By Richard Cowan WASHINGTON (Reuters) – A fresh push for a bipartisan immigration overhaul, coupled with enhanced border security, is emerging in the U.S. Congress, as thousands of migrants amass across the border in Mexico ahead of the end of COVID-era border restrictions next week. The latest among those efforts is a last-minute legislative push…
By Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday against the euro after the European Central Bank eased its pace of rate hikes, a day after the Federal Reserve hiked rates by 25 basis points and indicated that it may pause further increases. The ECB’s 25-basis-point increase was the smallest since it…
By Lisa Barrington DUBAI (Reuters) – The United Nations on Thursday fell far short of raising the money it needs for an operation to salvage 1.1 million barrels of oil from a decaying vessel moored off Yemen’s coast and avert an environmental disaster. U.N. officials have been warning for years that the Red Sea and…
By Medha Singh and Chibuike Oguh (Reuters) -Shares of PacWest Bancorp plunged on Thursday, dragging other regional lenders down after the Los Angeles-based bank’s plan to explore strategic options sparked investor worries of a widening financial crisis. PacWest’s stock slumped more than 40% in afternoon trading, dropping to a record low. The bank had confirmed…
By Laura Sanicola (Reuters) – Oil prices settled nearly unchanged on Thursday after the European Central Bank (ECB) decided to slow the pace of interest rate hikes, with prices still down more than 9% for the week on demand concerns in major consuming countries. Brent futures settled up 17 cents, or 0.24%, to $72.50 a…
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is focused on identifying and prosecuting any form of misconduct that might threaten investors, capital formation or markets more broadly, SEC Chair Gary Gensler told Reuters on Thursday. Gensler made the comment in a written response when asked about a Reuters report that federal and…
By Rich McKay ATLANTA (Reuters) -A former U.S. Coast Guardsman accused of killing a woman and wounding four others in a shooting in an Atlanta medical building was denied bail on Thursday. The suspected gunman, identified as 24-year-old Deion Patterson, had waived his right to appear at the court hearing during which Fulton County Magistrate…
By Andy Sullivan and Moira Warburton WASHINGTON (Reuters) – A Republican plan to cut federal spending in exchange for lifting the U.S. government’s debt ceiling would lower employment, slow economic growth and “meaningfully increase” the likelihood of a recession, Moody’s Analytics’ chief economist told a Senate committee on Thursday. Mark Zandi told the Senate Budget…
By Tiyashi Datta and Helen Coster (Reuters) – Paramount Global Inc missed first-quarter revenue estimates on Thursday amid a weak advertising market in its TV business and cut its dividend. The company incurred a $1.7 billion charge in connection with its plan to integrate Showtime into its Paramount+ streaming service and remove certain programming. Shares…
MADRID (Reuters) – International Airlines Group’s Spanish airline Iberia named Fernando Candela as its new acting president and chief executive officer, replacing Javier Sanchez-Prieto. Candela will take over from Sanchez-Prieto in July and lead the company until the end of the year, IAG said in a statement on Thursday. Candela, who has been CEO since…
