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U.S. slaps export curbs on China’s ZTE over alleged Iran scheme
The United States is imposing export restrictions on China's ZTE Corp and three other entities over an alleged scheme developed by the telecoms equipment maker to re-export controlled items to Iran, contrary to U.S. law, according to a U.S. notice on Monday. The U.S. Commerce Department, in the public notice, cited ZTE documents that showed the mobile handset maker planned to use shell companies... [Read more]
China lays out its vision to become a tech power
China aims to become a world leader in advanced industries such as semiconductors and in the next generation of chip materials, robotics, aviation equipment and satellites, the government said in its blueprint for development between 2016 and 2020. In its new draft five-year development plan unveiled on Saturday, Beijing also said it aims to use the internet to bolster a slowing economy and make the... [Read more]
VW chairman, CEO knew of defeat devices early: Bild
Volkswagen AG's current chairman and chief executive were alerted by the carmaker's former CEO to the use of illicit emissions-control software in the United States two weeks before the carmaker disclosed the scale of its manipulations, Bild am Sonntag reported, without citing the source of the information. Martin Winterkorn, who resigned within a week of Volkswagen's (VW) biggest-ever... [Read more]
U.S. economic activity expanded, but conditions mixed: Fed
U.S. economic activity continued to expand in most districts from early January to late February but conditions varied considerably across regions and within sectors, the Federal Reserve said on Wednesday. The decidedly mixed picture illustrates the headache Fed policymakers face when they next meet to decide the path of interest rates on March 15-16. Consumer spending increased in Original post: U.S.... [Read more]
Fed’s Dudley sees risks to U.S. economic outlook tilting to downside
An influential Federal Reserve official on Tuesday said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed's next interest-rate hike than he and his colleagues had earlier signaled. “At this moment, I judge that the balance of risks to my growth and inflation outlooks may be starting to tilt slightly to the downside,” New... [Read more]
Sam’s Club hires regional buyers, sees ‘local’ food as key in upscale shift
Sam's Club, the warehouse club unit of Wal-Mart Stores Inc, is building a team of regional U.S. buyers to bring in more local and organic groceries, a strategy used by … The rest is here: Sam’s Club hires regional buyers, sees ‘local’ food as key in upscale shift Read More →
EPA requests information from Mercedes-Benz over emission levels
Daimler on Sunday said the United States Environmental Protection Agency (EPA) had requested information from its luxury car brand Mercedes-Benz to explain emissions levels in some of its cars. A spokesman for Daimler said they are fully cooperating with the request for information, and that Mercedes-Benz cars conform with all rules and norms. Read the original here: EPA requests information from... [Read more]
U.S. consumer spending, inflation data keep rate hikes on table
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending rose solidly in January and underlying inflation picked up by the most in four years, keeping Federal Reserve interest rate increases on the table this year. The growth outlook was further bolstered by steady consumer sentiment in February despite a recent stock market sell-off. The Go here to read the rest: U.S. consumer spending,... [Read more]
G20 communique says monetary policy alone cannot bring balanced growth
Policymakers from the world's top economies said on Saturday that the world needs to look beyond easy monetary policy to provide balanced growth. In a joint communique issued at the end of the two-day conference of G20 central bankers and finance ministers in Shanghai, participants repeated previous pledges not to engage in See the rest here: G20 communique says monetary policy alone cannot... [Read more]
New York judge grants request to depose Viacom CEO
The ruling was the latest in a lawsuit filed in November in Los Angeles by Redstone's ex-girlfriend Manuela Herzer, who has sued over her removal as the 92-year-old Redstone's health care agent in favor of Dauman. As part of that lawsuit, Herzer See more here: New York judge grants request to depose Viacom CEO Read More →