NIIGATA, Japan (Reuters) – German Finance Minister Christian Lindner on Friday said he hoped politicians in the United States would come to a “grown-up” decision on talks to raise the federal debt ceiling, warning there was a risk to the global economy if they did not. Speaking on the sidelines of the G7 summit in…
LUCERNE, Switzerland (Reuters) -UBS Chief Executive Sergio Ermotti said on Friday that the situation at Credit Suisse has stabilized and he did not think outflows at the embattled bank were continuing. Addressing the Swiss Media Forum in Lucerne, Ermotti also said he hoped there would be an investigation into the circumstances that pushed Credit Suisse…
By Xinghui Kok SINGAPORE (Reuters) -Singapore’s longest-serving central banker Ravi Menon has been reappointed in his role for another two years, the Monetary Authority of Singapore (MAS) said on Friday. Menon’s term as managing director of MAS was due to end on May 31. There had been earlier reports that he was to be…
NIIGATA, Japan (Reuters) – U.S. Treasury Secretary Janet Yellen met German Finance Minister Christian Lindner on Friday, underscoring the importance of working together to counter evasion of Western sanctions imposed on Russia over its war in Ukraine, Treasury said. Yellen and Lindner met on the sidelines of a Group of Seven finance officials meeting in…
FRANKFURT (Reuters) – European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors (ECA) said on Friday in a report that highlighted a number of shortcomings. The ECB supervises just over a hundred of the euro…
By Rollo Ross and Danielle Broadway BURBANK, California (Reuters) – As striking Hollywood writers protest working conditions, some are seeking more than a new labor contract. They are also looking for love on the picket lines. Single members of the Writers Guild of America gathered outside the Universal Studios lot this week for a combination…
By Yadarisa Shabong (Reuters) -British online retail platform THG Plc ended talks with Apollo Global Management on Friday, saying there was “no merit” in further discussions after it rejected the private equity firm’s buyout proposal based on “inadequate valuations”. Apollo, in a separate statement, said it no longer planned to make an offer for the…
(Reuters) – JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa’s 2023 gross domestic product versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts. The bank added that prolonged power cuts above the current record level referred to as “Stage 6” would worsen…
(Reuters) – The U.S. Federal Reserve will probably need to raise interest rates further if inflation stays high, Fed Governor Michelle Bowman said on Friday, adding that key data so far this month has not convinced her that price pressures are receding. “Should inflation remain high and the labor market remain tight, additional monetary policy…
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Governor Michelle Bowman said Friday that the central bank should hire an outside party to further examine the events that led to the abrupt failure of Silicon Valley Bank, arguing in a rare Fed insider’s critique that it is a necessary supplement to its own internal review….
