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WASHINGTON U.S. consumer spending was unchanged in March for a second straight month and the overall monthly inflation rate fell for the first time in a year,confirming the weak domestic demand in the first quarter. But when adjusted for inflation consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.3 percent, ending two straight months of decline,the Commerce Department said on Monday. Economists […]

By Richard Cowan | WASHINGTON WASHINGTON Negotiators in the U.S. Congress reached a deal late on Sunday on around $1 trillion in federal funding that would avert a government shutdown later this week, while handing President Donald Trump a down payment on his promised military build-up. The full House of Representatives and Senate must still approve the bipartisan pact, which would be the first major legislation to […]

Besides the upcoming FOMC meeting on May 2-3, and French & Italian politics – the decisive runoff round of the French election takes place this Sunday – this week’s releases are dominated by US payrolls expected to come around 170k. The busy release calendar continues with Norges bank and RBA meetings as well as global manufacturing PMIs. The market’s focus during the week of 5/1 will begin […]

By Jessica Toonkel and Lauren Hirsch | NEW YORK NEW YORK Twenty-First Century Fox Inc (FOXA.O) is in talks with Blackstone Group LP (BX.N) about submitting an offer to buy Tribune Media Co (TRCO.N), one of the largest U.S. television station operators, sources familiar with the matter said on Sunday. Blackstone, the largest manager of private equity and real estate assets, would provide the cash, while Fox, […]

Hanging over discussion of Federal Reserve tightening has been a potentially market-shaking question: how to safely unwind the crisis-era asset purchases that bloated the central bank’s balance sheet.  Policymakers led by Janet Yellen, the Fed chair, have approached the topic gingerly, acutely aware of the potential to repeat the so-called taper tantrum of 2013, where ill-timed talk of slowing bond purchases roiled global markets.  Yet for all the […]

President Donald Trump was a distracting entertainment from the moment he launched his campaign in June of 2015 — until he wasn’t. His opening speech, in which he called Mexican immigrants “rapists” and told the world he would be the best jobs president “God ever created,” was looked at as the ravings of a man whose outsized ego was too big to be anything but hilarious.  News […]

Google Australia has confirmed that the Australian Taxation Office (ATO) is chasing it for a debt relating to unpaid tax, noting it will “lodge an objection” against the amended income tax assessments it was issued at year-end. “Such contingencies relate to reviews for open tax years as well as certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business,” […]

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April 30, 2017 by: Matthew Garrahan in New York Rupert Murdoch’s 21st Century Fox is in talks with Blackstone, the private equity firm, to launch a joint bid for Tribune Media, which owns a portfolio of US television networks, according to two people familiar with the negotiations. The two companies hope to trump a rival offer from Sinclair Broadcasting, another owner of US television networks. 21st Century […]

Late on Friday afternoon, the Commissioner of the Australian Federal Police waltzed out in front of the microphones and admitted that his agency had misused the metadata that the nation’s telecommunication companies are forced to store. It was a stunning admission. The nation had barely made it a fortnight since the deadline for telcos to have their data retention systems in place had passed, yet here was […]

‘Burdensome new regulatory regime’ During the most recent fiscal year, the government entered into or modified contracts with nearly 70,000 companies or their subsidiaries to deliver hundreds of thousands of distinct goods and services. To figure out which companies to hire, agencies begin by posting solicitations, usually on FedBizOpps.gov, where registered contractors can sift through opportunities. When an agency puts out a solicitation, dozens of companies might […]

A union representing 1,200 U.S. air maintenance workers at United Parcel Service Inc (UPS.N) turned up pressure on the company on Sunday to settle a three-year contract dispute, saying it would seek clearance to strike. The union is taking its grievances directly to UPS shareholders, running as an advertisement an open letter to David Abney, the company’s chief executive, ahead of a Thursday shareholders meeting. The letter, which has […]

By Ahmed Rasheed | BAGHDAD BAGHDAD A top Iraqi commander expects to dislodge Islamic State from Mosul in May despite resistance from militants in the densely populated Old City district. The battle should be completed “in a maximum of three weeks”, the Iraqi army’s chief of staff, Lieutenant General Othman al-Ghanmi, was quoted as saying by state-run newspaper al-Sabah on Sunday. A U.S.-led international coalition is providing […]

Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s Vice President and Prime Minister and Ruler of Dubai, launched on Saturday the UAE Soft Power Council, which aims to reinforce the country’s status and reputation in the world. The Council will define a comprehensive strategy to consolidate the UAE’s values of respect and appreciation with governments and citizens across the world, state news agency WAM reported. The UAE […]

U.S. President Donald Trump signed a new executive order on Friday, April 28 extending offshore oil and gas drilling to areas that had been off-limits. The move aims to increase domestic production, but it might not prove to be the best idea considering that industry demand for acreage has been rather low. The new executive order could expand offshore drilling to parts of the Pacific, Atlantic, and Arctic oceans, […]

Authored by Jeffrey Snider via Alhambra Investment Partners, Back on March 10, the New York Fed’s attempt at real-time GDP forecasting predicted that the Q1 2017 estimate would be 3.2%. That would have qualified as another decent quarter, the second out of the past three and somewhat in keeping with “reflation.” As we know today, the advance figure calculated by the Commerce Department amounted to just 0.69% […]

It has a granite fountain and a bosque of shade trees. And to some rightwing Americans, the new headquarters of the Consumer Financial Protection Bureau is a monument to all that went wrong under eight years of Barack Obama’s presidency. The budget for the refurbishment of the Washington DC building, at about $363 a square foot, makes it more expensive than the Venetian hotel in Macau or […]

President Donald Trump’s populist views, reality television stardom, and penchant for Twitter insults all but guaranteed an out-of-the-ordinary first 100 days for the billionaire political neophyte. A look at the data reveals how Mr Trump compares with previous Oval Office occupants. Bills signed into law Enacted legislation for last seven presidents in first 100 days Source: govtrack.us The White House touts that Mr Trump has accomplished more […]

When the Nasdaq Composite index first spent two days above the 5,000 mark, it signalled the last gasp of a spectacular bull market. Confidence in internet companies’ power to change the world and mint fortunes was about to collapse. Seventeen years later the market has hit a milestone of 6,000, part of a run of record highs for global equity markets. While stocks have again been rising […]

Nobody should ever attempt to judge an investment over a period of just 100 days. It is far too short a time to assess the quality of performance and far too prone to random effects. And in any case, most of us need results over very much more than 100 days. It is therefore a little random to be judging the Trump presidency’s impact on investors after […]

WASHINGTON The U.S. Congress passed and sent to President Donald Trump legislation to pay for federal government operations through May 5 and avoid agency shutdowns that otherwise would have begun on Saturday. The Senate approved the one-week extension of funding that the House of Representatives approved earlier on Friday. The legislation gives Congress another week to craft a deal on how approximately $1 trillion will be spent […]

Despite the proclaimed stand of Republican lawmakers to repeal and replace the Obamacare, or 2010 Affordable Care Act, the numbers are eluding the GOP (grand old party) lawmakers as factions within the party are divided on the matter. The GOP will require 216 votes to push their version of the healthcare bill. Factions, however, do not see eye to eye on many of the contentious issues incorporated […]

The US economy expanded at its weakest pace in three years during the opening months of the year, underlining the daunting task facing Donald Trump’s administration as it seeks to attain ambitious growth targets.  Gross domestic product grew at a 0.7 per cent annual rate in the first three months of 2017, according to the Bureau of Economic Analysis, a sharp drop from 2.1 per cent at […]

By Lucia Mutikani | WASHINGTON WASHINGTON The U.S. economy likely hit a soft patch in the first quarter as an unseasonably warm winter and rising inflation weighed on consumer spending, in a potential setback to President Donald Trump’s promise to boost growth. Reduced business investment in inventories and government spending cuts also crimped gross domestic product growth. A Reuters survey of economists conducted last week forecast GDP […]

CAIRO // The recent Palm Sunday attacks in Egypt that left dozens dead had no basis in faith and stood against the principles of all religions, Muslim and Christian leaders at a conference in Cairo said. Religious and political figures from across the globe were speaking on the first day of an international peace conference on Thursday co-organised by the UAE Muslim Council of Elders and Al […]

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