By Karen Lema and David Brunnstrom MANILA/WASHINGTON (Reuters) -Philippine President Ferdinand Marcos Jr said his meeting with U.S. President Joe Biden on Monday was essential in advancing his country’s national interest and strengthening the “very important alliance” between Manila and Washington. Before leaving for his four-day official visit to Washington, Marcos said on Sunday he…
By John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to decide whether the government can require commercial fishermen to help fund a program monitoring herring catches off New England’s coast in a case that could undercut the regulatory power of federal agencies. The justices took up an appeal by New Jersey-based…
By Hannah Lang and Ann Saphir WASHINGTON (Reuters) – A key U.S. banking regulator on Monday laid out a range of options for reforming the federal deposit insurance system and concluded that significantly increasing the backstop for bank accounts used for business purposes was the “most promising.” In the wake of March’s lightning-fast bank…
By Andrew Chung (Reuters) – The U.S. Supreme Court on Monday declined to hear a challenge to the legality of an Indiana requirement that abortion providers bury or cremate embryonic or fetal remains following the procedure, sidestepping another dispute involving a contentious Republican-backed state policy concerning abortion. The justices turned away an appeal by an…
By Karen Brettell NEW YORK (Reuters) – The dollar rose to an almost two-week high against a basket of currencies on Monday before the Federal Reserve is expected to hike interest rates by an additional 25 basis points and after data showed that U.S. manufacturing pulled off a three-year low in April. Investors will focus…
LOS ANGELES (Reuters) – Hollywood writers and the film and television studios are racing to agree to a new contract to replace the one that expires at 11:59 p.m. Pacific time Monday. If they fail to reach a deal, a strike could begin as soon as Tuesday. Why is the Writers Guild of America threatening…
By Shariq Khan BENGALURU (Reuters) – Oil prices dropped by a dollar a barrel on Monday after weak economic data from China and expectations of another U.S. interest rate hike outweighed support from OPEC+ supply cuts that take effect this month. Brent crude fell $1.02, or 1.3%, to settle at $78.45 a barrel, while U.S….
By Lawrence Delevingne (Reuters) – The focus of the U.S. regional banking crisis turned on First Republic Bank in late March after the wealthy clients it courted to fuel its breakneck growth began pulling their deposits. With no let-up in pressure on First Republic, the biggest U.S. bank JPMorgan Chase & Co, said on Monday…
By Jeff Mason and Andrea Shalal WASHINGTON (Reuters) -U.S. President Joe Biden on Monday urged House of Representatives Speaker Kevin McCarthy to take the potential for an unprecedented U.S. debt default off the table, warning that it would result in skyrocketing credit card and mortgage rates. “America is not a deadbeat nation. We have never,…
By Emily Rose JERUSALEM (Reuters) -The U.S. should invite Israeli Prime Minister Benjamin Netanyahu to the White House for an official visit, U.S. House of Representatives Speaker Kevin McCarthy said on Monday, as a customary invitation has not been extended in the five months since Netanyahu’s election. “I expect the White House to invite the…
