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By Howard Schneider WASHINGTON Wed Sep 17, 2014 6:26pm EDT (Reuters) – Federal Reserve officials nudged their expected path of interest rate increases higher on Wednesday, but did little to change the outlook for a long slow climb back up to normal monetary policy. The revised rate projections left a deep disconnect between the U.S. central bank and financial markets, with investors anticipating significantly lower rates in the future than the Fed officials themselves project. […]
By Stanley White TOKYO Wed Sep 17, 2014 9:17pm EDT (Reuters) – Japan’s exports declined in August as shipments to the United States contracted, another sign the economy is struggling to rev up after a deep slump in April-June. A further period of lackluster exports and slack domestic demand could force the government and the Bank of Japan to find new ways to prop up the economy. Exports fell 1.3 percent in August from a […]
By Wayne Cole SYDNEY Wed Sep 17, 2014 8:59pm EDT (Reuters) – Japanese shares jumped on Thursday after the dollar vaulted to a six-year peak on the yen as the Federal Reserve’s outlook for rising rates underlined the diverging path between the United states and the rest of the rich world. The euro skidded to a 14-month trough while gold hit an eight-month low as the dollar swept higher across the board, a move that […]
By James B. Kelleher CHICAGO Tue Sep 16, 2014 2:48am EDT (Reuters) – Farm equipment makers insist the sales slump they face this year because of lower crop prices and farm incomes will be short-lived. Yet there are signs the downturn may last longer than tractor and harvester makers, including Deere & Co, are letting on and the pain could persist long after corn, soybean and wheat prices rebound. Farmers and analysts say the elimination […]
(Reuters) — Air France pilots began a one-week strike over company plans to cut costs to recapture market share from budget airlines on Monday (September 15). Air France said on its web site it expected to operate 48 percent of its flights on Monday, but “last minute disturbances are not excluded”. Air France Chief Executive Frederic Gagey said on the weekend the strike, which could run until Sept. 22, would cost the airline between 10 and 15 million euros […]
The European Union sought ways on Saturday to marshal billions of euros into its sluggish economy without getting deeper into debt, casting the net wide to consider options from a pan-European capital market to a huge investment fund. Finance ministers from the bloc’s 28 countries gathered at an informal Ecofin meeting in Milan to flesh out a host of ideas circulating in European capitals. With interest rates already at record lows, ministers need radical steps […]
(Reuters) – China will pledge to invest billions of dollars in India’s rail network during a visit by President Xi Jinping this week, bringing more than diplomatic nicety to the neighbors’ first summit since Narendra Modi became prime minister in May. The leaders of Asia’s three biggest economies – China, India andJapan – have crisscrossed the region this month, lobbying for strategic influence, building defense ties, and seeking new business opportunities. Beijing’s bid to ramp up commercial ties in India comes despite a […]
Ford recalls older model Escape and Mercury Mariner hybrids DETROIT Fri Sep 12, 2014 10:23am EDT 0 Comments inShare Share this Email Print The logo of a Ford Escape hybrid vehicle is shown at the Ford Motor Company assembly plant in Claycomo, Missouri. March 20, 2007. Credit: Reuters/Jason Reed (Reuters) – Ford Motor Co (F.N) is recalling about 74,000 older model Ford Escape and Mercury Mariner crossover vehicles because the electronic hybrid system may overheat, […]
(Reuters) – Euro zone finance ministers agreed on Friday that the looser monetary policy of the European Central Bank should be complemented with a mix of fiscal policy, investment and structural reforms, to boost economic growth. “We will continue to work on this policy mix in the coming months,” the chairman of euro zone finance ministers Jeroen Dijsselbloem told a news conference. They also agreed that cheap credit from the central bank, which now is […]
(Reuters) – Apple Inc unveiled a watch, two larger iPhones and a mobile payments service on Tuesday as Chief Executive Officer Tim Cook seeks to revive the technology company’s reputation as a wellspring of innovation. The first new product to be developed and introduced under Cook’s reign is a timepiece tethered to the iPhone that will combine health and fitness tracking with communications. It will price at $349 and go on sale in early 2015. First impressions […]
MANILA (PNA) — The Group of Dr. Lucio C. Tan formally sealed the deal with San Miguel Corporation (SMC) to buy back Philippine Airlines (PAL), SMC and PAL Holdings, Inc. disclosed to the Philippine Stock Exchange (PSE) Tuesday morning. In their disclosures, the companies said that, “The two biggest stockholders of Philippine Airlines – San Miguel Corporation (SMC) and the Group of Dr. Lucio C. Tan – signed a joint agreement whereby SMC expressed willingness […]
(Reuters) – The euro was deep under water on Friday, having suffered its steepest fall in three years after the European Central Bank stunned markets by cutting interest rates and embarking on a trillion-euro asset-buying binge. The aggressive shift sent short-term bond yields into negative territory in Germany, France, the Netherlands and Austria, giving investors an overwhelming incentive to sell euros for higher-yielding assets elsewhere. That stood in stark contrast to the United States, where upbeat data […]
