By Michael S. Derby NEW YORK (Reuters) -New York Federal Reserve President John Williams said on Friday the U.S. and other major economies are still in a fundamentally low-interest-rate world despite the impact of the COVID-19 pandemic and the inflation surge that arose from it. “There is no evidence that the era of very low…
By Pete Schroeder WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation’s largest bank, JP Morgan Chase. In a letter sent to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation Wednesday, Warren said the deal was…
By Lisa Richwine LOS ANGELES (Reuters) – The board of Hollywood’s actors union asked members on Thursday to give negotiators the power to call a strike, a move that would add new pressure to major studios already facing a writers’ strike. The SAG-AFTRA actors union set a June 5 deadline for its 160,000 members to…
(Reuters) – Wall Street’s main indexes opened higher on Friday on optimism that a deal to avoid a catastrophic U.S. debt default could be reached over the weekend. The Dow Jones Industrial Average rose 47.04 points, or 0.14%, at the open to 33,582.95. The S&P 500 opened higher by 6.10 points, or 0.15%, at 4,204.15,…
NEW YORK (Reuters) – New York Fed president John Williams declined on Friday to connect the current monetary policy outlook to new work of his that reconfirms major economies are still in a fundamentally low interest rate world. “I’m not going to opine on what monetary policy should or should not do” in light of…
(Reuters) – U.S. equity funds saw an eighth straight week of net outflows in the seven days to May 17 as soft U.S. economic data and debt ceiling talks weighed on investor sentiment. Investors sold U.S. equity funds with a net value of $7.64 billion over the period, compared with $5.64 billion of net disposals…
Federal Reserve Governor Michelle Bowman on Friday repeated her call for the U.S. central bank to hire an outside party to analyze the collapse of Silicon Valley Bank, and against using that failure as a “pretext” for making broad changes to bank regulation. “We should consider whether there are necessary – and targeted – adjustments…
MILAN (Reuters) -The European Central Bank is considering whether requirements tailored for individual lenders could help address the risks arising for those holding large amounts of uninsured deposits, a document showed. A paper ECB supervisors prepared for this week’s meeting of euro zone finance ministers said recent banking turmoil showed “increased attention needs to be…
May 19 (Reuters) – Canadian retail sales fell by 1.4% in March from February at C$65.29 billion ($48.83 billion), on lower sales at motor vehicles and parts dealers, as well as gasoline stations, Statistics Canada said on Friday. Sales were seen to rise by 0.2% in April, the agency said in a flash estimate. Sales…
(Reuters) – Global equity funds suffered outflows for a fifth straight week in the week to May 17, undermined by uncertainties over U.S. debt ceiling and concerns about global economy, with soft economic data coming out of the U.S. and China. According to Refinitiv Lipper data, global equity funds faced $8.72 billion worth of outflows…
