Author: Press Room

When FBI tactical agents wielding assault rifles confronted Robert Hanssen one Sunday evening in 2001, the most dangerous spy in US history was finally put out of service. Hanssen, a senior FBI special agent at the time, had just finished stashing a trove of classified documents under a bridge in Virginia that was intended to later be collected by his Russian handlers. As in the similar case of former CIA officer Aldrich Ames, who had been arrested by the FBI seven years earlier after similarly passing secrets for years that led to the execution of countless Russian intelligence officials covertly…

U.S. stocks have been choppy Wednesday, as investors parse a consumer-price index report that showed inflation remains sticky despite some signs of easing. “It was almost dead on the consensus,” said Liz Ann Sonders, chief investment strategist at Charles Schwab, in a phone interview. “It wasn’t a surprise in either direction.” The U.S. consumer-price… Read the full article here

As Americans complete their income-tax returns ahead of the April 18 filing deadline, they are revisiting the effects of last year’s scorching-hot inflation — even if they don’t realize it. Like so much else in a person’s financial life, inflation seeps into their tax situation. When the tax code attempts to account for rising prices, particular… Read the full article here

Philadelphia Fed President Patrick Harker on Tuesday suggested he might support one more quarter-percentage-point interest-rate hike before pausing. Since last March, the Fed has increased its benchmark rate from close to zero to a range of 4.75%-5%. “My view all along, and I have been pretty public about this, we need to get rates above 5%… Read the full article here

© Reuters. Canoo (GOEV) secures Oklahoma City facility with lease agreement By Michael Elkins Advanced mobility and electric vehicle company, Canoo Inc (NASDAQ:) announced Monday that they have entered into a long-term lease agreement with an affiliate of AFV Partners, a related party, for its recently announced Vehicle Manufacturing Facility in Oklahoma City. Canoo will initially occupy close to 500,000 square feet, with the ability to expand. In phase 1, Canoo expects to employ more than 500 people, ramping teams over the coming months. “One of the reasons we picked Oklahoma is because it has one of the most amazing…

By Jarrett Renshaw and Andrea Shalal WASHINGTON (Reuters) -When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, when it lowered output in October. The tepid response reflects, in part, the Biden administration’s view that the production cut may not have as much of an impact on the slowing U.S. and global economy as last year’s cuts, which came as oil supplies were…

BANGKOK (Reuters) – Thailand’s economy is expected to grow 3.6% this year, Bank of Thailand (BOT) governor Sethaput Suthiwartnarueput said on Monday, adding that fiscal an monetary policy should prioritize stability rather than economic stimulus. “The economy is resilient and is able to withstand multiple shocks,” Sethaput told TV channel JKN-CNBC. The economy grew 2.6% last year. The BOT last month raised interest rates a quarter a percentage point to 1.75% The BOT has raised its key rate by a total of 125 basis points since August, less aggressive than many of its regional peers. “Policy normalisation will continue, but…

Businesses appear to be in favor of real-time payments, according to a survey by U.S. Bank, and a better payment experience is one of the top drivers. And they want to be able to choose which rails to use. “We are building intelligent routing,” said Anu Somani head of global payables & embedded payments at the bank. “Clients can come to us for a one-stop bank and we can connect to any instant payment rail that meets their business goals. In payment transformation initiatives planned for the year ahead, 53% want to improve vendor and customer payment experiences, 48% want…

BlackRock (NYSE: BLK) is scheduled to report its fiscal Q1 2023 results on Friday, April 14, 2023. We expect BlackRock BLK to top the consensus estimates for revenues and earnings. The company outperformed the estimates in the last quarter, despite a 15% y-o-y decrease in the total revenues to $4.3 billion. The top line suffered due to a drop in assets under management (AuM) because of lower market valuations and negative foreign exchange movement. Notably, the average AuM decreased 14% y-o-y to $8.4 trillion. We expect the same trend to continue in the first quarter. We estimate BlackRock’s valuation to…

The Supreme Court has denied a request to delay $6 billion in student loan forgiveness and other student debt relief under an approved settlement, paving the way for the Education Department to continue to discharge the debts of hundreds of thousands of borrowers. Here’s the latest. Legal Challenge Tries To Stop $6 Billion In Student Loan Forgiveness Under Settlement The dispute before the Supreme Court is over an agreement to end Sweet v. Cardona, a class action lawsuit between the Education Department and student loan borrowers over disputed Borrower Defense to Repayment claims. The Borrower Defense to Repayment program can…