Reuters US Business

(Reuters) -Andy O’Brien, the global head of loan capital strategy at JPMorgan Chase, is set to retire at the end of 2025 after 40 years at the largest U.S. lender, according to an internal memo seen by Reuters on Tuesday. In his current role, O’Brien has been responsible for overseeing the lending portfolio across JPMorgan’s …

JPMorgan veteran Andy O’Brien to retire after 40-year stint at Wall Street giant Read More »

(Corrects date of final entry in table to June 2025, not May 2025) (Reuters) -The U.S. Federal Reserve announced on Tuesday that Wells Fargo will no longer have to operate under a $1.95 trillion asset cap the regulator imposed on the bank in 2018 following its long-running sales practices scandal. The Fed said in a …

Wells Fargo’s long road to lifting $1.95 trillion asset cap Read More »

By Jonathan Stempel (Reuters) -Capital One must face a lawsuit by social media creators who said the bank’s free browser extension stole their sales commissions when consumers bought their products and services. In a Monday night decision, U.S. District Judge Anthony Trenga in Alexandria, Virginia said creators plausibly alleged that Capital One knew or should …

Capital One must face social media creators’ lawsuit alleging stolen commissions Read More »

By David Shepardson (Reuters) -Major U.S. airlines want the Federal Aviation Administration to delay by two years the requirement set to take effect in Augustthat new passenger airplanes have a secondary barrier to the flight deck to prevent intrusions, the agency said on Tuesday. Airlines for America, the trade group representing American Airlines <AAL.O>, United …

US airlines seek 2-year delay for secondary cockpit barrier rule Read More »

By Michael S. Derby NEW YORK -The Federal Reserve saw $1 trillion in unrealized losses on its holdings last year, according to a report released Tuesday by the Federal Reserve Bank of New York. The bank said in its annual report for the System Open Market Account, the Fed’s massive holdings of cash and securities, …

NY Fed flags $1.06 trillion unrealized loss on bond holdings in 2024 Read More »

WASHINGTON (Reuters) -U.S. President Donald Trump will sign an executive order on Tuesday making official his vow to double tariffs on steel and aluminum, White House spokeswoman Karoline Leavitt told reporters in a briefing. Trump on Friday announced that he would increase tariffs on the two metals from 25% to 50%. On Monday, U.S. steel …

Trump to sign order doubling metals tariffs, White House says Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve officials on Tuesday argued again for caution on monetary policy as President Donald Trump’s trade war continues to inject substantial amounts of uncertainty and the risk of economic weakness into the outlook. “I continue to believe the best approach for monetary policy is patience,” Atlanta Fed …

Fed officials beat the policy patience drum as tariff uncertainty persists Read More »

By Lucia Mutikani WASHINGTON (Reuters) -U.S. job openings increased in April, but layoffs posted their biggest rise in nine months, suggesting that labor market conditions were softening as tariff uncertainty dims the economic outlook. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed the number of …

US labor market easing in the face of tariff uncertainty Read More »