Harvey's Aftermath: 400,000 Mortgages Are Up In The Air
2017-08-29 01:40:39 UTC
(Reuters) - U.S. mortgage agencies face possible losses on some of the 400,000 mortgages they guarantee on homes ravaged by Hurricane Harvey, but they will not know the extent of the damage until the wind and rain stop in Texas and Louisiana.
Some of the structures may not have flood insurance...
Euro Strengthened By EU Economic Growth
2017-08-28 00:29:56 UTC
SINGAPORE (Reuters) - The euro surged to its highest level since January 2015 against the dollar early on Monday.
The euro advanced 0.3 percent to $1.1953 on Monday, extending Friday’s 1 percent jump.
“The EUR bulls will feed off anything they can get that suggests a less accommodative stan...
Samsung Vice Chairman Jay Y. Lee sentenced for five years
2017-08-25 07:18:22 UTC
SEOUL (Reuters) - A South Korean court jailed Samsung Electronics Vice Chairman Jay Y. Lee for five years on Friday.
The Seoul Central District Court was delivering its verdict on charges against Lee, 49, ranging from bribery to perjury in a scandal that led to the ouster in March of the then ...
Whole Foods' Competitors Fear Amazon Price Cuts
2017-08-25 06:36:18 UTC
(Reuters) - Amazon said it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market, sending shares of rival grocers tumbling on fears that brutal market share battles will intensify.
Amazon’s $13.7 billion purchase of Whole Foods, which will be complet...
White House Supports Raising Debt Ceiling
2017-08-24 20:06:44 UTC
WASHINGTON (Reuters) - The White House said on Thursday it was committed to making sure Congress raises the nation's debt limit even as the president described the looming legislative process as a "mess."
"It's our job to inform Congress of the debt ceiling and it's their job to raise it," Whi...
Fired Google Engineer Hires Lawyer in Free Speech Case
2017-08-24 17:30:02 UTC
Google found itself at the epicenter of controversy this month after a 10-page anti-diversity manifesto written by one of its employees, which had circulated internally at the company, went viral. James Damore, the employee who wrote the memo—which argued that women are less biologically inclined...
U.S. workers have low hopes for higher pay
2017-08-21 17:01:39 UTC
NEW YORK (Reuters) - U.S. workers see little hope for higher paychecks, and while they are increasingly searching for new jobs, they expect fewer offers to fall into their laps, according to a Federal Reserve survey published on Monday.
The first-of-its-kind New York Fed study, to be published...
Trump disbanded business councils after CEOs exit
2017-08-16 18:35:17 UTC
WASHINGTON/NEW YORK (Reuters) - U.S. President Donald Trump disbanded two high-profile business advisory councils on Wednesday after corporate CEOs quit in protest at his remarks blaming violence in Charlottesville, Virginia, not only on white nationalists but also on the protesters who opposed t...
EU Strong Economic Growth Is On Track
2017-08-16 08:10:41 UTC
LONDON (Reuters) - Miners and oil stocks helped Europe's major share index make strong gains on Wednesday, as higher metals prices lent a hand and investors awaited euro zone GDP figures expected to confirm the bloc's economic growth was on track.
The pan-European STOXX 600 rose 0.5 percent, i...
Premiums would rise 20% if Trump stops federal pay for health care
2017-08-15 19:45:50 UTC
WASHINGTON (Reuters) - Premiums for many would rise 20 percent in 2018 if Trump stops federal payments to health insurers, a nonpartisan congressional office said on Tuesday.
The Congressional Budget Office also found that terminating the payments would mean that 5 percent of Americans would l...
Is Recession Looming? U.S. Household Debt Jumps To A New Record High
2017-08-15 18:10:40 UTC
NEW YORK (Reuters) - Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped.
Total U.S. household debt was $12.84 tri...
Check your math: less immigration equals less growth
2017-08-08 08:03:31 UTC
(Reuters) - Less than week after a U.S. President Donald Trump embraced legislation to reduce immigration, Minneapolis Federal Reserve Bank President Neel Kashkari urged residents of South Dakota to embrace newcomers instead.
"Just going to math, if a big source of economic growth is populatio...
How much would the UK be willing to pay to leave the EU?
2017-08-06 04:16:37 UTC
LONDON (Reuters) - Britain is prepared to pay up to 40 billion euros ($47 billion) as part of a deal to leave the European Union, the Sunday Telegraph newspaper reported, citing three unnamed sources familiar with Britain's negotiating strategy.
The European Union has floated a figure of 60 bi...
Apple to launch 'Call Watches' without needing an iPhone
2017-08-04 22:52:29 UTC
(Reuters) - Apple Inc plans to release a version of its smartwatch later this year that can connect directly to cellular networks, Bloomberg reported on Friday, citing people familiar with the matter.
Some of the new models for the Apple Watch will be equipped with LTE chips and be able to per...
Apple bends to the will of China after Putin bans Apps
2017-08-02 19:47:45 UTC
Apple Conforms To Chinese Law Pulls Apps From China App Store As Russia Signs Law Banning Their Use.
Russia has signed a law banning the use of virtual private networks (VPNs) that enable users to gain access to websites banned in Russia.
The new law was signed by President Vladimir Putin...
BREXIT: UK could lose up to 40,000 investment banking jobs
2017-08-01 05:46:07 UTC
LONDON (Reuters) - Britain's finance industry could lose up to 40,000 investment banking jobs in the next few years unless it strikes a softer deal on its departure from the European Union, according to a new report by consultancy firm Oliver Wyman.
Banks are currently planning for a worst-cas...
Germany: US sanctions against Russia violate international law
2017-08-01 05:31:14 UTC
BERLIN — Germany's economy minister, Brigitte Zypries, on Monday decried the US' latest round of sanctions against Russia, insisting that they violate international law by indirectly punishing European firms.
"The Americans cannot punish German companies because they are doing business in anot...
Facebook's Sheryl Sandberg: We need to start paying women well
2017-07-31 04:47:45 UTC
LONDON (Reuters) - Facebook Inc Chief Operating Officer Sheryl Sandberg called on governments and companies to do more to close the gender pay gap on Sunday and said both girls and boys should be encouraged to become leaders from an early age.
"We need to start paying women well and we need th...
"Working together to take the UK out of the EU" is falling to Chaos
2017-07-30 04:16:56 UTC
LONDON (Reuters) - An ally of British foreign minister Boris Johnson has criticized the Brexit transition plans of finance minister Philip Hammond, a newspaper said, in the latest sign of tensions within the government over how Britain should leave the European Union.
Gerard Lyons, a former ec...
Only 29 percent of Americans want Congress to "continue working on a new healthcare bill"
2017-07-30 03:41:33 UTC
NEW YORK (Reuters) - A majority of Americans are ready to move on from healthcare reform at this point after the U.S. Senate's effort to dismantle Obamacare failed on Friday, according to an exclusive Reuters/Ipsos opinion poll released on Saturday.
Nearly two-thirds of the country wants to ei...
Tesla delivers the first 30 of its Model 3 cars in California
2017-07-30 16:01:45 UTC
FREMONT, Calif. (Reuters) - Tesla Chief Executive Officer Elon Musk said on Friday the Model 3 had over half a million advance reservations as he handed over the first 30 to employee buyers, setting the stage for the biggest test yet of the company's strategy to become a profitable, mass market e...
Elizabeth Warren called on Federal Reserve to remove members of Wells Fargo's board
2017-07-29 04:06:47 UTC
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of Wells Fargo & Co's board after revelations the company improperly charged customers for auto insurance.
In a letter sent Friday to Yellen, Warren, a Democrat, said the recent ...
Repeal Fails: President Obama’s Health Law Will Stay
2017-07-30 03:51:28 UTC
WASHINGTON (Reuters) - A U.S. Senate led by Donald Trump's fellow Republicans dealt the president a harsh blow on Friday, failing to move ahead with a major campaign promise to dismantle Obamacare as they fell one vote short of passing healthcare legislation.
Three Republican senators - John M...
EU, the world's biggest trading bloc, seeks to set global trade rules - US out of the race
2017-07-27 16:29:50 UTC
BRUSSELS (Reuters) - If Donald Trump's ditching of a U.S.-led trade alliance with Pacific Rim nations wasn't a gift to the European Union, then it must be the next best thing.
The president's decision on his first day in office effectively pulled the United States out of the race to frame glob...
Senate rejects Obamacare repeal again, eyes 'skinny' bill
2017-07-27 05:51:10 UTC
WASHINGTON (Reuters) - Senate Republicans fell short again in their effort to end Obamacare, rejecting a measure to repeal large portions of former President Obama's signature law that has provided health insurance to millions of Americans.
The last-ditch effort came after senators voted 55-45...