By Caroline Valetkevitch (Reuters) – U.S. stocks ended slightly lower on Tuesday as investors weighed comments from a top U.S. regulator on struggling banks and sold shares of technology-related names after their recent strong run. Michael Barr, the Federal Reserve’s top banking regulator, told a Senate panel that Silicon Valley Bank did a “terrible” job …
Wall Street ends down with tech; investors assess bank comments Read More »
OTTAWA, March 28 (Reuters) Canada recorded a budget deficit of C$6.44 billion in the first 10 months of 2022-2023 fiscal year, the finance ministry said on Tuesday. In the same period last year, it recorded a deficit of C$75.29 billion. In January, the budget deficit was C$906 million, compared with a deficit of C$5.18 billion …
Canada records C$6.44 billion budget deficit in first 10 months of 2022-23 Read More »
By Jody Godoy (Reuters) – An insurance company owned by private equity firm Eldridge Industries must face a lawsuit claiming it misrepresented how much investors stood to gain on certain fixed annuities, a U.S. appeals court ruled on Tuesday. The 10th U.S. Circuit Court of Appeals ruled 2-1 to revive the proposed class action alleging …
U.S. appeals court revives investor lawsuit against annuity company Read More »
BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Tuesday that the highly anticipated fiscal framework of the new government will be announced this week, following a concluding meeting on the matter with Chief of Staff Rui Costa on Wednesday. “It will be a concluding meeting about the framework and therefore this week we …
Brazil’s Haddad says fiscal framework will be announced this week Read More »
STOCKHOLM (Reuters) -Swedish mortgage rates more than doubled for new mortgage borrowers in 2022 versus the previous year, but the majority of households still have good economic buffers, a report by the financial watchdog showed on Tuesday. House prices have slumped in Sweden over the last year as a result of higher interest rates, while …
Most Swedish mortgage borrowers have good buffers despite rising rates, FSA report says Read More »
By Renju Jose SYDNEY (Reuters) – Australian Treasurer Jim Chalmers will convene a meeting of the country’s top financial regulators to check how the latest volatility in global financial markets could affect the country, an official in the treasurer’s office said on Tuesday. Australia’s Council of Financial Regulators (CFR) will meet on Thursday after Chalmers …
Australia’s key financial regulators to review global banking turmoil Read More »
By Lewis Jackson and Byron Kaye SYDNEY (Reuters) -Australia’s biggest lenders said on Tuesday the domestic financial sector was unlikely to be caught in turmoil engulfing rivals in the US and Europe, but warned that raging competition to sell home loans and attract deposits was hitting margins. Regulators and bankers insist the country’s banks, bolstered …
Australian bank worries turn from chaos overseas to profits at home Read More »
By Leah Douglas WASHINGTON (Reuters) -U.S. farmers who are struggling economically will receive another $123 million in debt relief from the U.S. Department of Agriculture (USDA) under a program funded by the Inflation Reduction Act (IRA), the agency said Monday. The IRA allocated $3.1 billion to USDA to provide debt relief for farmers in economic …
U.S. farm agency to provide additional $123 million in debt relief Read More »
By Noe Torres MEXICO CITY (Reuters) – The Bank of Mexico is expected to moderate the pace of its monetary tightening, and hike the benchmark interest rate by 25 basis points on Thursday as inflation has shown signs of cooling, a Reuters poll showed on Monday. All 20 analysts surveyed said they expect Banxico, as …
Bank of Mexico seen hiking key rate by 25 basis points on Thursday- Reuters Poll Read More »
By Pete Schroeder WASHINGTON (Reuters) -Top U.S. banking regulators plan to tell Congress that the overall financial system remains on solid footing after recent bank failures, but will comprehensively review their policies in a bid to prevent future collapses. In prepared testimony, Fed Vice Chair for Supervision Michael Barr said that the banking system is …
U.S. bank regulators say system is sound, but rules need review Read More »
