(Reuters) -Deposits at U.S. commercial banks fell toward the end of April to the lowest in nearly two years, data released on Friday by the Federal Reserve showed, while overall credit provided by banks moved up, led by a record level of outstanding loans and leases. Deposits on a nonseasonally adjusted basis fell in the…
By Sinéad Carew and Naomi Rovnick NEW YORK/LONDON (Reuters) – A global gauge of stocks rallied and U.S. Treasuries and gold sold off on Friday as strong U.S. jobs data brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. The non-farms payroll report showed U.S….
(Reuters) – Walmart Inc appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam’s Club. She was most recently the…
By Joseph Ax and Dawn Chmielewski (Reuters) -Florida Governor Ron DeSantis on Friday signed a bill into law that gives a new board he controls the power to void development agreements its predecessor body signed with Disney – the latest episode in a feud between the conservative governor and the entertainment giant. Under the bill,…
By Manya Saini and Chibuike Oguh (Reuters) – Shares in PacWest Bancorp jumped nearly 82% amid a broader rebound in U.S. regional banks on Friday after analysts upgraded a number of lenders they said were oversold, though some investors fretted the surge may be short-lived. Investor worries about the health of mid-sized lenders deepened in…
(Reuters) – Christmas Tree Shops, a home-decor retailer that was spun off from Bed Bath & Beyond in 2020, filed for bankruptcy protection on Friday. Christmas Tree Shops (CTS) said in a statement that its bankruptcy was a “strictly financial restructuring,” and that most of its stores would remain open without disruption. The Middleborough, Massachusetts-based…
(Reuters) -The U.S. Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale to JPMorgan Chase & Co, Bloomberg News reported on Friday, citing people familiar with the matter. The SEC is looking into whether any members of the then-executive team of First Republic improperly traded…
By Siddharth Cavale NEW YORK (Reuters) – A new analysis of Walmart’s pricing strategy reveals it has consistently kept grocery prices lower than competitors while generally hiking prices at rates far below U.S. inflation, even while the firm now faces allegations of using its clout to gain unfair advantages over rivals. Data analytics firm Dataweave…
By Mike Stone WASHINGTON (Reuters) – U.S. President Joe Biden’s administration plans to send $500 million worth of weapons aid to Taiwan using the same emergency authority that has been used more than 35 times for Ukraine, a source familiar with the plan said on Friday. As a part of the 2023 budget, Congress authorized…
By Michael Holden LONDON (Reuters) -King Charles greeted excited crowds gathering for his coronation before hosting a reception for world leaders at Buckingham Palace on Friday ahead of what will be the biggest ceremonial event in Britain for 70 years. Charles, 74, and his wife Camilla will be crowned at London’s Westminster Abbey in a…
