By Dietrich Knauth (Reuters) – Silicon Valley Bank’s former owner may need to take out a bankruptcy loan amid uncertainty about the U.S. Federal Deposit Insurance Company’s seizure of $2 billion in cash from the company, its attorney said Wednesday. SVB Financial has about $180 million on hand and is not in “imminent danger” of…
By David Milliken LONDON (Reuters) – Britain received a record 46.4 billion pounds ($57.9 billion) in demand from investors at the launch of a new inflation-linked government bond which will mature in March 2045, the United Kingdom Debt Management Office said on Wednesday. However the strong demand came at a price, with the 4.5 billion…
By Andrea Shalal WASHINGTON (Reuters) – Debt sustainability analyses carried out by the World Bank and International Monetary Fund should reflect the growing share of domestic debt in many developing countries’ overall debt levels, World Bank President David Malpass said on Wednesday. Malpass called for urgent measures to jump-start sovereign debt restructuring efforts for the…
By Caroline Valetkevitch NEW YORK (Reuters) – The estimated decline in first-quarter S&P 500 earnings is getting smaller as more companies report results, Refinitiv data showed Wednesday, with a host of big names including Microsoft Corp reporting upbeat numbers this week. Analysts now expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 companies….
WASHINGTON (Reuters) – South Korea and the U.S. agreed to boost economic partnerships in critical technology industries such as microchips, electric vehicles and batteries, said South Korean President Yoon Suk Yeol. (Reporting By Trevor Hunnicutt and Jarrett Renshaw; Editing by Chris Reese)
By Chibuike Oguh NEW YORK (Reuters) – Shares of Chipotle Mexican Grill Inc soared to a record high on Wednesday after the burrito chain beat analysts’ estimates for first-quarter profit and sales. Chipotle said its revenue rose 17% year-on-year to $2.4 billion, driven by higher restaurant sales, 41 new store openings, and increased demand from…
By Tom Sims FRANKFURT (Reuters) – Deutsche Bank is undertaking its biggest management shake-up since 2019, the German bank said on Wednesday as it announced the departure of Christiana Riley, who oversaw its U.S. operations. Riley’s exit to join Santander follows news last week that Deutsche’s co-deputy chief executive Karl von Rohr was also leaving,…
By Jeff Mason, Trevor Hunnicutt and Andrea Shalal WASHINGTON (Reuters) – Incumbent President Joe Biden entered the 2024 election race on Tuesday with something he didn’t have two-and-a-half years ago: a record in the White House. He plans to run on it, highlighting his successes as an argument for another term, while opposition Republicans likely…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -U.S. Supreme Court justices on Wednesday appeared sympathetic toward a 94-year-old woman in her battle with a Minnesota county government that sold her condominium to cover her unpaid taxes and kept the proceeds beyond the sum she owed in a case testing constitutional checks on excessive fines…
By Chen Lin SINGAPORE (Reuters) -Singapore raised taxes on private property purchases in a surprise move late on Wednesday night that includes a doubling of stamp duties for foreigners to an eye-watering 60%. Authorities in Singapore, where real estate is a safe haven investment for wealthy foreigners, keep close tabs on property prices to ensure…
