Tuesday, 26 February 2019

Fed's Powell says 'no rush' to hike rates in 'solid' but slowing economy

Reuters.com Newsletter

Fed's Powell says 'no rush' to hike rates in 'solid' but slowing economy

The Federal Reserve is in "no rush to make a judgment" about further changes to interest rates, Fed Chairman Jerome Powell told U.S. lawmakers on Tuesday as he spelled out the central bank's approach to an economy that is likely slowing.

Tesla's Musk calls SEC 'broken' in new Twitter spat

Silicon Valley billionaire Elon Musk laid into the U.S. Securities and Exchange Commission again on Tuesday, after it accused the Tesla Inc chief executive officer of violating the terms of a settlement last year of fraud charges against him.

AT&T wins fight with U.S. over purchase of Time Warner

AT&T Inc emerged victorious on Tuesday over the Trump administration's drawn-out attempts to block its $85.4 billion purchase of Time Warner as the U.S. Justice Department said it would not fight an appeals court ruling approving the deal.

U.S. opens anti-dumping probe into steel imports from China, Canada, Mexico: source

The U.S. Commerce Department is set to announce Tuesday it will open a new anti-dumping probe to determine whether fabricated structural steel from Canada, China and Mexico is being sold at below fair value, a person briefed on the matter said.

Wall St. edges lower in choppy session

Wall Street's three major indexes fell slightly after a choppy session on Tuesday as investors eyed mixed U.S. economic data and corporate news and waited for clarity on issues such as the U.S.-China trade talks.

U.S. Justice Department: no plans to appeal AT&T Time Warner ruling

The U.S. Justice Department does not plan to challenge an appeals court ruling on Tuesday that found AT&T Inc's purchase of Time Warner was legal under antitrust law, the government said on Tuesday.

EBay offers concessions to avert fight with Elliott: sources

EBay Inc has informed Elliott Management Corp it is willing to explore shedding some of its key assets and give the hedge fund board representation in a bid to avert a proxy contest, people familiar with the matter said on Tuesday.

Manager at Brazil's Vale told executives of dam risks: newspaper

A manager at Brazilian iron ore miner Vale SA told authorities that the company's executive board knew there had been a "decrease in security" at the dam that burst in January, killing hundreds, according to a newspaper report on Tuesday.

Why some U.S. fund managers like China regardless of trade deal

U.S. President Donald Trump's decision to delay raising tariffs on $200 billion worth of Chinese goods has helped push global stock markets broadly higher as investors hope for a resolution in the trade war between the world's two largest economies.

Credit reporting agencies face pressure from skeptical U.S. Congress

The nation's major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry.

With OPEC likely to ignore Trump, oil prices edge up

Oil futures inched up on Tuesday after news that OPEC would continue production cuts despite comments from U.S. President Donald Trump, who criticized the producer group for rising crude prices a day earlier.

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