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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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Business court KKR spending 

U.S. to seek to block DraftKings, FanDuel fantasy sports merger

June 19, 2017 WASHINGTON (Reuters) – The U.S. Federal Trade Commission said on Monday it will seek to stop the merger of DraftKings and FanDuel, because the combined company would control more than 90 percent of the U.S. market for paid daily fantasy sports contests. The FTC, along with the attorneys general of California and the District of Columbia, will file a complaint in federal district court seeking a preliminary injunction to block the deal, the antitrust regulator said. The companies said in a joint statement that they were considering…

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case Column Yes Money spending SSDI Top News 

Column: Yes, disability insurance really is part of Social Security

June 15, 2017 By Mark Miller CHICAGO (Reuters) – Quiz time: what do the letters “SS” stand for in SSDI? If your answer is “Social Security,” congratulations. You know that Social Security Disability Insurance is part of Social Security. That seems obvious, but the Trump administration wants you to think otherwise. “If you ask 999 people out of 1,000, (they) would tell you that Social Security disability is not part of Social Security,” Mick Mulvaney, the administration’s budget director, said in May at a press briefing on its 2018 spending…

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Business internet Juniper Networks spending Tech Top News 

Nokia targets gains from web giants with fastest routers

June 14, 2017 By Eric Auchard SAN FRANCISCO (Reuters) – Nokia launched the world’s fastest network chips on Wednesday, breaking into the Juniper and Cisco dominated core router market and giving its existing network business a boost. The new traffic routers can handle the greater demands of virtual reality programming, cloud-based internet services and next-generation mobile communications, the Finnish company said. Nokia’s new products, which grew out of its 15.6 billion-euro ($17.5 billion) 2016 acquisition of Alcatel and its IP network gear business, should help it win business from companies…

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bank Business Saudi Arabia Saudi Aramco spending 

Morgan Stanley CEO says Saudi Arabia could be ‘major opportunity’

June 14, 2017 By Olivia Oran (Reuters) – Morgan Stanley CEO James Gorman said Saudi Arabia could be a “major opportunity” for the firm as the country unveiled plans for oil giant Saudi Aramco’s $100 billion initial public offering and introduced a series of reforms to attract foreign capital in 2015. Gorman, speaking at the bank’s financials conference in New York, said he has personally been spending a significant amount of time in Saudi Arabia, as has President Colm Kelleher. In May, several U.S.-based bank CEOs including Gorman, JPMorgan Chase…

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Business consumer economic growth month spending 

Weak U.S. retail sales, consumer prices put spotlight on Fed

June 14, 2017 By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales in May recorded their biggest drop in 16 months and consumer prices unexpectedly fell, suggesting a softening in domestic demand that could limit the Federal Reserve’s ability to continue raising interest rates this year. The Fed is expected to increase borrowing costs later on Wednesday, but the signs of moderate consumer spending and retreating inflation pressures could worry policymakers who have previously viewed the softness as transitory. “It won’t stop the Fed from hiking interest rates later today,…

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Business Eric Holder Joseph Menn report spending 

Uber CEO Kalanick likely to take leave, SVP Michael out: source

June 12, 2017 By Heather Somerville and Joseph Menn SAN FRANCISCO (Reuters) – Uber Technologies Inc [UBER.UL] Chief Executive Travis Kalanick is likely to take a leave of absence from the troubled ride-hailing company, but no final decision has yet been made, according to a source familiar with the outcome of a Sunday board meeting. Emil Michael, senior vice president and a close Kalanick ally, has left the company, the source said. At the Sunday meeting, the company’s board adopted a series of recommendations from the law firm of former…

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Business Eric Holder Joseph Menn report spending 

Uber board adopts all recommendations from Eric Holder investigation

June 12, 2017 By Heather Somerville and Joseph Menn SAN FRANCISCO (Reuters) – The Uber Technologies Inc [UBER.UL] board of directors has voted unanimously to adopt all recommendations from a report stemming from allegations of sexual harassment at the company and other employee concerns, a board representative said on Sunday. The board, at a meeting on Sunday, adopted a series of recommendations from former U.S Attorney General Eric Holder following a sprawling, multi-month investigation into Uber’s cultures and practices. The recommendations will be released to Uber employees on Tuesday, the…

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Cabinet Office economic growth Economy month spending Top News 

Japan core machinery orders fall more than forecast in sign of economic fragility

June 12, 2017 By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s core machinery orders fell more than expected in April, casting doubt on the strength of companies’ capital spending and adding to concerns about the country’s fragile economic recovery. The 3.1 percent fall in the core orders from a month earlier was much bigger than the 1.3 percent decline expected by economists in a Reuters poll, potentially dragging on economic growth in the current quarter. It also marked the first drop in three months, following a 1.4 percent increase in March,…

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consumer Economy election spending Top News UK 

UK consumer spending falls for first time in nearly 4 years: Visa

June 12, 2017 LONDON (Reuters) – British consumers cut their spending for the first time in nearly four years last month, figures from credit card firm Visa showed, as households turned more cautious even before last week’s shock election result. Consumer spending in May was 0.8 percent lower than in the same month in 2016 after adjusting for inflation, the first year-on-year fall since September 2013, Visa said on Monday. Sales fell by a hefty 1.9 percent in monthly terms. “Our index clearly shows that with rising prices and stalling…

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