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Business debt month New York Trump 

Summer rumblings could herald a stormy fall for U.S. stocks

August 18, 2017 By Saqib Iqbal Ahmed and Megan Davies NEW YORK (Reuters) – The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues – such as raising the debt ceiling – awaiting the return of lawmakers to Washington. With September, typically the worst month in the year for stocks, on the doorstep, investors are likely to be…

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bank debt Economy month PDVSA Top News 

Venezuela’s PDVSA prepares to meet foreign debt commitment

August 18, 2017 CARACAS (Reuters) – Venezuelan state oil company Petroleos de Venezuela (PDVSA) has initiated bank transfers to meet its foreign debt commitments for the month, the company said in a statement on Thursday.     PDVSA, the main source of foreign exchange earnings for the South American country, must pay more than $3.0 billion in debts in the remainder of 2017.     “Banking transfers corresponding to the interest on the PDVSA 2022 bond coupon of 12.75 percent for $191.3 million have already begun,” the company said. “Thus, the state shows its…

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debt Economy Top News U.S. violence Virginia 

Dollar on defensive after Fed minutes dampen rate hike prospects

August 17, 2017 By Hideyuki Sano TOKYO (Reuters) – The U.S. dollar was on the defensive on Thursday after the minutes from the Federal Reserve’s last policy meeting showed policymakers were increasingly wary of recent softness in inflation and could delay a rate hike. The readout of the July 25-26 meeting showed some members called for halting interest rate hikes until it was clear the inflation trend was transitory, but it also indicated the Fed was poised to begin reducing its $4.2 trillion portfolio of bonds. The dollar also stepped…

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bank debt economic growth Economy gas Top News 

Malaysia seen posting slightly slower second-quarter growth on softer domestic demand

August 17, 2017 By Joseph Sipalan KUALA LUMPUR (Reuters) – Malaysia’s economy is expected to have grown at a slightly slower pace in the second quarter due to weaker private consumption, even as trade remained robust. Southeast Asia’s third-largest economy likely grew 5.4 percent in April-May from a year earlier, easing from 5.6 percent in the first quarter, according to the median of forecasts by 12 economists polled by Reuters. Growth in the first quarter was the strongest in two years, but the pace has been expected to fade, Vaninder…

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debt ETN Janus Henderson Group Money rates Top News 

Libor-tracking investments hit U.S. exchanges; complexity a worry

August 16, 2017 By Trevor Hunnicutt NEW YORK (Reuters) – Investors who place wagers on the direction of interest rates got a new set of U.S.-listed investment products on Wednesday, but their complexity may prove an obstacle to them gaining broad acceptance. VelocityShares Long LIBOR Exchange-Traded Notes and VelocityShares Short LIBOR ETNs track an index designed to mimic changes in the U.S. dollar-denominated London interbank offered rate (Libor), a widely used but potentially soon-to-be-extinct, interest-rate benchmark. Libor reflects banks’ estimate of what they would be charged to borrow money and…

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Americans Business debt New York Fed report 

Americans’ debt level notches a new record high

August 15, 2017 By Jonathan Spicer NEW YORK (Reuters) – Americans’ debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped. Total U.S. household debt was $12.84 trillion in the three months to June, up $552 billion from a year ago, according to a Federal Reserve Bank of New York report published on Tuesday. The proportion of overall debt that was delinquent, at 4.8…

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accounts debt industry Money report Top News 

Institutions beat individuals on the active investment fool’s errand: James Saft

August 9, 2017 By James Saft (Reuters) – Institutions do better than individuals at active fund management, but given that both come out losers the underlying message is that picking stocks and bonds is a game neither group should play. The vast majority of all mutual fund and institutional accounts failed to keep pace with their benchmarks over the past decade, according to a new report from S&P Dow Jones Indices examining the impact of fees. (https://us.spindices.com/documents/research/research-spiva-institutional-scorecard-how-much-do-fees-affect-the-active-versus-passive-debate.pdf) And while institutional accounts, owned by large and deep-pocketed investors with formal selection…

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Anjali Athavaley Business debt U.S. 

Altice weighing takeover offer for Charter: sources

August 9, 2017 By Liana B. Baker and Anjali Athavaley (Reuters) – Netherlands-based telecom conglomerate Altice NV and its U.S. cable unit are in the early stages of working on an offer to buy Charter Communications Inc , sources told Reuters on Wednesday, in a move that would build more scale in the United States. The proposed plan highlights an expected wave of consolidation in the telecom industry as cable companies look for additional ways to cut costs and grow with more U.S. consumers cutting their cords. It also illustrates…

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debt economic growth Economy government Japan Motegi Top News 

Japan’s economy minister pledges to stick to primary budget fiscal discipline target

August 9, 2017 By Stanley White TOKYO (Reuters) – Japanese Economy Minister Toshimitsu Motegi said he would do his utmost to help the government achieve its fiscal discipline target of returning to a primary surplus in fiscal year 2020. Motegi, in a group interview with reporters on Wednesday, said he wanted to return to a primary surplus while simultaneously lowering the ratio of outstanding debt to gross domestic product. Motegi said he placed equal priority on fiscal discipline and economic growth. Earlier this year the government made a subtle policy…

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AP CLEP debt Money Nate Sabat Top News 

Your Money: How college fast-trackers save time and money

August 1, 2017 By Chris Taylor NEW YORK (Reuters) – For most students, getting their college bachelor’s degree takes four years. For some, five. For Michelle Schroeder-Gardner? Three. The 28-year-old financial blogger from St. Louis graduated in business administration and management in 2010, and then later got a finance MBA. By stacking credits while still in high school and taking a heavy course load in college, she shaved a full year off her college experience at Webster University. “I saved at least $40,000,” she says. Schroeder-Gardner’s college-on-steroids experience is an…

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