kansas-city

U.S. agency rolls out refinance program for homeowners

The regulator of Fannie Mae and Freddie Mac unveiled on Thursday a program aimed at homeowners who are paying their mortgages on time but whose loan-to-value (LTV) ratios are too high to qualify for traditional refinance …

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U.S. agency rolls out refinance program for homeowners

kansas-city

As central bankers gather, some at Fed make rate-hike case

As central bankers converge on this mountain resort Thursday for an annual conference on monetary policy, a couple of top Federal Reserve officials took the chance to renew a push for interest-rate hikes, citing improvement in employment and inflation. “The case is strengthening” for a rate hike, Dallas Fed President Robert Kaplan told CNBC, whose open-air studio here overlooks the craggy peaks of the Grand Teton National Park. “And you should conclude from that in the not-too-distant future … …

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As central bankers gather, some at Fed make rate-hike case

kansas-city

Federal Reserve under growing pressure to reform system, goals

The U.S. Federal Reserve has two guiding goals when designing monetary policy: maximum employment and stable inflation. At this year's flagship economic policy conference, from Aug. 25 to 27, U.S policymakers will confer not only with their counterparts from around the world but also host…

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Federal Reserve under growing pressure to reform system, goals

kansas-city

Twinkies maker Hostess to go public under new owner

The Kansas City, Missouri-based snack cake company, which was founded in 1919, will be acquired by Gores Holdings Inc , a special purpose acquisition company (SPAC). Including debt, the total value of the deal is about $2.3 billion, Hostess said. The company's products, especially the golden, cream-filled Twinkies cakes, are ingrained in American pop culture and have long been packed in children's lunch boxes.

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Twinkies maker Hostess to go public under new owner

kansas-city

IMF cuts global growth outlook again, warns of political risks

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and growing economic inequality as it cut its global growth forecast …

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IMF cuts global growth outlook again, warns of political risks

kansas-city

Two Fed bank presidents backed rate hike ahead of last meeting

The heads of two regional Federal Reserve banks supported a rate hike ahead of the Fed's March meeting as an improving economy added to sentiment to tighten monetary policy. The heads of the Richmond and Kansas City Fed branches supported a quarter point hike in the main lending rates for banks “in light of continued improvements in labor market conditions and expectations that inflation would rise,” according to …

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Two Fed bank presidents backed rate hike ahead of last meeting

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BMW, Volkswagen, Daimler recall vehicles in U.S. with Takata air bags

FRANKFURT/WASHINGTON (Reuters) – The three largest German automakers said they will recall 2.5 million vehicles in the United States equipped with Takata Corp air bags, the latest moves in a long-running safety crisis involving the Japanese automotive supplier. On Wednesday, Volkswagen AG said it would recall 850,000 vehicles and BMW said it would recall 840,000 vehicles. The vehicles to be recalled have Takata-made air bag inflators that

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BMW, Volkswagen, Daimler recall vehicles in U.S. with Takata air bags

kansas-city

Fed’s Fischer worried by emergency credit reporting rules

A top Federal Reserve policymaker on Wednesday expressed concern that U.S. reforms enacted after the global financial crisis may have made it harder to stem a credit market panic, a warning that came…

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Fed’s Fischer worried by emergency credit reporting rules