By Chris Prentice, Trevor Hunnicutt and Andrea Shalal NEW YORK (Reuters) – U.S. federal and state officials are assessing whether “market manipulation” caused the recent volatility in banking shares, a source familiar with the matter said on Thursday, as the White House vowed to monitor “short-selling pressures on healthy banks.” Shares of regional banks resumed…
By Jessica DiNapoli NEW YORK (Reuters) -Kellogg Co has a stable reserve of a key ingredient used in its Pop Tarts breakfast pastries that it sources from war-torn Sudan, CEO Steve Cahillane told Reuters in an interview on Thursday. Cahillane said the U.S. food manufacturer did not see any risk to its “safety stock” of…
(Reuters) – Australia’s Downer EDI said on Friday it was served with a second class action lawsuit by certain shareholders alleging breach of disclosures regarding a maintenance contract undertaken by the company’s segment in July 2019. The class action, filed on behalf of shareholders who purchased Downer shares between July 2019 and February 2023, comes…
By Andrea Shalal WASHINGTON (Reuters) -The American Bankers Association on Thursday urged federal regulators to investigate a spate of significant short sales of publicly traded banking equities that it said were “disconnected from the underlying financial realities.” In a letter to U.S. Securities and Exchange Commission Chair Gary Gensler, the lobby group said it had…
SYDNEY, May 5 (Reuters) – Australia’s central bank on Friday warned that risks to inflation were on the upside given low productivity growth, rising energy prices and a surge in rents as population growth out paces all expectations. In a quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) reiterated that interest rates…
By Praveen Menon and Roushni Nair (Reuters) -Australia’s Macquarie Group on Friday forecast higher short-term income from its lucrative commodities trading business as price volatility and increased hedging boosted the company’s annual profit to a record high. The Ukraine war and unpredictable weather in North America have turned Macquarie’s oil, gas and power trading unit…
By Ann Saphir and Dan Burns WASHINGTON – A fight between Republicans and Democrats over the debt limit ceiling could send the U.S. economy into a recession even if the standoff doesn’t actually trigger a debt default, analysts say – and a much worse downturn with perhaps 7.5 million people thrown out of work if…
By Clark Mindock (Reuters) -Environmental groups have sued California regulators over new rules they say will discourage the growth of rooftop solar installations, in violation of state law. Three groups filed a petition on Wednesday asking a state court in San Francisco to review and set aside the California Public Utilities Commission’s policy changes, which…
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) – The Hollywood writers’ strike that kicked off this week could last well into the summer and likely beyond, top executives close to the discussions told Reuters this week. On day three of the walkout that has roiled the industry, the two sides remained so far…
By Noel Randewich and Ankika Biswas (Reuters) – Wall Street ended lower on Thursday after PacWest’s move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase, Wells Fargo & Co and other major financial players. PacWest Bancorp tumbled 51% after it…
