By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer sentiment slumped to a six-month low in May on worries that political haggling over raising the federal government’s borrowing cap could trigger a recession. The University of Michigan’s survey on Friday also showed consumers’ long-term inflation expectations jumping this month to their highest reading since 2011, bad…
By Liliana Salgado and Ted Hesson YUMA, Arizona (Reuters) – Migrants gathered on both sides of the U.S.-Mexico border on Thursday hours before immigration restrictions known as Title 42 expire, with some rushing to cross ahead of tough new asylum rules that will replace a COVID-era order. U.S. Customs and Border Protection (CBP) has in…
SHANGHAI/BEIJING (Reuters) -China’s market regulator said Tesla Inc will fix software in more than 1 million vehicles to reduce the chance of accidents, the regulator said on Friday. The action is described as a product recall under Chinese regulations, the regulator said, but it was not immediately clear if drivers might need, or would be…
By Chris Prentice NEW YORK (Reuters) -Units of HSBC Holdings Plc have agreed to pay $75 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges related to manipulative and deceptive trading and record-keeping failures, the regulator said on Friday. HSBC Bank USA agreed to pay a $45 million civil penalty for manipulative and deceptive…
By David Lawder WASHINGTON (Reuters) -The United States faces a “significant risk” of defaulting on payment obligations within the first two weeks of June without a debt ceiling increase, the Congressional Budget Office said on Friday, adding that payment operations will remain uncertain throughout May. The non-partisan budget referee agency’s new estimate largely tracks Treasury…
By Valerie Volcovici and Timothy Gardner (Reuters) – The Biden administration’s plan to decarbonize the U.S. power sector envisions the first-ever large-scale use of carbon capture and green hydrogen over the next decade – raising questions about whether the climate-fighting technologies can rise to the challenge. The issue could emerge as a legal vulnerability for…
RIO DE JANEIRO (Reuters) -Republican U.S. congressman George Santos, who has Brazilian heritage, agreed to settle a lawsuit in which he was accused of bouncing checks to buy clothes in a Rio de Janeiro clothing store over a decade ago, a court in Rio said. Santos was indicted this week for fraud and money laundering…
SHAKAHOLA FOREST, Kenya (Reuters) -Kenyan investigators unearthed 29 more bodies on Friday in a continuing search for victims of a doomsday cult in the country’s southeast. The death toll now stands at 179. Authorities this week have searched for remains in shallow graves scattered throughout the Shakahola forest and for any survivors as hundreds of…
By Nichola Groom and David Lawder (Reuters) -The U.S. Treasury Department on Friday clarified that developers of solar energy projects can claim a new subsidy for facilities built with American-made products even if the system’s panels contain cells made entirely with Chinese materials. The long-awaited rules around how companies can claim a new tax credit…
By Phuong Nguyen HANOI (Reuters) – Vietnamese electric automaker VinFast said on Friday it will list in the United States via a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co. The move comes after the startup last month said it had received a fresh round of funding pledges worth $2.5 billion from…
