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Japan’s pitch for FX action meets cool G20, U.S. response

By Leika Kihara WASHINGTON (Reuters) – Japan's efforts to seek informal consent to act against an unwelcome yen rise bore little fruit, with the United States offering a cool response to concerns voiced by Tokyo that the currency's gains are too sharp and may justify intervention. A lack of G20 sympathy for Tokyo's appeal may embolden yen bulls to test the currency's 17-month highs against the dollar hit earlier this month, keeping Japanese policymakers …

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Japan’s pitch for FX action meets cool G20, U.S. response

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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

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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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U.S. posts $108 billion budget deficit in March

The U.S. government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday. The government had a deficit of $53 billion in

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U.S. posts $108 billion budget deficit in March

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Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has de-emphasized sales of the model which had been often sold to rental agencies. The company did not

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Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

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Swiss police raid UEFA as Panama Papers scandal spreads

ZURICH/REYKJAVIK, (Reuters) – Swiss police raided the European soccer body UEFA on Wednesday to seize information about a contract disclosed in the Panama Papers that was signed by Gianni Infantino, now head of the global soccer body FIFA. The impact of the leaked documents from a Panamanian law firm is snowballing, with Iceland facing a political crisis after its prime minister stepped aside on Tuesday following revelations about his wife's finances. Recently elected Infantino joined a growing list …

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Swiss police raid UEFA as Panama Papers scandal spreads

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U.S. weakens retirement advice rule, responding to industry

By Suzanne Barlyn and Lisa Lambert WASHINGTON (Reuters) – A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services industry. The rule, announced by the Department of Labor on Wednesday, sets a so-called fiduciary standard for financial brokers who sell retirement products, requiring them to put clients' best interests ahead of their bottom line. The language is tougher than an existing rule that …

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U.S. weakens retirement advice rule, responding to industry

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In oil rout, some U.S. energy bosses were spared the pain

By Ross Kerber and Michael Erman BOSTON/NEW YORK (Reuters) – More cash, lower targets and bigger share awards – not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks. Some oil and gas companies are making it easier for their top managers to meet performance goals or are offering more cash as a prolonged oil slump keeps share prices at lows not seen in five years, …

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In oil rout, some U.S. energy bosses were spared the pain

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AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

By Matt Spetalnick WASHINGTON (Reuters) – At least three major U.S. companies, AT&T Inc , Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc , are seeking to complete deals in Cuba as President Barack Obama prepares to visit Havana, a person familiar with the discussions said on Friday. It will be the first visit to Cuba by a U.S. president in nearly 90 years. AT&T is trying to complete a mobile communications agreement…

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AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit

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Oil down on U.S. refinery maintenance, OPEC doubts

By Barani Krishnan NEW YORK (Reuters) – Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance threatened to further raise record U.S. inventories of crude, while sources said an OPEC production freeze meeting was unlikely without Iran's participation. Crude

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Oil down on U.S. refinery maintenance, OPEC doubts

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