U.S. CBO says budget deficit to reach $590 billion for fiscal 2016
WASHINGTON (Reuters) – The U.S. budget deficit is expected to grow to $590 billion in fiscal year 2016 due to slower than expected growth in revenues and higher spending for programs including Social Security and Medicare, the Congressional Budget Offi…
Eight Fed banks urge discount rate increase: minutes
WASHINGTON (Reuters) – The number of regional Federal Reserve banks calling on the central bank to raise the rate it charges commercial banks for emergency loans rose to eight in July, minutes from the Fed’s discount rate meeting released on Tuesday sh…
AIG in talks to sell Lloyd’s insurance business to CPPIB: WSJ
(Reuters) – American International Group Inc is in early talks to sell Lloyd’s of London Ltd’s [SOLYD.UL] insurance operations to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday.
U.S. new home sales race to near nine-year high
WASHINGTON (Reuters) – New U.S. single-family home sales unexpectedly surged in July, reaching their highest level in nearly nine years amid robust demand, brightening the housing market outlook and bolstering views that economic growth will pick up in…
Exclusive: China’s richest man set to seal two billion-dollar U.S. film deals
BEIJING (Reuters) – Real estate and entertainment conglomerate Dalian Wanda Group Co expects to seal two billion-dollar film-related deals in the United States this year, chairman Wang Jianlin said on Tuesday, as China’s richest man steps up his push i…
U.S. equity fund managers see reason to worry ahead of September
NEW YORK (Reuters) – The rally in U.S. stocks since late June is prompting some mutual fund managers to prepare for a rocky September.
VW, states agree to hold settlement talks over environmental claims
(Reuters) – Volkswagen AG and several U.S. states that sued the German automaker seeking hundreds of millions of dollars in damages for state law violations agreed to hold settlement talks, the automaker said in a court filing Tuesday.
Monsanto beats cities’ lawsuits over San Francisco Bay pollution
(Reuters) – A federal judge has dismissed lawsuits in which the California cities of San Jose, Oakland and Berkeley sought to force Monsanto Co to help pay for reducing PCB contamination to San Francisco Bay.
Investors skeptical of Fed’s rate policy ahead of Yellen speech
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen may struggle later this week to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least once in 2016 after it started the year with four hikes on it…
Best Buy profit beats estimates; shares surge
(Reuters) – Best Buy Co Inc reported a much higher-than-expected quarterly profit on strength in health and wearable items like smartwatches, and the largest U.S. electronics retailer raised its earnings outlook, sending its shares up nearly 17 percen…
