By Stephanie Kelly NEW YORK (Reuters) – Oil futures dipped on Tuesday as weaker-than-expected economic data in China and the United States offset a forecast of higher global demand from the International Energy Agency (IEA). Brent crude futures settled 32 cents lower to $74.91 a barrel. U.S. West Texas Intermediate crude edged down 25 cents…
(Reuters) – The World Health Organization called for caution on Tuesday in using artificial intelligence for public healthcare, saying data used by AI to reach decisions could be biased or misused. The WHO said it was enthusiastic about the potential of AI but had concerns over how it will be used to improve access to…
(Reuters) -WeWork Inc on Tuesday said that Sandeep Mathrani would step down as the workspace provider’s chief executive officer, effective May 26, while Sycamore Partners named him as a director to lead its real estate activity. Mathrani was named WeWork CEO in 2020 and tasked with the company’s turnaround following a botched IPO attempt and…
LONDON (Reuters) – Global regulators will shortly propose the first set of international rules for cryptoassets, including how existing norms could apply to the sector, a top regulator said on Tuesday. Cryptoasset companies are calling for a globally-coordinated approach to give certainty to the sector as they face a “fire hose” of differing approaches. The…
By Hannah Lang, Tatiana Bautzer, Pete Schroeder and Ann Saphir WASHINGTON/NEW YORK (Reuters) – The former chief executive of Silicon Valley Bank defended the U.S. lender’s efforts to manage risk in his first public comments after the bank’s shock collapse, as regulators promised better supervision to prevent more such failures. The top executives at SVB…
AMELIA ISLAND, Florida (Reuters) – Changing interest rates in “smaller, less frequent steps” can make it less likely that U.S. Federal Reserve monetary policy causes financial instability, Dallas Fed President Lorie Logan said on Tuesday. “Gradual policy adjustments can be helpful,” Logan said at an Atlanta Fed economic conference. While not commenting on an upcoming…
(Reuters) – New York Community Bancorp Inc said on Tuesday the Federal Deposit Insurance Corporation is selling the bank’s shares owned by the regulator following the Signature Bank deal. A unit of New York Community Bancorp in March entered an agreement with U.S. regulators to buy deposits and loans from New York-based Signature Bank which…
By David Brunnstrom and Michael Martina WASHINGTON (Reuters) – The speaker of Taiwan’s parliament praised Japan, South Korea and the Philippines on Tuesday for helping to create a “crescent of defense” with Taiwan and the U.S. against China’s ambitions in the Indo-Pacific region. Speaking in Washington, You Si-kun told the Hudson Institute think tank that…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar edged higher on Tuesday in choppy trading, with no clear direction, as investors kept an eye on debt ceiling talks to avert a possible default that could reverberate across asset markets and damage confidence in the world’s largest economy. The dollar index, a measure of the…
By Dietrich Knauth NEW YORK (Reuters) – Vice Media received court permission on Tuesday to borrow $5 million to fund its bankruptcy, saying it will use the money in part to pay freelancers and prepare the company for a sale. U.S. Bankruptcy Judge John Mastando at a hearing in Manhattan said he would allow Vice…
