Author: Press Room

The remarkable pace with which President Joe Biden has sought to remake the federal bench has been put into jeopardy by dual threats: Democratic Senate absences and a Senate rule that gives Republicans the ability to veto district court nominees for courts in their home states. It’s a combination that has Democrats increasingly concerned about the fate of future nominees at a time when the party had hoped to counteract years judiciary transformation under President Donald Trump. The latest blow came last week when Biden’s choice to fill a district court vacancy in Mississippi became the second nominee to be…

As the first quarter came to a close, some company insiders bought up shares on the open market. A GameStop (ticker: GME) director just made the first open-market stock purchase this year, while the CEOs of department-store chain Kohl’s (KSS) and avocado slinger Calavo Growers (CVGW) picked up millions of dollars of stock. All three stocks turned in performances last year that fell far short of the market. GameStop, Kohl’s, and Calavo stock dropped 50%, 49%, and 31% in 2022, respectively, compared with a 19% slip in the S&P 500 index. It’s a mixed bag so far in 2023, with…

By Sabela Ojea Boeing Co. has been awarded a $1.17 billion contract to deliver canister tactical and exercise missiles, blast test vehicles and training equipment to the U.S. Navy, the Department of Defense said Friday. The U.S. aircraft maker’s contract represents a modification to a prior ordering agreement secured in April 2021. Boeing would also procure weapon station support equipment and missile spares, among other technical instruments, as well as integrated logistics support, technical publications and field service representatives and training. Work will be performed in several locations in the U.S., and is expected to be completed by March 2025,…

The U.S. economy added 236,000 jobs in March, just shy of the 238,000 forecast by economists polled by the Wall Street Journal. The unemployment rate declined to 3.5% in March from 3.6% in February. The latest data was calculated before the collapse of Silicon Valley Bank and Signature Bank last month, an event that could lead to tighter lending criteria by banks in the months ahead. (The tech sector has shed more than 168,000 jobs since the start of 2023.) The U.S. created an estimated 311,000 jobs in February and 504,000 in January. Both easily surpassed most economists’ expectations, and…

Headline consumer inflation in Europe is decelerating, data released on Thursday showed. However, bond yields reversed initial losses as traders noted German CPI not falling as much as hoped and underlying price pressures remained stubbornly high, raising concerns the European Central Bank may need to keep raising interest rates. Consumer prices in Spain, the eurozone’s fourth biggest economy, rose 3.1% in the year to March, down sharply from the 6% increase recorded in February and below forecasts of 3.7%. The 20-month low for Spanish inflation was driven by plunging energy prices as tight conditions in the natural gas market eased…

© Reuters. FILE PHOTO: The moon rises behind the skyline and financial district in Toronto, November 25, 2015. REUTERS/Mark Blinch By Maiya Keidan TORONTO (Reuters) -Canadian dealmakers are optimistic about a return to strength in the second half of the year after mergers and acquisitions in the first quarter dropped to pandemic levels, belayed by higher borrowing costs and panic around a banking crisis. The collapse of regional banks Silicon Valley Bank and Signature Bank (OTC:) in the U.S. tightened credit markets, making funding difficult for deals. As the banking crisis abates and many global central banks move to the…

By Ambar Warrick Investing.com — Oil prices rose slightly in early Asian trade on Tuesday as markets weighed a surprise output cut by the OPEC+ against fears of slowing economic growth after a barrage of weak manufacturing indicators from across the globe. Crude prices rallied to multi-month highs on Monday after the Organization of Petroleum Exporting Countries and allies (OPEC+) unexpectedly said it will cut output by over 1.6 million barrels per day (bpd), pointing to tighter supply in the coming months. But this was also accompanied by a slew of weak manufacturing data from across the globe, which played…

By Peter Nurse Investing.com – The U.S. dollar drifted lower in early European trade Tuesday as returning confidence in the global banking sector weakened demand for this safe haven. At 04:00 ET (07:00 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 102.320. The banks index rose 3.1% on Monday, helped by the news that First Citizens BancShares (NASDAQ:) would acquire the deposits and loans of Silicon Valley Bank, which failed earlier this month, as well as reports from Bloomberg that U.S. authorities were considering more support for banks. Signs of…

WASHINGTON (Reuters) – The World Bank on Thursday lifted its 2023 economic growth forecast for eastern Europe and central Asia to 1.4% from an earlier 0.1% prediction, citing improved outlooks for both Russia and Ukraine despite their ongoing war. The regional forecast, released just days before the World Bank and International Monetary Fund hold their annual spring meetings, has Ukraine’s economy growing by 0.5% this year following a staggering contraction of 29.2% in 2022, the year Russia launched its invasion. “While the economic toll suffered by Ukraine as a result of the invasion is enormous, the reopening of Ukraine’s Black…

When we established Circulate Capital four years ago, we knew we wanted to be based in Southeast Asia where there was (and still is) an enormous opportunity to invest in and scale companies that are developing crucial solutions to solve the plastic waste crisis. So why Singapore? For those who read this column, you’ll know that I’ve recently spent some time reflecting on how far we’ve come in four years and how much further we still have to go to achieve our ambitions. And one of the things I’ve realized is that where you decide to set up your fund…