Author: Press Room

Stay informed with free updatesSimply sign up to the US financial regulation myFT Digest — delivered directly to your inbox.US lawmakers on Wednesday split along party lines over whether new international rules intended to prevent another global financial crisis would provide a buffer for banks or improperly weigh down the sector and constrain lending in the economy.The US implementation of the so-called Basel III endgame for banking standards was debated during a Senate banking committee hearing in which the chief executives of the eight largest US banks, including JPMorgan Chase, Goldman Sachs and Citigroup, testified. The chief executives have argued that…

© Reuters. FILE PHOTO: A logo of the International Air Transport Association (IATA) is seen at their headquarters ahead of the airline industry body media day in Geneva, Switzerland, December 6, 2023. REUTERS/Denis Balibouse/File Photo By Joanna Plucinska GENEVA (Reuters) – Global aviation industry leaders will meet in January to discuss safety concerns around increased GPS interference by cyberattackers steering planes off course, an International Air Transport Association executive said on Wednesday. Global Positioning System (GPS) spoofing has spiked in recent months, using counterfeit signals to alter perceptions of time or location, posing a threat to planes, ships and the…

© Reuters. Usage of Fed’s Standing Repo Facility Spikes as Funding Costs Rise Quiver Quantitative – This week marked a significant uptick in the use of the Federal Reserve’s Standing Repo Facility (SRF), with demand reaching its highest level since July 2020. The SRF, a mechanism where banks can exchange Treasury and agency debt for reserves at a rate of 5.50%, saw counterparties withdraw $203 million on December 5. This surge in activity comes as the financial markets experience heightened volatility, particularly after the Secured Overnight Financing Rate (SOFR) escalated to a record 5.39% on December 1. The increased utilization…

monsitj JP Morgan initiated coverage of Cargo Therapeutics (NASDAQ:CRGX) with an overweight rating, citing encouraging Phase 1 data for its drug candidate CRG-022 in the treatment of large B-cell lymphoma. “The magnitude of clinical response in Phase 1 positions CRG-022 as the key treatment option for the growing CD19 failure market,” the bank analysts wrote in a note. “More importantly, it provides a solid support to CRGX’s valuation.” JP Morgan said it estimated peak sales for CRG-022 of $1.1B from CD19 treatment failure alone. The investment bank set its price target for the stock at $23. More on CARGO Therapeutics,…

A U.S. energy developer said it shuttered a battery storage facility connected to its solar panel array located on Marine Corps Base Camp Lejeune in North Carolina, citing national security concerns.North Carolina-based Duke Energy confirmed to Fox News Digital Wednesday the facility, which began operations in April, was disconnected late last week after Republican lawmakers in both the House and Senate raised concerns about the project. The storage facility was constructed with batteries manufactured by Contemporary Amperex Technology, Limited (CATL), a Chinese company with ties to the Chinese Communist Party (CCP) apparatus.”Nevertheless, some concerns about this project have been raised, and,…

De Winton’s golden mole was last spotted in 1937, leading researchers to believe it went extinct.Researchers collected soil samples to try and find genetic evidence that the moles were still alive.They found that evidence, and two living De Winton’s moles, which they photographed. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Five scientists and one border collie set out to find an animal thought to be extinct for over 80 years by following the ever-changing treasure map of the sand.They were searching for signs…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.In Sweden, the innate suspicion towards organised labour of a US tech entrepreneur has collided with Europe’s social model. The Swedish IF Metall union is in an escalating battle with Elon Musk’s Tesla over the carmaker’s refusal to sign a collective bargaining agreement, where employers and unions set labour conditions. The dispute has already spread to dockworkers in Norway and Denmark. Its implications for Tesla, unions and the auto industry stretch across Europe, and back home to the US.Under the Nordic labour…

© Reuters. Mexico’s Central Bank Governor Victoria Rodriguez Ceja poses for a photo after an interview with Reuters at the annual banking convention, in Acapulco, Mexico March 25, 2022. REUTERS/Javier Verdin/File Photo MEXICO CITY (Reuters) – Mexico’s financial system has a resilient and solid position despite a complex global outlook, central bank Governor Victoria Rodriguez said on Wednesday. The banking system for Latin America’s No. 2 economy showed resiliency in stress tests probing its solvency and liquidity, the Bank of Mexico’s financial stability report said. Risks to Mexico’s financial stability include the possibility of a further slowdown in the global…

© Reuters. FILE PHOTO: Fresenius headquarters in Bad Homburg near Frankfurt, Germany, February 27, 2018. REUTERS/Ralph Orlowski/File Photo By Ludwig Burger FRANKFURT (Reuters) -Dialysis group Fresenius Medical Care (NYSE:) said on Wednesday that data including medical records on 500,000 patients and former patients were stolen from a U.S. subsidiary’s data warehouse. “The incident may have affected approximately 500,000 patients, former patients, guarantors and 200 staff located across several states, U.S. territories and four countries,” the German company said in a statement. It said it launched an investigation with the help of a forensic firm after subsidiary Cardiovascular Consultants Ltd on…

© Reuters. NEW YORK – Citi analysts are projecting a difficult year ahead for energy stocks in 2024, following the Organization of the Petroleum Exporting Countries and allies (OPEC+) decision to cut production. The analysts anticipate an oversupply in the oil market that could lead to asset price deflation and lower commodity prices. This comes as a significant shift from the market squeeze previously orchestrated by OPEC+. According to Citi’s analysis, there is an expected excess in spare capacity of over 3 million barrels per day, which may contribute to a drop in oil equities’ performance. As a result, West…