Reuters - Squid Business

Biden urges Republicans take debt default off table, warns interest rates would jump

By Jeff Mason and Andrea Shalal WASHINGTON (Reuters) -U.S. President Joe Biden on Monday urged House of Representatives Speaker Kevin McCarthy to take the potential for an unprecedented U.S. debt default off the table, warning that it would result in skyrocketing credit card and mortgage rates. “America is not a deadbeat nation. We have never, …

Biden urges Republicans take debt default off table, warns interest rates would jump Read More »

Biden should invite Israeli PM to White House, McCarthy says

By Emily Rose JERUSALEM (Reuters) -The U.S. should invite Israeli Prime Minister Benjamin Netanyahu to the White House for an official visit, U.S. House of Representatives Speaker Kevin McCarthy said on Monday, as a customary invitation has not been extended in the five months since Netanyahu’s election. “I expect the White House to invite the …

Biden should invite Israeli PM to White House, McCarthy says Read More »

Gold retreats as robust US data lifts dollar; focus on Fed

By Deep Kaushik Vakil (Reuters) – Gold prices edged lower on Monday as the dollar rose after better-than-expected U.S. manufacturing data, while markets await the Federal Reserve’s interest rate hike decision this week. Spot gold was down 0.4% at $1,982.20 per ounce by 1:55 p.m. ET (1755 GMT), reversing nearly 1% gains made earlier in …

Gold retreats as robust US data lifts dollar; focus on Fed Read More »

India cuts windfall tax on petroleum crude

(Reuters) -India has cut the windfall tax on petroleum crude to 4,100 rupees ($50.14) per tonne from 6,400 rupees per tonne, effective from Tuesday, according to a government notification. The government left the windfall tax on petrol, diesel and aviation turbine fuel at zero. The government revises tax rates fortnightly based on oil price fluctuations. …

India cuts windfall tax on petroleum crude Read More »

UK govt says country’s banking system safe and sound, after First Republic collapse

LONDON (Reuters) – Britain’s finance ministry said on Monday that the country’s banking system remained safe, sound and well capitalised, after First Republic Bank became the third major U.S. bank to fail in two months. “As the independent Bank of England has confirmed, the UK banking system remains safe, sound and well capitalised,” a spokesperson …

UK govt says country’s banking system safe and sound, after First Republic collapse Read More »

More than 2,200 guests to attend King Charles’ coronation at Westminster Abbey

LONDON (Reuters) – More than 2,200 people will attend the coronation of Britain’s King Charles, Buckingham Palace said on Monday, including international representatives from 203 countries as well as community and charity workers. The congregation at London’s Westminster Abbey on Saturday, May 6, will also comprise Nobel Prize winners, religious representatives, and heads of state …

More than 2,200 guests to attend King Charles’ coronation at Westminster Abbey Read More »

Factbox-Prince Harry and his lawsuits against the press

LONDON (Reuters) – Prince Harry and his wife Meghan have filed at least seven lawsuits against British and U.S. media organisations since 2019 to hold them to account for what they say are breaches of privacy, unlawful practices and false stories about him and his family. Harry, the younger son of King Charles, and his …

Factbox-Prince Harry and his lawsuits against the press Read More »

U.S. Supreme Court to examine whistleblower claims against financial firms in UBS case

By Daniel Wiessner (Reuters) -The U.S. Supreme Court on Monday agreed to examine how difficult it should be for financial whistleblowers to win retaliation lawsuits against their employers as the justices took up a long-running case involving Switzerland’s UBS Group AG. The justices will hear an appeal by Trevor Murray, a former UBS bond strategist, …

U.S. Supreme Court to examine whistleblower claims against financial firms in UBS case Read More »

JPMorgan buys First Republic Bank’s assets

(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank’s assets after U.S. regulators seized the troubled bank. The collapse marks the third major U.S. lender to fail in less than two months, after a week of panic which saw First Republic …

JPMorgan buys First Republic Bank’s assets Read More »

GM lays off several hundred full-time contract workers – WSJ

(Reuters) – General Motors Co has laid off several hundred full-time contract workers at its engineering hub in suburban Detroit over the weekend, the Wall Street Journal reported on Monday, citing a company spokesperson. The Detroit automaker did not immediately respond to a Reuters request for comment. GM shares were up about 2.5% to $33.86. …

GM lays off several hundred full-time contract workers – WSJ Read More »