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US banks expect to tighten lending standards on sector worries
US banks tightened lending standards in the first few months this year, and expect this to continue over the rest of 2023, said a Federal Reserve survey released on Monday. Asked about their outlook for lending standards over the rest of 2023, "banks reported expecting to tighten standards across all loan categories," the Fed said on Monday.
Virgin to launch commercial spaceflights in June
Space tourism company Virgin Galactic announced Monday that it is resuming flights with a mission this month, its first in nearly two years, and the launch of commercial trips in June. Virgin Galactic is in competition in the space tourism business with Amazon founder Jeff Bezos' Blue Origin, which also offers short suborbital flights and has sent 32 people into space.
US needs $30bn to seal 14,000 unplugged offshore oil and gas wells: study
The cost to secure thousands of inactive oil and gas wells in the US Gulf of Mexico could top $30 billion, according to research published Monday weighing potential environmental damage against the estimated price tag. In the case of the Gulf of Mexico wells, the study found that of the total $30 billion in estimated costs for plugging inactive wells, under $2 billion were in state waters.
Most Asian markets rise after strong US jobs, rebound in banks
Asian markets rose Monday, tracking a rally on Wall Street fuelled by a strong rebound in US regional banks and forecast-beating jobs data that eased fears over a recession in the world's top economy. Still, a surge Friday in US regional lenders and the strong jobs report provided a shot in the arm for Asian markets at the start of the week.
Superhero fatigue? Not for the third 'Guardians' film
Despite talk of growing superhero fatigue among moviegoers, Marvel's "Guardians of the Galaxy Vol. 3" opened to a solid $114 million in ticket sales in North American theaters, industry watcher Exhibitor Relations reported Sunday.
Yellen warns of 'chaos' if US fails to raise debt ceiling
US Treasury Secretary Janet Yellen warned Sunday that unless Congress acts soon to raise the nation's debt ceiling, "financial and economic chaos would ensue." "It simply is unacceptable for Congress to threaten economic calamity for American households and the global financial system as the cost of raising the debt ceiling," she told ABC talk show "This Week."
Winners and losers of Erdogan's polarising rule
President Recep Tayyip Erdogan's two-decade domination of Turkey has seen some groups prosper and others suffer in the highly polarised country. MIDDLE CLASS: Turkey enjoyed an economic boom during Erdogan's first decade in power that created a thriving new middle class.
Wars, religion and football: five faces of Erdogan
Abhorred and adored, Recep Tayyip Erdogan has been compared to sultans and pharaohs while stamping his outsized personality and domineering style on Turkey over 20 years. In the secular Turkey created by Mustafa Kemal Ataturk, Erdogan attended one of the first religious public schools, combining studies of the Koran with other subjects.
Boom and bust: Quakes define legacy of Turkey's 'Erdonomics'
The earthquake's frightening rumble came deep in the night.
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