Town Hall News

WASHINGTON (Reuters) – The U.S. Transportation Department on Friday denied an exemption request by JetBlue and Spirit to operate under common ownership, citing the Department of Justice’s (DOJ) antitrust lawsuit filed earlier this month seeking to block the deal. The Transportation Department said a denial was warranted in light of a White House executive order that it “coordinate competition efforts, DOJ’s conclusion that the proposed merger would have anti-competitive effects, […]

By Doina Chiacu and Richard Cowan WASHINGTON (Reuters) -Partisan sniping over raising U.S. borrowing authority ratcheted up on Friday when House of Representatives Speaker Kevin McCarthy accused President Joe Biden of ignoring the issue, even as Republicans have failed to detail budget cuts they want before allowing a debt limit increase. At a news conference in the U.S. Capitol, the Republican speaker attacked the Democratic president for not holding negotiating […]

OTTAWA (Reuters) – The United States and Canada must together build a North American market on everything from semiconductors to solar panel batteries, in the face of growing competition, including from an “increasingly assertive China,” Prime Minister Justin Trudeau said on Friday. Trudeau, speaking in the Canadian parliament ahead of a speech by U.S. President Joe Biden, also expressed unity in supporting Ukraine and said the two allies must continue […]

By Michael S. Derby NEW YORK (Reuters) – An executive who also serves on the board overseeing the New York Federal Reserve warned on Twitter Friday of potentially systemic problems in the real estate finance market and called on the industry to work with authorities to avoid things getting out of hand. Noting there is $1.5 trillion in commercial real estate debt set to mature in the next three years, […]

By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Friday dismissed a former Barclays Plc trader’s whistleblower lawsuit accusing the British bank of firing him after he complained it ignored basic risk management and violated its own policies for detecting rogue trading. U.S. District Judge Paul Oetken in Manhattan said Brian La Belle, who had been Barclays’ head of commercial real estate trading, could not sue under the federal […]

By Valentina Za and Francesco Canepa MILAN (Reuters) -UniCredit is leaning towards repaying a perpetual bond at the earliest opportunity in June, a source close to the matter told Reuters, a move that would show it has ample capital and help keep funding costs in check as markets reel from a crisis of confidence. UniCredit put in a request in recent weeks with European Central Bank supervisors to repay a […]

(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations organization, the source told Reuters. “As our business and client needs grow and evolve, our […]

By Julien Pretot SAINT OUEN, France (Reuters) – The construction of the Olympic athletes village is on time and on budget as organisers promise to deliver a safe Games, the general director of Paris 2024 said on Friday. “Most of my colleagues in the past were stressed about the delivery of the infrastructures. I must say I’m not on that side with Paris 2024. I’m very cool and serene, we […]

(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations organization, the source told Reuters. “As our business and client needs grow and evolve, our […]