WASHINGTON (Reuters) – The Federal Reserve Board’s independent review of Silicon Valley Bank’s collapse reinforces the need for “the commonsense regulatory and supervisory reforms” that President Joe Biden has advocated, White House spokesperson Michael Kikukawa said on Friday. “The weakening of safeguards and supervision for large regional banks in the previous administration should be reversed…
By Nichola Groom and Katharine Jackson (Reuters) -The U.S. House of Representatives on Friday voted to repeal President Joe Biden’s suspension of tariffs on solar panels from four Southeast Asian nations, a move aimed at supporting a domestic supply chain but that solar project builders say would stall clean energy development. The resolution passed in…
By Karen Freifeld (Reuters) – Michael Cohen on Monday asked a U.S. appeals court to revive his lawsuit against Donald Trump and other government officials, seeking damages for sending him back to prison in retaliation for publishing a tell-all memoir criticizing the former U.S. president. Lawyers for Cohen said in a filing with the 2nd…
By Daniel Trotta (Reuters) – Montana statehouse Republicans on Wednesday silenced Democratic transgender legislator Zooey Zephyr from floor debates for breaking decorum after she said lawmakers who backed a ban on gender-affirming healthcare for minors would have “blood on your hands.” Under the motion that passed with a vote of 68-32, Zephyr will be allowed…
By Anthony Boadle BRASILIA (Reuters) – President Luiz Inacio Lula da Silva legally recognized six Indigenous territories on Friday, fulfilling a campaign promise to reverse the policy of his far-right predecessor Jair Bolsonaro said Brazil’s original people had too much land. The recognition is crucial to protect Indigenous lands from increasing encroachment by farming and…
(Reuters) – The Federal Reserve and Federal Deposit Insurance Corp issued detailed reports on Friday on what went wrong and where their supervisors came up short in the run-up to the two biggest bank failures since the Great Financial Crisis. Below are key details from the government’s post-mortems, which underscore management failings at Silicon Valley…
By Nupur Anand, Andrea Shalal and Greg Roumeliotis NEW YORK (Reuters) – U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts led by the bank’s advisers have yet to reach a deal, according to three sources familiar with the situation. The Federal Deposit Insurance Corporation (FDIC), the Treasury Department and…
By Brendan Pierson (Reuters) – The Biden administration has asked a federal appeals court to put on hold a judge’s ruling striking down the Affordable Care Act’s mandate that insurers cover preventive care, including screenings for certain cancers and pre-exposure prophylaxis against HIV (PrEP), at no extra cost to patients. In a filing Thursday evening…
By David Morgan WASHINGTON (Reuters) – A prominent moderate U.S. House of Representatives Democrat said Friday that it is time for President Joe Biden to begin daily talks with Republicans on government spending and debt, to avoid a calamitous default. Representative Josh Gottheimer rejected Republican demands to raise the $31.4 trillion debt ceiling only in…
By Echo Wang and Mica Rosenberg FRONTON, Texas -Lihua Wu’s journey to the United States started when she scrolled past the words “The Route”, one of several common hashtags on Douyin, the Chinese counterpart of TikTok, advising migrants on the irregular overland trek across Latin America to the United States, also known online as “the…
