Author: IA PressRoom

Some US banks are preparing to sell off property loans at a discount even when borrowers are up to date on repayments, following multiple warnings that the asset class is the “next shoe to drop” after the recent turmoil in the US regional banking industry.HSBC USA is in the process of selling off hundreds of millions of dollars of commercial real estate loans, potentially at a discount, as part of an effort to wind down direct lending to US property developers, according to three people familiar with the matter.Meanwhile, PacWest last month sold $2.6bn of construction loans at a loss.…

© Reuters. FILE PHOTO: Turkish Lira and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – slid almost 1% on Monday in thin trading during the Asian day to weaken past 21 per dollar, in a shaky initial reaction to the appointment of highly-regarded Mehmet Simsek as finance minister. The lira hit 21.1 to the dollar, not far above a record low of 21.8 made last week. Simsek, 56, won markets’ confidence during terms as finance minister and deputy prime minister between 2009 and 2018. He said on Sunday the country has…

© Reuters. FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo (Reuters) – U.S. regulators are preparing to force large banks to shore up their financial footing, the Wall Street Journal reported on Monday, to help boost the resilience of the system after a spate of midsize bank failures this year. The changes, which regulators are on track to propose as early as this month, could raise overall capital requirements by roughly 20% at larger banks on average, the report said, citing people familiar with the matter.

CNN  —  Democratic Rep. Jamie Raskin of Maryland said Sunday that he is “seriously considering” a bid for Senate and expects to announce a decision before July 4. “I have not decided,” Raskin told CNN’s Dana Bash on “State of the Union” when asked if he would seek the seat of retiring Democratic Sen. Ben Cardin. “I love the House of Representatives, I love the people I serve with, and I love being in the People’s House. But, as some of my House colleagues have pointed out, these Senate seats only open up every 25 or 30 years. A lot…

GitLab Q1 2024 Earnings Preview

Ex-wrestler Stan Lane has proven via DNA tests that he isn’t Lauren Boebert’s father.  Lane said his reputation was “tarnished considerably” when Boebert’s mother made the claim in the 1980s. He now hopes Boebert “finds the answers she has been looking for” in her search for her real dad.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A former ex-wrestler thought to be Rep. Lauren Boebert’s father said that being linked to her caused his “otherwise good reputation” to be tarnished “considerably.”Boebert’s mother Shawn…

© Reuters. Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud arrives for an OPEC meeting in Vienna, Austria, June 3, 2023. REUTERS/Leonhard Foeger By Florence Tan SINGAPORE (Reuters) – A global shortfall in supply is set to deepen in the third quarter as the world’s top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push towards $100 a barrel by the end of the year, analysts said. Oil prices jumped more than $1 a barrel on Monday as the Saudi energy ministry said on Sunday its output would drop to 9 million…

© Reuters Investing.com– Most Asian currencies retreated on Monday, while the dollar traded near two-month highs amid uncertainty over whether the Federal Reserve would hike interest rates in June, with focus now turning to central bank meetings in India and Australia this week.   The dollar advanced in Asian trade, with the and adding about 0.1% each. Both instruments were also close to two-month highs as data on Friday showed jumped far more than expected in May, pointing to a robust U.S. labor market. The reading, coupled with stronger-than-expected print on the Fed’s earlier in May, presented a hawkish outlook for…

Ellen Wynn McBrayer’s grandparents and parents ran a funeral home, but she had no plans to enter the family business. She went to college to major in marketing and intended to work someday for the Atlanta Hawks basketball team.  It wasn’t until her father died on her parents’ 30th wedding anniversary that she found her true calling: to become a licensed funeral director and embalmer and join the family business in Georgia.  She went back to her college and created a funeral internship program for herself so she could return home and learn everything she could about the family funeral…

© Reuters. FILE PHOTO: A man eats under menu pictures with prices, at a restaurant in a market, in Tokyo, Japan March 3, 2023. REUTERS/Androniki Christodoulou TOKYO (Reuters) – Japan’s service sector activity expanded at a record pace in May, a private-sector survey showed on Monday, thanks to a recovery in overseas demand and a surge of foreign tourists as pandemic restrictions were eased further. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to a seasonally adjusted 55.9 last month from the previous peak of 55.4 in April. That compared with the flash reading of 56.3…