By Chibuike Oguh NEW YORK (Reuters) -Shares of U.S. regional lenders fell on Friday after CNN reported that U.S. Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary following a series of bank failures. Yellen also reaffirmed the strength and soundness of the country’s banking system at the meeting with…
(Reuters) – Deposits at all U.S. commercial banks slipped last week and overall credit provided by banks edged lower as well, Federal Reserve data released on Friday showed. Deposits in the week ending May 10 totaled $17.10 trillion on a nonseasonally adjusted basis, down from $17.16 trillion a week earlier, the Fed’s weekly snapshot of…
By Hyunjoo Jin San Francisco (Reuters) – Tesla is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory following even heavier discounts in Europe, according to a Reuters’ review of its website, even as the electric carmaker has raised U.S. prices on most newly ordered cars this month. Facing…
By Andrew Hay TAOS, N.M. Reuters) – A unexpected alliance between traditional woodcutters and federal land managers in New Mexico could provide a model for a push by President Joe Biden’s administration to thin forests near villages and towns at risk of climate-driven wildfires. Near Taos in northern New Mexico, Vicente Fernandez, a mayordomo, or…
NEW YORK (Reuters) – Morgan Stanley CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months. Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen. Shares of Morgan…
By Tatiana Bautzer, Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Morgan Stanley’s James Gorman plans to step down as chief executive within a year but stay on as executive chairman, drawing to a close 13 years in the role during which he built the Wall Street firm into a wealth management powerhouse. Gorman,…
By Timothy Gardner WASHINGTON (Reuters) – The Biden administration has supported for the second time in a week the Mountain Valley natural gas pipeline, a project a key Democratic senator has pushed in legislation to speed permitting of fossil fuel and power transmission projects. Equitrans Midstream Corp’s $6.6 billion Mountain Valley Pipeline has been opposed…
By Leah Douglas (Reuters) -Three employees of the largest agricultural research facility in the U.S. have filed federal whistleblower complaints alleging that the facility’s conditions are hazardous to workers and undermine their research, even as farmers are facing pressing issues like climate change, according to documents reviewed by Reuters and interviews with staff. The Beltsville…
(Reuters) – CureVac NV said on Friday it had filed an expanded patent infringement claim against Pfizer Inc and BioNTech over the use of mRNA technology and that a U.S. court had granted its request to transfer the trial. The company said it filed a counterclaim alleging that Pfizer and its German partner BioNTech infringed…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell said on Friday it is still unclear if U.S. interest rates will need to rise further, as central bank officials balance uncertainty about the impact of past hikes in borrowing costs and recent bank credit tightening with the fact that inflation is proving hard…
