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Yellen warns U.S. House members of ‘economic collapse’ from default

By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen urged members of the U.S. House of Representatives on Friday to raise the federal debt ceiling without conditions, warning that a default on U.S. debt would cause “economic and financial collapse.” Yellen, in budget testimony before the Republican-controlled House Ways and Means Committee, said that …

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US senators blast Treasury’s ‘lack of progress’ on climate risks

By Andrea Shalal WASHINGTON (Reuters) -Three U.S. senators blasted the Treasury Department on Thursday for what they called its failure to act more swiftly on countering climate risks, and they urged Secretary Janet Yellen to appoint a new climate counselor to lead the effort. In a letter to Yellen viewed by Reuters, Democratic Senators Elizabeth …

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Ether hits 2-month low as New York AG labels crypto token as security

(Reuters) – Cryptocurrency token Ether fell to its lowest in two months on Friday after the New York attorney general labeled it a security, bracketing it with assets such as stocks and bonds and fueling fears of a wider regulatory crackdown. New York Attorney General Letitia James on Thursday referred to Ether as a security …

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US reports strong job growth in February; wage gains slow

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added jobs at a brisk clip in February, but monthly wage growth slowed and the unemployment rate rose, pointing to some labor market loosening and prompting financial markets to dial back expectations that the Federal Reserve would raise interest rates by half a percentage point this …

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SVB scrambles for options after stock sale failed-sources

NEW YORK (Reuters) – SVB Financial Group Inc is urgently exploring all available options, including a sale of the technology-focused bank, after its bid to raise money through a stock sale failed in the wake of some of its clients withdrawing deposits, according to people familiar with the matter. SVB is talking to other financial …

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Canada Feb job gains surprisingly strong, upping pressure for higher rates

By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -The Canadian economy beat expectations by adding 21,800 jobs in February, putting pressure on the central bank to consider another rate hike after saying it wanted end its year-long tightening campaign, data showed on Friday. Analysts surveyed by Reuters had forecast a net gain of 10,000 jobs …

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Brazil, Australia open talks for agricultural trade agreements

SAO PAULO (Reuters) – The Brazilian and Australian governments have opened talks aimed at forging new agricultural trade agreements, according to a statement from the Brazilian agriculture ministry on Friday. Brazil aims to export pork to Australia, the statement said. The South American country in turn could start importing Australian wheat and barley under a …

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TSX falls after tight labor data stokes rate hike worries

(Reuters) – Canada’s benchmark stock index edged lower on Friday, as data reflecting a resilient labor market refueled investor angst on whether the Bank of Canada would continue to keep its monetary tightening campaign suspended. At 9:34 a.m. ET (1434 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 110.91 points, or 0.55%, at …

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SVB Financial looks to sell itself – CNBC

(Reuters) -Startup-focused lender SVB Financial Group is looking to sell itself after an attempt to raise capital through a stock sale failed, CNBC reported on Friday. The bank was looking to raise more than $2 billion from investors to plug a hole in its balance sheet. Shares of the troubled company nearly halved on Friday …

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Mexican cartel says sorry for attack on Americans, bodies return to US

By Daniel Becerril MATAMOROS, Mexico (Reuters) -Suspected drug cartel members on Thursday handed over five purported henchmen as a would-be apology for the abduction of four Americans in the border city of Matamoros, according to media and a source familiar with the investigation. Two of the Americans and a Mexican woman died after gunmen opened …

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