By Chibuike Oguh NEW YORK (Reuters) -Several large U.S. regional banks reported lower profits on Wednesday, in a further sign that the income boost from interest rate hikes by the Federal Reserve is starting to wane. Charles Schwab, Citizens Financial and US Bancorp said that, along with one-off charges, the rising cost of retaining customer…
By Farah Master HONG KONG (Reuters) -China’s population fell for a second consecutive year in 2023, as a record low birth rate and a wave of COVID-19 deaths when strict lockdowns ended accelerated a downturn that will have profound long-term effects on the economy’s growth potential. The National Bureau of Statistics said the total number…
By Aditya Soni, Akash Sriram and Hyunjoo Jin (Reuters) -Elon Musk’s warning about developing AI and robotics outside Tesla unless he gets more voting control could infringe on his duties as CEO and raise questions about the automaker’s valuation, governance experts and analysts said. The outspoken billionaire said on Monday he would be “uncomfortable” building…
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) – Fresh off a campaign victory in Iowa, Donald Trump sat in a New York courtroom on Tuesday to defend himself for a second time against charges that he defamed writer E. Jean Carroll after she accused him of raping her decades ago. Trump watched from…
By Joanna Plucinska, Valerie Insinna and David Shepardson WASHINGTON/LONDON (Reuters) -Boeing on Tuesday named a retired U.S. Navy admiral to advise the planemaker’s CEO on improving quality control after 737 MAX 9 planes were grounded following the in-flight cabin panel blowout on an Alaska Airlines jet. Kirkland H. Donald will serve as a special adviser…
By Manya Saini and Tatiana Bautzer (Reuters) -Morgan Stanley’s shares slid more than 4% after its fourth-quarter profit took a hit from $535 million in charges, though its revenue beat expectations as investment banking rebounded. Investors were disappointed by the bank’s lower-than-expected guidance for wealth management margins on Tuesday, which weighed on shares, said Barclays…
By Brijesh Patel and Polina Devitt LONDON (Reuters) – The rate at which platinum is displacing palladium in the manufacture of autocatalysts is slowing due to the sister metals approaching price parity, a trend which is likely to persist through this year, analysts said. Growing use of platinum in autocatalysts that reduce harmful emissions from…
By Trevor Hunnicutt and Nandita Bose COLUMBIA, South Carolina (Reuters) -U.S. Vice President Kamala Harris warned Americans that their freedom is under threat as she commemorated Martin Luther King Jr. Day in early-voting South Carolina on Monday, wielding the civil-rights icon’s legacy to urge Black voters to join Democrats to win the 2024 election. Harris…
By Jana Choukeir, Ahmed Elimam and Robert Harvey DUBAI (Reuters) -Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the U.S., Iranian state media reported, a move likely to stoke regional tensions. The seizure of the Marshall…
By Robert Harvey, Natalie Grover and Ahmad Ghaddar LONDON (Reuters) -At least six more oil tankers were steering clear of the southern Red Sea on Monday, as disruptions increase on the vital route for energy shipping in the wake of U.S.-led strikes against Houthi targets in Yemen. Following the U.S. and British strikes, the U.S.-led…
