By Sabrina Valle and Arunima Kumar HOUSTON (Reuters) – The two largest U.S. oil companies – Exxon Mobil Corp and Chevron Corp – are minting cash from booming oil and gas operations, but are splitting over what to do next. The pair on Friday posted first-quarter results that topped Wall Street forecasts as earnings soared….
(Reuters) – The Federal Reserve issued a detailed and scathing assessment on Friday of its failure to identify problems and push for fixes at Silicon Valley Bank before the lender’s collapse, and promised tougher supervision and stricter rules for banks. Meanwhile, U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts…
By Joseph Ax (Reuters) -North Carolina’s highest court on Friday ruled that state law does not bar lawmakers from drawing congressional and state legislative maps for partisan benefit, boosting Republicans’ odds next year of maintaining their narrow majority in the U.S. House of Representatives. The decision – divided along party lines – appears to clear…
WASHINGTON (Reuters) – Senator Michael Bennet introduced a bill on Thursday that would create a task force to look at U.S. policies on artificial intelligence, and identify how best to reduce threats to privacy, civil liberties and due process. The popular use of ChatGPT and other AI, which have been used for years to create…
By Siddarth S and Lananh Nguyen NEW YORK (Reuters) – Investment bank Lazard Ltd on Friday reported a surprise loss in the first quarter as dealmaking slumped, a trend the company’s CEO said would likely persist. The company also warned of an uncertain outlook for the year and said it would eliminate around 10% of…
By Steve Scherer OTTAWA (Reuters) -Canada and the United States have agreed to trace guns that are intercepted at the border, a move meant to enhance efforts to stop the smuggling of handguns to the north from the world’s biggest private firearm market, officials from both countries said on Friday. Canada’s Public Safety Minister Marco…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied to a higher close on Friday and benchmark Treasury yields dipped at the end of a week marked by strong earnings, wrapping up a solid month with data confirming inflation is cooling, which could allow the Federal Reserve to pause after next week’s expected rate…
By Nichola Groom and Katharine Jackson (Reuters) -The U.S. House of Representatives on Friday voted to repeal President Joe Biden’s suspension of tariffs on solar panels from four Southeast Asian nations, a move aimed at supporting a domestic supply chain but that solar project builders say would stall clean energy development. The resolution passed in…
By David Shepardson WASHINGTON (Reuters) -Some Federal Aviation Administration (FAA) engineers recommended grounding the Boeing 737 MAX in March 2019 after a second fatal crash and before the agency took action, a report released Friday said. The Transportation Department’s Office of Inspector General said in a report that its review of emails and interviews of…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar rose on Friday after data showed inflation grew in March, though at a slower pace, keeping the Federal Reserve still firmly on track to raise interest rates at next week’s monetary policy meeting. The yen, meanwhile, fell across the board, after the Bank of Japan…
