Town Hall News

(Reuters) – A look at the day ahead in U.S. and global markets from Amanda Cooper. Just when you thought it was safe to go back into the banking system, First Republic Bank has folded and U.S. regulators have agreed to sell its assets to JPMorgan. JPMorgan was one of a number of interested buyers for First Republic, which has been on the brink of collapse since early March when […]

AMSTERDAM (Reuters) – Employees of the largest labour union in the Netherlands, FNV, on Monday said they will go on strike to force the union itself to pay them higher wages. The union workers said their employer had missed a May 1, International Workers’ Day, ultimatum to increase its wage offer for the coming years. They said this would result in a general strike by FNV staff on Tuesday, with […]

By Alex Lawler LONDON (Reuters) -Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from new OPEC+ supply cuts taking effect this month. The Fed, which meets on May 2-3, is expected to increase interest rates by another 25 basis points. The U.S. dollar rose against a basket of currencies on Monday, making […]

AMSTERDAM (Reuters) – Employees of the largest labour union in the Netherlands, FNV, on Monday said they will go on strike to force the union itself to pay them higher wages. The union workers said their employer had missed a May 1, International Workers’ Day, ultimatum to increase its wage offer for the coming years. They said this would result in a general strike by FNV staff on Tuesday, with […]

By Jack Queen (Reuters) -A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender’s executives for allegedly hiding risks that led to its stunning downfall, legal experts said. The Fed took its own share of the blame for SVB’s sudden collapse in March but also concluded that “foundational and widespread managerial weaknesses” at the bank […]

By Richard Lough and Matthieu Protard PARIS (Reuters) – French President Emmanuel Macron faced nationwide protests on Labour Day on Monday as he struggles to turn the page on a deeply unpopular increase in the retirement age that has unleashed a wave of social unrest. Macron’s popularity has plunged to near record lows hit during the “Yellow Vest” crisis after he stared down trade unions and multi-sector strikes and lifted […]

By Andrea Shalal WASHINGTON (Reuters) – The World Bank will announce on Monday a new methodology for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel the “Doing Business” rankings two years ago. The bank said a pilot edition of the new replacement annual series called “Business Ready” would be published in the spring of 2024, […]

By Jonathan Stempel NEW YORK (Reuters) -Energizer Holdings Inc and Walmart Inc have been sued by consumers and retailers in three proposed class actions accusing them of conspiring to raise the prices of disposable batteries. According to complaints filed on Friday, Energizer agreed “under pressure from Walmart” to inflate wholesale battery prices for other retailers starting around January 2018, and require those retailers not to undercut Walmart on price. Walmart […]

(Reuters) -United States regulators said on Monday First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co, in what is the third major U.S. institution to fail in two months. The banking giant will take $173 billion of loans and about $30 billion of securities of First Republic Bank including $92 billion of deposits, JPMorgan said in a statement. It is […]