(Reuters) -Facebook-parent Meta Platforms Inc said on Saturday that it would end availability of news content for Canadians on its platforms if the country’s Online News Act passes in its current form. The “Online News Act,” or House of Commons bill C-18, introduced in April last year laid out rules to force platforms like Meta …
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By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Monday it is reviewing its oversight of Silicon Valley Bank in the wake of its abrupt failure Friday. In a statement, Fed Chairman Jerome Powell said the bank’s failure, which set off a wave of concern over the banking system, demanded a “thorough, transparent, …
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By David Carnevali NEW YORK (Reuters) – Sliding bank shared dragged Wall Street on Monday with investors worried about contagion from the Silicon Valley Bank collapse, but trade was choppy and some sectors benefited from hopes the Federal Reserve could ease up on interest rates hikes. SVB Financial’s sudden shutdown on Friday after a failed …
Sliding bank shares drag Wall Street in choppy trade Read More »
SINGAPORE (Reuters) -Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilize the banking system and said …
Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB Read More »
By David Shepardson WASHINGTON (Reuters) – The Biden administration on Monday asked U.S. lawmakers to approve legislation to bar airlines from charging family seating fees if adjacent seats are available during booking. U.S. Transportation Secretary (USDOT) Pete Buttigieg wrote lawmakers and sent them draft legislation that would ban airlines from charging an accompanying adult to …
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(Reuters) -Cryptocurrency firm Circle said on Sunday all its depositors with the collapsed Silicon Valley Bank and Signature Bank will be made whole and the $3.3 billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open Monday. Circle’s announcement comes after the U.S. administration on Sunday stepped in with …
Circle says $3.3 billion USDC reserves to be fully available on Monday Read More »
(Reuters) – Walmart Inc said on Monday it would offer Easter meals and bundles at affordable prices, a move aimed at drawing more customers to its stores at a time when egg prices have surged and consumers are keeping a tight grip on their wallets. The price of eggs, a staple of Easter baskets, has …
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By Bianca Flowers and Mrinmay Dey (Reuters) -The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar had voted in favor of a new six-year labor contract with the firm, preventing a strike at the world’s largest maker of construction and mining equipment. Unionized workers unanimously accepted the deal that …
Caterpillar union workers vote in favor of six-year labor agreement Read More »
(Reuters) – General Motors Co is exploring uses for ChatGPT as part of its broader collaboration with Microsoft Corp, a company executive told Reuters. “ChatGPT is going to be in everything,” GM Vice President Scott Miller said in an interview last week. The chatbot could be used to access information on how to use vehicle …
(Reuters) -Interest from two early suitors for Silicon Valley Bank – PNC Financial Group Inc and Royal Bank of Canada – had cooled on Sunday, as U.S. regulators invited bids for the failed lender, according to sources familiar with the matter. The Federal Deposit Insurance Corporation (FDIC) had given a Sunday afternoon deadline for bids for …
Exclusive-PNC, RBC interest in SVB cools as regulators seek rescue bids Read More »
