By Michael S. Derby NEW YORK (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Wednesday that the U.S. central bank’s new real-time money moving system is being designed in a way that should help ensure financial stability should bank stress arise. Mester acknowledged concerns that FedNow, a real-time, all-hours payment system the central…
By Josh Smith, Kantaro Komiya and Hyonhee Shin SEOUL/TOKYO (Reuters) -North Korea fired an intercontinental ballistic missile (ICBM) off its east coast on Wednesday, prompting condemnation from the U.S. as well as the leaders of South Korea and Japan who met on the sidelines of a NATO summit. The missile flew for 74 minutes to…
WASHINGTON (Reuters) – U.S. President Joe Biden will host Italian Prime Minister Giorgia Meloni at the White House on July 27, and the two leaders will discuss issues including the Ukraine war and transatlantic cooperation regarding China, the White House said on Wednesday. They will “reaffirm the strong relationship between the United States and Italy,”…
(Reuters) – U.S. economic activity increased slightly in recent weeks, with slow growth seen continuing in coming months, according to a Federal Reserve report published on Wednesday that also offered further indications of abating inflation pressures. “Overall economic activity increased slightly since late May,” the U.S. central bank said in its latest “Beige Book” compendium…
WASHINGTON (Reuters) – The State Department on Wednesday said it has no reason to doubt Microsoft’s accusation that Chinese state-linked hackers since May have secretly accessed email accounts at around 25 organizations, including U.S. government accounts, in a stealthy cyberespionage campaign. State Department spokesperson Matthew Miller said the agency had detected anomalous activity in June…
(Reuters) – Circle said on Wednesday it has reduced staff and ended investments in non-core activities as the stablecoin issuer seeks to shore up its balance sheet. The company joins a list of cryptocurrency firms that have announced layoffs this year as a high interest rate environment and sliding crypto prices have dented investor confidence…
By Luc Cohen NEW YORK (Reuters) -U.S. prosecutors on Wednesday unveiled an indictment charging a second former executive of college financial aid startup Frank with defrauding JPMorgan Chase into buying the company for $175 million. Olivier Amar, 49, who was Frank’s chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy….
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation subsided further, but probably not fast enough to dissuade the Federal Reserve from resuming raising interest rates this month. The report from the Labor Department on Wednesday also showed…
By Daniel Wiessner (Reuters) – Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw Twitter’s employee benefits programs as its “head of total rewards”…
(Reuters) – Nearly 100 million Americans are facing a prolonged spell of sweltering weather this week, with the National Weather Forecast issuing heat advisories for many cities and towns across the country. In many places in the Southwest, where hot summers are the norm, extreme temperatures are in the forecast. Here are some of the…
