LONDON (Reuters) – Investors lifted equity allocations to a 5-month high but cash levels also increased to 5.6%, even as they remained worried about a possible credit crunch and inflation staying elevated, a Bank of America survey showed on Tuesday. The survey of 289 fund managers with a total of $753 billion in assets showed …
Investors lift equity allocations to 5-month high – BofA survey Read More »
By Byron Kaye SYDNEY (Reuters) – Australia’s big banks are pivoting to what analysts say could be a risky fight for growth in the country’s unloved business loans market as a price war ends a decade-long profit bonanza in the mortgage sector. The country’s four largest lenders said this month they would redirect capital and …
Analysis-Australian banks’ bid to shake mortgage reliance brings new risks Read More »
By David Lawder, Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days. In her second letter to Congress …
US on track for June 1 default without debt ceiling hike, Treasury says Read More »
By Tom Hals WILMINGTON, Delaware (Reuters) -The U.S. Virgin Islands has subpoenaed Tesla Inc CEO Elon Musk for documents in its lawsuit accusing JPMorgan Chase & Co of helping enable sexual abuses by late sex offender Jeffrey Epstein. The subpoena, issued on April 28, came to light on Monday in a request by the Virgin …
Elon Musk documents subpoenaed in Jeffrey Epstein lawsuit by US Virgin Islands Read More »
By Pete Schroeder WASHINGTON (Reuters) -Top U.S. banking regulators plan to tell lawmakers the government will be open to future bank mergers, but are committed to establishing tougher rules after recent turmoil. In prepared testimony published by the House Financial Services Committee Monday, officials were resolute on the need for stricter bank rules and supervision …
US banking regulators open to mergers, but vow tougher rules Read More »
By Howard Schneider AMELIA ISLAND, Florida (Reuters) -Richmond Federal Reserve President Thomas Barkin on Monday said he is not convinced inflation is on a steady decline back to the U.S. central bank’s 2% target or that overall demand in the economy has been curbed enough to ensure it gets there. Barkin said he remained open-minded …
Fed’s Barkin not yet convinced inflation heading steadily lower Read More »
By Dietrich Knauth (Reuters) – Kidde-Fenwal Inc, a subsidiary of Carrier Global Corp that specializes in fire control systems, filed for bankruptcy on Sunday, as it buckles under the weight of lawsuits alleging that “forever chemicals” in its firefighting foam products have contaminated water sources around U.S. airports and military bases. Kidde-Fenwal filed for Chapter …
Fire protection company Kidde-Fenwal files for bankruptcy citing PFAS lawsuits Read More »
(Reuters) – Brazil’s Nubank on Monday reported record revenue for the first-quarter as the digital bank benefited from steady growth in users and higher average revenue per customer. Warren Buffett-backed Nubank has so far been insulated from the downturn in the global banking sector as consumers in its key domestic Latin American market continue to …
Buffett-backed Nubank reports record revenue on steady user growth Read More »
(Reuters) – The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August, and asked that offers be submitted by May 31. U.S. Energy Secretary Jennifer Granholm had signaled to lawmakers late last week that her department could start repurchasing …
US to buy 3 million barrels to refill emergency oil reserve Read More »
By Ann Saphir and Howard Schneider -U.S. central bankers on Monday signaled they see interest rates staying high and, if anything, going higher, given inflation that may be slow to improve and an economy showing only tentative signs of weakness. In interviews and media appearances, four regional U.S. central bank presidents began disentangling the data …
Fed officials expect interest rates to remain high, possibly rise Read More »
