Reuters | June 1, 2023
By David Morgan, Richard Cowan and Moira Warburton WASHINGTON (Reuters) – A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. The Republican-controlled House voted 314-117 to […]
Reuters | May 30, 2023
By Steve Holland WASHINGTON (Reuters) – When Kevin McCarthy was struggling early this year to get enough votes from his own Republicans to become Speaker of the House of Representatives, Democratic President Joe Biden called the prolonged saga a national embarrassment, then had a little fun. “I’ve got good news for you,” Biden said, pointing […]
Reuters | May 26, 2023
(Reuters) – Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they take action to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. The moves, part of a broader corporate exodus from Russia, are […]
Reuters | May 26, 2023
A look at the day ahead in U.S. and global markets from Mike Dolan As the AI-led tech stock boom unfolds, there’s light at the end of the U.S. debt ceiling saga – only markets now reckon the Federal Reserve will tighten policy even further this summer. Investors juggled these three strands over the past […]
Reuters | May 23, 2023
By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked […]
Reuters | May 18, 2023
WASHINGTON (Reuters) – U.S. President Joe Biden and House of Representatives Speaker Kevin McCarthy, the top Republican in Washington, hope to finalize a deal on the debt ceiling after Biden returns from the Group of Seven meeting in Japan on Sunday. The debt ceiling bill Republicans have passed in the House and Democrat Biden’s 2024 […]
Reuters | May 16, 2023
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday warned that a default on government debt would likely leave millions of Americans without income payments, potentially triggering a recession that could destroy many American jobs and businesses. Yellen told a gathering of community bankers that the unprecedented economic and financial crisis […]
Reuters | May 15, 2023
By Marine Strauss BRUSSELS (Reuters) – Providing equitable access to appropriate housing in slums and other informal settlements could massively increase economic growth and boost life expectancy, a report to be published on Tuesday by home-building charity Habitat for Humanity shows. Proper housing could increase economic growth by up to 10.5%, while life expectancy could […]
Reuters | May 8, 2023
WASHINGTON (Reuters) – President Joe Biden said on Friday he was not yet ready to invoke the 14th Amendment to avoid the United States defaulting on its debts as early as June 1, comments which for the first time suggested he has not ruled out the option. “I’ve not gotten there yet,” Biden said in […]
Reuters | May 5, 2023
By Helen Reid LONDON (Reuters) – Adidas is set to update investors on Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over his anti-Semitic comments late last year. Executives are expected to tackle the issue when the company reports first-quarter […]