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U.S. trade deficit widens as exports hit five-and-a-half-year low
The Commerce Department said on Friday the trade gap increased 2.2 percent to $45.7 billion. December's trade deficit was revised up to $44.7 billion from the previously reported $43.4 billion. Economists polled by Reuters had forecast the trade deficit widening to $44.0 billion in January. Here is the original: U.S. trade deficit widens as exports hit five-and-a-half-year low Read More →
U.S. payrolls surge, bolster Fed rate hike prospects
U.S. employment gains surged in February, the clearest sign yet of labor market strength that could further ease fears the economy was heading into recession and allow the Federal … Originally posted here: U.S. payrolls surge, bolster Fed rate hike prospects Read More →
U.S. urges China to keep moving to a market-oriented exchange rate
U.S. Treasury Secretary Jack Lew said on Sunday that it was critical for China to continue moving toward a more market-oriented exchange rate and clearly communicate its actions to the market. Lew made the remarks during a meeting with Chinese Vice Premier Wang Yang in Beijing, following a G Read more: U.S. urges China to keep moving to a market-oriented exchange rate Read More →
Blackstone CEO took home $810.6 million in 2015
Blackstone Group LP Chief Executive Stephen Schwarzman took home $810.6 million in 2015, after the New York-based asset manager returned a record amount of cash to its shareholders following a wave of lucrative asset sales. The hefty payout represented a 17 percent rise in Schwarzman's earnings compared with 2014, in line with Original post: Blackstone CEO took home $810.6 million in 2015 Read More →
Apple files arguments in court opposing FBI iPhone request
(Reuters) – Apple Inc submitted a legal brief on Thursday opposing the U.S. government's attempt to force the technology company to unlock an encrypted iPhone belonging to one of the San Bernardino Read more from the original source: Apple files arguments in court opposing FBI iPhone request Read More →
As U.S. shale sinks, pipeline fight sends woes downstream
By Tom Hals WILMINGTON, Del. (Reuters) – Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. In the two court fights, U.S. energy producers are trying to use Chapter 11 bankruptcy protection to shed long-term contracts with the pipeline... [Read more]
Honeywell, United Technologies held merger talks: CNBC
(Reuters) – Aerospace component suppliers Honeywell International Inc and United Technologies Corp have held talks about a merger, CNBC reported on Monday, citing people familiar with the situation. United Tech's shares, part of the Dow Jones industrial average , jumped 6.6 percent to $93.90 in afternoon trading, while Honeywell's dipped 1.2 percent after earlier rising to… View... [Read more]
Volvo Cars recalls 59,000 cars over software fault
“We have no information that this has led to any accidents,” Volvo Car Group spokesman Stefan Elfstrom said. Elfstrom said owners of 2016 model 60 and 70 series cars were being told to take their vehicles to dealers to get the software fault corrected. The Gothenburg-based company was bought by China's Zhejiang Geely Holding Group Co. from Ford Motor Co. in 2010. Originally posted... [Read more]
Witnesses in Shkreli case worried about retaliation: U.S. prosecutors
U.S. prosecutors said several witnesses in the criminal securities fraud case against notorious former pharmaceutical executive Martin Shkreli are concerned about retaliation and have received threats from him in the past. Prosecutors cited the concern about witness intimidation in a brief filed late on Thursday… Originally posted here: Witnesses in Shkreli case worried about retaliation: U.S.... [Read more]
Firming U.S. inflation keeps Fed rate hike on the table
By Lucia Mutikani WASHINGTON (Reuters) – Rising rents and healthcare costs lifted underlying U.S. consumer price inflation in January by the most in nearly 4-1/2 years, providing support for the view that the… Read more here: Firming U.S. inflation keeps Fed rate hike on the table Read More →