WASHINGTON (Reuters) – The first of 12 fiscal 2024 spending bills overcame a procedural hurdle in the Republican-controlled U.S. House of Representatives on Wednesday, as lawmakers edged toward a looming showdown with the Democratic-led Senate that could trigger a government shutdown this autumn. The House voted 217-206 to approve a rule allowing debate on an…
By Luc Cohen, Jonathan Stempel and Jody Godoy NEW YORK (Reuters) -The British billionaire Joe Lewis pleaded not guilty on Wednesday to orchestrating what prosecutors called a “brazen” insider trading scheme by passing tips about companies in which he invested to friends, private pilots and a former girlfriend. Lewis, 86, whose family trust controls a…
By Jonathan Landay WASHINGTON (Reuters) – The United States and Russia blamed each other for a lack of progress on arms control following a U.S. proposal to open talks on a “framework” that would preserve curbs on strategic nuclear weapons deployments when the current limits expire in 2026. Russia’s apparent rejection of the plan last…
By Niket Nishant and Tanay Dhumal (Reuters) -Mastercard has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States. Most banks in the country do not service cannabis companies as marijuana remains illegal at the…
NEW YORK (Reuters) – U.S. interest rate futures on Wednesday saw an increased probability of another interest rate increase by the Federal Reserve this year in September after Chair Jerome Powell said the Fed has not ruled out raising rates in consecutive meetings. The Fed raised rates by 25 basis points (bps) on Wednesday, as…
(Reuters) -Mercedes-Benz on Wednesday raised its full-year forecast for operating profit, on the back of higher prices that helped the luxury carmaker shrug off higher material costs and negative currency effects. The German automaker said it now expects earnings before interest and tax (EBIT) in 2023 to be on par with the 20.5 billion euros…
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau shuffled much of his cabinet on Wednesday with the aim of increasing focus on economic issues like a housing shortage and the rising cost of living that have hurt his standing with voters. It could be the last shakeup before an election,…
(Reuters) -JPMorgan Chase & Co will buy almost $2 billion worth of mortgages to facilitate Banc of California’s purchase of PacWest Bancorp, a source with knowledge of the matter told Reuters. The investment bank has entered into an agreement to buy $1.8 billion of single-family residential loans at a discount, the source said. Banc of…
By Trevor Hunnicutt and Kanishka Singh WASHINGTON (Reuters) – Ukraine’s counteroffensive is “not a stalemate” even if it is not progressing fast enough, White House national security spokesman John Kirby told reporters on Wednesday. Kirby made the remarks when asked about the pace of Ukraine’s counteroffensive in a press briefing. “President Zelenskiy himself has said…
By Brendan Pierson (Reuters) – The Biden administration has asked a federal appeals court to lift an order sharply curbing government officials’ communications with social media companies as a lawsuit accusing U.S. officials of seeking to censor certain views about COVID-19 and other topics online makes its way through the courts. In a filing Tuesday…
