Bhinneka News Online: Breaking business news: U.S. consumer spending grows at fastest pace since 2009

Monday, 30 October 2017

Breaking business news: U.S. consumer spending grows at fastest pace since 2009

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Monday, October 30, 2017

U.S. consumer spending grows at fastest pace since 2009

WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted.

World stocks hit new high as Spain relief, tech rally boost European trading

LONDON (Reuters) - A strong rally in the technology sector helped drive global stocks to a record high on Monday, while a recovery in Spanish markets helped to lift European shares after an opinion poll smoothed investors' concerns over Catalan secession.

U.S. regulator wants to loosen leash on Wells Fargo: sources

WASHINGTON (Reuters) - A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.

New Akzo Nobel boss pursues $30 billion deal with Axalta

AMSTERDAM/FRANKFURT (Reuters) - Dutch paints maker Akzo Nobel, seeking to recover after rejecting a takeover offer and issuing two profit warnings, is discussing a merger with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company.

Goldman CEO has high hopes for London HQ post-Brexit, much outside his control

LONDON (Reuters) - Goldman Sachs chief executive Lloyd Blankfein expects to fill up the firm's new European headquarters which is currently under construction in London, but said Britain's exit from the European Union leaves much outside the bank's control.

U.S. oil exports boom, putting infrastructure to the test

NEW YORK/HOUSTON (Reuters) - Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic.

Futures slightly lower as Fed chair decision looms

(Reuters) - U.S. stock index futures pointed to a lower opening for Wall Street on Monday as investors held back from making big bets ahead of a decision on the next Federal Reserve head.

Scandal-hit Kobe Steel seeks loans, shareholder offers support

TOKYO (Reuters) - Kobe Steel Ltd is seeking 50 billion yen ($440 million) in loans from banks, a banking source said on Monday, while a shareholder said it was ready to offer support as the company grapples with a scandal over falsified product specifications.

Two banks drop McKinsey in fallout from South Africa scandal

JOHANNESBURG (Reuters) - Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.

Activist White Tale demands Clariant board seats, review

ZURICH (Reuters) - White Tale Holdings, the activist investor that thwarted a $20 billion merger between Clariant and U.S. rival Huntsman, on Monday demanded three seats on the Swiss chemical maker's board and an independent strategic review of the business.