(Reuters) – Shares of major U.S. regional banks fell further on Tuesday in the aftermath of the collapse of First Republic Bank, the largest U.S. bank failure since the 2008 financial crisis. JPMorgan Chase & Co on Monday bought a majority of First Republic Bank’s assets. Here is what analysts are saying about the sell-off…
By Julia Payne BRUSSELS (Reuters) – A group of 19 European Union member states are pushing for measures to reduce the bloc’s dependency on Chinese imports of pharmaceutical ingredients, a paper dated May 2 showed. The move comes a week after the European Commission proposed an overhaul of the legislation governing its 136 billion euro…
By Scott DiSavino NEW YORK (Reuters) -Oil prices sank about 5% to a five-week low on Tuesday on concerns about the economy as U.S. politicians discuss ways to avoid a debt default and investors prepare for more rate hikes this week. Brent futures fell $3.99, or 5.0%, to settle at $75.32 a barrel, while West…
By Karen Brettell NEW YORK (Reuters) – The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points. U.S. job openings fell for a third straight month and layoffs increased to the highest level…
By Dietrich Knauth (Reuters) -Revlon Inc said on Tuesday that it has emerged from bankruptcy after cutting more than $2.7 billion in debt and handing control of the beauty products company to its lenders. CEO Debra Perelman said in a statement that Revlon is stronger after bankruptcy and well positioned for long-term growth. “We look…
By Andrea Shalal and Nandita Bose WASHINGTON (Reuters) -President Joe Biden will not negotiate over the debt ceiling during his meeting with four top congressional leaders on May 9, but he will discuss starting “a separate budget process” to talk about spending priorities, the White House said on Tuesday. Biden on Monday summoned the four…
By Arshreet Singh (Reuters) – U.S. lithium miners Albemarle and Livent are expected to report a rise in quarterly profit this week, but investor focus will likely be on how they plan to navigate the slide in prices for the metal used in electric-vehicle batteries. Strong demand for EVs and limited supply of the metal…
By Howard Schneider WASHINGTON (Reuters) – A continued drop in job openings and a dip in the rate at which workers are quitting have kept alive, for now, a key Federal Reserve narrative that the economy can slow without a major crack in employment. New data for March showed the ratio of job openings to…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell for a third straight month in March and layoffs increased to the highest level in more than two years, suggesting some softening in the labor market that could aid the Federal Reserve’s fight against inflation. Still, the labor market remains tight, with the monthly Job…
By Mayela Armas CARACAS (Reuters) – Some of U.S. oil major Chevron Corp’s export earnings from its Venezuela operations are bolstering supplies of U.S. dollars in the South American country, three sources with knowledge of the matter told Reuters. Chevron operates in Venezuela, which is under U.S. sanctions, with special authorization from Washington. It received…
