(Reuters) – U.S. lawmakers met with the Federal Reserve and Federal Deposit Insurance Corporation on Friday to discuss the collapse of SVB Financial Group, Coindesk reported on Saturday citing a source. Democratic U.S. Representative Maxine Waters held briefings with officials from the two regulators and the Treasury Department, hours after the startup-focused SVB’s collapse, the…
(Corrects title in last paragraph) (Reuters) – Stellantis will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact Sports Utility Vehicle (SUV) in 2025, the Franco-Italian-American car manufacturer said on Thursday. Stellantis will use the investment to set up a battery assembly workshop as well as one dedicated…
GENEVA (Reuters) – The World Health Organization warned on Friday that cases of dengue fever could reach close to record highs this year, partly due to global warming benefiting mosquitoes that spread it. Dengue rates are rising globally, with reported cases since 2000 up eight-fold to 4.2 million in 2022, WHO said. The disease was…
LONDON (Reuters) – Cyber insurance rates dropped around 10% in June compared with a year earlier, reversing recent sharp rate rises, as claims proved smaller than expected, broker Howden said in a report on Wednesday. Cyber insurance rates more than doubled in 2021 during the COVID-19 pandemic, driven by a rise in so-called ransomware attacks,…
By Chijioke Ohuocha and Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria could save up to 3.9 trillion naira ($5.10 billion) this year alone after reforms to its foreign exchange market and the removal of a petrol subsidy, the World Bank said on Tuesday, but warned of growing inflationary pressures in the short term. Nigerian President Bola Tinubu…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June, with a…
LONDON (Reuters) -Advertising giant M&C Saatchi has rejected a fresh takeover offer from the acquisition vehicle of its top shareholder Vin Murria. Murria’s AdvancedAdvT said on Monday that it had proposed to offer 2.245 of its shares for each M&C Saatchi share, representing a 20.7% increase on its previous proposal, but that the agency’s independent…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Nvidia’s huge stock rally is still exerting an outsized influence over the S&P 500 index , reinforcing concerns that broader markets could be hurt if the chipmaking giant’s fortunes turn. This year’s 140% surge in shares of Nvidia, whose chips are seen as the gold standard in…
By Tom Polansek and Granth Vanaik (Reuters) -Tyson Foods missed Wall Street expectations for third-quarter revenue and profit on Monday, hurt by falling chicken and pork prices as well as slowing demand for its beef products. Shares closed down about 4% after earlier falling nearly 10% as the company said it is evaluating all operations…
By Joseph Ax (Reuters) – Pat Robertson, the televangelist who helped turn Christian conservatives into a potent force in U.S. politics, died at age 93 at his Virginia home, the Christian Broadcasting Network said in a statement on Thursday. Robertson founded the network in 1960 and hosted the flagship program “The 700 Club” for decades,…
