Aurelia Butler

WASHINGTON (Reuters) – The United States is divided over the Republican impeachment probe of Democratic President Joe Biden, according to a Reuters/Ipsos poll completed on Thursday, with a plurality of Americans supporting the idea.Some 41% of respondents said they supported the idea of Congress opening an impeachment investigation into Biden related to allegations involving his son Hunter Biden, while 35% were opposed and 24% said they were not sure.The online poll of 4,413 Americans was conducted from Sept. 8 through Sept. 14, meaning that some respondents answered the question before Republicans in the House of Representatives said on Tuesday they would go ahead with the investigation.Republicans say they have found a “culture of corruption” around the business activities of Biden’s son Hunter Biden that justifies an investigation. They have not released evidence of wrongdoing by the president, and the White House says the probe is a political stunt that is not backed up by facts.The poll results found a sharp partisan divide. Only 18% of Democrats supported the inquiry, while 71% of Republicans backed it. Likewise, 63% of Democrats and 14% of Republicans said they did not support it.Self-described independents were more evenly divided, with 38% supporting the probe and 30% opposing it and 32% unsure.The investigation could lead to an impeachment vote by the Republican-controlled House. Biden would not be removed from office unless two-thirds of the Democratic-controlled Senate votes to convict – an unlikely prospect.Biden’s son Hunter pursued a wide range of foreign business ventures and has struggled with drug and alcohol addiction. He was criminally charged on Thursday with deceiving a gun dealer into selling him a firearm, in the first-ever indictment of a sitting president’s child.The Reuters/Ipsos poll found that 46% of respondents believed that criminal charges were politically motivated, while 40% thought they were not.Previous polls have found that many Americans believe Hunter Biden has received special treatment.The poll has a credibility interval, a measure of precision, of plus or minus 2 percentage points. More

This upcoming wave of Treasury bills follows a period since June, during which money-market funds absorbed over $1.6 trillion in supply. Analysts predict that the incoming supply will be readily absorbed, given the record inflows into money-market funds this year. As of the start of September, government fund inflows have surged to nearly $4.7 billion out of a total asset pool of about $5.6 trillion.The proportion of bills as part of outstanding government debt has increased to around 22.4% as of August, according to Barclays. This is the highest level seen since the beginning of the COVID-19 pandemic and exceeds the average range of 15%-20% observed since the 1980s. This surge in Treasury bill issuance began following the U.S. debt-ceiling deal in June.Despite this increase, there has been no shortage of buyers at bill auctions. The yield on a 3-month Treasury bill reached a 22-year high of 5.46% on Thursday, indicating strong demand. Since June 1, demand for 3-month auctions has surpassed supply by approximately three times, while demand for 4-week, 8-week, and 6-month bill issuance has remained strong.Barclays strategist Joseph Abate anticipates that this trend will continue, driven by expectations of a Federal Reserve rate hike in November and steady policy through September 2024. He also foresees sustained demand from money-market funds and individual investors who are willing to navigate the government’s TreasuryDirect website for yields around 5%.In related financial news, stock markets showed upward momentum on Thursday, with the Dow Jones Industrial Average, the S&P 500 index, and the Nasdaq Composite Index all recording gains since Monday.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

(Reuters) -Employees of the former Bed Bath & Beyond on Thursday sued the committee that oversaw its 401(k) retirement plan, saying its “imprudence” caused them to suffer millions of dollars in losses after the home furnishings retailer filed for bankruptcy.The proposed class action filed in Newark, New Jersey, federal court arose from Bed Bath & Beyond’s termination of the 401(k) plan on Aug. 1, a little over three months after the company sought Chapter 11 protection.Former employees said they lost more than $5 million when their MassMutual “guaranteed investment account,” which they thought had little risk, suffered a 10% loss because rising interest rates hurt the value of its underlying investments.They said the 401(k) committee breached its fiduciary duties by failing to replace the account with similar investment options, such as money market funds and stable value funds, that carried less principal risk if the company went bankrupt.Lawyers for Bed Bath & Beyond did not immediately respond to requests for comment after market hours. A spokesman for a firm overseeing the 401(k) plan’s termination did not immediately respond to requests for comment. Overstock.com (NASDAQ:OSTK) bought and now operates its website under the Bed Bath & Beyond name. It is not a defendant, and a spokeswoman said the company had no involvement in terminating the 401(k).In guaranteed investment accounts, an insurer typically invests in stocks and bonds, and pays investors a fixed return.The former employees said the MassMutual account was invested mainly in long-term bonds that could lose value if interest rates rose. They also said MassMutual had the right to make up losses if its contract were terminated.According to the complaint, Bed Bath & Beyond knew as early as 2019 that its business model was not viable, and had “ample opportunity” in 2020 and 2021 to replace the account before rates began rising.Had it done so, “it would have terminated the MassMutual Contract by notice and avoided the risk of Plan losses that could result from BBB’s bankruptcy and a decrease in value of the GIA’s underlying portfolio,” the complaint said.The lawsuit seeks to recoup all losses resulting from violations of the federal Employee Retirement Income Security Act, which generally protects 401(k) investors.The case is Harvey et al v Bed Bath & Beyond Inc (OTC:BBBYQ) 401(k) Savings Plan Committee et al, U.S. District Court, District of New Jersey, No. 23-20376. More

The central bank first held the rate steady in February following an aggressive series of hikes that began in August 2021.Despite inflation easing, the bank said on Thursday that its decision does not necessarily imply a cycle of successive reductions in the interest rate.Peru’s annual inflation rate in August slowed to 5.58%, the lowest since September 2021.In Thursday’s announcement, the central bank said consumer prices have been decreasing since the beginning of 2023, “but continue to be above the upper limit of the inflation target range.”The bank projected the trend of easing annual inflation to continue, reaching the target range at the beginning of next year, but noted “risks associated with climatic factors.” With Thursday’s cut, Peru joins other Latin American countries that have begun a rate cutting cycle, such as Chile, Brazil and Uruguay. Peru, the world’s No. 2 copper producer, had been among the fastest-growing economies in the region, but its economic growth has been weak after political and social unrest late last year and early this year. More

The European Commision said negotiators held a video conference.”We also received earlier today a paper from Mercosur that we will use as a basis for further engagement,” the commission said in a statement, adding that talks are aimed at concluding the negotiations before the end of the year.The trade agreement was reached in 2019 after two decades of negotiations but has been on hold due to environmental concerns.Earlier this year, the EU presented Mercosur with an addendum to the agreement that included environmental safeguards to address reservations by many EU member states.Brazil, which currently holds the pro tempore presidency of Mercosur, called the additions protectionist and pushed back against more open government procurement provided for in the proposed trade deal.A source at Paraguay’s foreign ministry told Reuters the Mercosur countries have appeared to agree on a response to the EU, overcoming tensions within the trade bloc that had delayed a joint reply.”There is a general agreement with Brazil not to accept terms that hurt the development of the Mercosur nations,” the source said.Diplomats worry that the accord, which would represent the largest trade deal struck by the EU in terms of population, could fall apart if it does not get completed by the end of the year. EU negotiators have been waiting for Mercosur’s reply since March. Many had hoped for a swift conclusion to the agreement under President Luiz Inacio Lula da Silva, who overhauled Brazil’s environmental policies to protect the Amazon (NASDAQ:AMZN) rainforest since taking office this year. More