By Karen Brettell (Reuters) – The U.S. Treasury Department is at risk of defaulting on its debt if Congress doesn’t act to lift the debt ceiling before it is reached, which could happen as soon as June 1. For holders of Treasury bills, notes and bonds, that raises uncertainty over whether the issues they hold…
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar strengthened for a fourth straight session on Thursday against a basket of major peers to touch a two-month high, as U.S. data pointed to a resilient economy even after an aggressive rate hike cycle by the Federal Reserve. Weekly initial jobless claims rose by 4,000 last…
(Reuters) – The U.S. Supreme Court has issued several important rulings during its current term that began last October and is due to decide its remaining cases by the end of June including disputes involving race-conscious college admissions practices, President Joe Biden’s student debt forgiveness plan and voting rights. Here is a look at some…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Carl Icahn secured a seat on Thursday for one of his three nominees to the board of gene sequencing machine maker Illumina Inc, a partial victory for the activist investor who is struggling to defend his own company from a shortseller attack. Illumina said that only one of Icahn’s…
By Laura Sanicola (Reuters) – Oil prices settled lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. Brent crude futures settled down $2.10, or 2.7%, to $76.25 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $2.51, or 3.4%,…
By Tim Hepher LISBON (Reuters) – Brazilian aircraft manufacturer Embraer voiced “full support” for Pratt & Whitney as it battles durability problems on recent jet engines, but blamed a separate tussle with engine makers for the suspension of a new turboprop plane project. Chief Executive Francisco Gomes Neto told reporters that Raytheon Technologies unit Pratt…
WASHINGTON (Reuters) – U.S. President Joe Biden said he has had several productive conversations with House Speaker Kevin McCarthy in their standoff over the federal government’s debt ceiling, adding that staff negotiators were continuing talks on Thursday afternoon. Democrat Biden, speaking at a White House event for his new pick to chair the Joint Chiefs…
By Jaiveer Shekhawat and Manya Saini (Reuters) -JPMorgan Chase & Co has told clients with personal credit lines at First Republic Bank that it will no longer offer them when they come up for renewal, a person familiar with the matter told Reuters on Thursday. The bank does not offer personal lines of credit and…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday curbed state and local governments from seizing and selling the homes of people with unpaid property taxes and keeping the proceeds beyond the amount owed, deeming the practice unconstitutional in a ruling in favor of a 94-year-old woman who battled tax authorities in Minnesota. The…
By Raphael Satter and James Pearson (Reuters) – Its name is redolent of an exotic electrical storm. But is the freshly christened hacking group “Volt Typhoon” an imminent danger to American infrastructure, or just a new crop of digital spies playing an old game? Here is what is known about the group and its potential…
