U.S. consumers stretch out auto loans to afford higher-priced cars
DETROIT (Reuters) – Automakers are sustaining record transaction prices for new vehicles by stretching out loan payments for less credit-worthy customers, according to a new report Wednesday from credit monitoring company Experian.
Private payrolls, compensation data point to sturdy jobs market
WASHINGTON (Reuters) – U.S. private employers boosted hiring in November and wage growth appeared to pick up in the third quarter, signs of labor market strength that could support the first Federal Reserve interest rate increase in nearly a decade lat…
Ex-JPMorgan bankers settle SEC municipal bribery charges
(Reuters) – Two former JPMorgan Chase & Co bankers agreed to pay about $326,000 to settle U.S. Securities and Exchange Commission charges that they paid millions of dollars to close friends of Jefferson County, Alabama commissioners in order to win $5 billion of municipal bond and swap business.
If history is a guide, dollar will drop after Fed hike
LONDON (Reuters) – History is not on the dollar’s side. In the last couple of decades, the dollar index , which measures the greenback against a basket of six currencies, has fallen every time the Federal Reserve has begun a cycle of interest rate hike…
Atlanta Fed’s Lockhart says rate case ‘compelling’ ahead of last review
WASHINGTON (Reuters) – U.S. economic data would have to “drastically” alter the nation’s outlook over the next two weeks to change the “compelling” case for an initial hike in interest rates when the Federal Reserve next meets on Dec. 15-16, Atlanta Fe…
U.S. private sector adds 217,000 jobs in November: ADP
NEW YORK (Reuters) – U.S. private employers added 217,000 jobs in November, above expectations and the most since June, signaling job growth is likely strong enough to support the first Federal Reserve interest rate hike in nearly a decade when policym…
Fed’s Tarullo says looking into smaller banks’ concerns
WASHINGTON (Reuters) – Federal banking agencies are looking at many of smaller banks’ concerns, including simplifying capital rules for community banks, said Federal Reserve Governor Daniel Tarullo on Wednesday.
U.S. third-quarter productivity revised higher, but trend weak
WASHINGTON, Dec 2 (Reuters) – – U.S. nonfarm productivity grew at a faster pace than previously thought in the third quarter, but the underlying trend remained very weak.
VW’s Skoda says skipping extra weekend shifts at year-end but no production cuts
PRAGUE (Reuters) – VW’s Skoda, whose car sales have fallen recently, said on Wednesday that after consideration it will not introduce additional weekend shifts in December but it was not cutting production.
VW agrees on terms of 20 billion euro bridge loan: sources
FRANKFURT/BERLIN (Reuters) – Volkswagen has agreed the terms of a 20 billion euro ($21 billion) bridging loan with banks to help shoulder the costs of its emissions scandal, three people familiar with the matter told Reuters on Wednesday.
