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(Reuters) – The U.S. Federal Deposit Insurance Corporation (FDIC) will take the plight of community banks into account when charging financial institutions a “special assessment fee” to cover recent losses incurred over the U.S. banking crisis, the FDIC’s head told lawmakers in a hearing on Wednesday. The special assessment fee, which is required by law, …

FDIC to consider bank size in applying ‘special assessment fee’ Read More »

By Fergal Smith (Reuters) -Canada’s main stock index rose on Wednesday to its highest closing level in nearly three weeks, helped by gains for energy and technology shares, but investors were cautious about chasing further gains until the U.S. Federal Reserve halts its rate hikes. The Toronto Stock Exchange’s S&P/TSX composite index ended up 180.12 …

TSX rises to three-week but caution remains on rate outlook Read More »

WASHINGTON (Reuters) -The White House is preparing to release more of its promised plans to strengthen U.S. bank oversight as soon as this week after Silicon Valley Bank’s collapse of earlier this month, according to a person familiar with the preparations. President Joe Biden, a Democrat, is expected to push for rules to be reinstated …

White House prepares new bank rule proposal after failures – source Read More »

(Reuters) – Digital World Acquisition Corp, a blank-check firm that is to merge with former U.S. President Donald Trump’s social media platform, said on Wednesday it had been cleared by the Nasdaq over non-payment of certain dues. “The company’s fee delinquency has been cured, and as a result the company has regained compliance with the …

Trump-backed SPAC Digital World regains compliance with Nasdaq listing Read More »

By David Shepardson WASHINGTON (Reuters) – The U.S. Treasury Department’s long-awaited guidance on battery sourcing requirements for electric vehicle tax credits due out by Friday will result in fewer vehicles getting full or partial credits, a U.S. official told Reuters. In December, Treasury decided not to issue the proposed guidance on battery sourcing rules until …

US battery sourcing guidance to cut some EV tax credits -official Read More »

By Akash Sriram and Jane Lanhee Lee (Reuters) -Micron Technology Inc on Tuesday forecast third-quarter revenue would tumble nearly 60% from a year earlier but the steep drop was in line with Wall Street expectations and the company’s shares rose after the close of regular trading. With a glut still nagging the chip industry, Micron …

Memory chipmaker Micron expects revenue drop in line with Wall St view, shares rise Read More »