By Andrea Shalal WASHINGTON (Reuters) -The World Bank on Monday unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel its flagship rankings two years ago. The bank scrapped its “Doing Business” rankings in September…
By Chibuike Oguh NEW YORK (Reuters) – Blackstone Inc on Monday said it had again limited withdrawals from its $70 billion real estate income trust in April as investor redemption requests continued to pile up. Blackstone said BREIT had received $4.5 billion worth of withdrawal requests in April, but the fund fulfilled only $1.3 billion…
By Hannah Lang (Reuters) – A key U.S. banking regulator is set to publish a comprehensive overview of the federal deposit insurance system on Monday, teeing up fresh debate about whether the government should expand protections on bank deposits – and if so, by how much. The review will be the third report issued in…
(Reuters) – JPMorgan Chase & Co will buy most of First Republic Bank’s assets in a last-ditch rescue led by U.S. regulators, marking the third major U.S. institution to fail in two months. The deal, announced early on Monday as regulators seized First Republic, will see the largest U.S. bank acquire $173 billion of loans,…
MANILA (Reuters) -Philippines President Ferdinand Marcos Jr said China has agreed to discuss fishing rights in the South China Sea, as he pushed for a “direct communication line” with Beijing on maritime differences. China has agreed to “sit down” and talk about Filipinos’ fishing rights in the South China Sea, Marcos said, adding he has…
(Reuters) – JPMorgan Chase & Co is buying most of First Republic Bank’s assets, which had been seized by United States regulators, in a last-ditch rescue for the strained lender, marking the third major U.S. bank to fail in two months. Last week, First Republic reported a more than $100 billion plunge in deposits in…
ABERDEEN, Scotland (Reuters) -Former U.S. President Donald Trump arrived in Scotland on Monday for a short trip to visit his golf courses in the country and in Ireland. Trump, who has family roots in Lewis, an island off the northwestern tip of Scotland, owns two golf courses in Scotland – one north of Aberdeen and…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bond investors, fearing a recession is around the corner and preparing for an end of the Federal Reserve’s tightening cycle, have embraced the safety of U.S. Treasuries and shed risky exposures in investment grade and high yield credit. The collapse in March of Silicon Valley Bank and Signature…
By Hilary Russ NEW YORK (Reuters) – Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand’s sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in…
(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers…
