By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve, with the greenback also boosted by expectations of a U.S. debt ceiling deal to a avert potential default. The dollar index, a measure…
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) -The young entrepreneur Charlie Javice has been indicted on charges of defrauding JPMorgan Chase & Co, the largest U.S. bank, into buying her now-shuttered college financial aid startup Frank. A four-count grand jury indictment made public on Thursday in Manhattan federal court charges Javice with securities…
By Devayani Sathyan BENGALURU (Reuters) – The Reserve Bank of New Zealand will hike interest rates by a final quarter point on Wednesday then end its most aggressive tightening cycle since adopting the cash rate in 1999, according to a Reuters poll which then showed a pause until year-end. After surprising financial markets with a…
MEXICO CITY (Reuters) -The Bank of Mexico, in a unanimous decision by its five-member board, kept its benchmark interest rate steady at 11.25% on Thursday, ending a nearly two-year rate-hike cycle, and said it would keep the rate at that level for an extended period. The decision was in line with analysts’ expectations. To get…
By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When prices go up, it tends to stick,” said Prange, who oversees $3 billion worth of purchases of electronic parts, plastics, and metal as…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen reaffirmed the strength and soundness of the country’s banking system in a meeting with bank CEOs on Thursday, a Treasury Department statement said. During the meeting with more than two dozen CEOs and executives convened by the Bank Policy Institute, Yellen also discussed the “urgent need” for…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting…
By Libby George LONDON (Reuters) – Turkey’s lira weakened to a record low against the dollar on Thursday, after incumbent Tayyip Erdogan’s lead in presidential elections surprised markets, while the nation’s sovereign dollar bonds steadied after a three-day post-election rout. The cost of insuring the country’s debt against default fell slightly, but equity markets and…
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% on Thursday after solid U.S. economic data spurred the dollar to reach a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June. Brent futures fell $1.10, or 1.4%, to settle at $75.86 a barrel. U.S. West Texas…
NEW YORK (Reuters) – The negative impact of currency fluctuations on North American companies’ results fell in the fourth quarter of 2022 compared with the previous quarter, data from treasury and financial management firm Kyriba showed on Thursday. The collective exchange-rate hit, including on companies in the United States, Canada and Mexico, was $28.94 billion…
