By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed lower on Tuesday and benchmark Treasury yields extended their rise as mixed economic data, weak corporate results and ongoing debt ceiling negotiations in Washington dampened investor risk appetite. While all three major U.S. stock indexes ended down, the tech-heavy Nasdaq’s losses were held in check…
(This May 15 story has been corrected to say ‘million,’ not ‘billion,’ in paragraph 8) By Carolina Mandl SAO PAULO (Reuters) – Bridgewater Associates, one of the world’s largest hedge funds, sold U.S. bank stocks in the first quarter as the collapse of regional lenders rattled investors, according to regulatory filings. The firm, founded by…
By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s Finance Ministry is preparing a new set of initiatives to increase tax revenue, including a review of deductions and exemptions for income tax on individuals, according to three sources familiar with the matter. The potential measures aim to shore up Brazil’s fiscal stability as leftist…
By Brendan O’Boyle MEXICO CITY (Reuters) -Negotiations over the sale of Citigroup Inc’s Mexican retail bank Citibanamex are “going really well” and the government is upbeat about conglomerate Grupo Mexico’s possible purchase, President Andres Manuel Lopez Obrador said Tuesday. Lopez Obrador said the mining and transport conglomerate remains one of the possible buyers of the…
WASHINGTON (Reuters) -President Joe Biden said on Tuesday he has vetoed legislation passed by the U.S. Congress that would repeal exemptions on American tariffs on imported solar panels from four Southeast Asian nations. The waivers for duties on panels made in Malaysia, Cambodia, Vietnam and Thailand, granted by Biden in June 2022, are set to…
By David Lawder WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Tuesday the Biden administration was “extremely focused” on reaching a “green steel” arrangement with the European Union and other partners that disadvantages carbon-intensive steel from China and elsewhere. Raimondo told an American Iron and Steel Institute conference in Washington that she was…
LONDON (Reuters) -An investor consortium including U.S. buyout firm Blackstone and Thomson Reuters, the publisher of Reuters News, is looking to sell around $3 billion worth of shares in the London Stock Exchange Group, according to a term sheet shared by an investment bank involved in the sale on Tuesday. The accelerated stock offering, unveiled…
By Pete Schroeder and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve will unveil its plan to ratchet up capital rules for banks this summer and will ensure supervisors more aggressively police lenders following several recent bank failures, its top regulatory official told Congress on Tuesday. Fed Vice Chair for Supervision Michael Barr said the agency…
By Chibuike Oguh and Niket Nishant (Reuters) – Shares of U.S. regional lenders rose on Monday, led by a rebound in PacWest Bancorp, as investors turned their attention to the U.S. debt ceiling debate instead of the crisis of confidence that has led to the collapse of three banks in two months. Regional bank stocks…
By Allison Lampert (Reuters) – Higher pay remains an obstacle for Canada’s WestJet Airlines and its pilots to secure an agreement and avert a possible work stoppage on Friday, as a smaller rival on Tuesday said it was adding flights in case of a strike or lockout. Pilots at Onex Corp-owned WestJet gave notice on…
