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Business consumer economic growth Heidi Heitkamp Wall Street 

U.S. regulators, lawmakers support Volcker rule revamp at hearing

June 22, 2017 By Pete Schroeder WASHINGTON (Reuters) – U.S. financial regulators and lawmakers who appeared at a congressional hearing on Thursday generally agreed that the Volcker rule, which restricts banks’ ability to make bets with their own money, needs to be reconsidered. The rule should focus only on banks that do a lot of trading, said Federal Reserve Governor Jerome Powell, who leads banking regulation for the central bank. “We believe we have the authority to draw a line between those with the big trading books (and other banks),”…

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Business IG rates Wall Street XAU 

Stocks advance on modest oil bounce

June 22, 2017 By Chuck Mikolajczak NEW YORK (Reuters) – World stock markets edged higher on Thursday, buoyed by a modest rebound in oil prices after the commodity hit 10-month lows, while the U.S. yield curve managed to stall its recent flattening. Oil edged up from November lows hit in the prior session, when U.S. crude hit its lowest intraday level since August 2016, sentiment remained negative from a supply glut that has persisted despite OPEC-led efforts to balance the market. U.S. crude rose 0.75 percent to $42.85 per barrel…

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Business IG rates Wall Street XAU 

Asian stocks climb as oil crawls up from 10-month low

June 22, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian stocks advanced on Thursday as oil prices inched up after hitting a 10-month low overnight on concerns over a supply glut and falling demand, dragging U.S. and European shares lower. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent. Japan’s Nikkei and South Korea’s KOSPI were flat, while Australian shares rose0.4 percent. Crude oil crept up from multi-month lows hit on Wednesday on concerns over growing U.S. production and reduced Chinese refinery activity. “The time for contrarian…

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bank change energy Tech Top News Wall Street 

Low U.S. inflation? It’s your phone: BlackRock bond manager

June 21, 2017 NEW YORK (Reuters) – Americans’ love of their smartphones and apps may be contributing to the sluggish pace of inflation that is worrying Wall Street and the Federal Reserve, a top bond manager at BlackRock, the world’s biggest asset manager, said on Wednesday. Consumers are relying less and less on devices such as cameras, radios and televisions, and services such as taxis and stores, replacing them with programs in their iPhones and other high-end phones, according to Rick Rieder, BlackRock’s chief investment officer of global fixed income….

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Asia Business consumer Wall Street XAU 

Asia stocks shake off Wall St. blues, sterling steady pre-Brexit talks

June 19, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian stocks rose on Monday, shaking off Wall Street’s subdued performance on Friday, and sterling was steady after a van rammed into worshippers leaving a London mosque, killing at least one person, as markets braced for the start of Brexit talks. European stock markets were set for a strong start to the week, with financial spreadbetter CMC Markets expecting Britain’s FTSE 100 to open 0.6 percent higher, France’s CAC 40 to be up 0.3 percent and Germany’s DAX 0.2 percent. MSCI’s…

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Asia Business Japan rates Wall Street 

Asia stocks steady after Wall St tech rout, dollar holds gains

June 16, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian stocks were steady on Friday, appearing to take in stride the resumption of the U.S. technology rout overnight, while the dollar held near a two-week high after solid economic data backed the case for tighter U.S. monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, on track to end the week down 0.7 percent. Japan’s Nikkei jumped 0.5 percent, narrowing its loss for the week to 0.4 percent. Overnight, the Nasdaq led losses on Wall Street with…

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Facebook IPO report Tech Top News Wall Street 

Snap sinks to IPO price for first time since market debut

June 15, 2017 By Noel Randewich SAN FRANCISCO (Reuters) – Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors’ loss of confidence in the social media company that faces fierce competition from Facebook. The owner of Snapchat – a mobile app that lets users capture video and pictures that self-destruct after a few seconds – ended at $17.00, the price set in its March initial public offering that was the hottest U.S. technology listing in years. Snap climbed to $29.44 in the…

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Asia bank Business GMT Wall Street 

Asia shares encouraged by Wall St. record, await Fed outlook

June 14, 2017 By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve’s future path for U.S. policy after a likely rate rise later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan’s Nikkei put on 0.5 percent. Markets took their lead from the Dow , which rose 0.44 percent, while the S&P 500 gained 0.45 percent and the Nasdaq 0.73 percent.[.N] The…

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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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Asian stocks stumble, oil creeps up as markets ponder fallout of Mideast tension

June 6, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian stocks retreated on Tuesday after Wall Street’s stumble overnight, while oil inched up from the previous day losses as lower Libyan oil production assuaged concerns that the severing of ties with Qatar by other Arab states could impede a deal to cut crude output. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early trade, pulling back from a two-year high hit on Monday. Japan’s Nikkei dropped 0.4 percent. South Korean markets were closed for a holiday….

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