WASHINGTON (Reuters) – Deputy U.S. Treasury Secretary Wally Adeyemo said on Friday that the U.S. government does not have the capability to “triage” payment priorities if the debt ceiling is not raised, adding that invoking the 14th amendment to issue debt will not solve the government’s challenges. Speaking on CNN as the White House and…
LISBON (Reuters) – The head of Brazilian Embraer’s planemaking division dismissed concerns that problems at engine supplier Pratt & Whitney would discourage airlines from placing orders and hinted at some order announcements at the upcoming Paris Airshow. Pratt & Whitney <RTX.N has been facing problems with the durability of its latest engines flying on Embraer…
By Lananh Nguyen NEW YORK (Reuters) – Lazard Ltd said Peter Orszag, a banker and former White House official, will take the helm as its chief executive officer on Oct. 1, when Kenneth Jacobs steps down after 14 years in the top job at the investment bank. Jacobs will become the 175-year-old firm’s executive chairman,…
By Laura Matthews NEW YORK (Reuters) -Some corporate treasurers are stepping up their contingency plans to address any upcoming funding and liquidity needs to get ahead of the risk of debt default as talks in Washington drag on, finance executives and advisors said. With the U.S. Treasury Department warning that the federal government could run…
By Cecile Mantovani KUESNACHT, Switzerland (Reuters) – Well-wishers gathered outside the lakeside home of Tina Turner on Thursday to pay tribute to the music legend who had made Switzerland her home for nearly three decades. Flowers and cards lay outside the house in the picturesque town of Kuesnacht, on the shore of Lake Zurich, where…
ROME (Reuters) – Italy’s second-largest bank UniCredit said on Friday it had entered into an enlarged payments partnership with Mastercard. The agreement covers 13 banks in 12 markets, totalling 20 million cards, and will help deliver payment innovation and enhanced digital experiences to customers, UniCredit said. “This is the first time any large commercial bank…
By Nandita Bose, Jarrett Renshaw and David Morgan WASHINGTON (Reuters) -U.S. President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government’s $31.4 trillion debt ceiling for two years while capping spending on most items, a U.S. official told Reuters. The deal, which is not final,…
A look at the day ahead in U.S. and global markets from Mike Dolan As the AI-led tech stock boom unfolds, there’s light at the end of the U.S. debt ceiling saga – only markets now reckon the Federal Reserve will tighten policy even further this summer. Investors juggled these three strands over the past…
By Nivedita Balu TORONTO (Reuters) -Canada’s no.2 lender TD Bank Group will push ahead with its U.S. expansion by focusing on organic growth, after its M&A-led strategy in the world’s biggest banking market suffered a setback this month, a top official told Reuters on Thursday. TD has made U.S. growth a key priority as it…
SHANGHAI (Reuters) – China’s securities regulator said on Friday it had allowed Morgan Stanley to set up a China futures company in Beijing, to implement the opening-up of the country’s futures market. “In the next step, the China Securities Regulatory Commission (CSRC) will continue to deepen the opening up of the futures market, and support…
