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Apple urges U.S. government to form commission on encryption issues
Apple Inc on Monday urged the creation of a government panel on encryption to help resolve a standoff over national security and data privacy that erupted last week after the technology company refused a U.S. government demand to unlock an iPhone linked to one of the killers in a mass shooting in California in December. It was the latest move in a public and symbolic showdown between the … Go... [Read more]
China removes stocks regulator head after market woes
By Adam Jourdan SHANGHAI (Reuters) – China has removed the head of its securities regulator following a turbulent period in the country's stock markets, appointing a top state banking executive as his replacement, as leaders move to restore confidence in the economy. The announcement on the official Xinhua news agency on Saturday follows a string of assurances from senior leaders following... [Read more]
Buffett’s Berkshire Hathaway avoids S&P rating downgrade
Standard & Poor's on Friday left its “AA” credit ratings for Warren Buffett's Berkshire Hathaway Inc alone, saying the company's growing diversification and “modest” financial risks meant a downgrade was not necessary. Berkshire had been put on review for a possible downgrade on Aug. 11, on concern about Buffett's decision to deploy a large amount of... [Read more]
U.S. ramps up Apple offensive with new filing in iPhone unlocking case
By Dustin Volz and Julia Edwards WASHINGTON/LOS ANGELES (Reuters) – The U.S. Department of Justice filed a motion seeking to compel Apple Inc to comply with a judge's order for the company to unlock the iPhone belonging to one of the San Bernardino shooters, portraying the tech giant's refusal as a “marketing strategy.” The filing escalated a showdown between the Obama... [Read more]
Global downturn spurred Fed to consider changing rate path: minutes
By Jason Lange and Lindsay Dunsmuir WASHINGTON (Reuters) – Federal Reserve policymakers worried last month that a global slowdown and financial market selloff could hurt the U.S. economy and considered changing the central bank's planned interest rate hike path for 2016. Although most of the policymakers still expected to raise rates this year and even discussed a See the rest here: Global... [Read more]
Fed’s Kashkari, in first speech, suggests radical Wall St. overhaul
By Lindsay Dunsmuir and Jason Lange WASHINGTON (Reuters) – The U.S. Federal Reserve's newest policymaker and a former point man for the government's bailout of the financial industry on Tuesday called on lawmakers to take radical action to rein in banks and protect taxpayers. In his first speech as head of… Here is the original: Fed’s Kashkari, in first speech, suggests... [Read more]
Fed’s ‘dot plot’ looks increasingly out of touch on rates
The Federal Reserve's rate path “dot plot” has become increasingly detached from financial markets' interest-rate projections and risks sending an overly hawkish message that may undermine the central bank's credibility. Despite falling inflation … Originally posted here: Fed’s ‘dot plot’ looks increasingly out of touch on rates Read More →
Loeb says Third Point raised short bets to avoid losses
Billionaire investor Daniel Loeb has told clients his firm has taken more defensive bets in the face of tumbling markets by dramatically increasing its short positions, which helped Third Point avoid “calamitous” losses last year. The fund manager also said the firm cut stakes in companies that were exposed to China and commodity prices, which have fallen sharply. Loeb, whose $17.5 billion... [Read more]
Growing trust helps flurry of Sino-German deals
China has for years sought to buy in key technology rather than develop it at home more slowly, but attempts to reach deals have often failed. “The cultural dimension is very important,” said Frank-Christian Raffel, Munich-based partner in boutique advisory firm MelchersRaffel, which specialises in M&A deals between German-speaking and Asian countries. Here is the original: Growing... [Read more]
Yellen’s dilemma: a downturn with no easy response
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve's carefully scripted decision to raise interest rates last December, and begin a return to “normal” policy, may now become a nightmare for the U.S. central bank if an economic downturn forces a return to unconventional methods. Fed chair … Read more here: Yellen’s dilemma: a downturn with... [Read more]