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accounts China Economy PBOC spending Top News 

China not facing same pressure as Fed to shrink balance sheet: PBOC adviser

June 22, 2017 SHANGHAI (Reuters) – China’s central bank will not take action to shrink its balance sheet like the U.S. Federal Reserve as it does not face the same pressures due to its use of different policy tools, an adviser to the People’s Bank of China (PBOC) said on Thursday. The Fed is looking to start reducing its massive $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities beginning later this year. Most of the assets were purchased in the wake of the 2007-2009 financial crisis and recession. However,…

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accounts Alleged Canadian email Russian Tech Top News 

Alleged Canadian hacker may not fight U.S. extradition: lawyer

June 16, 2017 TORONTO (Reuters) – The Canadian accused of helping Russian intelligence agents break into email accounts as part of a massive 2014 breach of Yahoo accounts may waive his right to fight a U.S. extradition request, his lawyer said on Friday. Karim Baratov’s lawyer Amedeo DiCarlo said he is in discussions with the Federal Bureau of Investigation and U.S. prosecutors in Washington about the case and will announce a decision at a hearing due on July 7. Baratov, a Canadian citizen born in Kazakhstan, was arrested in March…

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accounts Florida Money New York state Top News 

Your Money: Money secrets of parents with multiple kids in college

June 15, 2017 By Beth Pinsker NEW YORK (Reuters) – Sometime soon after his fourth child was born, it dawned on Howard Krooks that he was going to be on the hook for 12 consecutive years of college tuition payments when they all grew up. It scared him into action. “I’m a planner. I don’t like surprises,” said Krooks, an elder law attorney in Boca Raton, Florida. Krooks figures he will spend upwards of $1 million to put four children through college. His oldest child is now 19 and attending…

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accounts Business increase month WASHINGTON 

U.S. factory output declines for second time in past three months

June 15, 2017 WASHINGTON, June 15 (Reuters) – U.S. factory output fell unexpectedly in May on a broad decline in production, including the manufacturing of cars, casting a shadow over the economy’s rebound from sluggishness at the start of the year. The Federal Reserve said on Thursday manufacturing production dropped 0.4 percent last month, the second decline in three months. After downward revisions to data for prior months, factory output was lower in May than it was in February. Analysts had expected factory output to rise a modest 0.1 percent….

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accounts China JD Tech Thailand Top News plans expansion into Thailand by end of year

June 9, 2017 By Julie Zhu and James Pomfret HONG KONG (Reuters) – Inc, China’s second-largest e-commerce company, plans to enter the Thai market later this year in a move to expand its overseas business beyond Indonesia, its founder and chief executive said on Friday. Richard Liu also told Reuters in an interview the company planned to use Thailand as a hub for servicing other Southeast Asian countries such as Vietnam and Malaysia. “Thailand will come soon, before the end of the year. We will invest a lot and…

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accounts case Entertainment NORRISTOWN Pennsylvania Top News 

Prosecutors seek to use Cosby’s words against him at sex assault trial

June 8, 2017 By Joseph Ax NORRISTOWN, Pa. (Reuters) – Prosecutors on Thursday sought to use Bill Cosby’s words against him at his sexual assault trial, showing interviews to jurors in which the comedian acknowledged giving his accuser pills before engaging in what he described as consensual “petting.” The introduction of Cosby’s own statements on the trial’s fourth day marked a new phase of the case after days of testimony from two of his accusers. Cosby, 79, faces charges that he drugged and sexually assaulted Andrea Constand, a former employee…

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accounts background Money news President Donald Trump Top News 

Ready, set, go: Retirement advice protections are here

June 8, 2017 By Mark Miller CHICAGO (Reuters) – Friday is the day, folks. Starting on June 9, all financial advisers providing guidance on retirement accounts must adhere to the new U.S. Department of Labor rule requiring that they act in your best interest rather than their own. The controversial rule survived a bruising seven-year battle against entrenched interests in the financial services industry, which were seeking to protect excess fees that cost retirement savers $17 billion a year – a full percentage point in annual returns, according to U.S….

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accounts California George Gagliardi Money Top News Wall Street 

Why women are better investors: study

June 7, 2017 By Chris Taylor NEW YORK(Reuters) – When it comes to industries, Wall Street is about as male-dominated as they come. So many people just assume that men are better investors. And they would be wrong. According to new data from financial services giant Fidelity Investments, women are actually superior investors. In sifting through more than 8 million investment accounts, Fidelity discovered that women not only save more than men, 0.4 percent, their investments earn more annually, also 0.4 percent. “It is a double whammy,” says Alexandra Taussig,…

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Trump’s blocking of Twitter users violates U.S. Constitution: rights institute

June 6, 2017 By Dustin Volz WASHINGTON (Reuters) – A free-speech institute on Tuesday sent a letter to President Donald Trump demanding the prolific tweeter unblock certain Twitter users on grounds the practice violates the First Amendment of the U.S. Constitution. Trump’s @realDonaldTrump account recently blocked a number of accounts that replied to his tweets with commentary that criticized, mocked or disagreed with his actions. Twitter users are unable to see or respond to tweets from accounts that block them. The Knight First Amendment Institute at Columbia University in New…

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Brazil court injunction freezes 800 million reais of JBS’ owner Joesley Batista

June 1, 2017 SAO PAULO (Reuters) – A Brazilian court on Thursday issued an injunction to freeze 800 million reais ($246 million) in banking accounts belonging to Joesley Batista, one of the owners of the world’s largest meatpacker, JBS SA . The federal court issued the injunction stating that the frozen funds may be used to repay allegedly ill-gotten gains in the foreign currency market one day before the disclosure on May 17 that Batista had reached a plea bargain with prosecutors in a sweeping graft probe. Batista’s accusations led…

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