Fargo and Bank of America gained between 2.2% and 3.8% Their mid-sized…
(Reuters) – Citizens Financial Group Inc is not looking to do many acquisitions in the near term, the bank’s Chief Executive Bruce Van Saun said at a conference on Friday, adding that the lender’s “strong” capital could instead be used for buybacks. The bank was one of several bidders for the assets of First Republic…
By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co’s President and Chief Operating Officer Daniel Pinto said loan demand is declining at a time when regional and small banks are also tightening credit. “There is no doubt that regional banks and smaller banks are building up liquidity, building capital, so…
