Reuters USA

Regions Financial’s quarterly profit falls on weaker interest income

(Reuters) – U.S. regional bank Regions Financial reported a fall in its third-quarter profit on Friday, as its interest income took a hit due to higher deposit costs and tepid loan demand. To keep customers from shifting to competitors or higher-yield options like money market funds, banks have increased deposit rates. Meanwhile, the industry also …

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Texas natural-gas pipeline eases bottlenecks, paves way for higher shale output

By Georgina McCartney MIDLAND, Texas (Reuters) – A new pipeline carrying shale natural gas from west Texas toward export hubs on the U.S. Gulf Coast has eased constraints that crashed local prices this year, and will help pave the way for higher U.S. oil production, energy executives said. Pipeline companies largely quit adding new capacity …

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Sinwar killing represents an ‘inflection point’ for possible Gaza ceasefire, White House says

By Jeff Mason BERLIN (Reuters) – Hamas leader Yahya Sinwar was the chief obstacle to securing a ceasefire in the Gaza conflict and his killing by Israel’s defense force creates an “inflection point” that could accelerate talks to wind down the war, White House spokesperson John Kirby said. Sinwar was the architect of the group’s …

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Column-US equity bears are no match for FOMO + TINA: McGeever

By Jamie McGeever ORLANDO, Florida (Reuters) – FOMO and TINA are two English-language acronyms that have become common parlance in financial markets. Together, they help explain the relentless rise of U.S. equities – a trend that now should probably be raising red flags.     Investors’ “fear of missing out” (FOMO) on a two-year bull run …

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Malaysia to widen tax net, raise minimum wages in 2025 as budget spending hits record

By Danial Azhar and Ashley Tang KUALA LUMPUR (Reuters) -Malaysia will introduce a slew of new taxes, cut subsidies for a widely used fuel, and raise the minimum wage from next year, Prime Minister Anwar Ibrahim said on Friday as he announced a record budget spending plan of 421 billion ringgit ($98 billion). Anwar said …

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Fifth Third Bancorp’s profit falls on higher loan loss provisions

(Reuters) – Fifth Third Bancorp reported a fall in its third-quarter profit on Friday, as the bank set aside more money to cover for potential loan defaults, sending its shares down 3% in premarket trading. Banks have been allocating larger reserves as customers deplete their savings built up during the pandemic, resulting in provisions rising …

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Case for quick ECB rate cuts mounts as growth weakens and inflation is tamed

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -Euro zone inflation could ease more quickly than previously thought and economic growth is also likely to remain weak, ECB policymakers and fresh surveys said on Friday, reinforcing the case for a rapid pace of interest rate cuts in the months ahead. The ECB lowered interest rates …

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