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By Pete Schroeder WASHINGTON (Reuters) -U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate 16% from current levels, with the brunt felt by the largest and most complex firms, regulators said. The industry is already warning that such a big hike could […]

(Reuters) -Russian President Vladimir Putin said on Wednesday that Ukraine had intensified its frontline attacks over the last few days while a Ukrainian official said Kyiv was making slow but steady progress in liberating its territory. On Wednesday, three different media outlets cited unnamed U.S. officials as saying Kyiv had launched a new phase of its ambitious counteroffensive which seeks to eject Russian troops from the nearly 20% of Ukrainian […]

HONG KONG (Reuters) – China and the U.S. agreed to keep in close communication on issues including climate change, envoys from the two nations said on Thursday during a video call. The two sides exchanged views on topics such as strengthening China-U.S. climate change dialogue, and promoting cooperation in the global climate multilateral process, China’s ecology and environment ministry said in a statement, citing talks between climate envoy Xie Zhenhua […]

By Gloria Dickie (Reuters) – As thousands of tourists fled wildfires this week on the Greek island of Rhodes, and many more suffered baking heat across the U.S. Southwest, they were doing so during what scientists now say is the world’s hottest month on record.  An analysis by Germany’s Leipzig University released on Thursday found that July 2023 will shatter heat records, with this month’s mean global temperature projected to […]

WASHINGTON (Reuters) – The U.S. economy grew faster than expected in the second quarter as labor market resilience underpinned consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay. Gross domestic product increased at a 2.4% annualized rate last quarter, the Commerce Department in its advance estimate of second-quarter GDP on Thursday. The economy grew at a 2.0% pace in the January-March quarter. Economists polled […]

SAO PAULO (Reuters) -At least eight people have died, one was missing and nearly a dozen others wounded after a silo exploded on Wednesday at an agricultural co-operative in southern Brazil, the government of Parana state said in a statement on Thursday. The blast occurred at the C.Vale co-operative in the small town of Palotina, about 600 kilometers (373 miles) away from the state’s capital Curitiba. Parana is one of […]

WASHINGTON (AP) — With millions of Americans facing broiling heat across the Southwest, President Joe Biden on Thursday plans to announce new steps to protect workers, improve weather forecasts and make drinking water more accessible, the White House says. He’ll be joined by the leaders of the Federal Emergency Management Agency and the National Oceanic and Atmospheric Administration. White House press secretary Karine Jean-Pierre described the heat wave as “a difficult time” […]

By Leroy Leo and Patrick Wingrove (Reuters) -AbbVie on Thursday raised its annual profit forecast after beating analysts’ estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Global Humira sales tumbled 25.2% to $4.01 billion while analysts had expected $3.94 billion, according to Refinitiv data. Humira’s sales trajectory is on the top of investors’ minds following the entry […]

(Reuters) – Diego Ioverno has replaced the departing Laurent Mekies as Ferrari’s Formula One sporting director and will be on the pitwall in Belgium this weekend, the Italian team said on Thursday. Mekies is leaving this week after four and a half seasons and joining Red Bull-owned AlphaTauri as team principal from 2024, replacing Franz Tost. Ferrari said in a statement that Mekies would not be in Belgium for the […]