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Drop in U.S. consumer spending clouds Fed rate hike outlook

U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, fell 0.1 percent last month after accounting for inflation. “Consumers took a breather in August,” said Chris Christopher of IHS Global Insight

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Drop in U.S. consumer spending clouds Fed rate hike outlook

China factory activity expands again in September: official PMI

Activity in China's manufacturing sector expanded again in September, an official survey showed on Saturday, which may indicate that recent positive momentum can be sustained. After a significant pick-up in March, China's official PMI slipped, falling below 50 in July before showing expansion in August. Economists say the pattern over the past few months suggested sustained

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China factory activity expands again in September: official PMI

A Deutsche Bank settlement overshadows U.S. equities

Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. Deutsche shares traded in the United States hit a record low on Thursday, falling as much as 24 percent since the DOJ asked…

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A Deutsche Bank settlement overshadows U.S. equities

Germany’s Merkel cannot afford to bail out Deutsche Bank: media

By Georgina Prodhan FRANKFURT (Reuters) – German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, German media wrote on Saturday. The government denied a newspaper report on Wednesday that it was working on a rescue plan for Germany's biggest bank, as …

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Germany’s Merkel cannot afford to bail out Deutsche Bank: media

Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators plan to order Alphabet's Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine, an EU document showed. Google received a copy in April in which …

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

Oil prices down on profit-taking after two-day jump

Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut. NYMEX crude for November delivery was down 8 cents at $47.75. Both Brent and NYMEX

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Oil prices down on profit-taking after two-day jump

Judge takes over questioning ex-AIG chief Hank Greenberg

The New York judge weighing whether ex-AIG chief Maurice “Hank” Greenberg should be liable for accounting fraud on Thursday pressed the 91-year-old executive about why AIG had created an offshore entity for losses from a failed automotive warranty program. Greenberg was on the stand for the third day for allegedly engineering the offshore entity, known as Capco, to hide $200 million in underwriting losses from shareholders. The transaction is one of two at the heart of a 2005 case against…

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Judge takes over questioning ex-AIG chief Hank Greenberg

Goldman feels the heat in Asia as IPO engine slows

By Denny Thomas and Sumeet Chatterjee HONG KONG (Reuters) – Goldman Sachs failed to make it to the upper echelon of Asia's equity market fee earners for the first time in more than a decade, hit by a squeeze in fees that is prompting the U.S. bank to cut back jobs in the region. Goldman has shared dominance of the Asia Pacific equity capital market arena with UBS and Morgan Stanley since clinching the mandate for China's first privatisation in 1997.

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Goldman feels the heat in Asia as IPO engine slows

Google rebrands cloud business, adds more artificial intelligence

Alphabet Inc's Google said on Thursday it renamed its business-to-business cloud computing brand and enhanced some enterprise applications using artificial intelligence, the company's latest gambit to better compete with Amazon.com and Microsoft Corp. in the lucrative cloud business. Discussing the rebranded Google Cloud, Diane Greene, senior vice president of Google's enterprise business, said the company has made good progress courting customers and improving its technology. Cloud computing uses remote internet servers…

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Google rebrands cloud business, adds more artificial intelligence

Relief arrives for U.S. shale firms as OPEC folds in price battle

By Liz Hampton and Terry Wade HOUSTON (Reuters) – It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. The agreement effectively establishes a …

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Relief arrives for U.S. shale firms as OPEC folds in price battle

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