By Anirban Sen NEW YORK (Reuters) – Goldman Sachs Group Inc has promoted Troy Broderick to be the new chief operating officer of its global mergers and acquisitions business, according to an internal memo seen by Reuters. Broderick, who currently leads Goldman’s global M&A capital markets business, will continue to hold his current position in…
By Sinéad Carew NEW YORK (Reuters) – Wall Street stock indexes closed lower on Tuesday, a day ahead of the Federal Reserve’s interest rate decision, while U.S. Treasury yields fell as investors worried the government could run out of cash after June 1 without a debt ceiling hike. Bank stocks underperformed sharply after the weekend…
By David Shepardson WASHINGTON (Reuters) – The Biden administration on Tuesday said it was ramping up a program to address supply chain issues by getting truckers, shippers, wholesalers, retailers and other businesses to share information. The Freight Logistics Optimization Works (FLOW) program, which was launched in March 2022 with 18 companies, now has 53 firms….
By Helen Coster and Kenneth Li NEW YORK (Reuters) -Thomson Reuters Corp on Tuesday reported higher-than-expected sales and operating profit in the first quarter, helped by divestitures and high customer retention rates, as it plans a deeper investment in artificial intelligence. The news and information company reported adjusted earnings of 82 cents per share, beating analyst…
(Reuters) – Federal Reserve Chair Jerome Powell at his press conference on Wednesday is likely to get asked – again – what contingencies he plans for in the event of a U.S. debt default, and he is likely to say – again – that there is no central bank silver bullet to shield the economy…
By Hardik Vyas and Sheila Dang (Reuters) – Twitter’s attempt to implement a paid account verification service has attracted imposters spreading misinformation, which experts said could lead major brands to further pull back from the social media platform owned by billionaire Elon Musk. On April 20, Twitter moved to boost profits by removing the once-coveted…
By Andy Sullivan WASHINGTON (Reuters) – A top White House official said on Tuesday that he was not concerned that President Joe Biden’s signature clean-energy law could cost more than originally anticipated as businesses take advantage of tax breaks that aim to spur green development. “I think this is evidence that the bill was actually…
By Gertrude Chavez-Dreyfuss and John McCrank NEW YORK (Reuters) – A decade after a manipulation scandal turned global regulators and investors against the London Interbank Offered Rate (LIBOR) as the global interest rate benchmark, major clearing houses are in the final weeks of the nearly $50 trillion transition of the U.S. rate swaps market to…
By Niket Nishant and Chibuike Oguh (Reuters) – Shares of regional banks PacWest Bancorp and Western Alliance Bank plunged on Tuesday as the demise of First Republic Bank triggered investor concern about the financial health of other mid-sized lenders. JPMorgan Chase agreed on Monday to acquire a majority of First Republic’s assets in a $10.6…
By David Morgan, Richard Cowan and Katharine Jackson WASHINGTON (Reuters) – Top U.S. Senate Republicans on Tuesday called on President Joe Biden to accept their party’s debt-ceiling package or make a counter-offer, while a top Democrat said the Senate might try to advance a “clean” debt-ceiling hike next week. With barely a month to go…
