By Jarrett Renshaw WASHINGTON (Reuters) – Aides for President Joe Biden and Republican House Speaker Kevin McCarthy have been discussing tightening work requirements for food and other programs for low-income Americans ahead of a debt ceiling meeting between the two leaders on Tuesday, according to two sources familiar with the discussions. The discussions have been…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending appears to have increased solidly in April, with households boosting purchases at online retailers as well as spending more at restaurants and bars, signs of resilience in the face of growing headwinds to the economy. The economy’s improving fortunes were further bolstered by other data on…
By Nupur Anand and Niket Nishant NEW YORK (Reuters) – JPMorgan Chase & Co CEO Jamie Dimon said that it is “unlikely” that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank. “It [First Republic] will further help advance our wealth as well as other initiatives,” Dimon…
UNITED NATIONS (Reuters) – Global economic growth is projected to be 2.3% in 2023, up 0.4 percentage points from a January forecast, and the prediction for 2024 has dropped 0.2 percentage points to 2.5%, according to a United Nations report released on Tuesday. “Despite this uptick, the growth rate is still well below the average…
By Sarah Young and David Milliken HOVE, England (Reuters) – Two workers glide between a computer screen and a stainless steel vat making face cream, a scientist in a white coat mixes a formula and a colleague sticks labels on bottles. Apart from the whir of machines, there is silence: this is “deep work time”…
LONDON (Reuters) – The head of Britain’s anti-trust regulator said it was not seeking to create a “hostile environment” for tech companies with its decision to block Microsoft’s $69 billion acquisition of Activision Blizzard. The Competition and Markets Authority (CMA), which operates independently from government, caused shockwaves in April when it said the deal could…
By David Shepardson WASHINGTON (Reuters) -Chrysler-parent Stellantis said on Tuesday it is recalling 219,000 Jeep Cherokee SUVs worldwide for fire risks and warned owners to park outside until repairs are made. The recall covers 2014 through 2016 model year Jeep Cherokee vehicles equipped with a power liftgate. An electrical short in the power liftgate module…
(Reuters) – Richmond Federal Reserve President Thomas Barkin on Tuesday he likes the “optionality” implied in the central bank’s latest policy statement, but he is “comfortable” with raising interest rates further if that is what is needed to lower inflation. “I think the message sent in the last statement was one of optionality, it wasn’t…
(Our weekly analysis of the wild world of cryptocurrencies) By Lisa Pauline Mattackal and Medha Singh (Reuters) – Move over dogecoin? “Memecoins” – a hyper-speculative, ultra-volatile and somewhat peculiar class of crypto – are back in the spotlight after the latest digital token hit the market with stratospheric gains. Pepe, a coin inspired by an…
(Reuters) – A U.S. antitrust regulator said on Tuesday it will sue to stop Amgen’s $27.8 billion deal for Horizon Therapeutics Plc, as it would give Amgen “monopoly positions” in treatments for thyroid eye disease and chronic refractory gout. Here is a list of some mergers that recently faced strong antitrust scrutiny around the world:…
