First Republic Bank Drops after Expected Quarter Point Fed Hike Bank Stocks Fall
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China’s biggest banks launch first sales of special loss-absorbing debt
TLAC bonds are part of push from international regulators to shore up balance sheetsFinancial Times - Business - China -
Deutsche Telekom Backs Guidance After Strong First Quarter
Deutsche Telekom maintained its full-year guidance after it reported profits and core earnings for the first quarter above consensus, boosted by growth in core markets.The Wall Street Journal - World -
US Treasury threatens Austria’s Raiffeisen Bank over Russia unit
Bank ditched asset-swap plan connected to oligarch Oleg Deripaska after letter warning of potential secondary sanctionsFinancial Times - Business - Russia -
Soros Fund Management dumps New York Community Bank stake
Soros Fund Management eliminated its stake in New York Community Bank, a regulatory filing shows.MarketWatch - Business - New York -
Democrats Batter Bank Regulator Over F.D.I.C.’s ‘Toxic’ Workplace Culture
The agency’s chair, Martin Gruenberg, has resisted Republicans’ calls to resign, but criticism by his own party raises questions about how long he can hang on.The New York Times - Business -
USD/SGD Falls, Dragged by Fed Rate-Cut Bets
USD/SGD fell during the Asian session, dragged by bets for Fed rate cuts.The Wall Street Journal - World - Federal Reserve -
Japan’s economy contracts in first quarter as consumer spending lags
Weak yen puts pressure on household expenses and complicates central bank’s plan to raise interest ratesFinancial Times - Business - Japan -
Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years
Cisco reported a 13% drop in revenue for the fiscal third quarter, the steepest decline since 2009. But results still topped estimates.CNBC - Business -
Here are some of the tech stocks Daniel Loeb’s Third Point hedge fund has snapped up
Daniel Loeb’s Third Point hedge fund has gone deeper into stocks of major tech companies, a filing with the Securities and Exchange Commission showed late Wednesday.MarketWatch - Business -
Overdose Deaths Dropped in U.S. in 2023 for First Time in Five Years
Preliminary numbers show a nearly 4 percent decrease in deaths from opioids, largely fentanyl, but a rise in deaths from meth and cocaine.The New York Times - Health -
Dodgers don't go with bullpen game after all but still fall to Giants and Logan Webb
The Giants avoid a three-game sweep by the Dodgers behind a scoreless six-inning gem from ace Logan Webb.Yahoo Sports - Sports - MLB -
Australian Unemployment Rises, Easing Pressure on RBA to Hike
Unemployment in Australia jumped in April as more people searched for work, a rise that is likely to reduce pressure on the Reserve Bank of Australia to raise interest rates further.The Wall Street Journal - World -
GameStop, AMC tumble as meme stock rally fizzles after just two days
GameStop and AMC shares fell as the meme stock trading frenzy showed signs of fizzling early on its third day.CNBC - Business -
Inflation Rises, but Key CPI Index Climbs Less Than Expected
The Consumer Price Index, which measures changes in the costs of household goods, rose 0.3 percent in April, a slight drop from the month before, potentially helping the case for the Fed to cut interest rates this year.Inc. - Business - Inflation -
Rep. Raskin points out Rep. Bishop’s error in Thomas Jefferson reference
Rep. Jamie Raskin pointed out Rep. Dan Bishop’s error in referencing Thomas Jefferson and the Constitution during an exchange on the House floor. The moment happened during a debate about changing D.C. criminal sentencing codes.NBC News - Politics -
Oil Rises, Buoyed by Second Straight Weekly Fall in U.S. Inventories
Oil gained in early Asian trade, buoyed by a second straight weekly decline in U.S. inventories.The Wall Street Journal - World -
Slovakia Has Charted Its Own Course Since the Fall of the Soviet Union
Slovakia is one of two nations born out of the former Czechoslovakia, a multiethnic nation established at the end of World War I.The New York Times - Top stories -
Stocks set new records
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story New inflation data sends stocks soaring All three of the major U.S. stock indexes closed at record highs Wednesday after new federal ...The Hill - Politics - Stock Market -
Meme Stocks Are Back, to Mixed Reactions
Online investors have embraced unlikely companies and ridden the dizzying highs and crashing lows of their share prices.Inc. - Business -
Gold Edges Higher, Supported by Fed Rate-Cut Bets
Gold edged higher in the early Asian session, supported by bets for Fed rate cuts which would enhance the appeal of the non-interest-bearing precious metal.The Wall Street Journal - World - Federal Reserve -
House GOP’s top-line figure for 2025 government funding to drop this week
Rep. Tom Cole (R-Okla.), chair of the House Appropriations Committee, said Wednesday that House Republicans will release their proposed top-line number for government funding for most of 2025 later this week. Cole said Wednesday afternoon that ...The Hill - Politics -
Conservative outside group drops $70M on Senate Democrats in battlegrounds
Politico - Politics -
Prosecutors paint Menendez as putting 'greed first'
NEW YORK — Prosecutors made no qualms Wednesday painting Sen. Bob Menendez (D-N.J.) as a politically powerful but corrupt lawmaker who accepted gold bars, envelopes of cash and a luxury car in exchange for his influence, where they maintained he ...The Hill - Politics -
New Zealand Shares Jump 1.75% in Largest Gain Since November
New Zealand’s NZX-50 closed 1.75% higher at 11728.06, snapping a run of three losses with its largest one-day rise since early November.The Wall Street Journal - World - New Zealand -
Joan Vassos Is Announced as First ‘Golden Bachelorette’
ABC introduced a new season of the spinoff, after the ratings success of “The Golden Bachelor.”The New York Times - Lifestyle -
Chargers drop another creative schedule release video, with a dig at Harrison Butker's commencement address
The Chargers once again pulled no punches with their schedule release video.Yahoo Sports - Sports -
Cramer says an 'outrageously bullish' combination of stocks is leading the bull market
CNBC's Jim Cramer noted that industrial, utility and tech stocks are going up at the same time.CNBC - Business -
US stocks close at record high on slower pace of inflation
Investors increase bets on Fed’s interest rate cuts this year as price growth moderatesFinancial Times - Business -
Warren Buffett’s Berkshire Hathaway reveals Chubb as ‘mystery stock’ purchase
Berkshire Hathaway revealed in a filing that it had accumulated nearly 26 million shares of insurer Chubb Ltd. as of the end of the first quarter.MarketWatch - Business -
Cisco’s stock rises as demand stabilizes and revenue outlook impresses
“Customers are consuming the equipment shipped over the last few quarters in line with our expectations,” Cisco’s CFO said.MarketWatch - Business -
Germany enters top 10 in European queer rights ranking, Malta first
Yahoo News - World -
First impressions of Joe Milton's ‘cannon' arm at Patriots minicamp
Tom E. Curran knew Joe Milton had a strong arm, but he still left Patriots rookie minicamp blown away by the rookie quarterback's throwing ability.Yahoo Sports - Sports -
Keir Starmer unveils six election ‘first steps’ for a Labour government
Opposition leader to set out ‘downpayment on change’ with policies focused on economic stability and border controlFinancial Times - World