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(Reuters) -U.S. officials are considering to limit the ability of large banks to use Federal Home Loan Banks (FHLBs) as a financial backstop, as part of a broader proposal to overhaul the system, Bloomberg News reported on Friday. In addition to limiting access for big banks, regulators have discussed requiring banks that want to borrow …

US regulators consider to limit major lenders’ borrowings from FHLBs – Bloomberg News Read More »

By David Lawder (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that the U.S. economy is on a path to maintain a strong labor market while reducing inflation, even if the economy cools a bit more. Yellen said in prepared remarks at a residential solar power company in New Orleans that strong household and …

Yellen sees strong job market, lower inflation, even as US economy cools Read More »

By Lisa Baertlein LOS ANGELES (Reuters) -United Parcel Service delivered a revised contract offer with “significant movement on wages and other economic language,” the union representing roughly 340,000 U.S. drivers, package handlers and loaders at the global delivery firm said on Friday. The International Brotherhood of Teamsters union said UPS has requested more time to …

Revised UPS contract offer makes ‘significant’ movement on pay -Teamsters Read More »

(Reuters) -Goldman Sachs is considering exiting its partnership with Apple, the Wall Street Journal reported on Friday, citing sources familiar with the matter. The iPhone-maker and Goldman Sachs started rolling out a virtual credit card in 2019. The bank is in talks with American Express to take over its Apple credit card and other ventures …

Goldman Sachs may exit partnership with Apple – WSJ Read More »

By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Major central banks have collectively raised rates by more than 3,750 basis points since September 2021, …

How hedge funds plan to trade the second half of 2023 Read More »

By Alexander Marrow (Reuters) -The Russian rouble slumped to a more than 15-month low against the dollar and euro on Friday, weighed down by domestic political risk concerns after an aborted armed mutiny over the weekend and lacking support drivers. By 0734 GMT, the rouble was 0.8% weaker against the dollar at 88.26 after earlier …

Rouble sinks to over 15-month low vs dollar on political risk concern Read More »

(Reuters) – French catering and food services group Sodexo on Friday raised the full-year outlook of its voucher business for the second time this year as it benefits from companies’ attempts to get employees back to the office. Employers have also turned to companies like Sodexo to offer vouchers to staff to help them cope …

Sodexo raises outlook for voucher business a second time Read More »

By Marc Jones LONDON (Reuters) – The first six months of 2023 have been eventful for financial markets – from an artificial intelligence (AI) inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers. Linking it all has been the relentless rise in interest rates, which was exactly …

Global markets in H1: Banks vs the machines Read More »

(This story has been corrected to rectify the description of Reuters poll consensus in paragraph 11) By Devayani Sathyan BENGALURU (Reuters) – The Reserve Bank of Australia will likely raise its interest rate by 25 basis points to 4.35% on Tuesday to tame stubbornly high inflation, although a Reuters poll of economists showed the decision …

RBA to raise rates to 4.35% on July 4 but decision on a knife edge: Reuters poll Read More »

By Ismail Shakil OTTAWA (Reuters) -Google said on Thursday it plans to block Canadian news on its platform in Canada, joining Facebook in escalating a campaign against a new law requiring payments to local news publishers. Alphabet-owned Google will remove links to Canadian news from search results and other products in Canada when the law …

Google to block news in Canada over law on paying publishers Read More »