By David Shepardson WASHINGTON (Reuters) – The Biden administration on Tuesday said it was ramping up a program to address supply chain issues by getting truckers, shippers, wholesalers, retailers and other businesses to share information. The Freight Logistics Optimization Works (FLOW) program, which was launched in March 2022 with 18 companies, now has 53 firms….
By Andrew Chung and John Kruzel WASHINGTON (Reuters) -A Democratic-led Senate panel on Tuesday explored the possibility of pursuing legislation to impose ethics standards on the U.S. Supreme Court amid revelations about luxury trips and real estate transactions by conservative justices, but the panel’s Republican members voiced stern opposition. “The highest court in the land…
(Reuters) – Federal Reserve Chair Jerome Powell at his press conference on Wednesday is likely to get asked – again – what contingencies he plans for in the event of a U.S. debt default, and he is likely to say – again – that there is no central bank silver bullet to shield the economy…
By Hardik Vyas and Sheila Dang (Reuters) – Twitter’s attempt to implement a paid account verification service has attracted imposters spreading misinformation, which experts said could lead major brands to further pull back from the social media platform owned by billionaire Elon Musk. On April 20, Twitter moved to boost profits by removing the once-coveted…
By Andy Sullivan WASHINGTON (Reuters) – A top White House official said on Tuesday that he was not concerned that President Joe Biden’s signature clean-energy law could cost more than originally anticipated as businesses take advantage of tax breaks that aim to spur green development. “I think this is evidence that the bill was actually…
By Tyler Clifford (Reuters) -One of the former Memphis police officers involved in the attempted arrest of Tyre Nichols will not face criminal charges and is expected to testify against five others accused of brutalizing the Black motorist to death, a prosecutor said on Tuesday. Shelby County District Attorney Steve Mulroy said his office declined…
By Gertrude Chavez-Dreyfuss and John McCrank NEW YORK (Reuters) – A decade after a manipulation scandal turned global regulators and investors against the London Interbank Offered Rate (LIBOR) as the global interest rate benchmark, major clearing houses are in the final weeks of the nearly $50 trillion transition of the U.S. rate swaps market to…
By Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden and Vice President Kamala Harris are gearing up for their first fundraising events as soon as next week to help kick off their 2024 reelection campaign, according to people briefed on the plans. Some of the events being planned for Biden include a reception and dinner…
By Niket Nishant and Chibuike Oguh (Reuters) – Shares of regional banks PacWest Bancorp and Western Alliance Bank plunged on Tuesday as the demise of First Republic Bank triggered investor concern about the financial health of other mid-sized lenders. JPMorgan Chase agreed on Monday to acquire a majority of First Republic’s assets in a $10.6…
By David Morgan, Richard Cowan and Katharine Jackson WASHINGTON (Reuters) – Top U.S. Senate Republicans on Tuesday called on President Joe Biden to accept their party’s debt-ceiling package or make a counter-offer, while a top Democrat said the Senate might try to advance a “clean” debt-ceiling hike next week. With barely a month to go…
