Reuters USA

US House Speaker McCarthy pitches budget cuts for debt limit vote

By Richard Cowan and Katharine Jackson WASHINGTON (Reuters) -U.S. House of Representatives Speaker Kevin McCarthy on Monday outlined spending cuts he said his fellow Republicans would demand in exchange for voting to raise the federal government’s $31.4 trillion debt ceiling, avoiding a potentially catastrophic default. His proposals included cutting spending to last year’s levels, capping …

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US Senator Fetterman returns to Senate after depression treatment

By Katharine Jackson WASHINGTON (Reuters) – Democratic U.S. Senator John Fetterman returned to work on Monday after weeks of treatment for depression, bringing a crucial vote back to a Senate narrowly controlled by Democrats. The Pennsylvania senator, 53, waved to cameras as he entered the Capitol in his customary hoodie and shorts. “It’s great to …

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US financial institutions hit by deposit flight as clients seek higher returns

(Reuters) -Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better returns elsewhere. Deposits at custodian bank State Street Corp and regional bank M&T Bank Corp fell 3% each, while those at Charles Schwab Corp shrank …

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Analysis-Republican states could be hit hardest by McCarthy’s proposed spending cuts

By Andy Sullivan WASHINGTON (Reuters) – The spending-cut proposals unveiled by U.S. House of Representatives Speaker Kevin McCarthy on Monday could fall hardest on people in Republican-leaning states, a Reuters analysis of federal spending data found. McCarthy’s plan, which he presented as a condition for raising the United States’s $31.4 trillion debt ceiling, calls for …

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Republican US congressman asks judge to let probe into Trump case proceed

By Luc Cohen NEW YORK (Reuters) -Republican U.S. congressman Jim Jordan on Monday asked a judge to let a House of Representatives panel’s investigation into the criminal prosecution of former President Donald Trump proceed, saying a subpoena of a former Manhattan prosecutor was needed by lawmakers as they consider possible legislation. Jordan, chairman of the …

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US SEC charges Bittrex with operating unregistered securities exchange

By Hannah Lang (Reuters) -The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC alleged in its complaint, which was filed in a U.S. district court in Washington, that Shihara coordinated with crypto …

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US Supreme Court rebuffs Novartis bid to revive MS drug Gilenya patent

By Blake Brittain WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear Novartis Pharmaceuticals Corp’s bid to revive a key patent on its blockbuster multiple sclerosis drug Gilenya that was invalidated amid a legal dispute with China’s HEC Pharm Co Ltd. The justices turned away an appeal by Novartis of a lower court’s …

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