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Afghanistan Economy government President Trump security Top News 

The victor, the spoils? Trump eyes Afghanistan’s elusive mineral riches

August 21, 2017 By James Mackenzie KABUL (Reuters) – U.S. President Donald Trump is eyeing Afghanistan’s mineral wealth to help pay for a 16-year war and reconstruction efforts that have already cost $117 billion. Investors who have studied the country, one of the world’s most dangerous, say that is a pipe dream. Ever since a United States Geological Survey study a decade ago identified deposits later estimated to have a potential value of as much as $1 trillion, both Afghan and foreign officials have trumpeted the reserves as a likely…

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Economy GAAP reporting Securities Exchange Commission Thomson Reuters Top News 

Shift from non-GAAP bottom lines could be good for stock prices

August 19, 2017 By Noel Randewich SAN FRANCISCO (Reuters) – Investors worried about lofty stock-market valuations may take comfort in signs that companies in the benchmark S&P 500 index are padding their bottomlines less than they have in previous years. Recent changes to accounting standards and a crackdown last year by the Securities Exchange Commission are encouraging many companies to be more cautious about reporting metrics that do not adhere to Generally Accepted Accounting Principles (GAAP). The difference between S&P 500 companies’ GAAP net incomes and the adjusted versions of…

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Del Pino Economy Russian Special Report Top News Venezuela 

Venezuela’s PDVSA defends ‘perfect’ relationship with Russia

August 18, 2017 By Alexandra Ulmer CARACAS (Reuters) – Venezuela’s alliance with Russia is “perfect,” the president of state oil company PDVSA said on Friday, blasting what he said was a U.S.-led attempt to sully the growing ties between the two nations. Reuters last week published a Special Report revealing that Venezuela’s unraveling socialist government is increasingly turning to Russia for the cash and credit it needs to survive and offering prized state-owned oil assets in return, sources familiar with the negotiations told Reuters.(For the Special Report click https://reut.rs/2uMwAZD) Venezuela’s…

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Economy month policy rates Top News U.S. 

Getting to the core of global inflation

August 18, 2017 By Ross Finley LONDON (Reuters) – Stock markets have spent the year rising on bets of a resurgence in inflation, while central bankers trying to manage the global economy have spent the same time repeatedly reassuring everyone it’s just around the corner. Policymakers gathering at an annual monetary retreat in Jackson Hole, Wyoming in the coming week no doubt will be collectively pondering why the textbook rule that says low unemployment leads to labor shortages, then higher wages, and then in turn higher inflation, isn’t working. Yet…

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Beijing China Economy month National Bureau Top News 

China’s new home price growth continues to slow in July

August 18, 2017 By Yawen Chen and Ryan Woo BEIJING (Reuters) – Growth in new home prices slowed in China in July with Beijing prices down for a second straight month, reinforcing expectations of further slowing later this year. Government restrictions to keep prices in check weighed on larger cities, with July showing the slowest growth since August 2016. Smaller centers pulled back but remained robust. New home prices growth in Tier-3 cities fall to 0.6 percent from 0.9 percent in June, the National Bureau of Statistics (NBS) said in…

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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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Economy news policy Tareck Horchani Top News U.S. 

Dollar slips vs yen, dented by doubts over U.S. policy agenda

August 18, 2017 By Masayuki Kitano SINGAPORE (Reuters) – The dollar edged lower versus the yen on Friday, hampered by renewed investor concerns over the Trump administration’s ability to push forward its economic policy agenda. News of a deadly attack in Barcelona and speculation on Thursday over the possible departure of White House Economic Adviser Gary Cohn rattled markets, sparking a selloff in U.S. equities and stirring demand for safe haven bonds. A White House official said on Thursday that Cohn is remaining in his post. “It’s a pure risk-off…

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Economy EIA President Donald Trump Russian Top News U.S. 

Oil prices fall amid broader market selloff, despite tightening supplies

August 18, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell early on Friday as part of a broad-based selloff across markets and despite signs that crude markets are gradually tightening. Brent crude futures, the international benchmark for oil prices, were at $50.93 per barrel at 0031 GMT, down 10 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $47.02 a barrel, down 7 cents, or 0.2 percent. Oil traders said the crude falls came amid a selloff across many other…

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approval Economy Eric Walsh Editing Joint Committee Top News U.S. 

U.S., South Korea to start talks Tuesday in Seoul on trade pact

August 17, 2017 WASHINGTON (Reuters) – The United States plans to start negotiations with South Korea on Tuesday in Seoul on amending a five-year-old free trade agreement, U.S. Trade Representative Robert Lighthizer said on Thursday. Lighthizer announced plans on July 12 for the special session meeting of the Joint Committee under the U.S.-Korea (KORUS) Free Trade Agreement, months after U.S. President Donald Trump said he would either renegotiate or terminate what he called a “horrible” trade deal. Lighthizer and South Korean Trade Minister Kim Hyun-chong will open the meeting via…

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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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