Dimon, business leaders warn debt ceiling brinkmanship risks 'catastrophe'

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen, JPMorgan Chase &Co Chief Executive Jamie Dimon and Nasdaq CEO Adena Friedman warned on Wednesday of financial and economic catastrophe if Congress fails to raise the debt ceiling.JP Morgan Chase CEO Jamie Dimon is seen on the video screen as U.S. President Joe

Sunny bank holiday weekend on the way

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Temperatures of up to 75F (24C) are predicted to bring

Afghanistan’s central bank governor tells of his escape as the Taliban closed in on Kabul

The former governor of Afghanistan’s central bank has told Sky News how he escaped the country with only the clothes he was wearing “and one shoe”. Ajmal Ahmady, who was also an adviser to former president Ashraf Ghani, spoke as efforts continue to get people out of Afghanistan while the

Hamish Rutherford: Reserve Bank hints new lending tool might be worthwhile, even if only applied to investors

OPINION: Top officials at the Reserve Bank say their preferred tool to restrict bank lending may have an impact even if it applies only to investors. Although it is still to provide advice on further lending restrictions to the Beehive, giving the Government an excuse to exclude aspiring homeowners may

Bank of England sees slightly stronger spring spending bounce-back

The Bank of England has predicted a slightly quicker bounce-back for consumer spending this spring than previously thought as lockdowns are eased. Minutes of the Bank’s latest monetary policy meeting showed rate-setting officials also think that the short-term rise in unemployment will be “more moderate” than it expected just a

Mediobanca's Cairn unit merges with bad loan manager Bybrook

FILE PHOTO: A logo of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. REUTERS/Flavio Lo Scalzo/ File PhotoMILAN (Reuters) – Italy’s Mediobanca said on Tuesday its Cairn Capital unit would acquire and merge with London-based distressed credit specialist Bybrook Capital as part of its strategy to

Car load of people plunges 25m down bank into river near Thames

A car load of people had a “very lucky” escape after their vehicle plunged 25m down a bank into a river near Thames. Fire and Emergency crews responded to the crash in the Kauaeranga Valley about 5.10pm yesterday. The vehicle had landed upside down, submerged in water. “On arrival we

COVID-19: Bank watchdog paves way for resumption of dividends

Banking regulators have paved the way for the resumption of dividend payments by Britain’s biggest lenders next year. In a statement rushed out following an enquiry from Sky News, the Prudential Regulation Authority (PRA), which sits within the Bank of England (BoE) said it saw “scope for banks to recommence

Deutsche Bank CEO does not want to be junior partner in M&A: Bloomberg TV

FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, gestures during the bank’s annual news conference in Frankfurt, Germany January 30, 2020. REUTERS/Ralph OrlowskiFRANKFURT (Reuters) – Deutsche Bank’s chief executive Christian Sewing does not want the German lender to play second fiddle in any potential tie-up with other lenders, he

Brooks Brothers files for bankruptcy protection

Brooks Brothers, one of America’s oldest clothing brands, has become the latest US retailer to file for bankruptcy protection. The menswear company, which is more than 200 years old, sought court protection from creditors on Wednesday while it looks for a buyer. It had already shut some stores and prepared