News
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Discover Financial profit jumps on lower loss provision and higher interest income
April 23 (Reuters) - U.S. credit card issuer Discover Financial DFS.N reported a 30% rise in first-quarter profit on Wednesday, helped by a drop in the company's provision for credit losses and higher interest income. Interest rates on credit card debt are significantly higher than those on mort...Reuters
Wed, Apr 23
US judge questions Trump's motives for curbing union bargaining by federal workers
By Daniel Wiessner April 23 (Reuters) - A federal judge on Wednesday said President Donald Trump appeared to be targeting unions that have challenged his policies in court by stripping hundreds of thousands of federal employees of the ability to collectively bargain over working conditions.Senior...Reuters
Wed, Apr 23
Price hikes, a rush to buy autos, and uncertainty in wake of Trump tariffs -- Fed report
Beige Book paints emerging stagflationary picture, with price hikes and labor market slowingFed Chair Powell says Beige Book critical in shaping own views of economy80 mentions of uncertainty, 107 mentions of tariffs in report April 23 (Reuters) - Prices are rising and economic activity has begun...Reuters
Wed, Apr 23
Fed’s Beige Book: The outlook worsens due to uncertainty spurred by tariffs
Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions, most of which focuses on the economy’s general overview, inflation, and employment.Fxstreet
Wed, Apr 23
Law grad job rates surged to historic highs in 2024, ABA data shows
By Karen Sloan April 23 (Reuters) - The employment rate for law school graduates hit record highs in 2024, according to data released by the American Bar Association on Wednesday, defying predictions that a double-digit enrollment surge would weaken job prospects.Within 10 months of leaving campu...Reuters
Wed, Apr 23
US economic activity steady in recent weeks, but uncertainty pervasive, Fed says
April 23 (Reuters) - U.S. prices are up and economic activity and employment have changed little since March across most of the nation, the Federal Reserve said on Wednesday in a report that captures some of the early fallout from U.S. President Donald Trump's erratic rollout of sweeping tariff...Reuters
Wed, Apr 23
ECB's Lagarde: U.S. tariffs could have a disinflationary impact in Europe
April 23 (Reuters) - European Central Bank President Christine Lagarde said on Wednesday U.S. tariffs could have a disinflationary impact in Europe if there are no European countermeasures but they prompt China to reroute exports to the region.U.S. President Donald Trump ratcheted up tariffs on Chin...Reuters
Wed, Apr 23
Citadel's Griffin says Trump needs to be careful about Treasuries' brand
By Carolina Mandl NEW YORK, April 23 (Reuters) - Citadel's founder and CEO Kenneth Griffin said on Wednesday that U.S. President Donald Trump's administration needs to be careful about potential damage to the creditworthiness of U.S. Treasuries."We put that brand at risk," he said...Reuters
Wed, Apr 23
Euro zone yields up as trade war fears recede, ECB rate cut bets lowered
Bond yields rise on expectations for lower US-China tariffsTraders scale back bets on ECB rate cutsPMI data suggest no immediate damage to euro area economyFrench yield gap unchanged after Macron floats idea of early electionsBy Stefano Rebaudo and Lucy Raitano April 23 (Reuters) - Euro area gove...Reuters
Wed, Apr 23
EU's Dombrovskis says EU prefers negotiated solution on trade with US
By Andrea Shalal WASHINGTON, April 23 (Reuters) - The European Union would prefer to reach a negotiated solution with the United States over trade but will respond with countermeasures if discussions do not lead to a solution, European Union Commissioner for the Economy Valdis Dombrovskis said in...Reuters
Wed, Apr 23
Citadel's Griffin says Trump needs to be careful about treasuries' brand
NEW YORK, April 23 (Reuters) - Citadel's founder and CEO Kenneth Griffin said on Wednesday that U.S. President Donald Trump's administration needs to be careful about potential damages to the credit worthiness of U.S. Treasuries."We put that brand at risk," he said at a conference ho...Reuters
Wed, Apr 23
World Bank cuts Latin American and Caribbean growth view, highlights uncertainties
April 23 (Reuters) - The World Bank on Wednesday cut its 2025 economic growth forecast for Latin America and the Caribbean to 2.1% from its January forecast of 2.5%, saying regional economies must adapt to navigate increasing global uncertainties.The global lender cited a delay in interest rate cuts...Reuters
Wed, Apr 23
US, China tariffs need to fall for trade talks to start, Bessent says
WASHINGTON, April 23 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the U.S. and China will have to come down before trade negotiations can proceed.Bessent told reporters on the sidelines of International Monetary Fund and W...Reuters
Wed, Apr 23
Treasury's Bessent has no stand on whether Trump could fire Fed's Powell
April 23 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday said he has no stand on whether President Donald Trump has the legal authority to fire Federal Reserve Chair Jerome Powell, adding that Trump's mention last week of Powell's "termination" may have been referring ...Reuters
Wed, Apr 23
US crude stockpiles post surprise build as imports jump, EIA says
By Stephanie KellyNEW YORK, April 23 (Reuters) - U.S. crude oil stockpiles rose unexpectedly last week as imports jumped, while both gasoline and distillate inventories fell more than expected, the Energy Information Administration said on Wednesday.Crude inventories rose by 244,000 barrels to 443.1...Reuters
Wed, Apr 23
US tariffs could shave up to half a percentage point off India GDP, says finance secretary
WASHINGTON, April 23 (Reuters) - The direct hit from tariffs introduced by Donald Trump's administration on India could shave off between 0.2-0.5 percentage points from GDP growth, the country's Finance Secretary Ajay Seth said on Wednesday. "Now there is a sign of that...we grow about 6...Reuters
Wed, Apr 23
