By Steve Gorman and Joseph Ax (Reuters) – Canadian safety officials on Friday opened an investigation into the undersea implosion of a tourist submersible that killed all five people aboard while diving to the century-old wreck of the Titanic, raising questions about the unregulated nature of such expeditions. A debris field from the submersible Titan…
By Noah Browning LONDON (Reuters) -Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7%, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday,…
By John McCrank NEW YORK (Reuters) – Warren Buffett on Saturday said Berkshire Hathaway is cautious around the banking sector, largely because of poor messaging by officials around government-insured deposits, as well as distorted incentives he said were brought on by banking regulation. A crisis of confidence in the U.S. banking sector has led to…
By Howard Schneider WASHINGTON (Reuters) – New data from the New York Federal Reserve shows underlying inflation may have slowed faster than the headline measures that have kept U.S. central bank officials poised for further interest rate increases. In a research series that is now due for monthly release, the New York Fed’s so-called “multivariate…
By Shivangi Acharya NEW DELHI (Reuters) -India’s Financial Stability and Development Council (FSDC) considers the country’s banking system to be protected from any spillover from issues in the sector globally, the country’s economic affairs secretary said on Monday. Ajay Seth was speaking with reporters after the meeting of FSDC, which is chaired by the finance…
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Justice Department on Wednesday filed a complaint challenging a new Tennessee law that bans doctors from providing gender-affirming medical treatment such as puberty blockers, hormone therapy and surgery to transgender minors. The Justice Department said the law violated the U.S. Constitution’s Fourteenth Amendment, which promises equal protection….
By Daren Butler and Jonathan Spicer ISTANBUL (Reuters) -President Tayyip Erdogan on Friday appointed Hafize Gaye Erkan, a finance executive in the United States, to head Turkey’s central bank, which is widely expected to reverse course and tighten policy after years of rate cuts and a simmering cost-of-living crisis. Erkan, former co-CEO at First Republic…
By Aatrayee Chatterjee (Reuters) -Costco Wholesale fell short of Wall Street estimates for quarterly sales on Thursday due to tepid demand for higher margin goods, pulling its shares down 5% in extended trading. With elevated day-to-day costs hammering household budgets, customers have kept a tight lid on their spending, particularly for big-ticket non-essential purchases such…
(Reuters) -Wall Street banks including JPMorgan Chase & Co and Goldman Sachs Group Inc are looking to start trading private credit loans, Bloomberg News reported on Wednesday, citing people familiar with the matter. The banks are among the firms talking to private debt funds about facilitating secondary-market transactions, according to the report. JPMorgan and Goldman…
By Sameer Manekar and Melanie Burton (Reuters) -Global miner BHP Group reported a steeper-than-expected 32% fall in first-half profit owing to a drop in iron ore prices, sending its shares down, although it flagged a brightening outlook in China, its biggest customer. China’s strict zero-COVID-19 policy curtailed economic activity and dented demand over the past…
