Fed’s Powell, under pressure, likely to stick to ‘mid-cycle’ message
Federal Reserve Chair Jerome Powell comes to this year’s meeting of central bankers in Jackson Hole, Wyoming, caught between discord within the U.S. central bank over appropriate monetary policy and mounting outside pressure for more interest rate cuts…
Oil eases as Jackson Hole meeting gets underway
Oil prices weakened on Thursday as worries about the global economy weighed and equity markets were under pressure as uncertainty over the outlook for U.S. interest rate cuts left investors on edge.
Wall St. falls after disappointing data, Fed policymakers dampen rate cut hopes
U.S. stocks turned lower on Thursday as the first contraction in the manufacturing sector in nearly a decade and uncertainty about future interest rate cuts overshadowed an initial boost from upbeat retail earnings.
China buys U.S. soybeans after declaring ban on American farm goods
China snapped up a small volume of U.S. soybeans last week after pledging to halt purchases of American farm products due to the escalating trade war between Washington and Beijing, U.S. Department of Agriculture data showed on Thursday.
Pompeo says U.S. officials are focusing on release of two Canadians in China
U.S. Secretary of State Mike Pompeo on Thursday assured Canadian Prime Minister Justin Trudeau that American officials were working to free two Canadian men who were detained by China late last year.
China blames Canada for difficulties in relationship, demands Huawei executive be freed
China’s embassy in Canada said on Thursday that bilateral ties were suffering “gross difficulties,” and demanded Ottawa free Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou.
Fed’s Harker says does not see case for additional stimulus: CNBC
Philadelphia Federal Reserve Bank President Patrick Harker said on Thursday that he does not see the case for additional stimulus.
Ford names new president for China joint venture to deepen alliance amid falling sales
Ford Motor Co on Thursday named Steven Armstrong president of the Changan Ford joint venture in China to deepen the alliance and push for more models, as the U.S. carmaker tries to stem a decline in sales in the world’s second largest economy.
Wall Street gains as retail earnings highlight consumer confidence
U.S. stocks rose broadly on Thursday as strong results from retailers bolstered confidence in consumer demand, while investors look ahead to Federal Reserve Chief Jerome Powell’s speech for more clues on future interest rate moves.
Volkswagen not interested in buying Tesla stake
Volkswagen said on Thursday it was not interested in taking a stake in Tesla , denying a media report that CEO Herbert Diess wanted to buy shares in the U.S. company to access its software and batteries technology.
