Fed fines HSBC $175 million for lack of forex trading oversight
WASHINGTON (Reuters) – The Federal Reserve on Friday fined HSBC Holdings PLC $175 million for “unsafe and unsound practices” in its foreign exchange trading business, the latest in a series of fines for banks’ failures to prevent market manipulation.
Hurricane Harvey curbs U.S. consumer spending; inflation muted
WASHINGTON (Reuters) – U.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales, while annual inflation increased at its slowest pace in nearly two years, pointing to a moderation in economic growth in the third qua…
U.S. auto sales for September to be highest in 2017: JD Power and LMC
(Reuters) – Americans in hurricane ravaged cities are replacing their damaged vehicles and that is set to lift the pace of vehicles sales for September to its highest level this year, according to consultancies J.D. Power and LMC Automotive.
Lagging U.S. online giants, Europe split over web tax
TALLINN (Reuters) – European Union leaders meeting on Friday to discuss how to boost the region’s online economy appeared divided where to put the emphasis: supporting the industry or taxing the mostly American companies that currently dominate.
Tech, financials help drive S&P, Nasdaq to record
(Reuters) – The S&P 500 and the Nasdaq hit record levels on Friday, the last day of the third quarter, helped by gains in technology and financial stocks.
Technology stocks drive S&P to record high
(Reuters) – Gains in technology stocks helped the S&P 500 eke out another record on the last trading day of the month, while the Dow was dragged down by losses in industrial stocks.
Bullish oil streak propels Brent to strongest third quarter in 13 years
AMSTERDAM (Reuters) – Oil edged higher on Friday as tensions around Iraqi Kurdistan threatened the region’s crude supplies, helping Brent prices to their strongest third-quarter performance since 2004.
Russia’s Rosneft elects former German chancellor Schroeder as chairman
ST PETERSBURG, Russia (Reuters) – Former German Chancellor Gerhard Schroeder faced further criticism at home after he was elected as chairman of Russia’s biggest oil producer Rosneft on Friday.
U.S. consumer spending barely rises; core inflation retreats
WASHINGTON (Reuters) – U.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to a moderation in economic growth in the third quarter.
Lyft IPO puts investors in self-driving cars as well as ride services
DETROIT (Reuters) – An initial public offering by Lyft Inc will give investors a way to jump into self-driving cars, although the ride services company and rival Uber Technologies Inc may have to wait years before sending a driverless robotaxi to a cus…
