By Nupur Anand, Andrea Shalal and Greg Roumeliotis NEW YORK (Reuters) – U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts led by the bank’s advisers have yet to reach a deal, according to three sources familiar with the situation. The Federal Deposit Insurance Corporation (FDIC), the Treasury Department and…
By Brendan Pierson (Reuters) – The Biden administration has asked a federal appeals court to put on hold a judge’s ruling striking down the Affordable Care Act’s mandate that insurers cover preventive care, including screenings for certain cancers and pre-exposure prophylaxis against HIV (PrEP), at no extra cost to patients. In a filing Thursday evening…
By David Morgan WASHINGTON (Reuters) – A prominent moderate U.S. House of Representatives Democrat said Friday that it is time for President Joe Biden to begin daily talks with Republicans on government spending and debt, to avoid a calamitous default. Representative Josh Gottheimer rejected Republican demands to raise the $31.4 trillion debt ceiling only in…
By Doina Chiacu WASHINGTON (Reuters) – Canadian Prime Minister Justin Trudeau said on Friday he was worried about the future of American democracy, taking a veiled swipe at former U.S. President Donald Trump during a visit to New York. “You guys are the greatest democracy in the world,” Trudeau said at the Council on Foreign…
By Luc Cohen NEW YORK (Reuters) – U.S. charges last week against two people for allegedly running a Chinese “secret police station” in New York marked the latest case in a broad ramp-up in the use of a century-old law meant to curb the activity of foreign agents. The law, Section 951, was passed as…
By Echo Wang and Mica Rosenberg FRONTON, Texas -Lihua Wu’s journey to the United States started when she scrolled past the words “The Route”, one of several common hashtags on Douyin, the Chinese counterpart of TikTok, advising migrants on the irregular overland trek across Latin America to the United States, also known online as “the…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending was unchanged in March as an increase in outlays on services was offset by a decline in goods, but persistent strength in underlying inflation pressures could see the Federal Reserve raising interest rates again next week. Stubbornly high inflation was underscored by other data on Friday…
By Sabrina Valle and Marianna Parraga HOUSTON (Reuters) – U.S. oil producer Chevron Corp could raise its production in Venezuela this year by up to 50%, to 150,000 barrels of oil per day (bpd), without significant new investments, Chief Executive Michael Wirth said on Friday. The second-largest U.S. producer in November became the first U.S….
(Reuters) – Last month’s failure of New York-based Signature Bank was caused by “poor management” and a pursuit of “rapid, unrestrained growth” with little regard for risk management, the Federal Deposit Insurance Corporation said on Friday in a report detailing its supervision and regulation of the regional bank. Bank management and its board chased growth…
By Aditya Soni (Reuters) – Growth in Amazon.com Inc’s lucrative cloud business is slowing and investors are worried. Shares fell nearly 4% on Friday as Amazon’s cloud business slowed in April after posting its weakest quarterly growth since the company began breaking out the unit’s sales in 2015. Amazon, one of the largest companies in…
