By Richard Cowan and Katharine Jackson WASHINGTON (Reuters) -U.S. House of Representatives Speaker Kevin McCarthy on Monday outlined spending cuts he said his fellow Republicans would demand in exchange for voting to raise the federal government’s $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. His proposals included cutting spending to last year’s levels, capping…
(Reuters) -Asset manager BlackRock Inc is launching a months-long process on Tuesday to help the Federal Deposit Insurance Corp offload $114 billion of assets it picked up recently from failed banks, Bloomberg News reported on Monday, citing emails. Earlier this month, the Federal Deposit Insurance Corp (FDIC) retained BlackRock’s unit to sell the securities portfolios…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks was slightly higher on Monday as investors digested another round of corporate earnings, while the dollar and U.S. Treasuries yields rose after economic data further cemented expectations of a rate hike from the Federal Reserve in May. After the first wave of bank…
(This April 14 story has been corrected to delete the word ‘growth’ from the last line in paragraph 7) By David Randall NEW YORK (Reuters) – Investors are awaiting earnings reports from consumer discretionary companies in coming weeks for a read on how the U.S. economy is faring amid persistently high inflation and the Federal…
(Reuters) -Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better returns elsewhere. Deposits at custodian bank State Street Corp and regional bank M&T Bank Corp fell 3% each, while those at Charles Schwab Corp shrank…
By Huw Jones LONDON (Reuters) – Stock exchanges and asset managers have squared off ahead of European Union negotiations this week over how much information investors should be given to find the best deals on Europe’s fragmented stock markets. The European Parliament and EU states begin negotiations on Tuesday on finalising reform of the bloc’s…
By Davide Barbuscia NEW YORK (Reuters) – Tighter lending conditions after recent bank failures will likely drive the U.S. economy into a shallow recession in the second half of this year, bolstering the case for a gradual increase in exposure to long-term bonds in anticipation of a decline in interest rates, a Vanguard executive said…
By Michael S. Derby (Reuters) – Contrary to how many Federal Reserve officials have tended to focus on longer-run inflation expectations data as a tool to divine real world price pressures, a Cleveland Fed report released on Monday said shorter-run expectations may be the more important factor to watch right now. In the present environment…
By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) – The dollar rose on Monday after New York state factory activity in April increased for the first time in five months, helping bolster expectations the Federal Reserve will raise interest rates in May. Also bolstering the dollar was a report showing confidence among U.S. single-family…
By Rajesh Kumar Singh and Valerie Insinna CHICAGO/WASHINGTON (Reuters) – A manufacturing problem with Boeing Co’s 737 MAX jets that led to a pause in some deliveries threatens to disrupt plans by U.S. carriers to boost capacity to capitalize on a busy summer travel season. It is expected to result not just in lost revenue,…
