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☆ Fitch says US regional bank challenges to persist in 2024
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 15 (Reuters) - Rating agency Fitch said on Wednesday that U.S. regional banks will face continued challenges in 2024, with those lacking scale or focused on commercial loan growth disproportionately pressured. Fitch said that a delay in meaningful loosening of monetary policy would likely translate into "sustained competition for deposits" and "stubbornly weak loan growth." Large regional banks focused on commercial loan growth saw the weakest credit demand, which in some cases reached double digit declines on an annualized basis, Fitch said. In third quarter earnings, a string of regional banks reported pressure on net interest income (NII), the difference between what banks earn from lending and pay out on deposits, which hit some of their shares.

Persons: Brendan McDermid, Fitch, Bill Gross, Pritam Biswas, Megan Davies, Shounak Dasgupta, Jonathan Oatis, Cynthia Osterman Organizations: Wall, REUTERS, Valley Bank, Federal Reserve, Thomson Locations: New York, U.S, SVB, Bengaluru

That's our goal and we hope to have an agreement very soon," Senate Majority Leader Chuck Schumer, a Democrat, said on the Senate floor. Leaders from both parties have said they support a stopgap spending bill that passed the Republican-controlled House of Representatives by a wide bipartisan margin on Tuesday. 2 Republican, said a vote on the House bill later in the day was possible. More significantly, it would avoid a partial shutdown that would disrupt a wide array of government services and furlough hundreds of thousands of federal workers. Writing by Andy Sullivan; Editing by Scott Malone, Lisa Shumaker and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Wurm, Chuck Schumer, Joe Biden, John Thune, Rand Paul, Mike Johnson, Johnson, Andy Sullivan, Scott Malone, Lisa Shumaker, Jonathan Oatis Organizations: U.S, Capitol, REUTERS, Rights, Democratic, Republican, U.S . Senate, Food and Drug Administration, Thomson Locations: Washington , U.S, U.S, Louisiana

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies PepsiCo Inc FollowNEW YORK, Nov 15 (Reuters) - New York state sued PepsiCo (PEP.O) on Wednesday, accusing the beverage and snack food giant of polluting the environment through its single-use plastic bottles, caps and wrappers. The lawsuit filed in state court in upstate Erie County is among the first by a U.S. state to target a major plastics producer. The lawsuit seeks to force PepsiCo to stop causing a nuisance, clean up contamination, and provide other relief. California in 2022 announced it was conducting an investigation into the fossil fuel and petrochemical industries' role in plastic pollution. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Shannon Stapleton, Letitia James, PepsiCo, James, Jack, Doritos, Jonathan Stempel, Chizu Nomiyama, Jonathan Oatis Organizations: Pepsi, REUTERS, PepsiCo, Gatorade, Lay's, Thomson Locations: New York, U.S, Erie County, Buffalo, Purchase , New York, Fritos, Lipton, Tostitos . Connecticut, Minnesota, . California

REUTERS/Kevin Wurm/File Photo/File Photo Acquire Licensing RightsWASHINGTON, Nov 15 (Reuters) - U.S. Senate Democratic Leader Chuck Schumer said on Wednesday he would try to quickly pass legislation to keep the government funded, preventing a partial shutdown that would otherwise begin this weekend. That's our goal and we hope to have an agreement very soon," Schumer said on the Senate floor. Both chambers of Congress need to pass spending legislation and send it to Democratic President Joe Biden to sign into law before then in order to avoid disruption. Schumer said he will have to work out an agreement with the chamber's top Republican, Mitch McConnell, for a quick vote. Tuesday's House vote was a victory for House Speaker Mike Johnson, who faced down opposition from some of his fellow Republicans who had pushed for deep spending cuts.

Persons: Kevin Wurm, Chuck Schumer, Schumer, Joe Biden, Mitch McConnell, McConnell, Tuesday's, Mike Johnson, Johnson, Andy Sullivan, Scott Malone, Lisa Shumaker, Jonathan Oatis Organizations: U.S, Capitol, REUTERS, Rights, U.S . Senate Democratic, Democratic, Republican, Food and Drug Administration, Thomson Locations: Washington , U.S, Louisiana

☆ China-linked ETFs draw bullish options bets ahead of Biden-Xi meet
▼ + stars: | 2023-11-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Other large China-focused ETFs, including the iShares MSCI China ETF (MCHI.O), KraneShares CSI China Internet ETF (KWEB.P), also showed upbeat options activity, according to Trade Alert data. "It certainly seems that there is generally bullish positioning ahead of the meeting," said Steve Sosnick, chief strategist at Interactive Brokers, noting that the positions had been built up over several days. Reuters GraphicsInvestors' nascent enthusiasm for Chinese stocks is at odds with how these ETF's have performed this year. Daniel Kirsch, head of options at Piper Sandler, said recent bullish options flows into KWEB may be to do with a combination of enthusiasm ahead of the Biden-Xi meeting as well as results from Chinese e-commerce companies JD.com and Alibaba .

Persons: Brendan McDermid, Joe Biden's, Xi Jinping, Steve Sosnick, Biden, Xi, Sosnick, Daniel Kirsch, Piper Sandler, JD.com, Kirsch, Saqib Iqbal Ahmed, Suzanne McGee, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, U.S, iShares, KraneShares CSI China Internet, Interactive, Federal, Economic Cooperation, Reuters Graphics Investors, Research, Biden, Thomson Locations: New York City, U.S, China, KraneShares, San Francisco, Asia

☆ Iran's nuclear enrichment advances as it stonewalls UN, IAEA reports show
▼ + stars: | 2023-11-15 | by ( Francois Murphy | ) www.reuters.com time to read: +4 min

[1/3] The logo of the International Atomic Energy Agency (IAEA) is seen at the organisation's headquarters in Vienna, Austria, June 5, 2023. Iran's stock of uranium enriched to up to 60% grew by 6.7 kg (14.8 pounds) to 128.3 kg (282.9 pounds) since the last report on Sept. 4, one of the two reports to member states seen by Reuters said. Iran has enough uranium enriched to lower levels for more bombs, but it denies seeking such weapons. Since then the IAEA has narrowed the list of sites to two but little other progress has been made. "The (IAEA) Director General (Grossi) continues to strongly condemn Iran's sudden withdrawal of the designations of several experienced Agency inspectors," it added.

Persons: Leonhard Foeger, Rafael Grossi, John Irish, Toby Chopra, Jonathan Oatis Organizations: International Atomic Energy Agency, REUTERS, Companies Iran, IAEA, International Atomic Energy, Reuters, Governors, Iran's, Thomson Locations: Vienna, Austria, Iran, VIENNA, United States, Gaza, Paris

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies PepsiCo Inc FollowNEW YORK, Nov 15 (Reuters) - New York state sued PepsiCo (PEP.O) on Wednesday, accusing the beverage and snack food giant of polluting the environment and endangering public health through its single-use plastic bottles, caps and wrappers. The lawsuit filed in state court in upstate Erie County is among the first by a U.S. state to target a major plastics producer. "All New Yorkers have a basic right to clean water, yet PepsiCo's irresponsible packaging and marketing endanger Buffalo’s water supply, environment, and public health," she said in a statement. The New York lawsuit also said PepsiCo has deceived consumers by announcing various targets to reduce the amount of non-recycled plastic it uses in packaging, although it has actually increased its usage. The lawsuit seeks to force the Purchase, New York-based company to stop causing a nuisance, clean up contamination and pay for damages caused by plastic waste.

Persons: Shannon Stapleton, Letitia James, PepsiCo, James, Jack, Doritos, Judith Enck, Obama, Clark Mindock, Jonathan Stempel, Chizu Nomiyama, Jonathan Oatis, Alexia Garamfalvi Organizations: Pepsi, REUTERS, PepsiCo, The New, Gatorade, Lay's, Plastics, Environmental Protection Agency, Thomson Locations: New York, U.S, Erie County, Buffalo, The New York, , New York, Fritos, Lipton, Connecticut, Minnesota, . California

☆ US FAA okays SpaceX license for second launch of Starship Super Heavy
▼ + stars: | 2023-11-15 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

[1/2] SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket lifts off from the company's Boca Chica launchpad on an uncrewed test flight before exploding, near Brownsville, Texas, U.S. April 20, 2023. REUTERS/Joe Skipper/File Photo Acquire Licensing RightsNov 15 (Reuters) - The U.S. Federal Aviation Administration on Wednesday granted Elon Musk's SpaceX a license to launch the company's second test flight of its next-generation Starship and heavy-lift rocket from Texas, the agency said. The upcoming Starship flight will have the same test objectives as the first attempt. The FAA required SpaceX to make dozens of fixes before allowing another Starship flight. SpaceX determined that an onboard fire prevented Starship - the rocket system's upper stage - from separating from its Super Heavy first stage booster as planned.

Persons: SpaceX's, Joe Skipper, Elon, David Shepardson, Joey Roulette, Jonathan Oatis, Marguerita Choy, David Gregorio Our Organizations: Boca Chica, REUTERS, U.S . Federal Aviation Administration, Wednesday, SpaceX, FAA, NASA, Thomson Locations: Brownsville , Texas, U.S, Texas

☆ China objects to US proposal for APEC trade and investment policies -source
▼ + stars: | 2023-11-15 | by ( David Lawder | ) www.reuters.com time to read: +2 min

[1/2] U.S. Trade Representative Ambassador Katherine Tai speaks during an APEC Ministerial Meeting (AMM) Opening Session in San Francisco, California, U.S., November 15, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 15 (Reuters) - China is objecting to a U.S. proposal for Asia Pacific Economic Cooperation members to incorporate sustainability and inclusivity into their trade and investment policies, a source briefed on the negotiations said on Wednesday. Talks on the issue were continuing at the APEC summit in San Francisco to try to find language that the group's 21 member states could agree on, the source said. U.S. Trade Representative Katherine Tai told a trade-focused plenary meeting she hoped the proposal, dubbed by the Biden administration as the "San Francisco Principles for Integrating Inclusivity and Sustainability into Trade and Investment Policy" could be still be finalized. Nonetheless, I remain optimistic that economies will finalize the San Francisco Principles soon."

Persons: Katherine Tai, Brittany Hosea, Biden, Tai, Joe Biden, Xi Jinping, David Lawder, Jonathan Oatis Organizations: . Trade, REUTERS, FRANCISCO, Asia Pacific Economic Cooperation, APEC, San Francisco, Trade, Investment, European Union, Thomson Locations: San Francisco , California, U.S, China, San Francisco

Cast members Jonny Lee Miller, Dominic West, Elizabeth Debicki, Jonathan Pryce, Imelda Staunton and Lesley Manville attend the premiere for the TV series The Crown Season 5 in London, Britain, November 8, 2022. The two-part sixth, and final, season of “The Crown” explores Princess Diana’s final days before she perishes in a car accident. Debicki believes it’s a common experience for "The Crown" actors to struggle to “let go” and stop “observing” themselves while filming the show. Similarly, Khalid Abdalla - who portrays Dodi Fayed, Egyptian billionaire Mohamed al-Fayed's son, who was in a romantic relationship with Princess Diana - viewed his work with Debicki as a huge responsibility. He went into the final season also thinking about how the loss of Princess Diana is still a “cultural trauma” for “millions of people around the world.”Abdalla said the sacredness of what “The Crown” cast was recreating was something to which he wanted to give dignity.

Persons: Jonny Lee Miller, Dominic West, Elizabeth Debicki, Jonathan Pryce, Imelda Staunton, Lesley Manville, Henry Nicholls, Princess Diana, “, Debicki, Diana’s, Peter Morgan, Queen Elizabeth’s, ” Debicki, Khalid Abdalla, Dodi Fayed, Mohamed al, ”, ” Abdalla, Rollo Ross, Danielle Broadway, Mary Milliken, Jonathan Oatis Organizations: REUTERS, Reuters, Netflix, Debicki, Thomson Locations: London, Britain

☆ US House: Court fights could tip control in 2024
▼ + stars: | 2023-11-14 | by ( Joseph Ax | ) www.reuters.com time to read: +8 min

The state's highest court, the Court of Appeals, will hear arguments this week over whether to order a new map for 2024, as Democrats have asked, or to maintain the current map, as Republicans have argued. The new map was made possible by the state Supreme Court, after two conservative judges won election in 2022. The court's previous Democratic majority had thrown out a Republican map as an illegal gerrymander. UTAH: DEMOCRATS COULD GAIN ONE SEATThe state Supreme Court is weighing whether a Republican-drawn map that divided Democratic-leaning Salt Lake County into four districts violated the state constitution. The Republican state party has appealed.

Persons: Shannon Stapleton, Ron DeSantis, Al Lawson, Steve Jones, Brian Kemp, Jim Cooper, Joseph Ax, Jason Lange, Scott Malone, Jonathan Oatis Organizations: REUTERS, U.S . House, Representatives, Census, Democrats, Democratic, House, SEAT, Republican, Black Democrat, District, Black, U.S, Supreme, NORTH CAROLINA, REPUBLICANS, SOUTH CAROLINA, South, voters, NEW, SEAT Republicans, SEAT Civil, U.S . Department of Justice, Thomson Locations: Queens, New York City, U.S, Alabama, New York, FLORIDA, Florida, Black, GEORGIA, LOUISIANA, ALABAMA, UTAH, Salt Lake County, NEW MEXICO, TENNESSEE, Nashville's, TEXAS

Newly elected Speaker of the House Mike Johnson (R-LA) addresses the U.S. House of Representatives after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - U.S. House of Representatives Speaker Mike Johnson, the highest-ranking Republican in Congress, endorsed Donald Trump for the Republican presidential nomination on Tuesday, an unsurprising move that underlines the grip the former president holds on much of the party's establishment. "I'm all in for President Trump," Johnson said on CNBC. Johnson implied that he had "endorsed" Trump in the past, but it was unclear when he had previously done so. Johnson was elected speaker in October after a small group of Republican lawmakers deposed Kevin McCarthy, the previous speaker.

Persons: Mike Johnson, Elizabeth Frantz, Donald Trump, Trump, Johnson, Kevin McCarthy, Trump's, Democrat Joe Biden, Gram Slattery, Andy Sullivan, Jonathan Oatis Organizations: U.S . House, U.S, Capitol, REUTERS, Rights, . House, Republican, CNBC, Republicans, Democrat, Thomson Locations: Washington , U.S

☆ Trump's second-term agenda: punish enemies, fire government workers
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +5 min

Trump would require every federal employee to pass a new civil service test of his own creation. His team is also vetting scores of potential hires who could be counted on to implement his policies or perhaps investigate Trump’s political enemies. Trump also would seek to bring independent regulatory agencies such as the Federal Communications Commission and the Federal Trade Commission under presidential control. EDUCATIONTrump has pledged to require America’s colleges and universities to “defend American tradition and Western civilization” and purge them of diversity programs. On the K-12 level, Trump would support programs allowing parents to use public funds for private or religious instruction.

Persons: Donald Trump, Ted Hendricks, Octavio Jones, Republican Donald Trump, Trump, AFFAIRS Trump, Israel, James Oliphant, Ted Hesson, Andy Sullivan, Jonathan Oatis Organizations: REUTERS, Rights, Republican, Trump, Federal Communications Commission, Federal Trade Commission, Democrats, Congress, U.S . Constitution, U.S, Supreme, AFFAIRS, Ukraine, Paris Climate Accords, Biden White, Justice Department, Thomson Locations: Hialeah , Florida, U.S, United States, China, Mexico, U.S ., Russia, Europe, Paris

☆ Ukraine says agreed with Britain discounts on insurance for Black Sea exports
▼ + stars: | 2023-11-14 | by ( Pavel Polityuk | ) www.reuters.com time to read: +3 min

Cayman Islands-flagged bulk carrier Puma leaves the sea port of Odesa, amid Russia's attack on Ukraine, in Ukraine September 15, 2023. This will make the Black Sea corridor more accessible to a wider range of exporters," Shmyhal said during the government meeting, video of which was posted on the Telegram messaging platform. Ukraine's government expects a harvest of 79 million tons of grain and oilseeds in 2023, with its 2023/24 exportable surplus totalling about 50 million tons. Ukrainian grain exports have fallen to 9.8 million metric tons as of Nov. 6 in the 2023/24 July-June marketing season from 14.3 million tons a season earlier. Ukraine has traditionally shipped most of its exports through its deep water Black Sea ports.

Persons: Stringer, Denys Shmyhal, Shmyhal, Mykola Solsky, Solsky, Volodymyr Zelenskiy, Pavel Polityuk, Sharon Singleton, Jonathan Oatis Organizations: Puma, REUTERS, Rights, Kyiv, United Nations, Ukrainian, Thomson Locations: Cayman, Odesa, Ukraine, Britain, Russia, Liberia, Ukrainian

Prices of futures contracts that settle to the Fed's target rate were pricing in only about a 5% chance the Fed will raise its policy rate any higher than the current 5.25% to 5.50% range. Core inflation, which excludes energy and food, rose 4%, the slowest pace in more than two years. "You can say goodbye to the rate hiking era," said Brian Jacobsen, chief economist at Annex Wealth Management. The Fed is now seen as more likely than not to deliver its first rate cut in May, and end 2024 with the short-term benchmark rate a full percentage point lower than today, based on rate futures pricing. "The Fed for now will maintain its tightening bias, erring on the side of caution," she wrote.

Persons: Brian Jacobsen, Jerome Powell, aren't, Kathy Bostjancic, Ann Saphir, Lucia Mutikani, Chuck Mikolajczak, Chizu Nomiyama, Jonathan Oatis Organizations: Federal Reserve, Labor Department, Energy, Traders, Annex Wealth Management, Nationwide, Thomson Locations: U.S

REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts. The proposal would overhaul how banks gauge risk and, in turn, how much capital they must hold against potential losses. Regulators say stronger cash cushions will make the financial system safer and are especially crucial after three banks failed earlier this year. As part of their campaign to kill the Basel proposal, banks have been lobbying lawmakers to put pressure on the regulators. On Monday, 39 Senate Republicans stepped up the pressure, asking the regulators to scrap the proposal, citing economic harm.

Persons: Michael Barr, Evelyn Hockstein, Barr, Federal Deposit Insurance Corporation's Martin Gruenberg, Mike Hsu, Mark Warner of Virginia, Jon Tester, Isaac Boltansky, Gruenberg, Michelle Price, Pete Schroeder, Jonathan Oatis Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, Federal Deposit Insurance, Financial, Democrat, Senate, Republicans, Journal, Industrial, Commercial Bank of China, Treasury, Thomson Locations: Washington , U.S, U.S, Basel, Montana

☆ US set to take action to win China's cooperation on fentanyl
▼ + stars: | 2023-11-14 | by ( Michael Martina | ) www.reuters.com time to read: +2 min

Biden will discuss the issue with China's President Xi Jinping on Wednesday in San Francisco at the Asia-Pacific Economic Cooperation (APEC) forum. U.S. National Security Advisor Jake Sullivan said on Tuesday that Washington hoped the summit would result in action to help combat the fentanyl trade. China has long questioned why the U.S. would expect cooperation on fentanyl while targeting the institute. China's embassy in Washington did not immediately respond to a request for comment on the fentanyl issue. Fentanyl is up to 50 times stronger than heroin and is increasingly mixed with other illicit drugs, often with lethal results.

Persons: Jake Sullivan, Karine Jean, Pierre, Leah Millis, Joe Biden's, Bejing, Biden, Xi Jinping, Washington, Marsha Blackburn, Blackburn, Michael Martina, Michelle Nichols, Jonathan Oatis, Bill Berkrot Organizations: National, White House Press, White, REUTERS, FRANCISCO, China's Institute of Forensic Science, U.S . Centers for Disease Control, Prevention, China's, Economic Cooperation, . National, Washington, Institute of Forensic Science, China's Ministry of Public Security, Commerce, Thomson Locations: Washington , U.S, United States, Washington, San Francisco, Asia, U.S, China, America, China's

The Rules Committee voted 9-7 - along party lines - to send the resolution for a vote in the full Senate. The resolution would temporarily sidestep Tuberville's holds by allowing many promotions to be considered by the Senate simultaneously. Under Senate rules, one lawmaker can hold up nominations even if the other 99 all want them to move quickly. Senate Republican Leader Mitch McConnell, a member of the Rules Committee, said productive discussions with Tuberville about reaching a deal to ease his holds were under way. Just last week, the senator objected to quick approval of the promotions of 364 officers.

Persons: Tommy Tuberville, Jonathan Ernst, Tommy Tuberville's, Donald Trump, Roe, Wade, sidestep Tuberville's, Mitch McConnell, Chuck Schumer, Tuberville, Schumer, Patricia Zengerle, Jonathan Oatis, Bill Berkrot Organizations: U.S, Capitol, REUTERS, Rights, Democratic, Republican, Democrats, Pentagon, Senate, Marine Corps, Thomson Locations: Washington , U.S

☆ Senator asks Treasury to bar Chinese battery firms, minerals from US EV tax credits
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, U.S. and Chinese flags are seen in this illustration taken, September 26, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Democratic Senator Joe Manchin urged the U.S. Treasury on Monday to adopt the "strictest possible standards" to prevent Chinese-produced minerals or Chinese battery companies from winning electric vehicle tax credits. In 2022, Congress passed the Inflation Reduction Act barring $7,500 in future consumer EV tax credits if any battery components are manufactured or assembled by a "foreign entity of concern." The foreign entity of concern rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. A key decision in the guidance is whether Ford Motor Co's (F.N) deal to license the technology of Chinese battery manufacturer CATL (300750.SZ) for use in Ford-owned U.S. battery plants will meet the Treasury's standards to access the tax credits.

Persons: Dado Ruvic, Joe Manchin, Manchin, Janet Yellen, Ford, David Shepardson, Chris Reese, Jonathan Oatis Organizations: REUTERS, Rights, Democratic, U.S . Treasury, Energy Committee, Treasury, Ford, Thomson Locations: China, Michigan

Nov 13 (Reuters) - Donald Trump Jr. testified on Monday about what he called the "sexiness" of his father's real estate portfolio, in his second time taking the stand in the former U.S. president's civil fraud trial. Donald Jr. said the "sexiness" of his father's real estate projects attracted licensing deals with other developers who wanted to emulate his style. "Let him go ahead and talk about how great the Trump Organization is," said Engoron, who has defended himself during the trial from allegations of bias from Trump and his lawyers. Donald Jr., Eric and Ivanka Trump said they were not involved in preparing their father's financial statements and left bookkeeping at the Trump Organization to accountants. Engoron has ordered the dissolution of companies that control pillars of Trump's real estate portfolio, including Trump Tower in Manhattan.

Persons: Donald Trump Jr, Donald Trump, Letitia James, Trump, Clifford Robert, Donald Jr, James, Arthur Engoron, Engoron, Colleen Faherty, Jane Rosenberg, Eric Trump, Ivanka Trump, Eric, Joe Biden, Jack Queen, Noeleen Walder, Daniel Wallis, Nick Zieminski, Jonathan Oatis Organizations: New York, Trump, Trump Organization, Court, REUTERS, Democratic, Republican, Thomson Locations: U.S, Manhattan, Hawaii, New York, New York City

☆ Manhattan real estate brokerages are sued for inflating commissions
▼ + stars: | 2023-11-13 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Nov 13 (Reuters) - A lawsuit filed on Monday accuses the Real Estate Board of New York (REBNY) and more than two dozen brokerages and companies of conspiring to artificially inflate commissions paid to agents who help sell residential real estate in Manhattan. That verdict, which a judge can triple to more than $5.3 billion, could upend decades-old practices that require sellers to pay commissions to buyers' brokers. March said it is unclear whether this would result in lower commissions, or delay sales while buyers' brokers negotiate with sellers. The lawsuit seeks damages for sellers of Manhattan residential property in the last four years who paid buyer brokers' commissions under REBNY rules. The case is March v. Real Estate Board of New York et al, U.S. District Court, Southern District of New York, No.

Persons: Douglas, Mike Segar, Douglas Elliman, Monty, Carl Hum, Corcoran, REBNY, Jonathan Stempel, Jonathan Oatis Organizations: REUTERS, Real, Board, New, Corcoran, National Association of Realtors, NAR, ., Court, Southern District of, Thomson Locations: Manhattan's, New York City , New York, U.S, New York, Manhattan, Missouri, Brooklyn, Southern District, Southern District of New York

☆ Truck maker Scania to switch to zero-carbon steel by 2030
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

The sky reflects on the window of a Scania truck at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer Acquire Licensing RightsOSLO, Nov 13 (Reuters) - Swedish truck maker Scania will switch to using steel made without carbon emissions in its heavy-duty vehicles before the end of the decade, it said on Monday. "Scania's purpose is to drive the shift towards a sustainable transport system," CEO Christian Levin said in a statement, adding that the truck maker was taking action across its value chain to cut emissions. SSAB is investing heavily in new production methods to eliminate carbon dioxide emissions from its steel production, such as replacing traditional coking coal with zero-carbon electricity and hydrogen. The metal has the same quality and technical properties as traditional steel, including when recycled, according to SSAB.

Persons: Fabian Bimmer, Christian Levin, Terje Solsvik, Jonathan Oatis Organizations: IAA Transportation, REUTERS, Rights, Scania, Volkswagen's, Thomson Locations: Scania, Hanover, Germany, Rights OSLO, Swedish

Companies United States Senate FollowWASHINGTON, Nov 13 (Reuters) - A group of 39 Senate Republicans in a letter on Monday called on major U.S. banking regulators to withdraw a contentious proposal to significantly raise bank capital requirements, warning it could hinder lending and harm the economy. Regulators said stronger cushions will guard against future unforeseen risks, and cited the failures earlier this year of three large U.S. lenders as a warning. * Regulators have said they are continuing to gather data for the proposal, and have given firms more time to provide feedback. * Senator Tim Scott, the top Republican on the Senate Banking Committee and a former presidential candidate, and Senate Minority Leader Mitch McConnell were among the senior Republicans in the chamber to sign Monday's letter. WHAT'S NEXTU.S. banking regulators are due to testify before the Senate Banking Committee on Tuesday, when they are expected to be pressed on the proposal by Republicans.

Persons: Banks, Tim Scott, Mitch McConnell, Pete Schroeder, Paul Simao, Jonathan Oatis Organizations: United States, WASHINGTON, Republicans, Federal Reserve, Federal Deposit Insurance Corporation, Currency, Regulators, Republican, Senate Banking Committee, Fed, OCC, NEXT, Thomson Locations: Basel

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. ET (1500 GMT) with a 152 strike price, analysts said. The dollar shot to 151.92 yen at 9:42 a.m. (1442 GMT), its highest level since October 2022, and then tumbled to 151.20 minutes after the strike price. Earlier, Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The yen is down almost 14% against the dollar this year.

Persons: Dado Ruvic, Shunichi Suzuki, Marc Chandler, It's, Chandler, Jerome Powell, Geoff Yu, Sterling, Rishi Sunak, Sunak, David Cameron, Suella Braverman, Dhara Ranasinghe, Brigid Riley, Emelia Sithole, Sharon Singleton, Jonathan Oatis Organizations: REUTERS, Japanese Finance, Bank of Japan, Bannockburn Global, United Auto Workers, Federal Reserve, BNY Mellon, British, Thomson Locations: Bannockburn, New York, U.S, Tokyo, Japan, TOKYO

REUTERS/Mike Segar/File Photo Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Republican presidential contender Nikki Haley's campaign is reserving $10 million in advertising, her camp said on Monday, as she tries to scoop up supporters of U.S. The ads will be placed on TV, radio and the internet starting in the first week of December in Iowa and New Hampshire, Haley's campaign said. Haley appeared to have caught a small break, however, when Scott unexpectedly dropped out on Sunday night. In state-level polls, Haley typically leads DeSantis in New Hampshire and South Carolina, while DeSantis leads Haley in Iowa. Last week, DeSantis was endorsed by Iowa's governor, Kim Reynolds, who is deeply popular among conservatives in the state.

Persons: Nikki Haley, Adrienne Arsht, Mike Segar, Nikki Haley's, Tim Scott, Haley's, Joe Biden, Haley, Donald Trump, Ron DeSantis, Trump, Scott, DeSantis, Kim Reynolds, Gram Slattery, Ross Colvin, Jonathan Oatis Organizations: South Carolina, Republican, U.S, NBC News, Adrienne, Adrienne Arsht Center, Performing Arts, REUTERS, Rights, South, Democratic, United, Florida, Reuters, Trump, Iowa's, Thomson Locations: Miami , Florida, U.S, Iowa, New Hampshire, United Nations, South Carolina, Iowa , New Hampshire, DeSantis

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