By Pete Schroeder WASHINGTON (Reuters) -Federal Reserve Governor Michelle Bowman said on Wednesday a proposed plan by regulators to hike bank capital requirements has shortcomings, but that she is optimistic policymakers can compromise on a final rule. Bowman, who voted against the so-called “Basel endgame” proposal in July as overly restrictive on banks, reiterated her …
(Reuters) – Digital World Acquisition, the blank-check firm set to merge with former U.S. President Donald Trump’s media company, said in a filing it could raise up to $50 million by issuing convertible notes or warrants. Digital World’s shares fell 9.2% to $20.30 on Wednesday. A special purpose acquisition company, or SPAC, is a publicly …
Trump-linked SPAC may raise up to $50 million via convertible notes, warrants Read More »
(Reuters) – UAW members at Allison Transmission’s Indianapolis facilities voted to ratify a new labor agreement, adding to the union’s recent list of victories including record wage hikes for workers at the Detroit Three automakers. Nearly 82% of workers voted in favor of the proposed four-year deal, which guarantees a starting wage of $20 an …
UAW members at Allison Transmission vote to ratify new four-year contract Read More »
By John Kruzel and Andrew Chung WASHINGTON (Reuters) -The U.S. Supreme Court began hearing arguments on Wednesday in a dispute involving a government-run program to monitor for overfishing of herring off New England’s coast that gives its conservative majority a chance to further limit the regulatory powers of federal agencies. The justices are weighing appeals …
Supreme Court hears arguments over US agency powers in fishing dispute Read More »
(Reuters) -Citigroup pushed forward its forecast of the U.S. Federal Reserve’s 25 basis-point interest rate cut to June from July, citing the central bank’s dovish stance, falling inflation, and rising pressures from geopolitical risks. The brokerage said on Wednesday it expects 125 bps of total rate cuts in 2024, compared to its earlier forecast of …
By Jonathan Allen NEW YORK (Reuters) – A former U.S. Marine sergeant charged with manslaughter for killing Jordan Neely, a homeless man, on the New York City subway was due back in court on Wednesday for a judge’s decision on his motion to dismiss the indictment. Daniel Penny was captured in videos recorded by bystanders …
New York judge weighs dismissing charges against former marine in Jordan Neely killing Read More »
(Reuters) – Rogers Communications said on Wednesday Deputy Chair Melinda Rogers-Hixon and Martha Rogers have decided to retire from the Canadian telecom giant’s board as part of a private settlement between the members of the founding family. The wireless carrier was embroiled in a boardroom battle in 2021, weighing on the stock and raising doubts …
Rogers family’s two members to retire from telecom giant’s board Read More »
By Amina Niasse NEW YORK (Reuters) – U.S. homebuilder confidence spiked in January by the most since February 2023 as declining interest rates for mortgages enhanced affordability for many buyers who were priced out of the market last year. The National Association of Homebuilders/Wells Fargo index of builder confidence rose this month to 44, the …
Homebuilder confidence jumps by the most in 11 months – NAHB Read More »
By Shivansh Tiwary (Reuters) -Shares of ultra-low-cost carrier Spirit Airlines fell 17% in morning trade on Wednesday, a day after a U.S. judge blocked the airline’s planned $3.8 billion merger with rival JetBlue Airways. Spirit’s stock shed nearly half of its market value on Tuesday after a federal judge agreed with the U.S. Department of …
Spirit Airlines extends slide as blocking of JetBlue merger fuels uncertainty Read More »
(Reuters) -Verizon’s fourth-quarter results will take a $5.8 billion hit from charges related to a write down in the value of its unit that caters to businesses and government clients due to declining wireline revenue, the U.S. telecom firm said. The move follows a five-year review of the unit that showed its financial projections were …
Verizon’s fourth quarter to take $5.8 billion hit from unit write down Read More »
