By David Randall NEW YORK (Reuters) – Soros Fund Management, the family office of billionaire George Soros, slashed its stakes in electric vehicle makers Tesla Inc and Rivian Automotive in the first quarter, and added Netflix Inc shares, filings released Friday showed. Soros purchased shares of Tesla and electric truck startup Rivian in 2022 and…
(This May 11 story has been corrected to change some wording in the quote by Dr. Mafi in paragraph 15) By Deena Beasley (Reuters) – Wide coverage of Alzheimer’s drug Leqembi would raise future costs for the U.S. Medicare health plan by $2 billion to $5 billion a year, according to a study led by…
By Andrea Shalal NIIGATA, Japan (Reuters) -The risk of a U.S. payments default is adding to problems facing a slowing global economy, with rising interest rates and high debt levels already choking back investments needed to fuel greater output, World Bank President David Malpass said on Friday. Group of Seven (G7) finance officials meeting in…
By David Shepardson WASHINGTON (Reuters) -A Norfolk Southern freight train that derailed near New Castle, Pennsylvania, on Wednesday night received an alarm several miles before the incident, according to preliminary findings released Friday by the National Transportation Safety Board (NTSB). The derailment of nine train cars was about 20 miles (32 km)from the site of…
By Jeff Mason and Arshad Mohammed WASHINGTON (Reuters) – U.S. President Joe Biden and Spanish Prime Minister Pedro Sanchez underscored their support for Ukraine in the war with Russia on Friday during a White House meeting that also touched on migration and defense cooperation. During a meeting in the Oval Office, Biden said that “together…
By Herbert Lash NEW YORK (Reuters) -The dollar rose on Friday but a gauge of global stocks retreated on a report that showed U.S. consumer sentiment slumped to a six-month low in May, reinforcing bearish investor sentiment over talks to raise the U.S. government’s debt ceiling. The dollar strengthened against the euro, yen and other…
WASHINGTON (Reuters) -U.S. Deputy Secretary of State Wendy Sherman, the country’s number two diplomat, said on Friday she will retire at the end of June after three decades in Washington’s foreign policy establishment. Sherman is the first woman to serve in her current role, in which she has headed up the Biden administration’s diplomacy with…
(Reuters) – Deposits at U.S. banks climbed in early May, ticking up from the lowest level in nearly two years while bank lending was little changed at a record level, Federal Reserve data released on Friday showed. Deposits climbed to $17.16 trillion in the week ended May 3, up about $67 billion to mark the…
By Richard Cowan WASHINGTON (Reuters) – The Washington standoff over raising the U.S. government’s $31.4 trillion borrowing limit is adding to global economic worries, as a new non-partisan congressional report cited “significant risk” of a historic default within the first two weeks of June. The U.S. Congressional Budget Office report, issued Friday morning, confirms Treasury…
(Reuters) -Shares of major U.S. regional lenders edged higher on Friday, reversing early losses in skittish trading as investors bought some battered stocks but remained uncertain about the financial stability of mid-sized banks. Western Alliance rose 2.1%, Synovus Financial gained 2.2%, and Truist Financial added 1.8%. The KBW Regional Banking index, which has fallen nearly…
