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South Korea looking into bonuses at insurers, card firms – Yonhap

SEOUL (Reuters) – South Korea’s financial regulator is looking into bonus schemes at major insurance and credit card companies as the government calls for firms with strong profits to help poor people, Yonhap news agency reported on Friday. The move extends a campaign of President Yoon Suk-yeol that previously targeted banks and telecoms service providers. …

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Wall Street ends down sharply as data fuels rate-hike worries

By Johann M Cherian and Noel Randewich (Reuters) – Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the U.S. Federal Reserve will keep raising interest rates to tame high prices. A Labor Department report showed the highest rise in producer …

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Biden, 80, is healthy, ‘fit for duty,’ doctor says after physical

By Jeff Mason and Steve Holland BETHESDA, Md. (Reuters) -Doctors declared U.S. President Joe Biden, 80, healthy and “fit for duty” on Thursday after a physical examination that included removing a lesion from his chest and declaring him free of symptoms of long COVID after his bout last year with the virus. “The president remains …

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Actor Bruce Willis’ ‘condition has progressed’ to dementia, says family

By Danielle Broadway LOS ANGELES (Reuters) -Bruce Willis has been diagnosed with frontotemporal dementia, his family said on Thursday, nearly a year after the “Die Hard” franchise star retired from acting due to aphasia that hampered his cognitive abilities. “Since we announced Bruce’s diagnosis of aphasia in spring 2022, Bruce’s condition has progressed and we …

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U.S. Supreme Court cancels arguments in Republican bid to keep border expulsions

By Andrew Chung (Reuters) -The U.S. Supreme Court on Thursday canceled scheduled arguments in a case in which Republicans sought to keep in place a policy introduced under former President Donald Trump that has let American officials quickly expel hundreds of thousands of migrants at the U.S.-Mexico border. The policy, known as Title 42, was …

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Bank of Canada says overheated economy still stoking prices

By Steve Scherer and Kanishka Singh OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem said on Thursday that the economy remains overheated and the jobs market is too tight, as he kept the door open to future interest rate hikes. On Jan. 25, the Bank hiked its key interest rate to 4.5%, the highest level …

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Academic, policy architect, banking expert form BOJ’s new leadership

By Leika Kihara TOKYO (Reuters) – The Bank of Japan’s incoming governor Kazuo Ueda will lead a powerful trio that includes a technocrat who designed yield curve control, and a former banking-sector regulator who can look after the fallout from a future end to low interest rates. As an academic specialising in monetary policy, Ueda …

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Analysis-Clock ticking for loan market as Libor nears its end

By John McCrank NEW YORK (Reuters) – It’s crunch time for the corporate loan market. With under five months until the June 30 end-date for the publication of the London Interbank Offered Rate, around 80% of institutional loans and collateralized debt obligations (CLOs) – securities backed by pools of debt – are still tied to …

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Fund industry says proposed U.S. SEC rules would harm retirement savers

By John McCrank NEW YORK (Reuters) – The mutual fund industry is warning the U.S. Securities and Exchange Commission that new proposed rules aimed at better preparing open-end funds to weather distressed market conditions would harm investors saving for retirement. A November proposal from the SEC would require mutual funds, and some exchange-traded funds, to …

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Exclusive-Brazil plans legislation to crack down on laundering of illegal gold

By Anthony Boadle and Lisandra Paraguassu BRASILIA (Reuters) -Brazil’s government is taking a fresh tack in its effort to crack down on illegal gold mining in the Amazon, preparing legislation that would require electronic tax receipts for the buying and selling of the precious metal, four sources with knowledge of the plans said. President Luiz …

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