economy

MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge

By Lisa Lambert WASHINGTON (Reuters) – Federal regulators' decision to designate insurer MetLife Inc as “too big to fail” was “arbitrary and capricious,” the U.S. judge who struck down the determination last month wrote in an opinion that was unsealed on Thursday. The U.S. government plans to appeal the court decision, a Treasury spokesman said in a statement late on Thursday. Treasury Secretary Jack Lew said he strongly disagreed with the decision and the government would vigorously defend the work of the Financial Stability Oversight…

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MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge

economy

U.S. job market firming despite anemic economic growth

The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labor market continued to strengthen despite tepid economic growth. Initial claims for state unemployment benefits declined 9,000 to a seasonally adjusted 267,000 for the week ended …

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U.S. job market firming despite anemic economic growth

economy

U.S. judge sets April 21 deadline for VW diesel fix

By Alexandria Sage SAN FRANCISCO (Reuters) – A federal judge on Thursday gave Volkswagen AG and U.S. regulators until April 21 to agree on a fix for the nearly 600,000 diesel vehicles on U.S. roadways caught up in VW's massive emissions cheating scandal. U.S. District Judge Charles Breyer had earlier set a March 24 deadline for Europe's biggest automaker to explain where it stood on remediation efforts, after months of talks with the …

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U.S. judge sets April 21 deadline for VW diesel fix

economy

U.S. manufacturing still weak; labor market flexes muscle

New orders for long-lasting U.S. manufactured goods fell in February as the sector continued to struggle with the lingering effects of a robust dollar and lower oil prices. While other data on Thursday showed an increase …

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U.S. manufacturing still weak; labor market flexes muscle

economy

Exclusive: Citigroup executives avoid U.S. charges over mortgage bonds – document

By Nate Raymond NEW YORK (Reuters) – U.S. authorities have decided not to pursue criminal charges against any Citigroup Inc executives or employees involved in packaging and selling mortgage-backed securities at the heart of the 2008 financial crisis, a government report shows. The decision, which followed Citigroup's $7-billion settlement in 2014 resolving federal and state civil claims related to mortgage bonds, was described in a November report…

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Exclusive: Citigroup executives avoid U.S. charges over mortgage bonds – document

economy

U.S. trade deficit widens as exports hit five-and-a-half-year low

The Commerce Department said on Friday the trade gap increased 2.2 percent to $45.7 billion. December's trade deficit was revised up to $44.7 billion from the previously reported $43.4 billion. Economists polled by Reuters had forecast the trade deficit widening to $44.0 billion in January.

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U.S. trade deficit widens as exports hit five-and-a-half-year low

economy

U.S. payrolls surge, bolster Fed rate hike prospects

U.S. employment gains surged in February, the clearest sign yet of labor market strength that could further ease fears the economy was heading into recession and allow the Federal …

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U.S. payrolls surge, bolster Fed rate hike prospects

economy

U.S. jobless claims near 42-year low as labor market tightens

The number of Americans filing for unemployment benefits fell more than expected last week, nearing a 42-year low as labor market conditions continued to tighten in a boost to the economy. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 267,000 for the week ended Dec.19, not far from levels last seen in late 1973, the Labor Department said on Thursday. Claims have been below 300,000, a threshold associated with a

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U.S. jobless claims near 42-year low as labor market tightens

economy

AstraZeneca in talks to buy cancer drugmaker Acerta for $5 billion: WSJ

Netherlands based-Acerta is developing cancer drugs that use the body's own defenses against the disease. On Monday, Acerta reported that 95 percent of patients with chronic lymphocytic leukemia positively responded to

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AstraZeneca in talks to buy cancer drugmaker Acerta for $5 billion: WSJ

economy

U.S. consumers loosen purse strings as holidays start

U.S. consumers showed some muscle in November at the start of the holiday shopping season, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade. The outlook for consumer spending, which accounts for more than two-thirds of economic activity, got a lift from other data …

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U.S. consumers loosen purse strings as holidays start

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