U.S. December deficit quadruples as outlays grow, debt ceiling nears

By David Lawder WASHINGTON (Reuters) -The U.S. government’s December budget deficit quadrupled from a year earlier to $85 billion as receipts shrank slightly and outlays grew to a new December record, the Treasury Department said on Thursday as it neared the $31.4 trillion federal debt limit. The results confirmed forecasts that revenues would start to …

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White house: Price hike for Moderna’s COVID shots hard to justify

WASHINGTON (Reuters) – The price hike for Moderna Inc COVID-19 shots is hard to justify, White House spokesperson Karine Jean-Pierre said on Thursday. Moderna is considering pricing its vaccine at $110 to $130 per dose in the United States when it shifts from government contracting to commercial distribution, the company’s chief executive, Stephane Bancel, told …

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Biden didn’t know classified documents were there in think tank or his home – White House

WASHINGTON (Reuters) – U.S. President Joe Biden did not know that classified documents from his vice presidential days were at a Washington think tank or house in Wilmington, White House spokesperson Karine Jean-Pierre said on Thursday. Biden did not know what was in those classified documents, the White House said after Attorney General Merrick Garland …

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City National Bank reaches settlement of redlining allegations with Justice Dept

By Hannah Lang (Reuters) – City National Bank has agreed to pay $31 million to settle lending discrimination allegations with the U.S. Justice Department, the agency said on Thursday. A complaint filed in federal court on Thursday alleged that from 2017 through at least 2020, the Los Angeles-based bank received fewer applications in majority-Black and …

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U.S. inflation retreating as consumer prices fall; labor market still tight

By Lucia Mutikani WASHINGTON (Reuters) – U.S consumer prices fell for the first time in more than 2-1/2 years in December as gasoline and motor vehicles prices declined, offering hope that inflation was now on a sustained downward trend, though the labor market remains tight. Americans also got more relief at the supermarket last month, …

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