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Stocks Higher, Walmart Job Cuts, Credit Suisse Apology, Virgin Orbit Bankruptcy, Donald Trump Arraignment

Stock futures edge higher as recession worries clip treasury yields; Walmart planning 2,000 e-commerce job cuts as demand wanes; Credit Suisse chairman ‘truly sorry’ for bank collapse as shareholders vent ire; Virgin orbit files for bankruptcy after January launch failure and Former President Donald Trump faces historic arraignment in Manhattan court…

Yellen says not willing to allow contagious bank runs to develop

Yellen says not willing to allow contagious bank runs to develop

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen delivers remarks after receiving the Paul A. Volcker Award at the National Association for Business Economics 39th Annual Economic Policy Conference in Washington, U.S., March 30, 2023. REUTERS/Leah Millis   SBNY -7.16% Add to/Remove from Watchlist Add to Watchlist Add Position Position added successfully to: Please…

China’s central bank calls for stronger defences against financial crisis

China’s central bank calls for stronger defences against financial crisis

© Reuters. FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo BEIJING (Reuters) – China should accelerate legislation of the Financial Stability Law and improve other legal arrangements designed to prevent and dispose…

World Bank warns of ‘lost decade’ in global growth without bold policy shifts

World Bank warns of ‘lost decade’ in global growth without bold policy shifts

© Reuters. FILE PHOTO: People look on near cranes standing at a construction site in Beijing, China January 12, 2023. REUTERS/Tingshu Wang By Andrea Shalal WASHINGTON (Reuters) -Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a “lost decade” for the world’s economy, unless policymakers…