Reuters US Business

By Pete Schroeder WASHINGTON (Reuters) – The Federal Reserve’s top regulatory official laid out a sweeping plan to increase capital requirements for the nation’s largest banks in the wake of recent bank failures, a move that was immediately met with criticism from the industry. In a widely-anticipated speech, Fed Vice Chair for Supervision Michael Barr …

Fed plans to boost US banks’ reserve requirements; industry gripes Read More »

By Ann Saphir and Michael S. Derby (Reuters) -The Federal Reserve will likely need to raise interest rates further to bring down inflation that is still too high, but the end to its current monetary policy tightening cycle is getting close, several U.S. central bank officials said on Monday. The Fed has raised interest rates …

Fed closing in on end of rate hiking cycle, central bank officials say Read More »

(Reuters) -Carl Icahn and banks have finalized amended loan agreements that untie Icahn’s personal loans from the trading price of Icahn Enterprises, months after short-seller Hindenburg flagged margin call risks, the Wall Street Journal reported on Monday. Among other concerns, Hindenburg had in May called Icahn’s pledge of about 60% of his IEP stake as …

Carl Icahn unties personal loans from IEP’s share price- WSJ Read More »

(This story has been refiled to say ‘seized,’ not ‘sized,’ and ‘SVB,’ not ‘SBV,’ in the headline) (Reuters) – SVB Financial Group has sued the U.S. Federal Deposit Insurance Corp (FDIC) to recover the $1.93 billion the regulator seized during its takeover of the failed Silicon Valley Bank in March, according to a filing in …

SVB Financial sues US FDIC to recover $1.93 billion seized in SVB rescue Read More »

SYDNEY (Reuters) – Australia’s central bank is set to lose a top official to the private sector amid a broader shake-up that could soon see its chief replaced. Westpac announced on Monday that it has appointed Reserve Bank of Australia (RBA) assistant governor Luci Ellis as Westpac’s chief economist, starting on Oct. 9, and she …

Westpac hires RBA assistant gov Luci Ellis as chief economist Read More »

(Corrects to clarify Li Qiang is head of the State Council, not state planner) BEIJING (Reuters) – China’s state planner said on Monday it held a meeting with private firms including Baidu and LONGi Green Energy Technology. The next step will be to continue to improve the communication mechanism with private enterprises and address the …

China’s state planner holds meeting with private firms, including Baidu Read More »

(Reuters) – A look at the day ahead in European and global markets from Wayne Cole China’s inflation data for June surprised on the downside, with consumer prices slipping 0.2% on the month to leave annual CPI dead flat. Producer prices fell 5.4% on the year, the sharpest decline since late 2015. On the face …

Marketmind: China disinflation a mix of good and bad Read More »

(Reuters) – China’s Ant Group has announced a surprise share buyback that values the fintech giant at $78.5 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit. The announcement came after China’s financial regulator on Friday fined the Alibaba Group affiliate $984 …

What people are saying about Ant Group’s $984 million fine and share buyback Read More »

By Byron Kaye and Lewis Jackson SYDNEY (Reuters) – The cost of serving up a sandwich with a cup of coffee has hit the roof across Australia’s vaunted cafes, squeezing profits and forcing a wave of closures for those that managed to survive the COVID slump. The A$10 billion ($6.6 billion) Australian cafe industry, the …

Analysis-Ground down: Australia coffee shops an early inflation casualty Read More »

TORONTO (Reuters) – Talks in Pacific Canada between striking dock workers and their employers have resumed after four days away from the negotiation table, a statement on Saturday by the British Columbia Maritime Employers Association (BCMEA) showed. The BCMEA and the International Longshore and Warehouse Union Canada (ILWU Canada) met on Saturday, supported by federal …

Canadian port strike talks resume, supported by federal mediators Read More »