Reuters USA - Squid Business

New York City braces for Trump indictment after ex-president urges protests

By Karen Freifeld and Luc Cohen NEW YORK (Reuters) -Workers erected barricades around a Manhattan courthouse on Monday as New York City braced for a possible indictment of Donald Trump over an alleged hush-money payment to porn star Stormy Daniels during his 2016 campaign. It would be the first-ever criminal case against any U.S. president. …

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US declines to force lower price on cancer drug Xtandi

WASHINGTON (Reuters) – The U.S. government will not force Pfizer Inc and Astellas Pharma Inc to lower the price of their prostate cancer drug Xtandi using its emergency “march-in” authority, the National Institutes of Health (NIH) said on Tuesday. March-in rights, which have never been used before, allow the government to grant additional licenses to …

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Wall Street ends green on bank bounce as Fed takes focus

By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply higher on Tuesday as widespread fears over liquidity in the banking sector abated and market participants eyed the Federal Reserve, which is expected to conclude its two-day policy meeting on Wednesday with a 25 basis-point hike to its policy rate. All three major U.S. …

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Biden honors Springsteen, Julia Louis-Dreyfus, Mindy Kaling

By Steve Holland WASHINGTON (Reuters) – U.S. President Joe Biden made an observation when conferring the National Medal of Arts on rocker Bruce Springsteen on Tuesday: “Bruce, some people are just born to run, man.” Springsteen and a host of actors, authors, singers and other artists joined Biden in the White House East Room where …

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Judge to Trump: Trial date in NY civil fraud case ‘written in stone’

By Karen Freifeld NEW YORK (Reuters) – A New York judge on Tuesday rejected former U.S. President Donald Trump’s bid to delay the scheduled Oct. 2 trial in state Attorney General Letitia James’ civil fraud lawsuit, calling the date “written in stone.” Justice Arthur Engoron in Supreme Court in Manhattan agreed to requests by Trump …

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Marketmind: Hoping Powell sheds light in fog of uncertainty

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. 25, no change, or maybe 50? Every Fed meeting is the most important since the one before, but rarely in recent memory has a decision – and guidance – been more in the balance than Wednesday’s. There are …

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Cryptoverse: Bitcoin passes the bank stress test

By Lisa Pauline Mattackal and Medha Singh (Reuters) – As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession. Bitcoin has risen 21% this …

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US Senate Banking Committee to hold hearings on Silicon Valley Bank collapse

By Moira Warburton WASHINGTON (Reuters) – The U.S. Senate Banking Committee will hold the first of several hearings on the collapse of Silicon Valley Bank and Signature Bank on March 28, Democratic Chairman Sherrod Brown said on Tuesday. The first hearing will hear from witnesses including Federal Deposit Insurance Corporation Chair Martin Gruenberg, Federal Reserve …

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Americans see Trump investigation as political, but also believable -Reuters/Ipsos

By Jason Lange WASHINGTON (Reuters) – About half of Americans believe a New York investigation into whether Donald Trump paid hush money to a porn star is politically motivated, but a large majority find the allegations believable, a Reuters/Ipsos opinion poll found. The two-day poll, concluded on Tuesday, found 54% of respondents – including 80% …

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Explainer-How does bank deposit insurance work, and who does it cover?

By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. …

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