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US homebuilder confidence holds steady in November
U.S. homebuilders' confidence in the housing market held steady this month, but many are worried that another fight over the federal budget could cause would-be buyers to put off home purchases. Read more here: US homebuilder confidence holds steady in November Read More →
Wells Fargo faces tighter controls as U.S. regulator reverses course
By Patrick Rucker WASHINGTON (Reuters) – A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal Read more: Wells Fargo faces tighter controls as U.S. regulator reverses course Read More →
Asian export nations wary dollar boost gives Trump pretext to beat them
TOKYO/SEOUL (Reuters) – Asian currency policymakers are worried that the strengthening of the dollar on expectations of U.S. President-elect Donald Trump's fiscal policies could be used by his administration as a stick to beat them with on trade protectionist grounds. China, Japan, South Korea and Taiwan are already on the U.S. Treasury&#… Read more from the original source: Asian... [Read more]
Pacific rim leaders eye China lead on trade after Trump win
By Rosalba O'Brien and Teresa Cespedes LIMA (Reuters) – Leaders of Pacific rim nations gathered in Peru on Friday, looking to China to salvage hopes for regional trade as prospects of a Donald Trump presidency in the United States sounded a possible death knell for the Trans-Pacific Partnership (TPP) free trade pact. Discussions between the 21 members of the Asia… Here is the original: Pacific... [Read more]
Thai CPF to buy U.S. frozen-food firm Bellisio in $1.08 billion deal
BANGKOK (Reuters) – Thailand's Charoen Pokphand Foods Pcl (CPF) said it will acquire U.S. frozen-food producer Bellisio Parent LLC for $1.075 billion, paving the way for an entry into the world's Read more here: Thai CPF to buy U.S. frozen-food firm Bellisio in $1.08 billion deal Read More →
Elon Musk-backed AI startup and Microsoft sign cloud agreement
(Reuters) – OpenAI, the non-profit artificial intelligence (AI) research firm backed by Tesla Motors Inc’s Elon Musk and other prominent tech executives, has signed an agreement to run most of its large-scale experiments on Microsoft Corp’s flagship cloud service, Azure. OpenAI will use Azure for its experiments in deep learning and AI, and Microsoft will collaborate with the company... [Read more]
Strong U.S. retail sales reinforce December interest rate hike
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month. The Commerce Department said … Continued here: Strong U.S. retail sales reinforce December interest rate hike Read More →
Obama officials work against time to wrap banking rules
U.S. officials are striving to put finishing touches on a slew of banking rules before President Barack Obama leaves office and hands regulatory power to Donald Trump who has vowed to rewrite the existing financial rule book. President-elect Trump will take over on Jan. 20 and his fellow Republicans will have control of Congress and government agencies, allowing the new administration to block or... [Read more]
South Korea prosecutors question heads of conglomerates in probe over political scandal: Yonhap
South Korean prosecutors have questioned the heads of some large conglomerates, including the chairman of Hyundai Motor , and plan to question the de factor head of Samsung Group and others in a probe into a political scandal involving President Park Geun-hye, media reports said on Sunday. A Hyundai Motor spokesman declined… Read more: South Korea prosecutors question heads of conglomerates... [Read more]
Toyota to settle U.S. truck rust lawsuit for up to $3.4 billion
(Reuters) – Toyota Motor Corp has agreed to a settlement of up to $3.4 billion for a federal class action brought by U.S. owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have said in court papers. The proposed settlement covers about 1.5 million Tacoma compact pickups, Tundra full-size pickups and Sequoia SUVs alleged to have received inadequate rust protection... [Read more]