Reuters USA

Peru 2022 growth likely hindered by protests, says central bank official

LIMA (Reuters) – Peru’s economy likely grew slightly less than 2.9% last year, a senior central bank official said on Friday, suggesting that the South American country’s economy expanded less than previously forecast, due in part to an explosion of social unrest that began in December. Adrian Armas, head of the bank’s economic studies unit, …

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Tough road ahead for U.S. fintech lenders as default risk rises

By Matt Tracy (Reuters) – U.S. fintech companies that lend to consumers with impaired credit scores face a tough year as rising defaults and interest rates limit the companies’ access to cost-effective debt financing. “We expect profitability to be depressed for many firms and funding conditions to remain challenging, as increased funding costs brought on …

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Biden to expedite deportation relief for migrants caught up in labor abuses

By Ted Hesson WASHINGTON (Reuters) – The Biden administration will speed up the deportation relief process for immigrants in the United States illegally who witness or experience labor abuses, the U.S. Department of Homeland Security (DHS) said on Friday. The streamlined process, outlined in a new webpage, aims to encourage immigrants to cooperate with law …

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Wall St banks stockpile funds, see uncertain outlook and competition for deposits

By Megan Davies and Lananh Nguyen NEW YORK (Reuters) -Wall Street’s biggest banks stockpiled more rainy-day funds to prepare for a possible recession, while showing caution about forecasting income growth in an uncertain economy and as higher rates increase competition for deposits. The outlook for big U.S. banks has been clouded by the Russia-Ukraine conflict …

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Analysis-U.S. House Republicans favor message over substance in early legislation

By David Morgan WASHINGTON (Reuters) – Republicans who control the U.S. House of Representatives wasted no time this week using their new majority to pass political messaging bills that appeal to conservative voters on hot-button issues, but often involved more hyperbole than substance. After a historic struggle to elect Kevin McCarthy as their speaker, House …

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