By Sheila Dang (Reuters) -Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc. Following a pandemic-led spending bonanza by advertisers who wanted to reach customers online, ad sales-reliant…
By Stephanie Kelly NEW YORK (Reuters) – The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the Inflation Reduction Act, arguing such provisions are crucial to meeting U.S. climate goals. The campaign reflects the ethanol industry’s desire to expand into aviation following…
(Reuters) – Consumer lender Capital One Financial Corp’s first-quarter profit missed estimates on Thursday due to an increase in provisions that reduced gains from interest rate hikes. The Federal Reserve’s rate hikes to tame soaring inflation since the past year benefited lenders as they charged higher interest from borrowers. Capital One’s net interest income rose…
By Andrea Shalal WASHINGTON (Reuters) – The White House is continuing to monitor the situation at First Republic Bank, which has continued to lose deposits this week, spokesperson Karine Jean-Pierre said on Thursday, vowing that the Biden administration stood ready to take action if needed. Deposits at regional banks have stabilized and the Biden administration…
By Tim McLaughlin and Sarah N. Lynch WORCESTER, Massachusetts (Reuters) – A U.S. Air National Guardsman accused of leaking military secrets appeared in federal court on Thursday, where a judge expressed concern the 21-year-old’s knowledge of classified material might be valuable to a foreign government. “Some of the information he” is accused of taking “he…
By David Lawder WASHINGTON (Reuters) – Internal Revenue Service Commissioner Danny Werfel on Thursday said the agency will not hire any armed auditors with $80 billion in new funding, an attempt to dispel Republican assertions the IRS plans to build an “army” of 87,000 armed agents. Werfel, sworn in as the tax agency’s chief on…
By Ted Hesson and Matt Spetalnick WASHINGTON (Reuters) -The United States will ramp up deportations while also expanding legal pathways for would-be migrants as it braces for a possible spike in illegal border crossings when COVID-19 restrictions are set to end next month, U.S. officials said on Thursday. The U.S. will double or triple the…
By Niket Nishant and Chibuike Oguh (Reuters) – First Republic Bank’s shares rebounded on Thursday from a steep sell-off that wiped out nearly 60% of the regional bank’s market value this week. San Francisco-based First Republic disclosed on Monday it had lost more than $100 billion of deposits in the first quarter, triggering a sharp…
By David Morgan and Richard Cowan WASHINGTON (Reuters) – The U.S. Senate showed no sign of moving to avoid a looming debt-ceiling crisis on Thursday, as Republicans rejected calls to raise the $31.4 trillion limit without conditions and Democrats dismissed the idea of talks. A day after the House of Representatives approved a Republican package…
By Joseph Ax (Reuters) – A federal appeals court on Thursday upheld several Republican-backed voting restrictions in Florida, overruling a lower court judge who had found the laws intentionally discriminated against minority voters. In a split 2-1 decision, a panel of judges at the 11th U.S. Circuit Court of Appeals said the evidence did not…
