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[ad_1] WASHINGTON — The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate. But consumer spending, which drives most of the economy’s growth, was revised sharply down. The government had previously estimated that…
[ad_1] Average Wall Street bonuses dropped sharply last year to $176,700 amid lagging profits and recession fears NEW YORK — Average Wall Street bonuses dropped sharply last year to $176,700 amid lagging profits and recession fears, New York state’s comptroller reported Thursday. The bonuses for employees in New York City’s securities industry dropped 26% from…
[ad_1] TOKYO — Asian shares were mostly higher Thursday following a rally on Wall Street as worries over banks following the collapses of several lenders in recent weeks receded. Forceful actions by regulators have helped to calm markets as investors have turned their focus to how central banks might adjust their interest rate policies to…
[ad_1] WASHINGTON — Republican lawmakers accused top bank regulators Wednesday of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference. Regulators closed the bank March 10, shaking the U.S. financial system and triggering fears of a broader banking crisis. But…