President Joe Biden’s top economic adviser Lael Brainard met with JPMorgan Chase & Co. Chief Executive Jamie Dimon on Wednesday, as financial services executives and government officials seek to shore up troubled regional banks.
The Federal Reserve’s latest rate increase drew rebukes from Senator Elizabeth Warren, Senate Majority Leader Chuck Schumer and a senior House Democrat on Wednesday, showing the party’s anxiety about a potential recession before the 2024 presidential election.
Wall Street traders bracing for the usually unnerving Federal Reserve decision got a double dose of stress on Wednesday, with Treasury Secretary Janet Yellen’s remarks rattling bank shares and Jerome Powell dashing hopes on rates this year.
Former President Donald Trump lost a critical court battle to keep legal details secret from the Justice Department about his alleged mishandling of classified information and obstruction of justice after he left the White House.
The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.
Spotify Technology SA’s $100 million Creator Equity Fund, designed to promote diversity in music and podcasts following controversial comments by the company’s star podcaster Joe Rogan, spent less than 10% of the money on that work as it rounded out its first year.
Bitcoin pulled back from its highest price level since June and smaller cryptocurrencies slumped after the Federal Reserve’s interest-rate increase eased speculation that looser monetary policy would fuel demand for digital assets.
Scynexis Inc., a pharmaceutical company that develops antifungal medicines, notched its largest two-day surge ever on Wednesday following a report of the increasing threat of a drug-resistant fungus spreading in the US.
A power struggle and a trail of unpaid oil sales led Venezuela’s ruling elite to purge one of their own inner circle this week as the government tries to recover billions in missing energy revenues.
PacWest Bancorp is moving to shore up liquidity to protect itself after customers pulled 20% of their deposits since the start of the year.
