By Johann M Cherian and Fergal Smith (Reuters) -Canada’s main stock index recouped its earlier decline to close higher on Friday, helped by gains for industrial and gold mining shares, as hopes rose that the U.S. Federal Reserve’s tightening campaign is coming to an end amid turmoil in the banking sector. The Toronto Stock Exchange’s …
Gold miners help lift Toronto market to weekly gain Read More »
WASHINGTON (Reuters) – The U.S. Treasury said that the multi-regulator Financial Stability Oversight Council agreed in a meeting on Friday that the U.S. banking system remains “sound and resilient” despite stress on some institutions. In a readout of the closed meeting held by videoconference, the Treasury said that FSOC participants heard a presentation on market …
U.S. Treasury says FSOC agreed banking system sound Read More »
(Reuters) – Elon Musk, the billionaire founder of SpaceX, on Friday denied a media report from earlier this week that said investors from Saudi Arabia and the United Arab Emirates were planning to invest in a multi-billion dollar funding round in the company. A unit of Saudi Arabia’s investment fund and an Abu Dhabi-based company …
Musk denies report on SpaceX’s plans for new funding from Saudi, UAE Read More »
By David Morgan and Richard Cowan WASHINGTON (Reuters) -U.S. House Republicans are working on a “term sheet” of conditions they would want Democrats to agree to before voting to raise the government’s $31.4 trillion debt ceiling, which would be necessary to avert a historic default that could shake the economy. House Budget Committee Chairman Jodey …
US House Republicans readying debt ceiling ‘term sheet’ conditions Read More »
By David Lawder and Kanishka Singh WASHINGTON (Reuters) -Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further actions to ensure that Americans’ bank deposits stay safe amid turmoil in the U.S. banking system. “As I have said, we have used important tools to act quickly to prevent contagion. And they …
Yellen says US prepared to take additional actions to keep bank deposits safe Read More »
By Koh Gui Qing NEW YORK (Reuters) – Wall Street stocks rose on Thursday, pushing up global stock indexes, and Treasury yields fell, as investors took comfort that the Federal Reserve might pause its interest rate rises to offset the turmoil in financial markets. The gains in U.S stocks offset loses in Europe, where a …
Stocks up, bond yields fall as markets mull a Fed policy pause Read More »
By Ross Kerber (Reuters) – Large companies, including asset manager Franklin Templeton and web-services provider Akamai Technologies Inc, joined an effort on Thursday to defend sustainable investment practices from a backlash by U.S. Republican politicians. The companies signed a statement that also drew backing from leaders of major pension funds in Democratic-leaning states New York …
Franklin Templeton, Akamai join anti-anti-ESG effort Read More »
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen said on Thursday the U.S. Federal Deposit Insurance Corporation’s (FDIC) estimation of a $2.5 billion loss related to Signature Bank was not a final determination. New York-based Signature Bank closed earlier this month, days after the failure of Silicon Valley Bank, throwing the stock market into a turmoil …
By Allison Lampert and Abhijith Ganapavaram MONTREAL (Reuters) -Business jet maker Bombardier Inc on Thursday raised 2025 revenue and free cash targets at its investor day and said it would produce more planes, despite broader economic headwinds. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying in the U.S. …
Bombardier lifts 2025 financial targets, production amid strong business jet market Read More »
By Hilary Russ NEW YORK (Reuters) -Starbucks, which has faced criticism over its opposition to union organizing, wants to be “a different kind of company” that cares for its frontline workers, new CEO Laxman Narasimhan told employees on Thursday before the coffee chain’s annual meeting. In a letter to workers, Narasimhan said Starbucks’ performance was …
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