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☆ Oil on pace for monthly gain as OPEC+ expected to extend production cuts
▼ + stars: | 2024-02-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Crude oil futures are headed for a second consecutive monthly gain as OPEC+ is expected to extend its production cuts through at least the second quarter. U.S. and Brent have gained about 6% month to date with first month contracts trading at a premium to later months. OPEC+ is considering extending its production cuts through at least the second quarter, three sources told Reuters Wednesday. The cartel could keep the cuts in place for the rest of the year, two of the sources said.

Persons: Brent Organizations: Organization of, Petroleum, West Texas Intermediate, Reuters Locations: Algiers, Algeria, OPEC, U.S, Canada, Guyana, Brazil, Israel, Lebanon, Red, Iran

☆ White House asking Congress for $6 bln to extend internet subsidy program -official
▼ + stars: | 2023-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The White House says the program, overseen by the Federal Communications Commission and known as the Affordable Connectivity Program, helps current users save over $500 million per month on their internet bills. The $6 billion in additional government funding would extend the program through December 2024, the official said. "Congress should act swiftly to fund the Affordable Connectivity Program and prevent more than 21 million households from losing access to affordable, high-speed internet," said White House National Economic Council director Lael Brainard in a statement to Reuters. Internet service providers say there are about 27 million additional U.S. households that are eligible but are not yet enrolled. Verizon (VZ.N), Comcast (CMCSA.O) and AT&T (T.N) have all called for Congress to extend the program that could run out of money by March.

Persons: Mike Segar, Lael Brainard, David Shepardson Organizations: Sabey Data, REUTERS, Rights, Reuters Wednesday, Federal Communications Commission, Program, White, National Economic, Verizon, Comcast, Thomson Locations: Intergate.Manhattan, Manhattan, New York

☆ JPMorgan names new data chief, head of securities services
▼ + stars: | 2023-06-21 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

Tim Fitzgerald will succeed Heitsenrether as global head of securities services, according to another memo. Since Heitsenrether took over securities services in 2015, the division's revenue has risen by more than 22%, while assets under custody grew by almost $9 trillion, according to the memo announcing her new position. Fitzgerald, based in Dublin, was promoted in 2021 to global head of custody and fund services after joining the lender in 2016. He will report to Marc Badrichani and Troy Rohrbaugh under a newly merged division overseeing markets, sales, research and securities services. Badrichani runs global sales and research at the bank, while Rohrbaugh leads its trading arm.

Persons: Teresa Heitsenrether, Tim Fitzgerald, Heitsenrether, Fitzgerald, Marc Badrichani, Troy Rohrbaugh, Rohrbaugh, Nupur Anand, Lananh Nguyen, Mark Porter, Jonathan Oatis Organizations: YORK, JPMorgan Chase &, Reuters Wednesday, Bloomberg, Thomson Locations: U.S, Dublin

CompaniesCompanies Law Firms Dominion Voting Systems Corp FollowFox Corp FollowApril 19 (Reuters) - Dominion Voting Systems' defamation lawsuit against Fox (FOXA.O), which resulted in Tuesday’s $787.5 million settlement, is part of a broader legal campaign by the company to seek accountability from companies and individuals whom it claims have spread falsehoods about its technology. The company said it stands by its coverage and will "vigorously defend" itself against Dominion's claims. TRUMP LAWYERS AND PATRICK BRYNEAlso in August 2021, Dominion sued Patrick Byrne, the former chief executive of online retailer Overstock.com Inc, saying he too spread conspiracy theories about the company's technology. Dominion also has lawsuits pending against former Trump lawyers, Sidney Powell and Rudy Giuliani, over the vote rigging claims. Each suit against the lawyers seeks at least $1.3 billion in damages.

Commuters cycle past a Credit Suisse Group AG bank branch in Basel, Switzerland, on Tuesday, Oct. 25, 2022. Credit Suisse will present its third quarter earnings and strategy review on Oct. 27. Shares of Credit Suisse on Wednesday hit another all-time low for a second consecutive day, dropping by more than 24% at one point during the session. Credit Suisse's largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report, sparking the latest leg lower. It's a regulatory issue," Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday. However, he added that the SNB is happy with Credit Suisse's transformation plan and suggested the bank was unlikely to need extra money.

☆ Biden border speech may extend 'Title 42' to Cuba, Haiti migrants
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

The announcement could come in a border security speech from President Joe Biden on Thursday, but the Democratic president could also announce new, higher quotas for migrants from these countries, sources said. Biden plans to give a border security-themed speech on Thursday morning, and intends to visit the U.S.-Mexico border next week for the first time since he became president two years ago. In the speech, he may announce the United States will apply "Title 42", implemented under Republican former President Donald Trump in March 2020, to Cuba, Haiti and Nicaragua. Title 42 currently gives border officials the ability to rapidly expel migrants from Mexico, Venezuela and some Central American countries to Mexico without a chance of seeking U.S. asylum. However, the United States plans to accept up to 30,000 migrants per month from Cuba, Nicaragua, Haiti and Venezuela, U.S. and Mexican officials told Reuters Wednesday.

☆ Credito Real in talks with bondholders as bankruptcy ruling looms
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 15 (Reuters) - Troubled Mexican non-bank lender Credito Real (CREAL.MX) is in talks with foreign bondholders, prompting creditors to delay their request for an involuntary U.S. bankruptcy hearing, according to two sources close to the matter. Credito Real collapsed after it defaulted on a 170 million Swiss franc ($176 million) bond in February, prompting bonds to shed 99% of their value. The person added that while the talks did not constitute negotiations yet, there was chance they could develop into them. Credito Real, which offered payroll lending and unsecured credit, did not respond to Reuters' request for comment. The default by Credito Real, along with AlphaCredit and Unifin (UNIFINA.MX), have made banks less willing to finance non-bank lenders, analysts say, prompting fears about the non-bank sector in Mexico.

☆ Is Twitter ready for the midterms?
▼ + stars: | 2022-08-26 | by ( Clare Duffy | ) edition.cnn.com time to read: +16 min

The disclosure alleges that Twitter is rife with security and privacy vulnerabilities that put users, investors and even US national security at risk, and that Twitter executives have misled its board and regulators about its shortcomings. Members of the US House Committee on Homeland Security on Thursday sent Twitter CEO Parag Agrawal a letter demanding that he address Zatko’s allegations and explain Twitter’s readiness for the 2022 midterms. In 2020, hackers tricked Twitter employees into handing over internal access that allowed them to take over the accounts of prominent figures such as former President Barack Obama and then-Presidential candidate Joe Biden. “Twitter employees were repeatedly found to be intentionally installing spyware on their work computers at the request of external organizations,” the disclosure states. Twitter’s employees use devices overseen by other IT and security teams with the power to prevent a device from connecting to sensitive internal systems if it is running outdated software, Twitter added.

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