By Chibuike Oguh NEW YORK (Reuters) -Shares of U.S. regional lenders fell on Friday after CNN reported that U.S. Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary following a series of bank failures. Yellen also reaffirmed the strength and soundness of the country’s banking system at the meeting with…
(Reuters) – Deposits at all U.S. commercial banks slipped last week and overall credit provided by banks edged lower as well, Federal Reserve data released on Friday showed. Deposits in the week ending May 10 totaled $17.10 trillion on a nonseasonally adjusted basis, down from $17.16 trillion a week earlier, the Fed’s weekly snapshot of…
NEW YORK (Reuters) – Morgan Stanley CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months. Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen. Shares of Morgan…
By Tatiana Bautzer, Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Morgan Stanley’s James Gorman plans to step down as chief executive within a year but stay on as executive chairman, drawing to a close 13 years in the role during which he built the Wall Street firm into a wealth management powerhouse. Gorman,…
(Reuters) -The Russian branch of environmental group Greenpeace on Friday said it would shut down after authorities declared the group an “undesirable organisation”, effectively banning it from operating. In a statement, Russia’s Prosecutor General said Greenpeace had tried to “interfere in the internal affairs of the state” and was “engaged in anti-Russian propaganda” by calling…
By Leah Douglas (Reuters) -Three employees of the largest agricultural research facility in the U.S. have filed federal whistleblower complaints alleging that the facility’s conditions are hazardous to workers and undermine their research, even as farmers are facing pressing issues like climate change, according to documents reviewed by Reuters and interviews with staff. The Beltsville…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell said on Friday it is still unclear if U.S. interest rates will need to rise further, as central bank officials balance uncertainty about the impact of past hikes in borrowing costs and recent bank credit tightening with the fact that inflation is proving hard…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Friday after Federal Reserve Chair Jerome Powell struck a moderately dovish stance, contrary to market expectations, saying that given how credit conditions have tightened, the U.S. central bank may not need to raise interest rates as much. A pause in negotiations to raise the…
By Lisa Pauline Mattackal and Divya Chowdhury MUMBAI (Reuters) – Investors are looking beyond the U.S. technology sector’s bounceback this year for longer-term returns, as higher interest rates and an uncertain macroeconomic picture could present further headwinds, fund managers and strategists said. The tech-heavy Nasdaq Composite has jumped 21% this year, more than doubling the…
By Noe Torres MEXICO CITY (Reuters) – The Mexican peso could remain the top performer among major global currencies in the coming weeks, despite Mexico’s central bank choosing to halt a nearly two-year rate-hike cycle, analysts said. The currency traded at 17.40 per dollar this week, its strongest in seven years, and experts believe the…
