HOUSTON (Reuters) -The U.S. will not block a court auction of shares in oil refiner Citgo Petroleum Corp’s parent, Justice Department officials told a federal court, paving the way for a potential seizure by creditors of Venezuela’s most-prized foreign asset. The U.S. Treasury Department since 2020 has protected Citgo from creditors with claims against Venezuela,…
By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) -The U.S. government could delay a decision on giving electric vehicle (EV) manufacturers tradable credits under a renewable fuel scheme, due to concern about legal challenges to the plan, two sources familiar with the matter said. The plan would have given EV automakers such as Tesla…
WASHINGTON (Reuters) – No. 2 U.S. Senate Republican John Thune on Monday said the news that the federal government could no longer be able to pay its bills as soon as June 1 was an urgent signal that Democratic President Joe Biden and Republican House Speaker Kevin McCarthy need to begin talks on raising the…
(Reuters) – The U.S. federal government is ticking closer to its “x-date,” when it will no longer be able to pay its bills and risk a default that would shake the world economy. Republicans in the House of Representatives have passed legislation that would pair a $1.5 trillion increase in the debt ceiling with $4.8…
(This April 28 story has been refiled to remove repeated word in paragraph 1) By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) – As recently as February, generative AI did not feature prominently in EU lawmakers’ plans for regulating artificial intelligence technologies such as ChatGPT. The bloc’s 108-page proposal for the AI Act, published two…
By David Shepardson and Alexandra Alper WASHINGTON (Reuters) – The Biden administration outlined efforts this week to address growing U.S. national security concerns on foreign companies’ handling of Americans’ data. Commerce Secretary Gina Raimondo said at a U.S. Senate hearing the department is working “to secure our communications and technology networks and we are right…
By Sinéad Carew (Reuters) – Wall Street indexes closed slightly lower and the dollar gained with Treasury yields as investors digested Monday’s data and waited for the U.S. Federal Reserve’s interest rate decision due on Wednesday as well as key upcoming economic data and quarterly earnings reports. Crude oil prices were lower as weak economic…
By Michael S. Derby (Reuters) -The Federal Reserve is planning new steps to ensure officials and top staff are complying with financial trading and ethics rules put in place last year, it said in a report on Monday. The report, released Monday by the central bank’s in-house watchdog, the Office of the Inspector General, or…
By Allison Lampert (Reuters) -North American pilots took fresh steps on Monday to press for workforce gains, with American Airlines Group Inc pilots backing a strike mandate and Air Canada pilots supporting a merger with a larger union. American Airlines pilots approved the mandate ahead of the busy summer travel season to further pressure the…
By Manya Saini (Reuters) – Shares of several regional lenders fell on Monday after the collapse of First Republic Bank, the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008. The banking turmoil erupted from the closure of Silicon Valley Bank and Signature Bank in March, causing depositors to…
