By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bond investors, fearing a recession is around the corner and preparing for an end of the Federal Reserve’s tightening cycle, have embraced the safety of U.S. Treasuries and shed risky exposures in investment grade and high yield credit. The collapse in March of Silicon Valley Bank and Signature…
WASHINGTON (Reuters) -The U.S. Treasury Department is encouraged that First Republic Bank was resolved with the least cost to the Deposit Insurance Fund, and believes the U.S. banking system remains sound and resilient, a Treasury spokesperson said early Monday. U.S. regulators on Monday seized First Republic, the third major U.S. institution to fail in two…
By Hilary Russ NEW YORK (Reuters) – Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand’s sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in…
(This April 28 story has been corrected to attribute the cut taken on subscriptions to iOS and Android platforms, not Twitter, in paragraph 5) (Reuters) – Twitter Inc CEO Elon Musk said on Friday that the social media platform will take a 10% cut on content subscriptions after the first year, as the company looks…
(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers…
By Jack Queen (Reuters) -A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender’s executives for allegedly hiding risks that led to its stunning downfall, legal experts said. The Fed took its own share of the blame for SVB’s sudden…
By Lucinda Elliott and Daniela Desantis ASUNCION (Reuters) -Paraguayan conservative economist Santiago Pena, 44, won the country’s presidential election on Sunday, tightening the ruling Colorado Party’s political grip in the country and defusing fears about the end of diplomatic ties with Taiwan. Pena, who has pledged to maintain Paraguay’s long-standing Taiwan relations, had 42.7% of…
By Anant Chandak BENGALURU (Reuters) – India’s factory activity expanded at its quickest pace in four months in April, driven by solid growth in new orders and output, a private survey showed on Monday, signaling resilient demand and an encouraging outlook. The survey results suggest India will continue to be one of the fastest-growing major…
By Tetsushi Kajimoto and Kentaro Sugiyama TOKYO (Reuters) – Rising inflation and an intensifying labour crunch are prodding smaller local Japanese firms to follow their big counterparts in raising pay, a move that can generate broader wage hikes and encourage the central bank to phase out its massive stimulus. Wages have barely risen in Japan…
By Dhara Ranasinghe and Stefano Rebaudo LONDON (Reuters) – Inflation in the euro area is too high for comfort, meaning markets expect the European Central Bank to deliver its seventh straight interest rate hike on Thursday. With some stability returning to banks after a March rout, hawks may feel confident pushing for a larger hike,…
