Record low rates deliver competitive advantages to Australia’s biggest banks: regulator

Record low rates deliver competitive advantages to Australia’s biggest banks: regulator
SYDNEY (Reuters) – Australia’s banking watchdog on Friday said record-low interest rates are likely to benefit the country’s “Big Four” lenders over their smaller counterparts due to their better capital position and access to cheaper funds. FILE PHOTO: A man uses his mobile phone as he leaves the Commonwealth Bank of Australia building in central Sydney, Australia, February 7, 2018.... Read More

Asian shares advance on U.S.-China trade progress, ECB easing

Asian shares advance on U.S.-China trade progress, ECB easing
TOKYO (Reuters) – Asian stocks advanced on Friday as hints of progress in U.S.-China trade talks and aggressive stimulus from the European Central Bank helped counter worries about a global economic slowdown. FILE PHOTO: A man points out an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, May 14, 2019. REUTERS/Kim Kyung-hoon MSCI’s broadest index... Read More

White House moving forward to strip California of vehicle authority: sources

White House moving forward to strip California of vehicle authority: sources
WASHINGTON (Reuters) – The Trump administration is moving forward with a plan to revoke California’s authority to set its own vehicle greenhouse gas standards and declare that states are pre-empted from setting their own vehicle rules, three people briefed on the matter said on Thursday. FILE PHOTO: Morning commuters travel in rush hour traffic towards Los Angeles, California, U.S., March... Read More

Asian shares advance on U.S.-China trade hopes, ECB stimulus

Asian shares advance on U.S.-China trade hopes, ECB stimulus
TOKYO (Reuters) – Asian stocks advanced on Friday as hints of progress in the U.S.-China trade dispute and aggressive stimulus from the European Central Bank helped to counter worries about a global economic slowdown. FILE PHOTO: A man points out an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, May 14, 2019. REUTERS/Kim Kyung-hoon MSCI’s... Read More

Trump says he will unveil ‘middle-income’ tax plan in 2020

Trump says he will unveil ‘middle-income’ tax plan in 2020
U.S. President Donald Trump speaks at the 2019 House Republican Conference Member Retreat dinner in Baltimore, Maryland, U.S., September 12, 2019. REUTERS/Leah Millis BALTIMORE, Md (Reuters) – U.S. President Donald Trump said on Thursday his administration would unveil a tax overhaul plan aimed at middle-income households next year, amid the 2020 presidential election. “We’ll be announcing it sometime in the... Read More

U.S.-China trade war risks driving Fed policy, not Trump’s carping: economists

U.S.-China trade war risks driving Fed policy, not Trump’s carping: economists
(Reuters) – The U.S.-China trade war will worsen or at best stay the same over the coming year, according to economists in a Reuters poll who expect the Federal Reserve to cut interest rates next week for the second meeting in a row. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019.... Read More

Trump favors ‘whole deal’ with China, two sides prepare for trade talks

Trump favors ‘whole deal’ with China, two sides prepare for trade talks
WASHINGTON (Reuters) – President Donald Trump said on Thursday he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an “easy” agreement would not be possible. “I’d rather get the whole deal done,” Trump told reporters at the White House. “I see a lot of analysts are... Read More

U.S. House panel wants Boeing CEO to allow employee interviews on 737 MAX crashes

U.S. House panel wants Boeing CEO to allow employee interviews on 737 MAX crashes
WASHINGTON (Reuters) – Congress on Thursday asked Boeing Co’s chief executive to make several employees available for interviews as part of a congressional probe into the design, development and certification of 737 MAX aircraft involved in two crashes that killed 346 people. FILE PHOTO: Boeing Co Chief Executive Dennis Muilenburg in Chicago, Illinois, U.S., April 29, 2019. Jim Young/Pool via... Read More

U.S. corruption probe involving lavish parties, champagne hits another top UAW official

U.S. corruption probe involving lavish parties, champagne hits another top UAW official
DETROIT/WASHINGTON (Reuters) – Just two days before the UAW’s contracts with Detroit automakers were due to expire, U.S. prosecutors arrested and charged a senior union official on Thursday with embezzlement, releasing a complaint that alleges he spent member dues on lavish parties for union leaders, with liquor, cigars and women to light them. FILE PHOTO: The UAW logo is seen... Read More