Regional bank earnings may expose critical weaknesses, former FDIC Chair Sheila Bair warns
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Senate Banking chief calls on Biden to replace FDIC chair after sexual harassment probe
Senate Banking Committee Chair Sherrod Brown (D-Ohio) called on President Biden on Monday to replace the chair of the Federal Deposit Insurance Corporation (FDIC) in the wake of reports of a toxic workplace environment at the agency. Brown is the ...The Hill - Politics - Joe Biden -
FDIC Chair Martin Gruenberg to resign as pressure mounts
Federal Deposit Insurance Corp. Chair Martin Gruenberg says he will resign once the banking regulator finds a successor.MarketWatch - Business -
FDIC chair to quit following workplace harassment probe
Chief of US banking regulator says he will leave post as soon as successor is confirmedFinancial Times - Business -
FDIC Chair Martin Gruenberg to resign after damning workplace harassment probe
A recent report detailing a toxic culture at the FDIC described Chair Martin Gruenberg as having a "temper" and a "short fuse."CNBC - Business -
FDIC chair says he'll resign once successor is confirmed
Federal Deposit Insurance Corp. (FDIC) Chair Martin Gruenberg announced Monday he will resign once his successor is confirmed by the Senate after several reports documented a culture of sexual harassment, misconduct and retaliation at the agency ...The Hill - Politics -
FDIC Chair Martin Gruenberg to resign after damning workplace harassment probe
The chairman of the Federal Deposit Insurance Corporation said he will resign after a probe found a widespread culture of sexual harassment and discrimination at the independent agency.NBC News - Top stories -
Li Auto Shares Shed 19% on Weak Earnings, Tough Outlook
Shares fell sharply in Hong Kong after the Chinese hybrid-vehicle specialist unveiled weaker-than-expected earnings and guidance following a lackluster launch of its first fully-electric model.The Wall Street Journal - World -
Lowe's Earnings Top Forecasts; Big-Ticket Spending Stays Weak
Do-it-yourself customers, who make up about 75% of Lowe’s customer base, cut back on higher-priced discretionary purchases.The Wall Street Journal - World -
Tesla must climb ‘Mount Everest’ to win shareholder vote, chair warns
FT Exclusive: Robyn Denholm outlines stakes for carmaker and says the idea she is too close to Elon Musk is ‘crap’Financial Times - Business - Tesla -
FirstFT: Tesla faces difficult task to win shareholder vote, chair warns
Also in today’s newsletter, the threat to oil from Canadian wildfires and British firm loses $25mn in deepfake scamFinancial Times - World - Tesla -
China sanctions former Rep. Mike Gallagher, a fierce critic of Beijing
China said it has sanctioned former U.S. lawmaker Mike Gallagher in response to his words and actions that “interfered in China’s internal affairs.”NBC News - Top stories - China -
China is a 'critical' global supplier, full decoupling may be impossible, survey shows
Chinese companies are growing more optimistic about a rise in trade exports as firms show no signs of fully decoupling from China, according to Allianz Trade.CNBC - Business - China -
UN suspends Rafah aid distribution and warns US pier may fail
Israel must provide conditions for pier to operate safely, UN warns, as aid deliveries reduced to trickle. The United Nations has suspended food distribution in the southern Gaza city of Rafah due to lack of supplies and insecurity.. It also said ...The Guardian - World - United Nations -
FDIC Chairman Martin Gruenberg bowed to pressure to resign from the bank regulator after an external investigation found widespread sexual harassment at the agency and lawmakers of both parties berated his leadership.
FDIC Chairman Martin Gruenberg bowed to pressure to resign from the bank regulator after an external investigation found widespread sexual harassment at the agency and lawmakers of both parties berated his leadership.The Wall Street Journal - World -
Target’s price cuts imply earnings may be a concern — but UBS says don’t worry
“Our take is that these actions are a sign of strength, not a signal of vulnerability,” a UBS analyst wrote about the retailer’s price cuts.MarketWatch - Business -
Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon
Walmart may just be a pit stop for high-income consumers.CNBC - Business -
Transcript: Former Defense Secretary Robert Gates on "Face the Nation," May 19, 2024
The following is a transcript of an interview with former Defense Secretary Robert Gates that aired on May 19, 2024.CBS News - Top stories -
Ukraine war briefing: Russia’s Kharkiv offensive may only be the ‘first wave’, Zelenskiy warns
Ukrainian president admits his army lacks enough troops and has only 25% of the air defences it needs as Russia advances in the north-east. What we know on day 815. Ukraine’s president, Volodymyr Zelenskiy, has warned that Russia’s offensive in ...The Guardian - World - Ukraine -
Turbulence-related deaths are rare, but climate change is making for bumpier air travel
One passenger died and 30 others were injured aboard a Singapore Airlines flight that was hit by "severe turbulence," officials said Tuesday, but experts say such deaths are rare even as researchers warn climate change may be causing more extreme ...NBC News - Top stories - Climate -
Weakness Invites War With Iran
Biden’s failure to stand with Israel emboldens Tehran in its strategy to dominate the region.The Wall Street Journal - World - Iran -
Apple’s Photo Bug Exposes the Myth of ‘Deleted’
An Apple Photos glitch, now fixed, is a reminder that digital bits of your life will live on forever.Wired - Tech - Apple -
FDIC chief to resign
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story FDIC chief to step aside Martin Gruenberg, the embattled chair of the Federal Deposit Insurance Corporation (FDIC), agree to step ...The Hill - Politics -
FDIC Chairman Martin Gruenberg to Resign
Gruenberg bowed to pressure to resign after an external investigation found widespread sexual harassment at the agency. He plans to stay until a successor is confirmed.The Wall Street Journal - World -
Biden’s Morehouse speech exposes his 2024 political problems
President Biden will set foot on a college campus Sunday for the first time since universities around the country became hotbeds for protests over the Israel-Hamas war. Biden is delivering a commencement speech at Morehouse College, an ...The Hill - Politics - Joe Biden -
Bruins' playoff run exposed huge roster flaw that must be fixed ASAP
The Bruins will have lots of salary cap space in the summer, and they need to use some of it to fix the biggest flaw on their roster.Yahoo Sports - Sports -
Productivity soars in sectors of global economy most exposed to AI, says report
Employers in UK, one of 15 countries studied, willing to pay 14% wage premium for jobs requiring AI skills. The sectors of the global economy most heavily exposed to artificial intelligence (AI) are witnessing a marked productivity increase and ...The Guardian - World -
Activists sue Russia over ‘weak’ climate policy
Russian constitutional court is considering claim, which activists hope will raise awareness about emissions. A group of activists are fighting for the right to scrutinise Russia’s climate policies, and in particular its enormous methane ...The Guardian - World - Climate -
The must-watch softball stars in the NCAA regionals
We broke down stars you need to know as the road to the WCWS begins.ESPN - Sports -
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Naples region rocked by more than 150 quakes
One of the tremors on Monday was the strongest the area has experienced for 40 years.BBC News - Top stories -
The Italian Region of Cilento is Cinematic, Spectacular and Undiscovered
In this less-traveled region of Italy, the scenery is spectacular, the water wine-dark. It has sun and sea, along with important Greek ruins, wild nature, curious legends and medieval religious sanctuaries.The New York Times - Top stories -
Elizabeth Warren Defends Embattled FDIC Chairman
Sen. Warren defended the tenure of beleaguered FDIC Chairman Martin Gruenberg, saying Republicans wanted him to resign to have more control over the regulation of banks.The Wall Street Journal - World -
RedBird Banks $4.7 Billion for Dealmaking
The sports, media and financial services investor collects fresh capital amid a flurry of high-profile deals.The Wall Street Journal - World -
Republican candidate's 'weak and gay' campaign ad sparks comedic pushback
Valentina Gomez, a candidate for Missouri secretary of state, shared a video on social media advising her supporters to stay hard, not "weak and gay."NBC News - Top stories -
GameStop Stock Slides on Plans for Share Sale, Weak Revenue
Shares of the videogame maker declined 25% after it said it plans to sell up to 45 million shares. GameStop has 306 million shares outstanding.The Wall Street Journal - World -
Biden and Trump are both betting on debates to help magnify the other’s weaknesses
Trump will look to again cast Biden as greatly diminished while Biden will aim to remind voters why they rejected Trump in 2020. US politics live – latest updatesSign up for The Stakes, our US elections newsletterIt’s game on for a pair of ...The Guardian - World - Joe Biden -
Japan's Beef With a Weak Yen: The Best Wagyu Is Just for the Tourists
The nation’s pride takes a hit as dollar-wielding visitors enjoy pleasures few locals can afford.The Wall Street Journal - World -
Biden confronts 2024 weak spots with young, Black voters at Morehouse commencement
President Joe Biden's Black voter support has fallen since the 2020 election, while former President Donald Trump's has increased, according to recent polls.CNBC - Business - Joe Biden -
The all-American cheat sheet to Europe’s trade weak spots
Hit ’em in the prawnsFinancial Times - World -