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03-05-2022 kslmadmin
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed higher on Friday, marking the end of a tumultuous week as U.S. Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector. While all three major U.S. stock indexes started the session sharply lower on the heels of a sell-off among European banks, those losses reversed by closing bell, repeating the intraday roller coaster ride […]
OTTAWA, ONTARIO (AP) — President Joe Biden and Canadian Prime Minister Justin Trudeau are set to announce an agreement aiming to stem the flow of asylum seekers at unofficial border crossings from the U.S. to Canada. The agreement on Friday comes as Biden makes his first visit to Canada as president. Wide-ranging Trudeau-Biden talks also were touching on the 13-month old war in Ukraine, military spending, shared concerns about China’s […]
WASHINGTON (Reuters) – The U.S. Transportation Department on Friday denied an exemption request by JetBlue and Spirit to operate under common ownership, citing the Department of Justice’s (DOJ) antitrust lawsuit filed earlier this month seeking to block the deal. The Transportation Department said a denial was warranted in light of a White House executive order that it “coordinate competition efforts, DOJ’s conclusion that the proposed merger would have anti-competitive effects, […]
By Doina Chiacu and Richard Cowan WASHINGTON (Reuters) -Partisan sniping over raising U.S. borrowing authority ratcheted up on Friday when House of Representatives Speaker Kevin McCarthy accused President Joe Biden of ignoring the issue, even as Republicans have failed to detail budget cuts they want before allowing a debt limit increase. At a news conference in the U.S. Capitol, the Republican speaker attacked the Democratic president for not holding negotiating […]
OTTAWA (Reuters) – The United States and Canada must together build a North American market on everything from semiconductors to solar panel batteries, in the face of growing competition, including from an “increasingly assertive China,” Prime Minister Justin Trudeau said on Friday. Trudeau, speaking in the Canadian parliament ahead of a speech by U.S. President Joe Biden, also expressed unity in supporting Ukraine and said the two allies must continue […]
By Michael S. Derby NEW YORK (Reuters) – An executive who also serves on the board overseeing the New York Federal Reserve warned on Twitter Friday of potentially systemic problems in the real estate finance market and called on the industry to work with authorities to avoid things getting out of hand. Noting there is $1.5 trillion in commercial real estate debt set to mature in the next three years, […]
By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Friday dismissed a former Barclays Plc trader’s whistleblower lawsuit accusing the British bank of firing him after he complained it ignored basic risk management and violated its own policies for detecting rogue trading. U.S. District Judge Paul Oetken in Manhattan said Brian La Belle, who had been Barclays’ head of commercial real estate trading, could not sue under the federal […]
By Valentina Za and Francesco Canepa MILAN (Reuters) -UniCredit is leaning towards repaying a perpetual bond at the earliest opportunity in June, a source close to the matter told Reuters, a move that would show it has ample capital and help keep funding costs in check as markets reel from a crisis of confidence. UniCredit put in a request in recent weeks with European Central Bank supervisors to repay a […]
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations organization, the source told Reuters. “As our business and client needs grow and evolve, our […]
