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Brainard joins Fed chorus warning about fiscal stimulus risks
A leading Federal Reserve proponent of low interest rates said on Tuesday the U.S. central bank might hike rates more aggressively if deficit spending under the Trump administration produced a quick economic boost. “If fiscal policy changes lead to a more rapid elimination of slack, policy adjustment would, all else being equal, likely be more rapid,” Fed Governor Lael Brainard said at... [Read more]
South Korea prosecutor seeks arrest of Samsung chief for bribery
By Ju-min Park and Se Young Lee SEOUL (Reuters) – South Korea's special prosecutor on Monday sought a warrant to arrest the head of Samsung Group [SAGR.UL], the country's largest conglomerate, accusing him of paying multi-million dollar bribes to a friend of President Park Geun-hye. Investigators had grilled Samsung Group chief Jay Y. Lee for 22 straight hours last week as a suspect... [Read more]
China posts worst export fall since 2009 as fears of U.S. trade war loom
By Elias Glenn and Sue-Lin Wong BEIJING (Reuters) – China's massive export engine sputtered for the second year in a row in 2016, with shipments falling in the face of persistently weak global demand… View post: China posts worst export fall since 2009 as fears of U.S. trade war loom Read More →
Samsung Group leader Lee arrives at South Korea prosecution office for questioning
SEOUL (Reuters) – Samsung Group [SAGR.UL] leader Jay Y. Lee on Thursday arrived at the South Korean special prosecutor's office for questioning over bribery suspicions as part of a widening political scandal that may permanently unseat President Park Geun-hye. View original here: Samsung Group leader Lee arrives at South Korea prosecution office for questioning Read More →
Citigroup may benefit less from tax cuts than other U.S. banks
Citigroup Inc stands to get less of a profit boost than other big U.S. banks from lower corporate tax rates expected from the new government in Washington. A number of bank stock analysts have worked through broad tax proposals by Republicans and President-elect Donald Trump and estimate that a new tax law could increase Citigroup earnings per share only half as much as some rivals. At the same time,... [Read more]
Verizon executive says company unsure about Yahoo deal
Yahoo came under renewed scrutiny by federal investigators and lawmakers last month after disclosing the largest known data breach in history, prompting Verizon to demand better terms for its planned purchase. “I can't sit here today and say with confidence one way or another because we still don't know,” Marni Walden, president of product innovation and new businesses at Read... [Read more]
Exxon Mobil, Tillerson agree to cut all ties
If his appointment is confirmed, the value of more than 2 million deferred Exxon Mobil shares (worth about $182 million at Tuesday's closing price) that Tillerson would have received over the next 10 years will be transferred to an independently managed trust, the company said in a statement. The share awards will be … Excerpt from: Exxon Mobil, Tillerson agree to cut all ties Read More →
South Korea bans sales of some Nissan, BMW and Porsche models
South Korea has banned the sale of 10 models of Nissan, BMW and Porsche vehicles after the carmakers were found to have fabricated certification documents, in the latest fallout from the Volkswagen emissions scandal. The government announced in August that it would ban all 10 models after conducting an investigation into whether foreign carmakers besides Volkswagen… See the rest here: South... [Read more]
New drug approvals fall to six-year low in 2016
Last year turned out to be a disappointing one for new drug approvals with the U.S. Food and Drug Administration clearing just 22 new medicines for sale, the lowest number since 2010 and sharply down on 2015's tally of 45. Across the Originally posted here: New drug approvals fall to six-year low in 2016 Read More →
Sprint, OneWeb say 8,000 jobs announced by Trump are part of SoftBank pledge
By Richard Cowan PALM BEACH, Fla. (Reuters) – U.S. President-elect Donald Trump on Wednesday said telecommunications group Sprint Corp and a U.S. satellite company OneWeb will bring 8,000 jobs to the United States, and the companies said the positions were part of a previously disclosed pledge by Japan's SoftBank Group Corp. SoftBank holds stakes in both companies and its chief, billionaire… Read... [Read more]