By Lisa Baertlein LOS ANGELES (Reuters) -United Parcel Service and the International Brotherhood of Teamsters union on Monday started U.S. private sector labor contract talks covering roughly 340,000 U.S. drivers, package handlers and loaders at the global delivery firm. The stakes are high for union and management as recession threatens to cut in to business, …
By Richard Cowan and Katharine Jackson WASHINGTON (Reuters) -U.S. House of Representatives Speaker Kevin McCarthy on Monday outlined spending cuts he said his fellow Republicans would demand in exchange for voting to raise the federal government’s $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. His proposals included cutting spending to last year’s levels, capping …
US House Speaker McCarthy pitches budget cuts for debt limit vote Read More »
(Reuters) -Asset manager BlackRock Inc is launching a months-long process on Tuesday to help the Federal Deposit Insurance Corp offload $114 billion of assets it picked up recently from failed banks, Bloomberg News reported on Monday, citing emails. Earlier this month, the Federal Deposit Insurance Corp (FDIC) retained BlackRock’s unit to sell the securities portfolios …
BlackRock to kick off sales of securities of failed banks – Bloomberg News Read More »
By Jody Godoy and Helen Coster (Reuters) – Fox Corp shareholders are demanding company records that may show whether directors and executives properly oversaw Fox News’ coverage of former President Donald Trump’s election-rigging claims, sources told Reuters, in what could be a prelude to lawsuits seeking to make directors liable for costs. Investors are using …
Exclusive-Fox investors seek records in possible step toward suing directors Read More »
(This April 14 story has been corrected to delete the word ‘growth’ from the last line in paragraph 7) By David Randall NEW YORK (Reuters) – Investors are awaiting earnings reports from consumer discretionary companies in coming weeks for a read on how the U.S. economy is faring amid persistently high inflation and the Federal …
Consumer stocks’ earnings may offer clues on U.S. economy’s resilience Read More »
(Reuters) -Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better returns elsewhere. Deposits at custodian bank State Street Corp and regional bank M&T Bank Corp fell 3% each, while those at Charles Schwab Corp shrank …
US financial institutions hit by deposit flight as clients seek higher returns Read More »
By Lewis Krauskopf, Sruthi Shankar and Ankika Biswas (Reuters) – Major U.S. stock indexes posted modest gains on Monday, helped by financial and industrial shares, while investors braced for a heavy week of corporate results and comments from Federal Reserve officials that could give more insight into the path of interest rates. Markets are gauging …
Wall St ends higher; investors await earnings, Fed cues Read More »
By Davide Barbuscia NEW YORK (Reuters) – Tighter lending conditions after recent bank failures will likely drive the U.S. economy into a shallow recession in the second half of this year, bolstering the case for a gradual increase in exposure to long-term bonds in anticipation of a decline in interest rates, a Vanguard executive said …
Tighter lending seen bringing mild recession later this year-Vanguard Read More »
(Reuters) -Streaming platform Netflix Inc’s services were restored after a brief outage late on Sunday during a live stream of the dating reality show, “Love is Blind”. The platform, which is looking to break into live television, apologized for the slip-up on Sunday after thousands complained on social media about issues watching the show. “We’re …
Netflix back up after outage during ‘Love is Blind’ livestream Read More »
By Jack Queen (Reuters) – One of the most closely watched U.S. media trials in decades kicks off in a Delaware court on Monday as Fox Corp and Fox News face a $1.6 billion defamation lawsuit by Dominion Voting Systems over the network’s coverage of false claims that the ballot-counter company rigged the 2020 presidential …
Explainer-What to expect in the Dominion v. Fox defamation trial Read More »
