By David Shepardson WASHINGTON (Reuters) -General Motors said on Monday it will recall 42,000 sport utility vehicles in Canada from the 2014 through 2017 model years because the driver’s air-bag inflator may explode during deployment. On Friday, GM recalled 994,763 Buick Enclave, Chevrolet Traverse, and GMC Acadia vehicles in the United States from the 2014-2017…
By Michael S. Derby NEW YORK (Reuters) -Americans’ appetite for taking on new mortgages slowed substantially during the first quarter, data released by the New York Fed on Monday showed, amid a modest gain in overall household borrowing levels at the start of the year. Overall household debt levels rose by 0.9% to $17.05 trillion…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Greg Becker, former CEO of failed lender Silicon Valley Bank, apologized in congressional testimony for its “devastating” collapse while citing rising interest rates and mounting withdrawal requests as key causes of its demise. The bank was responsive to regulator concerns about its risk management and working to…
By Shariq Khan BENGALURU (Reuters) -Oil prices rose a dollar a barrel on Monday after three straight sessions of declines, boosted by the prospect of tightening supplies in Canada and elsewhere, although recession fears kept pressuring the market. Brent crude futures rose $1.06, or 1.4% to settle at $75.23 a barrel. U.S. West Texas Intermediate…
By David Lawder WASHINGTON (Reuters) -President Joe Biden’s administration and Republicans in the U.S. Congress are in talks to end their standoff over raising the $31.4 trillion debt ceiling, haggling over vastly different proposals that both claim to cut deficits by trillions of dollars. Democrat Biden’s full $6.8 trillion fiscal 2024 budget request doubles down…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell from a five-week high on Monday, as investors consolidated gains made last week on the greenback and awaited news from Washington on how to address the debt ceiling issue, which could force the U.S. government to default on its debt if not resolved. In emerging…
By David Shepardson WASHINGTON (Reuters) – The personal information of 237,000 current and former federal government employees has been exposed in a data breach at the U.S. Transportation Department (USDOT), sources briefed on the matter said on Friday. The breach hit systems for processing TRANServe transit benefits that reimburse government employees for some commuting costs….
By Julie Steenhuysen (Reuters) – The Biden administration on Monday said it intends to nominate cancer surgeon Dr. Monica Bertagnolli to lead the National Institutes of Health (NIH) following a 16-month search for a permanent successor to the agency’s long-serving director Dr. Francis Collins, who stepped down in December 2021. If confirmed by the U.S….
By Abhijith Ganapavaram and Allison Lampert (Reuters) -Aerospace supplier HEICO Corp said on Monday it will buy Wencor Group in a deal valued at $2.05 billion to boost its portfolio of generic parts. The deal comes at a time when airlines and aircraft repair shops in North America are increasingly relying on used and generic…
By Huseyin Hayatsever, Orhan Coskun and Birsen Altayli ANKARA (Reuters) -President Tayyip Erdogan led comfortably on Monday after the first round of Turkey’s presidential election, with his rival facing an uphill struggle to prevent the president extending his rule into a third decade in a runoff vote on May 28. Turkish assets weakened on the…
