(Reuters) – ON Semiconductor’s shares jumped 7% on Monday after the chipmaker’s quarterly guidance beat Wall Street’s expectations, spurring other chip stocks with heavyweight Nvidia hitting its highest level in over a year. With investors looking for signs of when a downturn in global chip revenue may bottom out, ON Semiconductor’s quarterly results and guidance…
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) on Monday said it had activated 169 more direct routes along the U.S. East Coast ahead of the busy summer travel season. The direct routes will shave off 40,000 miles and 6,000 minutes of travel time annually, the FAA said. The new routes operate largely…
WASHINGTON (Reuters) – With Democratic President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy locked in a standoff over raising the United States’ $31.4 trillion debt ceiling, some observers have suggested possible workarounds to avoid disaster if the two sides do not reach a deal. Here are some of their proposals: TRILLION-DOLLAR COIN…
WASHINGTON (Reuters) – U.S. President Joe Biden on Monday hailed moves by U.S. regulators to facilitate the sale of First Republic Bank, protect all its depositors and ensure that U.S. taxpayers are not affected. “These actions are going to make sure that the banking system is safe and sound,” Biden told an event at the…
BEVERLY HILLS (Reuters) – Citigroup chief executive officer Jane Fraser said on Monday that debate about the debt ceiling in the United States had serious consequences even as the investing world breathes a sigh of relief that an ailing bank was rescued by a bigger competitor the same day. The debt ceiling turmoil is “more…
By Abigail Summerville and Anirban Sen NEW YORK (Reuters) -The bankers running the sale process for Subway have given the private equity firms vying for the sandwich chain a $5 billion acquisition financing plan, hoping to overcome a challenging environment for leveraged buyouts and fetch the company’s asking price of more than $10 billion, people…
By Khushi Mandowara and Leroy Leo (Reuters) – Almost a third of the nurses in the United States are considering leaving their profession after the COVID-19 pandemic left them overwhelmed and fatigued, according to a survey. The survey of over 18,000 nurses, conducted by AMN Healthcare Services Inc in January, showed on Monday that 30%…
WASHINGTON (Reuters) -U.S. Secretary of State Antony Blinken met the foreign ministers of Armenia and Azerbaijan in Washington on Monday as part of efforts to ease friction between the South Caucasus rivals. Tensions have flared anew after Azerbaijan installed a road checkpoint at the start of the Lachin Corridor, the only route linking Armenia to…
(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank’s assets after U.S. regulators seized the troubled bank. The collapse marks the third major U.S. lender to fail in less than two months, after a week of panic which saw First Republic…
WASHINGTON (Reuters) – U.S. construction spending increased more than expected in March, boosted by investment in nonresidential structures, but single-family homebuilding remained depressed amid higher mortgage rates. The Commerce Department said on Monday that construction spending rose 0.3% in March after declining 0.3% in February. Economists polled by Reuters had forecast construction spending gaining 0.1%….
