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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 roll back many of the last-minute changes. Some rules are meant to flesh out the Dodd Frank Act of 2010 designed to …

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Obama officials work against time to wrap banking rules

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Election over, U.S. Congress pivots to lame-duck debate over spending

With a bitter election campaign finally over, the U.S. Congress will reconvene this week to try to set aside its partisan differences long enough to keep the government from closing. As President-elect Donald Trump shapes his administration, Republicans are expected to move away from initial plans for compromise funding legislation and opt instead for a short-term measure to keep the…

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Election over, U.S. Congress pivots to lame-duck debate over spending

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U.S. business spending tepid; labor market firming

By Lucia Mutikani WASHINGTON (Reuters) – New orders for U.S. manufactured capital goods unexpectedly fell in September amid weak demand for computers and electronic products, which could temper expectations for an…

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U.S. business spending tepid; labor market firming

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Qualcomm to buy NXP for $38 billion in biggest chip deal

Smartphone chipmaker Qualcomm Inc agreed to buy NXP Semiconductors NV for about $38 billion in the biggest-ever deal in the semiconductor industry, making it the leading supplier to the fast-growing automotive chips market. The acquisition will also help Qualcomm, which provides chips to Android smartphone makers and Apple Inc , reduce…

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Qualcomm to buy NXP for $38 billion in biggest chip deal

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Tesla says self-driving hardware to be built into all its cars

By Alexandria Sage SAN FRANCISCO (Reuters) – Chief Executive Elon Musk said on Wednesday all new Tesla Motors Inc models will come with hardware to enable them to be fully self-driving, as the Silicon Valley electric car company bids to be the first among many rivals to…

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Tesla says self-driving hardware to be built into all its cars

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Yahoo, ACLU press U.S. to disclose secret surveillance orders

By Joseph Menn SAN FRANCISCO (Reuters) – Yahoo Inc on Wednesday asked U.S. Director of National Intelligence James Clapper to declassify a surveillance order the company had received so it can respond to a Reuters report that it set up a special program last year to scan all Yahoo Mail users' incoming messages. Separately, the American Civil Liberties Union filed a motion before the U.S. Foreign Intelligence Surveillance Court asking it to release the Yahoo order and over 20 other significant rulings dating back more than a decade. Reuters …

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Yahoo, ACLU press U.S. to disclose secret surveillance orders

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Fed’s Williams sees ‘unsustainable tension’ on pot-related banking

RENO, Nev. (Reuters) – As more and more states legalize the use of marijuana, which is banned under U.S. federal laws, banks are facing “unsustainable tension” that needs to be resolved by Congress, San Francisco Fed President John Williams said on Tuesday. “This is a big issue for this country,” Williams said…

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Fed’s Williams sees ‘unsustainable tension’ on pot-related banking

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U.S. banks tell trading clients to brace for UK vote

U.S. banks including Bank of America Corp and Morgan Stanley are warning clients about the potential for extreme price moves as Britain prepares to vote on its membership of …

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U.S. banks tell trading clients to brace for UK vote

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Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

By Nichola Groom and Paul Lienert LOS ANGELES/DETROIT (Reuters) – Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc , made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 percent to $189.99 in extended trading – amounting to a loss in value of about $4.3 billion, or more than the value of the offer for the other company. Shares of SolarCity rose about 18 percent …

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Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

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Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen

The Federal Reserve's ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy is not faltering, Fed Chair Janet Yellen told lawmakers on Tuesday. …

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Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen

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