Australia tells Facebook and Google to commit to competition rules, or else

Australia tells Facebook and Google to commit to competition rules, or else
SYDNEY (Reuters) – Australia said on Thursday technology giants such as Facebook Inc (FB.O) and Google (GOOGL.O) will have to agree to new rules to ensure they do not abuse their market power and damage competition, or the government will impose new controls on them. FILE PHOTO: Attendees walk past a Facebook logo during Facebook Inc’s F8 developers conference in... Read More

Asian shares rise as Fed cheer offsets trade, UK angst

Asian shares rise as Fed cheer offsets trade, UK angst
TOKYO (Reuters) – Asian stocks edged higher on Thursday after the Federal Reserve signaled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-U.S. trade talks kept investors cautious. FILE PHOTO: A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China... Read More

High-stakes White House meeting expected Thursday to debate U.S.-China tariffs: sources

High-stakes White House meeting expected Thursday to debate U.S.-China tariffs: sources
WASHINGTON (Reuters) – U.S. President Donald Trump is expected to meet with top trade advisers on Thursday to discuss planned Dec. 15 tariffs on some $160 billion in Chinese goods, three sources familiar with the plans said, as markets braced for potential negative impacts. FILE PHOTO: U.S. President Donald Trump speaks during a Hanukkah reception in the East Room of... Read More

FAA probes Boeing 737 MAX production, says it won’t approve jets’ return this year

FAA probes Boeing 737 MAX production, says it won’t approve jets’ return this year
WASHINGTON/SEATTLE (Reuters) – The U.S. Federal Aviation Administration said on Wednesday it was investigating production issues involving Boeing Co’s 737 MAX and confirmed the agency will not approve the grounded commercial jet for flight before year end. At a hearing before U.S. lawmakers, FAA chief Steve Dickson cited a series of steps that still must be completed before 737 MAX... Read More

Continental Resources founder Hamm to step down as CEO

Continental Resources founder Hamm to step down as CEO
(Reuters) – Legendary U.S. oilman Harold Hamm, who once called the Organization of the Petroleum Exporting Countries a “toothless tiger,” will step down as chief executive of Continental Resources (CLR.N) and become its executive chairman, the company said on Wednesday. FILE PHOTO: Harold Hamm of Continental Resources introduces himself at a dinner for business leaders hosted by U.S. President Donald... Read More

Fed keeps rates on hold, points to ‘favorable’ economic outlook next year

Fed keeps rates on hold, points to ‘favorable’ economic outlook next year
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election. Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, U.S., December 11, 2019.... Read More

Home Depot says peak investments to pressure 2020 margins

Home Depot says peak investments to pressure 2020 margins
(Reuters) – Home Depot Inc (HD.N), the No. 1 U.S. home improvement chain, on Wednesday forecast 2020 sales below Wall Street expectations and said major investments in its online overhaul program would pressure margins next year. The logo of Down Jones Industrial Average stock market index listed company Home Depot is seen in Encinitas, California April 4, 2016. REUTERS/Mike Blake... Read More

Fed keeps interest rates on hold amid ‘favorable’ economic outlook

Fed keeps interest rates on hold amid ‘favorable’ economic outlook
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year’s presidential election. Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, U.S., December 11, 2019.... Read More