By Leah Douglas (Reuters) – Food banks across the United States are straining to meet spiking demand as high food costs and shrinking federal benefits drive scores of Americans to depend on free groceries, just as Republicans seek to narrow access to food assistance. President Joe Biden, who this week criticized Republicans’ proposals to further…
By David Lawder WASHINGTON (Reuters) -Top U.S. regulators on Friday proposed new rules to speed the assessment of financial stability risks and make it easier to designate non-bank institutions as systemically important, subjecting them to Federal Reserve supervision. The multi-regulator Financial Stability Oversight Council released the proposals for public comment just over a month after…
(Reuters) – Deposits at all U.S. commercial banks dropped in the second week of April, though at smaller banks deposits held steady in a sign of stabilization in the financial institutions hardest hit by deposit outflows after last month’s failure of two large regional banks. Federal Reserve data released on Friday showed deposits at all…
By Alexander Villegas and Ernest Scheyder SANTIAGO (Reuters) – Chile’s President Gabriel Boric said on Thursday he would nationalize the country’s lithium industry, the world’s second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment. The shock move in the country with the world’s largest lithium…
By Marc Jones LONDON (Reuters) – Credit Suisse saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank’s troubles last month, data published on Friday showed. The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland’s financial…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Governor Lisa Cook said Friday that the outlook for the next stage of central bank monetary policy has grown less clear after the institution has taken appropriately aggressive steps over the last year to lower price pressures. As the Fed moves toward its next decision…
(Reuters) – Twitter dropped the “Government-funded” and “China state-affiliated” labels, which implies government involvement in editorial content, from the accounts of various global media organizations, their profiles showed on Friday. Twitter dropped the “Government-funded Media” label from the accounts of U.S.-based National Public Radio (NPR), British Broadcasting Corp and Canadian Broadcasting Corporation (CBC). It also…
(Reuters) – Nasdaq Inc on Friday said its board appointed Tal Cohen and Nelson Griggs each as presidents, formalizing the corporate structure the transatlantic exchange operator recently put in place to boost its efforts in major growth areas, like anti-financial crime software. With the appointments, Nasdaq Chief Executive Officer Adena Friedman, who was also appointed…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks declined for a third straight day on Friday as investors weighed the latest round of corporate earnings results, while longer-dated U.S. yields were higher after a gauge of business activity climbed. On Wall Street, the S&P 500 closed slightly higher, with the consumer…
By David Milliken LONDON (Reuters) -The Bank of England needs to focus on tightening monetary policy sufficiently to control inflation, and ensuring that no “inflationary mentality” develops, Bank of England Deputy Governor Dave Ramsden said in an interview published on Friday. “When I look at where inflation is and where it needs to get to,…
