NEW YORK (Reuters) – JPMorgan Chase & Co’s CEO Jamie Dimon said the congressional standoff over the U.S. debt ceiling, and a potential U.S. default, could create a financial panic, according to an interview with Punchbowl News published on Wednesday. “Panic isn’t necessarily a rational thing,” the website quoted Dimon as saying. “People panic. And…
By Herbert Lash NEW YORK (Reuters) – A gauge of global stock markets rose and bond yields slid on Wednesday after data showed U.S. consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation. The Consumer Price Index rose 0.4% after rising 0.1% in March,…
WASHINGTON (Reuters) – The House Judiciary Committee was set to consider a bill on Wednesday to pressure the OPEC oil production group to stop making output cuts that can result in higher fuel prices for U.S. drivers. The committee was expected to vote on the so-called No Oil Producing and Exporting Cartels, or NOPEC, bill,…
By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators are seeking more information on Apple’s mobile payment system, the European Commission said on Wednesday, a sign that the enforcer is looking to close any loopholes and boost its case against the iPhone maker. The EU competition watchdog last year accused Apple of restricting rivals’…
By Laura Matthews NEW YORK (Reuters) – The dollar remained stable against a basket of currencies on Wednesday as data showed inflation slowed slightly more than expected last month but gave traders little clarity on the U.S. monetary policy outlook. A U.S. Labor Department report on Wednesday showed the annual increase in consumer prices dipped…
By Jack Queen (Reuters) – A jury in Manhattan decided on Tuesday that former U.S. President Donald Trump must pay $5 million in damages for sexually abusing magazine writer E. Jean Carroll in the 1990s and then defaming her by branding her a liar. Here is a rundown of what could come next: WILL TRUMP…
By Lewis Krauskopf NEW YORK (Reuters) – Some investors are growing concerned that the U.S. economy may not be cooling fast enough to justify bets that the Federal Reserve will cut interest rates this year, threatening a view that has helped boost stocks. Expectations of rate cuts in the second half of the year have…
By David Brunnstrom and Michael Martina WASHINGTON (Reuters) – The British son of jailed Hong Kong media tycoon Jimmy Lai and a leading Catholic U.S. congressman criticized Britain and the Vatican on Wednesday for failing to speak out strongly against the crackdown on dissent in the Chinese territory. At a Washington event about the human…
By Nichola Groom (Reuters) -The U.S. Department of Homeland Security this week raided a factory and sales office operated by one of the world’s largest solar panel makers, China’s Jinko Solar Holding Co Ltd, the agency said on Wednesday. A spokesperson for the Homeland Security Investigations arm of DHS, Mike Meares, said search warrants were…
By Chibuike Oguh NEW YORK (Reuters) – A gloomy forecast from vacation rental firm Airbnb weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb, which reported a 20% rise in quarterly revenue on Wednesday,…
