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WTO talks stuck again as ministers prepare to meet, Azevedo says
By Tom Miles GENEVA (Reuters) – World trade talks are deadlocked and ministers are unlikely to find a way out of the impasse when they meet in Nairobi next month, World Trade Organization Director-General Roberto Azevedo said on Thursday. “We clearly Go here to read the rest: WTO talks stuck again as ministers prepare to meet, Azevedo says Read More →
VW maintains $7 billion of provisions despite simple emissions fix
Volkswagen will not lower planned provisions of 6.7 billion euros ($7.1 billion) for the costs of its diesel emissions scandal, though the technical fix for 8.5 million cars in Europe have turned out to be simpler than expected. VW is seeking as much as 20 billion euros ($21.18 billion) in funding … More here: VW maintains $7 billion of provisions despite simple emissions fix Read More →
U.S. new home sales rebound strongly in October
September's sales pace was revised down to 447,000 units from the previously reported 468,000 units. Economists polled by Reuters had forecast new home sales, which account for about 8 percent of the housing market, rebounding to a rate of 500,000 units. Continued here: U.S. new home sales rebound strongly in October Read More →
Fed’s Yellen argues for interest rate caution in exchange with Nader
In a letter to Nader, the Fed chair repeated recent statements that the central bank should only gradually raise interest rates. “An overly aggressive increase in rates … would at undercut the economic expansion, necessitating a lasting return to low interest rates,” Yellen said in the letter. Nader published an open letter to Yellen on Oct. 30 that asked her to consider the “humble... [Read more]
Tight inventories, rising prices hurt U.S. home sales
By Lucia Mutikani WASHINGTON (Reuters) – U.S. home resales fell in October as a persistent shortage of properties limited choice for potential buyers and pushed up prices, suggesting some softening in the pace of the… See the rest here: Tight inventories, rising prices hurt U.S. home sales Read More →
Monetary policy risks becoming ineffective in low growth world: ECB Coeure
Monetary policy risks becoming ineffective in a world where growth is sluggish, economies are deeply interconnected and interest rates are already near zero, a top European Central Bank policy maker said on Saturday. Speaking at the University of California Berkeley, ECB executive board member Benoit Coeure called for academics and policy makers to address issues at the root of a global See the original... [Read more]
Exclusive: Pfizer, Allergan CEOs agree on combined company roles – sources
Pfizer Inc and Allergan Inc chief executives have agreed on the roles they would assume in a combined company, removing one of the last hurdles to the largest ever healthcare merger, people familiar with the matter said. Pfizer CEO Ian Read will be CEO of the combined company, while Allergan CEO Brent Saunders will have another very senior role, the people said on Friday, without providing more details.... [Read more]
Exclusive: Pfizer negotiating 2-3 percent Allergan break-up fee – sources
A break-up fee of that amount, to be paid by Pfizer if it were to walk away from the Allergan deal, would show confidence that the regulatory risk to the merger does not pose an existential threat, despite the U.S. Treasury planning this week to tighten the rules on corporate tax inversions, a key aspect of their plan. The break-up fee… More here: Exclusive: Pfizer negotiating 2-3 percent... [Read more]
NYSE-owner ICE to buy commodities trading platform for $650 million
(Reuters) – Intercontinental Exchange Inc , the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for about $650 million in stock. See the original post here: NYSE-owner ICE to buy commodities trading platform for $650 million Read More →
VW says CO2 cheats affect more petrol engines than previously disclosed
Volkswagen manipulated the carbon dioxide (CO2) emission levels of more petrol-powered vehicles than previously disclosed, a spokesman for the carmaker said on Monday. VW said on Nov. 3 it had understated the level of CO2 emissions in about 800,000 cars sold mainly Go here to read the rest: VW says CO2 cheats affect more petrol engines than previously disclosed Read More →