Fed chair vows to ‘do all that I can’ to boost weak U.S. economy
SEATTLE/ MEXICO CITY/ WASHINGTON (Reuters) – F ederal Reserve Chair Janet Yellen vowed on Wednesday to “do all that I can” to boost a U.S. economy where unemployment is too high and inflation is too low.
Rolls-Royce bolsters ethics policy in face of corruption probe
LONDON (Reuters) – Aerospace and defence company Rolls-Royce , facing an investigation by Britain’s anti-fraud watchdog, said it had cut the number of middlemen it uses as it steps up efforts to prevent bribery and corruption.
Ford says February China auto sales up 67 percent year/year
SHANGHAI (Reuters) – Ford Motor Co and its Chinese joint ventures sold 73,040 vehicles in China in February, up 67 percent from a year earlier, the U.S. automaker said on Thursday.
Australia’s Billabong faces possible class action lawsuit
SYDNEY (Reuters) – Law firm Slater & Gordon Ltd said on Thursday it was preparing a class action lawsuit against Australian surfwear company Billabong International Ltd over alleged misleading conduct in information disclosure.
Fisher warns Fed’s bond buying could be distorting U.S. financial markets
MEXICO CITY (Reuters) – A U.S. Federal Reserve policymaker who has long criticized its bond-buying stimulus said on Wednesday the program has lasted too long, and there are signs it is now distorting financial markets and encouraging risk-taking.
Exclusive: GM ratchets up truck discounts as U.S. sales skid
DETROIT (Reuters) – General Motors Co ratcheted up discounts in February on its full-size pickups, but it is telling Wall Street analysts that it intends to maintain premium pricing and margins on the trucks despite a drop in volume and market share.
Chesapeake, Encana face criminal antitrust charges in Michigan
(Reuters) – Oil and gas giants Chesapeake Energy and Encana Corp were charged on Wednesday with colluding to keep oil and gas lease prices artificially low in Michigan, state Attorney General Bill Schuette said.
Rise in U.S. auto, home sales show Fed policies are working: Williams
(Reuters) – Rebounding auto sales and improving home sales and construction are good evidence that the Federal Reserve’s super-easy monetary policy is boosting the U.S. economy, a top Fed official told a group of students on Wednesday.
U.S. businessman convicted in China economic espionage case
SAN FRANCISCO (Reuters) – A California businessman was convicted on Wednesday of stealing DuPont trade secrets to help a state-owned Chinese company develop a white pigment used in a wide range of products.
Weather restrains U.S. private hiring, services sector growth
WASHINGTON (Reuters) – U.S. private employers added fewer workers than expected in February and services sector growth hit a four-year low, the latest signs of the economic toll severe weather is taking.
