Month: July 2018

Federal Reserve Chairman Jerome Powell, questioned by members of a House congressional committee, repeated on Wednesday that rising world protectionism would over time pose a risk to a U.S. and global expansion that appears largely on track to continue.

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Goldman Sachs analysts said on Wednesday the U.S. government would likely introduce a two-month bill issue at the November refunding and begin raising the auction size of five-year notes by a greater amount than its recent increase.

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Following is a summary of commercial aircraft deals announced by Airbus and Boeing at the Farnborough Airshow in southern England.

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The U.S. dollar hit a three-week high on Wednesday against a basket of major currencies in the wake of an upbeat view of the economy by the U.S. Federal Reserve, while oil prices resumed a recent pullback and gold slumped to a year low.

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Morgan Stanley’s top executive criticized the Federal Reserve’s annual health checks of the biggest U.S. lenders and predicted changes to the tests going forward after his bank reported better-than-expected quarterly earnings on Wednesday.

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Sinclair Broadcast Group Inc said on Wednesday it will reverse course and not divest three television stations in hopes of winning approval of its $3.9 billion acquisition of Tribune Media Co after the Federal Communications Commission chairman said he had “serious concerns” about the deal.

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Engine maker Rolls-Royce is exploring the idea of using robots inspired by snakes and cockroaches to help it inspect and repair engines in the future, the company’s researchers said at the Farnborough Airshow.

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Germany has said 1,050 owners of the Tesla Model S must forgo a 2,000 euro electric car subsidy because the value of their vehicles surpasses an eligibility threshold.

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Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd to tap into the digital marketing sector.

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European Commission President Jean-Claude Juncker said he was “upbeat and relaxed” ahead of his trip to Washington next week to discuss strained trade relations between the European Union and the United States.

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The S&P 500 hovered at five-month highs on Wednesday, with gains in financial and industrial stocks due to strong earnings from marquee companies offsetting losses in the technology and energy sectors.

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Swiss bank UBS will swap out leadership at its Luxembourg wealth management (WM) unit in October amid changes in the region, including the Swiss bank’s move in January to acquire Nordea’s private banking business there.

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