Tuesday 27 February 2018

Fed's Powell nods to stronger economy, backs gradual rate hike path

Fed's Powell nods to stronger economy, backs gradual rate hike path

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates.

Comcast's $31 billion Sky bid crashes Murdoch and Disney show

LONDON (Reuters) - U.S. cable giant Comcast Corp has offered $31 billion for Sky Plc , threatening a plan hatched by Rupert Murdoch's Twenty-First Century Fox Inc and Walt Disney Co to seize control of Europe's biggest pay-TV group.

U.S. trade officials meet auto executives amid latest NAFTA push

WASHINGTON/MEXICO CITY (Reuters) - U.S. trade officials are due to meet auto industry executives on Tuesday, three sources said, in a possible sign of increased discussion of automotive content requirements that have become a sticking point in efforts to rework the NAFTA trade deal.

Wall Street sinks as Powell's comments fuel rate worries

NEW YORK (Reuters) - U.S. stocks suffered on Tuesday their biggest daily drops since the selloff three weeks ago after comments from Federal Reserve Chairman Jerome Powell revived fears about more interest-rate increases than expected this year.

U.S. Supreme Court wrestles with Microsoft data privacy fight

WASHINGTON (Reuters) - Supreme Court justices on Tuesday wrestled with Microsoft Corp's dispute with the U.S. Justice Department over whether prosecutors can force technology companies to hand over data stored overseas, with some signaling support for the government and others urging Congress to pass a law to resolve the issue.

JPMorgan boosts profit outlook as CFO talks 'digital everything'

(Reuters) - JPMorgan Chase & Co offered a sunny business outlook on Tuesday, saying higher interest rates, increased automation and growth in all of its business units could boost pretax profit by 17.5 percent over the next few years.

U.S. manufacturing, goods trade data point to slow first quarter growth

WASHINGTON (Reuters) - New orders for U.S.-made capital goods unexpectedly fell for a second straight month in January and shipments barely rose, pointing to a slowdown in business spending on equipment and in economic growth early in the first quarter.

Macy's shares jump at first sign of sales turnaround

NEW YORK (Reuters) - Macy's Inc on Tuesday said sales at established stores could mark their first annual gain in four years, pinning its hopes on a new loyalty program, more off-price selling and private-label brands.

Nike defeats appeal over iconic Michael Jordan photo, Jumpman logo

(Reuters) - Nike Inc on Tuesday defeated an appeal by a renowned photographer who accused the sportswear company of ripping off his iconic photo of basketball superstar Michael Jordan, and using it to create its silhouetted "Jumpman" logo.

PayPal settles U.S. charges over alleged Venmo disclosure failure: FTC

WASHINGTON (Reuters) - PayPal Holdings Inc , parent of peer-to-peer payments app Venmo, has settled U.S. charges it failed to give critical disclosures to users regarding privacy and the availability of funds transferred into a Venmo account, the Federal Trade Commission said on Tuesday.

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