MEXICO CITY (Reuters) – Mexican central bank deputy governor Jonathan Heath warned in an interview published on Wednesday that a recent rise in headline inflation could hit other prices, while cautioning that he viewed the monetary authority’s recent rate cut as premature. Heath, in an interview with local outlet El Universal, said he thought “it […]
Customers Bancorp hit with Fed action for risk management deficiencies
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced Thursday it had imposed an enforcement action against Customers Bancorp for “significant deficiencies” around the bank’s risk management and anti money-laundering practices. The bank’s stock fell sharply after the Fed announced the action, falling over 20% in midday trading. The enforcement action against the […]
U.S. regulators fine Piper Sandler $16 million for record-keeping failures
(Reuters) – Piper Sandler has agreed to pay a total of $16 million as a civil penalty to U.S. regulators to resolve investigations into its record-keeping practices, the investment banking firm said on Tuesday. The firm will pay $14 million to the U.S. Securities and Exchange Commission (SEC) and $2 million to the Commodity Futures […]
Equities sell off, Nasdaq on track for correction, bond yields sink
NEW YORK (Reuters) -Global equities sold off on Friday and U.S. Treasury yields were at multi-month lows on concerns about the economy and downbeat forecasts from Amazon and Intel, which hit richly-valued technology firms. The Nasdaq Composite index was recently down 2.3%, putting it on track to confirm it is in a correction following worries […]
IMF, Ethiopia reach deal for $3.4 billion in financing
WASHINGTON (Reuters) – Ethiopia has secured an agreement with the International Monetary Fund for a new financing program worth $3.4 billion, the IMF said on Monday. Ethiopia’s central bank floated the country’s birr currency on Monday, a key step to secure IMF support, and to make progress on a long-delayed debt restructuring. The Horn-of-Africa nation, […]
Yellen says G7 can reach deal on $50 billion Ukraine loan by October
By David Lawder RIO DE JANEIRO (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Friday that “things look good” for Group of Seven wealthy democracies to agree the terms of a $50 billion loan to Ukraine backed by Russian assets by October. Yellen said in an interview on the sidelines of a G20 […]
New British government proposes planning overhaul to boost growth
LONDON (Reuters) – The new British government on Wednesday said that the delivery process for critical infrastructure would be streamlined and more power given to local leaders under a proposed planning overhaul aimed at unlocking growth. New Prime Minister Keir Starmer has made boosting Britain’s anaemic growth one of the government’s core aims since winning […]
Take Five: Cancel Summer?
LONDON (Reuters) – Pressure on Joe Biden to step out of the U.S. presidential election race, mounting expectations of a September Fed rate cut, Q2 earnings, an ECB meeting and Britain’s king unveiling the legislative programme of the new Labour Government. Don’t race off for that summer break just yet. Here’s what to expect in […]
European shares rise on real estate boost, Kongsberg shines
By Shubham Batra and Shristi Achar A (Reuters) – European shares advanced on Wednesday amid broad-based gains and upbeat corporate updates while investors digested more comments from U.S. Federal Reserve Chair Jerome Powell’s second day of testimony. The pan-European STOXX 600 gained 0.9%, buoyed by a 2.1% rise in real estate shares. French stocks were […]
Egypt economy seen growing slower after IMF deal before picking up- Reuters poll
By Patrick Werr CAIRO (Reuters) – Egypt’s economy will grow slower than previously expected this year after it signed an $8 billion financial support package with the IMF that came with conditions, but growth will accelerate next year, a Reuters poll forecast on Tuesday. Egypt has also been clobbered by the Gaza crisis, which caused […]