By Greg Roumeliotis (Reuters) – The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down more than 40% in extended trading. The U.S. banking regulator decided the troubled regional lender’s position has deteriorated…
(Reuters) – Deposits at commercial U.S. banks dipped in the week ended April 19, signaling no fresh worries about bank safety of the kind that drove sharp outflows in the week immediately following the collapse of Silicon Valley Bank, data released on Friday by the Federal Reserve showed. Deposits at large U.S. banks fell to…
By David Shepardson WASHINGTON (Reuters) -Some Federal Aviation Administration (FAA) engineers recommended grounding the Boeing 737 MAX in March 2019 after a second fatal crash and before the agency took action, a report released Friday said. The Transportation Department’s Office of Inspector General said in a report that its review of emails and interviews of…
By Chibuike Oguh and Bansari Mayur Kamdar NEW YORK (Reuters) – The U.S.-listed shares of small and micro-cap Chinese firms soared on Friday, reminiscent of meme-like rallies last summer that were underpinned by strong demand from retail investors. So-called meme rallies are unusual share price gains, driven by social media sites patronized by individual traders….
By Jennifer Rigby and Maggie Fick LONDON (Reuters) – Pfizer Inc has pledged to deliver critical new medicines more quickly in low-income nations, but its first such vaccine effort faces hurdles likely to delay distribution in poorer countries by several years, global health officials told Reuters. Pfizer made a commitment on more equitable access last…
By Scott DiSavino NEW YORK (Reuters) -Oil prices gained about 2% on Friday after U.S. data showed crude output was declining while fuel demand was growing. Brent crude futures rose $1.16, or 1.5%, to $79.53 a barrel by 12:24 p.m. EDT (1624 GMT), while West Texas Intermediate (WTI) crude rose $1.99, or 2.7%, to $76.75….
WASHINGTON (Reuters) -A U.S. federal judge on Friday denied Google’s motion to dismiss a Department of Justice antitrust case focused on advertising technology, saying the government’s case was strong enough to go forward. The government, which filed the ad tech lawsuit in January, has argued that Google should be forced to sell its ad manager…
LONDON (Reuters) – Uncertainty over the economic outlook and the banking sector prompted investors to move money back into cash and gold in the week to Wednesday, according to BofA Global Research. But the current environment is tricky to trade, as evidenced by a push into perceived risky assets such as tech stocks and the…
By Shilpa Jamkhandikar, Aditya Kalra and Munsif Vengattil MUMBAI (Reuters) – The video streaming business of Mukesh Ambani, Asia’s richest person, is likely to focus on pricing and local content following a deal with Warner Bros as it seeks to challenge the likes of Disney and Netflix in India, industry sources said. Under the content…
WASHINGTON (Reuters) – U.S. consumer spending was unchanged in March, while underlying inflation pressures remained strong, which could see the Federal Reserve raising interest rates again next month. The unchanged reading in consumer spending last month, reported by the Commerce Department on Friday, followed a downwardly revised 0.1% gain in February. Consumer spending, which accounts…
