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Fed’s Lockhart: Two rate hikes this year ‘certainly possible’, flags Brexit risk
The United States could see two further interest rate rises this year but uncertainties abound including the impact on the U.S. economy should Britain vote to leave the European Union, Atlanta Fed President Dennis Lockhart said on Tuesday. On that front, Lockhart said that incoming data between now and the Fed's next meeting on June 14-15 “is not comprehensive by any stretch of the imagination”... [Read more]
Asia’s factories stay sluggish, stimulus lacks traction
Japanese manufacturing activity shrank in April at the fastest pace in more than three years as deadly earthquakes disrupted production, while output in China and the rest of Asia remained lukewarm at best. “The backdrop remains one of sub-trend growth, inflation that is below target, difficulty … View post: Asia’s factories stay sluggish, stimulus lacks traction Read More →
Halliburton and Baker Hughes scrap $28 billion merger
Oilfield services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. It is the latest example of a large merger deal failing to make it Read the rest here: Halliburton and Baker Hughes scrap $28 billion merger Read More →
Daimler hires Deloitte for internal emissions probe
Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is to see if Daimler used devices to manipulate More here: Daimler hires Deloitte for internal emissions probe Read More →
German finmin criticizes Volkswagen management over bonuses: paper
Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. “I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and then defend their own bonuses in a public debate,” Schaeuble told... [Read more]
India’s Mallya says willing to reach ‘reasonable’ debt settlement: FT
Mallya, 60, flew first class from Delhi to London on March 2 at a time when the Indian government and mainly state-controlled banks are trying to recover $1.4 billion owed by his collapsed Kingfisher Airlines Originally posted here: India’s Mallya says willing to reach ‘reasonable’ debt settlement: FT Read More →
Amazon profit crushes estimates as cloud-service revenue soars
Amazon.com Inc on Thursday reported profit and revenue that blew past analysts' expectations, sending its shares soaring in after-hours trading and demonstrating the growing market power of its core retail business and new cloud services division. The results draw a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about... [Read more]
After massive drop, is Apple cheap enough?
By Rodrigo Campos NEW YORK (Reuters) – If Apple could cash in the value it lost in the first minute of trading on Wednesday, it would be nearly enough to buy General Motors, Target or Caterpillar. “I would not be surprised in… Here is the original: After massive drop, is Apple cheap enough? Read More →
Mitsubishi Motors used non-compliant data far longer than disclosed: source
By Naomi Tajitsu TOKYO (Reuters) – Mitsubishi Motors Corp used fuel economy testing methods that were not compliant with Japanese regulations since 1991 – much longer than previously known, a source briefed on the matter said. Japan's sixth-largest automaker has lost half of its market value – some $3.9 billion – since it admitted… More: Mitsubishi Motors used... [Read more]
U.S. workforce growth may give Fed one more reason to go slow on rates
By Jason Lange RALEIGH, N.C. (Reuters) – Americans with a high school education or less are returning to the labor force in larger numbers, a trend that points to a broadening of economic growth, but could also keep wage growth subdued and stay the Federal Reserve's hand in its hiking cycle. The Federal Reserve meets this week and is expected Read more here: U.S. workforce growth may... [Read more]