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NEW YORK (Reuters) -Wells Fargo said on Tuesday it expects to pay $1.8 billion to help replenish a government deposit insurance fund that was drained of $16 billion this year after three banks collapsed. Under a Federal Deposit Insurance Corporation (FDIC) proposal, Wells Fargo estimates it will face a pretax “special assessment” of $1.8 billion, which it will set aside to pay when the FDIC finalizes the rule, the bank […]

By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) – Bahta Mekonnen, a 28-year-old U.S. Army captain from the key voting state of Georgia, is among the millions of Black voters who helped deliver President Joe Biden the White House in 2020. Three years later, he is one of the voters who Democrats fear could cost Biden a second term in 2024. Disappointed by what he sees as Democrats’ lurch to […]

By Xie Yu HONG KONG (Reuters) – Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States’ top-tier sovereign credit rating. MSCI’s broadest index of Asia-Pacific shares fell 0.5%. Japan’s Nikkei slid by 1.2%, while Australian shares edged down 0.5%. China’s mainland benchmark and Hong Kong’s fell by 0.3% and 0.5%, respectively. Asian stocks were also weighed by declines on […]

TAIPEI (Reuters) – Taiwan Vice President William Lai will stop in New York and San Francisco in the United States on his way to and from Paraguay for the inauguration of its new president, the presidential office said on Wednesday. The arrangement for the U.S. transit was based on the principle of comfort, safety and dignity and should not be an excuse for conflict, the office added. (Reporting By Sarah […]

By Leika Kihara TOKYO (Reuters) -Some Bank of Japan (BOJ) board members said domestic inflation might hold above the central bank’s 2% target, minutes of their June policy meeting showed, providing insight into BOJ’s move last week to let some rates rise along with increasing prices. While one member called for a review of the bank’s bond yield control policy “at an early stage,” members agreed they did not need […]

By Byron Kaye SYDNEY (Reuters) – Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments. Now that they work from home, the surveyors travel straight to the field as early as 7.30 a.m., enabling Coomber to pick up his children from daycare earlier than […]

By Byron Kaye SYDNEY (Reuters) – Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments. Now that they work from home, the surveyors travel straight to the field as early as 7.30 a.m., enabling Coomber to pick up his children from daycare earlier than […]

By Jack Queen (Reuters) – Donald Trump was charged on Tuesday with four felonies over his efforts to undo his 2020 election loss to U.S. President Joe Biden. Here is a look at the federal charges and how Trump might defend himself. CONSPIRACY TO DEFRAUD THE U.S. This is a very broad law that covers attempts by one or more people to defraud the federal government by “any manner or […]

By Sarah N. Lynch, Jacqueline Thomsen and Andrew Goudsward WASHINGTON (Reuters) – Donald Trump was indicted on Tuesday for his wide-ranging attempts to overturn the 2020 election, the third time in four months that the former U.S. president has been criminally charged even as he campaigns to regain the presidency next year. The four-count, 45-page indictment charges Republican Trump with conspiring to defraud the U.S. by preventing Congress from certifying […]