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PANAMA CITY (Reuters) -Latin America has a “very resilient and well-managed” financial system, Inter-American Development Bank President Ilan Goldfajn said on Wednesday, following the collapse of Silicon Valley Bank, which has roiled markets. “We hope that we are prepared for what is coming in the region,” Goldfajn added, speaking at an IDB meeting in Panama …

LatAm has ‘resilient’ financial system, IDB president says after SVB collapse Read More »

By Moira Warburton WASHINGTON (Reuters) -The U.S. Congress needs to act on bipartisan legislation strengthening banking industry controls, Senate Majority Leader Chuck Schumer said on Wednesday, amid global worries over the financial soundness of Credit Suisse and the collapse of Silicon Valley Bank. “We need strong legislation and hopefully we can put something together that’s …

Top US Senate Democrat Schumer wants legislative response to banking ills Read More »

(Reuters) -Online brokerage Robinhood Markets Inc said on Wednesday its Chief Operating Officer Gretchen Howard will retire at the end of 2023. Beginning April 3, Howard will take on the role of special adviser, Robinhood said. Before her stint at Robinhood, Howard was a partner with CapitalG, Alphabet Inc’s venture capital arm. Prior to that, …

Robinhood COO Howard to retire at year-end Read More »

(Reuters) – S&P has not placed other U.S. banks on CreditWatch negative since First Republic Bank as it has not seen widespread deposit outflows, the ratings agency said on Tuesday, hours after Moody’s cut its outlook on the U.S. banking system to negative. The collapse of Silicon Valley Bank had sparked a crisis of confidence …

S&P says not seen rampant deposit outflows to merit rating action Read More »

By Timothy Gardner WASHINGTON (Reuters) – Six environmental groups filed a lawsuit on Tuesday over the Biden administration’s approval of ConocoPhillips’ Willow oil and gas project in Alaska, which they claimed could be a stepping stone to more development in an ecologically sensitive region. Trustees for Alaska, the Alaska Wilderness League, the Sierra Club, The …

Green groups sue Biden admin over approval of Alaska Willow oil project Read More »

By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters. Investors had begun to doubt the ECB’s commitment to another big rate …

ECB likely to stick to big rate hike despite banking turmoil, source says Read More »

By Jessica DiNapoli NEW YORK (Reuters) – Dollar Tree Inc has stopped selling eggs in its Dollar Tree stores, a spokesperson for the U.S. retailer confirmed late Tuesday, as the staple food has skyrocketed in price by as much as 60% during the fall. The chain, which is increasingly a go-to grocery destination for cash …

With prices soaring, Dollar Tree ditches eggs until later this year Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg said on Tuesday that a series of aviation close calls was “deeply troubling and deserve our immediate attention.” The Federal Aviation Administration (FAA) is holding a safety summit on Wednesday with airlines, unions, airports and other industry segments after numerous recent near-miss incidents have raised …

Buttigieg says recent U.S. aviation close calls ‘deeply troubling’ Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – A U.S. lending program to stem deposit outflows in the wake of Silicon Valley Bank’s collapse gives the Federal Reserve scope to continue raising interest rates if needed to slow inflation without exacerbating losses on bonds held by banks. That said, Tuesday’s U.S. inflation news should not force …

Analysis-U.S. bank loan plan provides Fed rate hike path amid SVB fallout Read More »