Tag: TO WASH
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Manchin threatens to sue US Treasury over EV tax credit rules
WASHINGTON, March 29 (Reuters) – Senate Energy Committee Chairman Joe Manchin said on Wednesday he could go to court after the US Treasury Department released guidelines on battery procurement for electric vehicle tax credits later this week. “If it goes off the rails” and goes against the intent of climate legislation passed in August, “I […]
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U.S. battery sourcing guidelines to cut some EV tax credits — official
WASHINGTON, March 29 (Reuters) – The long-awaited guidance from the US Treasury Department regarding battery procurement requirements for electric vehicle tax credits expected by Friday will result in fewer vehicles receiving full or partial credits, a US official told Reuters. In December, the Treasury Department decided not to release its proposed battery procurement guidelines until […]
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St. Louis is suing Hyundai and Kia for auto theft, joining other US cities
WASHINGTON, March 27 (Reuters) – The city of St. Louis, Missouri, said Monday it is joining several major US cities in suing Korean automakers Hyundai Motor (005380.KS) and Kia Corp (000270.KS) over the not installing anti-theft technology in millions of their vehicles. The lawsuit filed in U.S. District Court in Missouri follows similar actions by […]
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US and Japan sign trade deal on battery minerals for electric vehicles
WASHINGTON, March 28 (Reuters) – The United States and Japan on Tuesday announced a trade deal on battery minerals for electric vehicles that is essential to strengthening their battery supply chains and giving Japanese automakers wider access to a new $7,500 US EV tax credit. The swiftly negotiated agreement prohibits the two countries from imposing […]
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Bank stress is pushing the US closer to recession, says Kashkari
WASHINGTON/FRANKFURT, March 26 (Reuters) – Stress in the banking sector is under close scrutiny due to its potential to trigger a credit crunch, a US Federal Reserve policymaker said on Sunday, while a European Central Bank official also suggested a possible credit tightening. . Authorities around the world are on high alert about the fallout […]
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US regulators say banking system ‘sound and resilient’
WASHINGTON, March 24 (Reuters) – The multi-regulator US Financial Stability Oversight Council agreed on Friday that the US banking system remains “sound and resilient” despite pressure on some institutions, the US Treasury Department said in its latest statement to calm jittery markets and bank depositors. Speaking to a private meeting chaired by Treasury Secretary Janet […]
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Caught between markets and the US Congress, Yellen adjusts the bank’s security message
WASHINGTON, March 23 (Reuters) – For the fourth time in a week, US Treasury Secretary Janet Yellen took to the microphone on Thursday to reassure Americans that the US banking system is safe, each time with a subtle shift in the message. But bankers and Wall Street never heard what they desperately wanted: for the […]
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Central banks continue to raise interest rates amid banking turmoil
March 23 (Reuters) – The Bank of England followed the Federal Reserve and Swiss National Bank in raising interest rates on Thursday as policymakers continued their battle against inflation in the face of the instability that rippled through the global banking system this month . Investors had wondered whether central banks could continue tightening policies […]
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US not considering ‘general insurance’ for bank deposits, says Yellen
WASHINGTON, March 22 (Reuters) – US Treasury Secretary Janet Yellen told lawmakers on Wednesday that the Federal Deposit Insurance Corporation (FDIC) is not considering offering “general insurance” for bank deposits following the collapse of two prominent US banks this month. Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move […]
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US authorities focused on stability, First Republic as Fed meets
March 22 (Reuters) – US authorities will consider moves on Wednesday to further strengthen financial stability, along with scenarios to address the problems regional lender First Republic Bank continues to face. While the recent market turmoil has eased, the Federal Reserve meeting is now at the center of attention, with traders arguing over whether the […]