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Wall Street climbs as strong earnings offset slowdown worries, Fed meeting in focus

By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – U.S. stock indexes advanced on Friday after strong earnings updates from Exxon and Intel offset worries over Amazon’s slowdown warning, while economic data reinforced expectations that the Federal Reserve would hike interest rates next week. Exxon Mobil Corp shares finished up 1.3% after hitting an …

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US regulators vow to sharpen oversight as SVB, Signature aftershocks reverberate

By Ann Saphir, Hannah Lang and Chris Prentice (Reuters) – U.S. regulators on Friday put large banks on notice that tougher oversight is coming, after the Federal Reserve and Federal Deposit Insurance Corporation detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March. Though the banking …

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Rare manuscript that paved way for British monarchy’s return up for auction

LONDON (Reuters) – A rare 17th-century manuscript, which was key to the restoration of the British monarchy under King Charles II a decade after the execution of his father, will be auctioned next month, coinciding with the coronation of his current namesake. The Declaration of Breda was issued by Charles II from the Netherlands in …

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U.S. senator introduces bill targeting AI’s shortfalls

WASHINGTON (Reuters) – Senator Michael Bennet introduced a bill on Thursday that would create a task force to look at U.S. policies on artificial intelligence, and identify how best to reduce threats to privacy, civil liberties and due process. The popular use of ChatGPT and other AI, which have been used for years to create …

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Wall St ends higher, posts weekly, monthly gains on solid earnings, Fed pause hopes

By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied to a higher close on Friday and benchmark Treasury yields dipped at the end of a week marked by strong earnings, wrapping up a solid month with data confirming inflation is cooling, which could allow the Federal Reserve to pause after next week’s expected rate …

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US House votes to repeal Biden solar tariff waiver

By Nichola Groom and Katharine Jackson (Reuters) -The U.S. House of Representatives on Friday voted to repeal President Joe Biden’s suspension of tariffs on solar panels from four Southeast Asian nations, a move aimed at supporting a domestic supply chain but that solar project builders say would stall clean energy development. The resolution passed in …

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Trudeau points to ‘slave labor’ in China lithium production

By Doina Chiacu WASHINGTON (Reuters) -Canadian Prime Minister Justin Trudeau on Friday linked the production of lithium in China to “slave labor” as he discussed his own country’s efforts to ramp up production of the metal used in electric vehicle and other batteries. Canada has significant sources of lithium, Trudeau said, but China has made …

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US dollar firms as inflation data backs Fed hike; yen plunges

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar rose on Friday after data showed inflation grew in March, though at a slower pace, keeping the Federal Reserve still firmly on track to raise interest rates at next week’s monetary policy meeting. The yen, meanwhile, fell across the board, after the Bank of Japan …

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Crude prices up over 2% on rising U.S. oil demand and lower output

By Scott DiSavino NEW YORK (Reuters) -Oil prices mostly rose over 2% on Friday after energy firms posted positive earnings and U.S. data showed crude output was declining while fuel demand was growing. On its last day as the front-month, Brent futures for June delivery rose $1.17, or 1.5%, to settle at $79.54 a barrel, …

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Michael Cohen seeks damages from Trump, U.S. over prison return

By Karen Freifeld (Reuters) – Michael Cohen on Monday asked a U.S. appeals court to revive his lawsuit against Donald Trump and other government officials, seeking damages for sending him back to prison in retaliation for publishing a tell-all memoir criticizing the former U.S. president. Lawyers for Cohen said in a filing with the 2nd …

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