Reuters USA

By Jarrett Renshaw and Andrea Shalal WASHINGTON (Reuters) -When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, …

Biden’s subdued reaction to OPEC+ cuts foreshadows economic slowdown, carries risk Read More »

WASHINGTON (Reuters) -The Biden administration is seeking to allow immigrants illegally brought to the United States as children greater access to health insurance through federal programs, the White House said on Thursday. The proposal would allow participants in the Deferred Action for Childhood Arrivals program, or DACA, to access to health insurance under Medicaid and …

Biden seeks expanded health insurance access for DACA participants Read More »

(Reuters) – Wells Fargo has named Saul Van Beurden as the chief executive officer of its consumer and small business banking (CSBB) unit, effective May 15, it said in a statement on Thursday. (Reporting by Siddarth S in Bengaluru; Editing by Shailesh Kuber)

By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines on Thursday forecast higher-than-expected profit for the current quarter, citing “record” bookings for summer travel, even as the carrier missed first-quarter profit estimates due to higher fuel and labor costs. Shares of the carrier were initially up about 4%, but fell 3% in morning trade as …

Delta Air Lines’ profit miss on higher fuel costs clouds strong forecast Read More »

By Brendan Pierson (Reuters) – The abortion pill mifepristone will remain available in the United States for now but with significant restrictions, including a requirement for in-person doctor visits to obtain the drug, a federal appeals court ruled late on Wednesday. The New Orleans-based 5th U.S. Circuit Court of Appeals put on hold part of …

US appeals court preserves limited access to abortion pill Read More »

(Reuters) -JPMorgan Chase & Co has stopped working with dozens of base metals clients and slashed bonuses of its bankers after last year’s nickel crisis, Bloomberg News reported on Thursday, citing people familiar with the matter. The bank declined to comment on the report. JPMorgan’s metals business has been under strict internal scrutiny due to …

JPMorgan scales down metals business – Bloomberg News Read More »

By Steve Scherer and Ismail Shakil (Reuters) -The banking stress in the United States and Europe has had a limited impact on Canada’s financial system so far, Bank of Canada Governor Tiff Macklem said on Thursday, adding though that there was a need to actively monitor risks to the system. “You’re seeing a little bit …

Global bank stress has had ‘muted’ impact on Canada – BoC’s Macklem Read More »

By Diane Bartz WASHINGTON (Reuters) -Google argued Thursday that the U.S. Justice Department’s allegations that it broke antitrust law to build and maintain its dominance of search are flawed and that its lawsuit should be thrown out. The government, which filed its lawsuit in the waning days of the Trump administration, has argued that Alphabet’s …

Google asks judge to toss U.S. antitrust lawsuit, says a ‘superior product’ is not unlawful Read More »

By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp paid Chief Executive Darren Woods $35.9 million last year, a 52% increase from a year before, according to securities filings released on Thursday. Exxon last year posted a record profit of $56 billion, most among Western oil majors. (Reporting by Sabrina Valle)

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased more than expected last week, further evidence that labor market conditions were easing as higher borrowing costs dampen demand in the economy. The slowing momentum in the economy was underscored by other data from the Labor Department on …

US weekly jobless claims increase; producer inflation subsides Read More »